The BlackRock registered closed-end funds (each a "Fund" and
collectively, the "Funds") announced today that Ms. Kathleen F.
Feldstein and Mr. James T. Flynn will retire from their positions on the
Board of Directors/Trustees (the “Board”) of each Fund, effective
December 31, 2015.
In addition, the Funds announced today that the Board of each Fund has
taken steps towards filling the vacancies created by Ms. Feldstein’s and
Mr. Flynn’s retirements. The independent directors/trustees of the Board
nominated and the full Board appointed Ms. Cynthia L. Egan, as a
director/trustee effective April 1, 2016 and Ms. Catherine A. Lynch, as
a director/trustee effective July 1, 2016. Ms. Egan and Ms. Lynch have
each agreed to serve as an independent director/trustee of each Fund as
of their respective effective date.
About BlackRock
BlackRock is a leader in investment management, risk management and
advisory services for institutional and retail clients worldwide. At
September 30, 2015, BlackRock’s AUM was approximately $4.506
trillion. BlackRock helps clients meet their goals and overcome
challenges with a range of products that include separate accounts,
mutual funds, iShares® (exchange-traded funds), and
other pooled investment vehicles. BlackRock also offers risk management,
advisory and enterprise investment system services to a broad base of
institutional investors through BlackRock Solutions®. Headquartered
in New York City, as of September 30, 2015, the firm had approximately
12,900 employees in more than 30 countries and a major presence in key
global markets, including North and South America, Europe, Asia,
Australia and the Middle East and Africa. For additional information,
please visit the Company’s website at www.blackrock.com
| Twitter: @blackrock_news | Blog: www.blackrockblog.com
| LinkedIn: www.linkedin.com/company/blackrock
Availability of Fund Updates
BlackRock will update performance and certain other data for the Funds
on a monthly basis on its website in the “Closed-end Funds” section of www.blackrock.com
as well as certain other material information as necessary from time to
time. Investors and others are advised to check the website for updated
performance information and the release of other material information
about the Funds. This reference to BlackRock’s website is intended to
allow investors public access to information regarding the Funds and
does not, and is not intended to, incorporate BlackRock’s website in
this release.
Forward-Looking Statements
This press release, and other statements that BlackRock or a Fund may
make, may contain forward-looking statements within the meaning of the
Private Securities Litigation Reform Act, with respect to aFund’s or
BlackRock’s future financial or business performance, strategies or
expectations. Forward-looking statements are typically identified by
words or phrases such as “trend,” “potential,” “opportunity,”
“pipeline,” “believe,” “comfortable,” “expect,” “anticipate,” “current,”
“intention,” “estimate,” “position,” “assume,” “outlook,” “continue,”
“remain,” “maintain,” “sustain,” “seek,” “achieve,” and similar
expressions, or future or conditional verbs such as “will,” “would,”
“should,” “could,” “may” or similar expressions.
BlackRock cautions that forward-looking statements are subject to
numerous assumptions, risks and uncertainties, which change over time.
Forward-looking statements speak only as of the date they are made, and
BlackRock assumes no duty to and does not undertake to update
forward-looking statements. Actual results could differ materially from
those anticipated in forward-looking statements and future results could
differ materially from historical performance.
With respect to the Funds, the following factors, among others, could
cause actual events to differ materially from forward-looking statements
or historical performance: (1) changes and volatility in political,
economic or industry conditions, the interest rate environment, foreign
exchange rates or financial and capital markets, which could result in
changes in demand for the Funds or in a Fund’s net asset value; (2) the
relative and absolute investment performance of a Fund and its
investments; (3) the impact of increased competition; (4) the
unfavorable resolution of any legal proceedings; (5) the extent and
timing of any distributions or share repurchases; (6) the impact, extent
and timing of technological changes; (7) the impact of legislative and
regulatory actions and reforms, including the Dodd-Frank Wall Street
Reform and Consumer Protection Act, and regulatory, supervisory or
enforcement actions of government agencies relating to a Fund or
BlackRock, as applicable; (8) terrorist activities, international
hostilities and natural disasters, which may adversely affect the
general economy, domestic and local financial and capital markets,
specific industries or BlackRock; (9) BlackRock’s ability to attract and
retain highly talented professionals; (10) the impact of BlackRock
electing to provide support to its products from time to time; and (11)
the impact of problems at other financial institutions or the failure or
negative performance of products at other financial institutions.
Annual and Semi-Annual Reports and other regulatory filings of the Funds
with the Securities and Exchange Commission (“SEC”) are accessible on
the SEC's website at www.sec.gov
and on BlackRock’s website at www.blackrock.com,
and may discuss these or other factors that affect the Funds. The
information contained on BlackRock’s website is not a part of this press
release.
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