MULTI-REGISTRANT SUPPLEMENT
BlackRock Advantage Global Fund, Inc.
BlackRock Advantage U.S. Total Market Fund, Inc.
BlackRock Asian Dragon Fund, Inc.
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 Opportunities Fund
BlackRock Capital Appreciation Fund, Inc.
BlackRock
Emerging Markets Fund, Inc.
BlackRock Equity Dividend Fund
BlackRock EuroFund
BlackRock Focus Growth Fund, Inc.
BlackRock FundsSM
BlackRock Advantage Emerging Markets Fund
BlackRock Advantage International Fund
BlackRock Advantage Large Cap Growth Fund
BlackRock Advantage Small Cap Core Fund
BlackRock Advantage Small Cap Growth Fund
BlackRock All-Cap Energy & Resources Portfolio
BlackRock Alternative Capital Strategies Fund
BlackRock Commodity Strategies Fund
BlackRock Emerging Markets Dividend Fund
BlackRock Emerging Markets Equity Strategies Fund
BlackRock Energy & Resources Portfolio
BlackRock Global Long/Short Credit Fund
BlackRock Global Long/Short Equity Fund
BlackRock Health Sciences Opportunities Portfolio
BlackRock High Equity Income Fund
BlackRock Impact Bond Fund
BlackRock Impact U.S. Equity Fund
BlackRock International Dividend Fund
BlackRock Mid-Cap Growth Equity Portfolio
BlackRock Money Market Portfolio
BlackRock Real Estate Securities Fund
BlackRock Tactical Opportunities Fund
BlackRock Technology Opportunities Fund
BlackRock Total Emerging Markets Fund
BlackRock Total Factor Fund
BlackRock
Funds II
BlackRock 20/80 Target Allocation Fund
BlackRock 40/60 Target Allocation Fund
BlackRock 60/40 Target Allocation Fund
BlackRock 80/20 Target Allocation Fund
BlackRock Core Bond Portfolio
BlackRock Credit Strategies Income Fund
BlackRock Dynamic High Income Portfolio
BlackRock Emerging Markets Flexible Dynamic Bond Portfolio
BlackRock Floating Rate Income Portfolio
BlackRock Global Dividend Portfolio
BlackRock GNMA Portfolio
BlackRock High Yield Bond Portfolio
BlackRock Inflation Protected Bond Portfolio
BlackRock Low Duration Bond Portfolio
BlackRock Managed Income Fund
BlackRock Multi-Asset Income Portfolio
BlackRock Strategic Income Opportunities Portfolio
BlackRock U.S. Government Bond Portfolio
BlackRock Funds III
BlackRock CoreAlpha
Bond Fund
BlackRock LifePath®
Dynamic Retirement Fund
BlackRock LifePath® Dynamic 2020 Fund
BlackRock LifePath® Dynamic 2025
Fund
BlackRock LifePath® Dynamic 2030 Fund
BlackRock LifePath® Dynamic 2035
Fund
BlackRock LifePath® Dynamic 2040 Fund
BlackRock LifePath® Dynamic 2045
Fund
BlackRock LifePath®
Dynamic 2050 Fund
BlackRock LifePath® Dynamic 2055 Fund
BlackRock
LifePath® Dynamic 2060 Fund
BlackRock
Global Allocation Fund, Inc.
BlackRock Large Cap Series Funds, Inc.
BlackRock Advantage Large Cap Core Fund
BlackRock Advantage Large Cap Value Fund
BlackRock Event Driven Equity Fund
BlackRock Large Cap Focus Growth Fund
BlackRock Latin America Fund, Inc.
BlackRock
Long-Horizon Equity Fund
BlackRock Mid Cap Dividend Series, Inc.
BlackRock Mid Cap Dividend Fund
BlackRock Multi-State Municipal Series Trust
BlackRock New Jersey Municipal Bond Fund
BlackRock New York Municipal Opportunities 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 Strategic Global Bond Fund, Inc.
FDP Series, Inc.
FDP BlackRock Capital
Appreciation Fund
FDP BlackRock CoreAlpha Bond Fund
FDP BlackRock Equity Dividend Fund
FDP BlackRock International Fund
Managed
Account Series
BlackRock U.S. Mortgage Portfolio
(each, a Fund
and collectively, the Funds)
Supplement dated August 10, 2018
to the Investor C Shares Prospectus of each Fund (each, a Prospectus)
Effective November 8, 2018 (the Effective Date), each Fund will adopt an automatic conversion feature for Investor C Shares. Beginning on
the Effective Date, Investor C Shares of each Fund will automatically convert to Investor A Shares of the same Fund approximately ten years after the date of purchase. Certain Financial Intermediaries, including group retirement recordkeeping
platforms, may not have been tracking such holding periods and therefore may not be able to process such conversions. In these instances, Investor C Shares held as of the Effective Date will automatically convert to Investor A Shares ten years after
the Effective Date.
Effective November 8, 2018, each Prospectus is amended as follows:
In the section of each Prospectus entitled Account Information How to Choose the Share Class that Best Suits Your Needs Share
Classes at a Glance, the section of the table in the column entitled Investor C and the row entitled Conversion to Investor A Shares? is deleted in its entirety and replaced with the following:
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Investor C |
Conversion to Investor A Shares? |
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Yes, automatically approximately ten years after the date of purchase. It is the Financial Intermediarys responsibility to ensure that the shareholder is
credited with the proper holding period. As of the Effective Date (as defined below), certain Financial Intermediaries, including group retirement recordkeeping platforms, may not have been tracking such holding periods and therefore may not be able
to process such conversions. In such instances, the automatic conversion of Investor C Shares to Investor A Shares will occur ten years after the Effective Date. |
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The second paragraph in the section of each Prospectus entitled Account Information Details
About the Share Classes Investor C Shares Deferred Sales Charge Option, or Account Information Details About the Share Classes Investor B and Investor C Shares
Deferred Sales Charge Options Investor C Shares, as applicable, is deleted in its entirety and replaced with the following:
Effective November 8, 2018 (the Effective Date), Investor C Shares will automatically convert to Investor A Shares approximately ten
years after the date of purchase. It is the Financial Intermediarys responsibility to ensure that the shareholder is credited with the proper holding period. As of the Effective Date, certain Financial Intermediaries, including group
retirement recordkeeping platforms, may not have been tracking such holding periods and therefore may not be able to process such conversions. In such instances, the automatic conversion of Investor C Shares to Investor A Shares will occur
ten years after the Effective Date. The automatic conversion of Investor C Shares to Investor A Shares is not a taxable event for Federal income tax purposes. Please consult your Financial Intermediary for additional information.
Shareholders should retain this Supplement for future reference.
PR-C-0818SUP
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