BlackRock Balanced Capital Fund, Inc. BlackRock Basic Value Fund, Inc.

BlackRock Bond Fund, Inc.
      BlackRock Total Return Fund   BlackRock California Municipal Series Trust
      BlackRock California Municipal Bond Fund   BlackRock Capital Appreciation Fund, Inc.
     
BlackRock CoRI Funds       BlackRock CoRI 2015 Fund       BlackRock CoRI 2017 Fund       BlackRock CoRI 2019 Fund       BlackRock CoRI 2021 Fund       BlackRock CoRI 2023 Fund   BlackRock Emerging Markets Fund, Inc.
     
BlackRock Equity Dividend Fund
     
BlackRock EuroFund
     
BlackRock Focus Growth Fund, Inc.

BlackRock Funds^SM
      BlackRock All-Cap Energy & Resources Portfolio
      BlackRock Commodity Strategies Fund
      BlackRock Disciplined Small Cap Core Fund       BlackRock Emerging Market Allocation Portfolio       BlackRock Emerging Markets Dividend Fund       BlackRock Emerging Markets Long/Short
          Equity Fund
      BlackRock Energy & Resources Portfolio
      BlackRock Flexible Equity Fund
      BlackRock Global Long/Short Credit Fund
      BlackRock Global Long/Short Equity Fund       BlackRock Global Opportunities Portfolio
      BlackRock Health Sciences Opportunities           Portfolio            BlackRock International Opportunities Portfolio
      BlackRock Managed Volatility Portfolio
      BlackRock Mid-Cap Growth Equity Portfolio
      BlackRock Multi-Asset Real Return Fund
      BlackRock Real Estate Securities Fund
      BlackRock Science & Technology
          Opportunities Portfolio
      BlackRock Small Cap Growth Equity Portfolio
      BlackRock Strategic Risk Allocation Fund
      BlackRock U.S. Opportunities Portfolio

BlackRock Funds II
      BlackRock Aggressive Growth Prepared Portfolio
      BlackRock Conservative Prepared Portfolio
      BlackRock Core Bond Portfolio     
      BlackRock Floating Rate Income Portfolio
      BlackRock Global Dividend Portfolio


      BlackRock GNMA Portfolio       BlackRock Growth Prepared Portfolio
      BlackRock High Yield Bond Portfolio
      BlackRock Inflation Protected Bond Portfolio            BlackRock Investment Grade Bond Portfolio
      BlackRock Low Duration Bond Portfolio
      BlackRock Moderate Prepared Portfolio       BlackRock Multi-Asset Income Portfolio       BlackRock Secured Credit Portfolio            BlackRock U.S. Government Bond Portfolio
      LifePath^® Active 2015 Portfolio
      LifePath^® Active 2020 Portfolio
      LifePath^® Active 2025 Portfolio
      LifePath^® Active 2030 Portfolio
      LifePath^® Active 2035 Portfolio
      LifePath^® Active 2040 Portfolio
      LifePath^® Active 2045 Portfolio
      LifePath^® Active 2050 Portfolio
      LifePath^® Active 2055 Portfolio

BlackRock Global Allocation Fund, Inc.     
     
BlackRock Global SmallCap Fund, Inc.
     
BlackRock Large Cap Series Funds, Inc.
      BlackRock Large Cap Core Fund
      BlackRock Large Cap Core Plus Fund       BlackRock Large Cap Growth Fund       BlackRock Large Cap Value Fund
      BlackRock Large Cap Growth Retirement Portfolio
      BlackRock Large Cap Value Retirement Portfolio
      BlackRock Large Cap Core Retirement Portfolio   BlackRock Latin America Fund, Inc.

BlackRock Long-Horizon Equity Fund   BlackRock Mid Cap Value Opportunities Series, Inc.
      BlackRock Mid Cap Value Opportunities Fund   BlackRock Multi-State Municipal Series Trust
      BlackRock New Jersey Municipal Bond Fund
      BlackRock New York Municipal Bond Fund
      BlackRock Pennsylvania Municipal Bond Fund   BlackRock Municipal Bond Fund, Inc.
      BlackRock High Yield Municipal Fund
      BlackRock National Municipal Fund
      BlackRock Short-Term Municipal Fund   BlackRock Municipal Series Trust
      BlackRock Strategic Municipal Opportunities Fund
     
BlackRock Natural Resources Trust
     
BlackRock Series, Inc.
      BlackRock International Fund
      BlackRock Small Cap Growth Fund II

BlackRock Value Opportunities Fund, Inc.

FDP Series, Inc.
      Marsico Growth FDP Fund
      MFS Research International FDP Fund
      Invesco Value FDP Fund
      Franklin Templeton Total Return FDP Fund Managed Account Series
      BlackRock U.S. Mortgage Portfolio       Global SmallCap Portfolio       Mid Cap Value Opportunities Portfolio

(each, a “Fund” and collectively, the “Funds”)

Supplement dated May 7, 2014 to the
Statement of Additional Information of each Fund

Effective May 1, 2014, Part II of each Fund’s Statement of Additional Information is amended as follows:

The last paragraph under the section entitled “Purchase of Shares — Other Compensation to Selling Dealers” in Part II of each Fund’s current Statement of Additional Information is deleted in its entirety and replaced with the following:

As of the date of this SAI, as amended or supplemented from time to time, the following Service Organizations are receiving such payments: Ameriprise Financial Services, AXA Advisors, Cetera Advisor Networks LLC, Cetera Advisors LLC, Cetera Financial Specialists LLC, Cetera Investment Services LLC, Chase Investment Services Corp, CCO Investment Services, Commonwealth Equity Services (Commonwealth Financial Network), Donegal Securities, FSC Securities Corporation, ING Financial Partners, Investacorp, Inc., LPL Financial Corporation, Merrill Lynch, MetLife Securities, Morgan Stanley Smith Barney, New England Securities Corporation, Northwestern Mutual Investment Services, LLC, Oppenheimer & Co., PFS Investments, Raymond James, RBC Capital Markets, Royal Alliance Associates, SagePoint Financial, Santander Securities, LLC, Securities America, State Farm VP Management Corp., Tower Square Securities, Triad Advisors, Inc., UBS Financial Services, U.S. Bancorp Investments, Walnut Street Securities, Wells Fargo, Wells Fargo Securities, LLC, Woodbury Financial Services, Inc. and/or broker dealers and other financial services firms under common control with the above organizations (or their successors or assignees). The level of payments made to these Service Organizations in any year will vary, may be limited to specific Funds or share classes, and normally will not exceed the sum of (a) 0.25% of such year’s Fund sales by that Service Organization and (b) 0.21% of the assets attributable to that Service Organization invested in a Fund. In certain cases, the payments described in the preceding sentence are subject to certain minimum payment levels. In addition, from time to time BRIL, BlackRock or certain of their affiliates may make fixed dollar amount payments to certain Service Organizations listed above that are not based on the value of the shares sold to, or held by, the Service Organization’s customers and may be different for different Service Organizations.

Shareholders should retain this Supplement for future reference.

SAI-GLOBAL-0514SUP