Transcription
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 FundBlackRock California Municipal Series TrustBlackRock California Municipal OpportunitiesFundBlackRock Capital Appreciation Fund, Inc.BlackRock Emerging Markets Fund, Inc.BlackRock Equity Dividend FundBlackRock EuroFundBlackRock Financial Institutions Series TrustBlackRock Summit Cash Reserves FundBlackRock FundsSMBlackRock Advantage Emerging Markets FundBlackRock Advantage ESG Emerging MarketsEquity FundBlackRock Advantage ESG International EquityFundBlackRock Advantage ESG U.S. Equity FundBlackRock Advantage International FundBlackRock Advantage Large Cap Growth FundBlackRock Advantage Small Cap Core FundBlackRock Advantage Small Cap Growth FundBlackRock China A Opportunities FundBlackRock Commodity Strategies FundBlackRock Energy Opportunities FundBlackRock Global Impact FundBlackRock Global Long/Short Equity FundBlackRock Health Sciences OpportunitiesPortfolioBlackRock High Equity Income FundBlackRock International Dividend FundBlackRock International Impact FundBlackRock Mid-Cap Growth Equity PortfolioBlackRock Real Estate Securities FundBlackRock Short Obligations FundBlackRock Tactical Opportunities FundBlackRock Technology Opportunities FundBlackRock Total Emerging Markets FundBlackRock Total Factor FundBlackRock U.S. Impact FundiShares Developed Real Estate Index FundiShares Edge MSCI Min Vol EAFE Index FundiShares Edge MSCI Min Vol USA Index FundiShares Edge MSCI Multifactor Intl Index FundiShares Edge MSCI Multifactor USA IndexFundiShares Municipal Bond Index FundiShares Russell Mid-Cap Index FundiShares Russell Small/Mid-Cap Index FundiShares Short-Term TIPS Bond Index FundiShares Total U.S. Stock Market Index FundBlackRock Funds IIBlackRock 20/80 Target Allocation FundBlackRock 40/60 Target Allocation FundBlackRock 60/40 Target Allocation FundBlackRock 80/20 Target Allocation FundBlackRock Dynamic High Income PortfolioBlackRock Global Dividend PortfolioBlackRock Managed Income FundBlackRock Multi-Asset Income PortfolioBlackRock Retirement Income 2030 FundBlackRock Retirement Income 2040 FundBlackRock Funds IIIBlackRock LifePath Index Retirement FundBlackRock LifePath Index 2025 FundBlackRock LifePath Index 2030 FundBlackRock LifePath Index 2035 FundBlackRock LifePath Index 2040 FundBlackRock LifePath Index 2045 FundBlackRock LifePath Index 2050 FundBlackRock LifePath Index 2055 FundBlackRock LifePath Index 2060 FundBlackRock LifePath Index 2065 FundiShares MSCI Total International Index FundiShares Russell 1000 Large-Cap Index FundiShares S&P 500 Index FundiShares U.S. Aggregate Bond Index FundBlackRock Funds IVBlackRock Global Long/Short Credit FundBlackRock Systematic ESG Bond FundBlackRock Systematic Multi-Strategy FundBlackRock Funds VBlackRock Core Bond PortfolioBlackRock Emerging Markets Bond FundBlackRock Emerging Markets FlexibleDynamic Bond Portfolio
BlackRock Floating Rate Income PortfolioBlackRock GNMA PortfolioBlackRock High Yield Bond PortfolioBlackRock Income FundBlackRock Inflation Protected Bond PortfolioBlackRock Low Duration Bond PortfolioBlackRock Strategic Income OpportunitiesPortfolioBlackRock U.S. Government Bond PortfolioBlackRock Multi-State Municipal Series TrustBlackRock New Jersey Municipal Bond FundBlackRock New York Municipal OpportunitiesFundBlackRock Pennsylvania Municipal Bond FundBlackRock Municipal Bond Fund, Inc.BlackRock High Yield Municipal FundBlackRock National Municipal FundBlackRock Short-Term Municipal FundBlackRock Funds VIBlackRock CoreAlpha Bond FundBlackRock Municipal Series TrustBlackRock Strategic Municipal OpportunitiesFundBlackRock Global Allocation Fund, Inc.BlackRock Index Funds, Inc.iShares MSCI EAFE International Index FundiShares Russell 2000 Small-Cap Index FundBlackRock Natural Resources TrustBlackRock Series, Inc.BlackRock International FundBlackRock Large Cap Focus Growth Fund, Inc.BlackRock Strategic Global Bond Fund, Inc.BlackRock Large Cap Series Funds, Inc.BlackRock Advantage Large Cap Core FundBlackRock Advantage Large Cap Value FundBlackRock Event Driven Equity FundManaged Account SeriesBlackRock GA Disciplined Volatility EquityFundBlackRock GA Dynamic Equity FundBlackRock Latin America Fund, Inc.Managed Account Series IIBlackRock U.S. Mortgage PortfolioBlackRock Long-Horizon Equity FundBlackRock Mid Cap Dividend Series, Inc.BlackRock Mid Cap Dividend Fund(each, a “Fund” and collectively, the “Funds”)Supplement dated November 23, 2020 to the Institutional Shares Summary Prospectus of each Fund (each,a “Summary Prospectus”), as supplemented to date-2-
Effective immediately, each Summary Prospectus is amended as follows:In the section of each Summary Prospectus entitled “Purchase and Sale of Fund Shares,” the InstitutionalShares column of the table is deleted in its entirety and replaced with the following:Institutional SharesMinimum Initial InvestmentThere is no minimum initial investment for: Employer-sponsored retirement plans (not includingSEP IRAs, SIMPLE IRAs or SARSEPs), statesponsored 529 college savings plans, collective trustfunds, investment companies or other pooled investmentvehicles, unaffiliated thrifts and unaffiliated banks andtrust companies, each of which may purchase shares ofthe Fund through a Financial Intermediary that hasentered into an agreement with the Fund’s distributor topurchase such shares. Clients of Financial Intermediaries that: (i) charge suchclients a fee for advisory, investment consulting, orsimilar services or (ii) have entered into an agreementwith the Fund’s distributor to offer Institutional Sharesthrough a no-load program or investment platform. Clients investing through a self-directed IRA brokerageaccount program sponsored by a retirement plan recordkeeper, provided that such program offers only mutualfund options and that the program maintains an accountwith the Fund on an omnibus basis. 2 million for individuals and “Institutional Investors,”which include, but are not limited to, endowments,foundations, family offices, local, city, and stategovernmental institutions, corporations and insurancecompany separate accounts who may purchase shares of theFund through a Financial Intermediary that has entered intoan agreement with the Fund’s distributor to purchase suchshares. 1,000 for: Clients investing through Financial Intermediaries thatoffer such shares on a platform that charges atransaction based sales commission outside of the Fund. Minimum Additional InvestmentTax-qualified accounts for insurance agents that areregistered representatives of an insurance company’sbroker-dealer that has entered into an agreement withthe Fund’s distributor to offer Institutional Shares, andthe family members of such persons.No subsequent minimum.Shareholders should retain this Supplement for future reference.SPRO-PSFS-1120SUP-3-
BlackRock Advantage Global Fund, Inc.BlackRock Allocation Target SharesBATS: Series C PortfolioBATS: Series S PortfolioBlackRock Asian Dragon Fund, Inc.BlackRock LifePath Smart Beta 2040 FundBlackRock LifePath Smart Beta 2045 FundBlackRock LifePath Smart Beta 2050 FundBlackRock LifePath Smart Beta 2055 FundBlackRock LifePath Smart Beta 2060 FundBlackRock LifePath Smart Beta 2065 FundBlackRock Managed Income FundBlackRock Multi-Asset Income PortfolioBlackRock Balanced Capital Fund, Inc.BlackRock Basic Value Fund, Inc.BlackRock Bond Fund, Inc.BlackRock Total Return FundBlackRock Emerging Markets Fund, Inc.BlackRock Equity Dividend FundBlackRock EuroFundBlackRock FundsSMBlackRock Advantage Emerging Markets FundBlackRock Advantage International FundBlackRock Commodity Strategies FundBlackRock Energy Opportunities FundBlackRock Global Impact FundBlackRock Global Long/Short Equity FundBlackRock Health Sciences OpportunitiesPortfolioBlackRock High Equity Income FundBlackRock International Dividend FundBlackRock International Impact FundBlackRock Tactical Opportunities FundBlackRock Technology Opportunities FundBlackRock Total Emerging Markets FundBlackRock Total Factor FundBlackRock U.S. Impact FundiShares Developed Real Estate Index FundiShares Edge MSCI Min Vol EAFE Index FundiShares Edge MSCI Multifactor Intl Index FundBlackRock Funds IIBlackRock 20/80 Target Allocation FundBlackRock 40/60 Target Allocation FundBlackRock 60/40 Target Allocation FundBlackRock 80/20 Target Allocation FundBlackRock Dynamic High Income PortfolioBlackRock Global Dividend PortfolioBlackRock LifePath Smart Beta RetirementFundBlackRock LifePath Smart Beta 2025 FundBlackRock LifePath Smart Beta 2030 FundBlackRock LifePath Smart Beta 2035 FundBlackRock Funds IIIBlackRock LifePath Dynamic RetirementFundBlackRock LifePath Dynamic 2025 FundBlackRock LifePath Dynamic 2030 FundBlackRock LifePath Dynamic 2035 FundBlackRock LifePath Dynamic 2040 FundBlackRock LifePath Dynamic 2045 FundBlackRock LifePath Dynamic 2050 FundBlackRock LifePath Dynamic 2055 FundBlackRock LifePath Dynamic 2060 FundBlackRock LifePath Dynamic 2065 FundBlackRock LifePath Index Retirement FundBlackRock LifePath Index 2025 FundBlackRock LifePath Index 2030 FundBlackRock LifePath Index 2035 FundBlackRock LifePath Index 2040 FundBlackRock LifePath Index 2045 FundBlackRock LifePath Index 2050 FundBlackRock LifePath Index 2055 FundBlackRock LifePath Index 2060 FundBlackRock LifePath Index 2065 FundiShares MSCI Total International Index FundBlackRock Funds IVBlackRock Global Long/Short Credit FundBlackRock Systematic ESG Bond FundBlackRock Systematic Multi-Strategy FundBlackRock Funds VBlackRock Core Bond PortfolioBlackRock Emerging Markets Bond FundBlackRock Emerging Markets FlexibleDynamic Bond PortfolioBlackRock Floating Rate Income PortfolioBlackRock High Yield Bond PortfolioBlackRock Income FundBlackRock Inflation Protected Bond PortfolioBlackRock Low Duration Bond PortfolioBlackRock Strategic Income OpportunitiesPortfolioBlackRock U.S. Government Bond PortfolioBlackRock Funds VIBlackRock CoreAlpha Bond Fund
BlackRock Series, Inc.BlackRock International FundBlackRock Global Allocation Fund, Inc.BlackRock Index Funds, Inc.iShares MSCI EAFE International Index FundBlackRock Strategic Global Bond Fund, Inc.BlackRock Variable Series Funds, Inc.BlackRock 60/40 Target Allocation ETF V.I.FundBlackRock Basic Value V.I. FundBlackRock Equity Dividend V.I. FundBlackRock Global Allocation V.I. FundBlackRock International Index V.I. FundBlackRock International V.I. FundBlackRock Large Cap Focus Growth V.I. FundBlackRock Managed Volatility V.I. FundBlackRock Large Cap Focus Growth Fund, Inc.BlackRock Large Cap Series Funds, Inc.BlackRock Event Driven Equity FundBlackRock Latin America Fund, Inc.BlackRock Long-Horizon Equity FundBlackRock Mid Cap Dividend Series, Inc.BlackRock Mid Cap Dividend FundBlackRock Variable Series Funds II, Inc.BlackRock High Yield V.I. FundBlackRock Total Return V.I. FundBlackRock U.S. Government Bond V.I. FundBlackRock Natural Resources TrustBlackRock Series Fund, Inc.BlackRock Balanced Capital PortfolioBlackRock Global Allocation PortfolioManaged Account SeriesBlackRock GA Disciplined Volatility EquityFundBlackRock GA Dynamic Equity FundBlackRock Series Fund II, Inc.BlackRock High Yield PortfolioBlackRock U.S. Government Bond Portfolio(each, a “Fund” and collectively, the “Funds”)Supplement dated June 8, 2020 to the Summary Prospectus(es), as applicable, and Prospectus(es) of eachFundEffective immediately, the Summary Prospectus(es), as applicable, and Prospectus(es) of each Fund areamended as follows:The following is added to the risk factor entitled “Foreign Securities Risk” in the section of each Fund’sSummary Prospectus(es), as applicable, entitled “Key Facts About [the Fund] — Principal Risks ofInvesting in the Fund” or “Key Facts About [the Fund] — Principal Risks of Investing in the Fund, theUnderlying Funds and/or the ETFs” and the section of each Fund’s Prospectus(es) entitled “FundOverview — Key Facts About [the Fund] — Principal Risks of Investing in the Fund” or “Fund Overview— Key Facts About [the Fund] — Principal Risks of Investing in the Fund, the Underlying Funds and/orthe ETFs,” as applicable: The Fund’s claims to recover foreign withholding taxes may not be successful, and if the likelihood ofrecovery of foreign withholding taxes materially decreases, due to, for example, a change in taxregulation or approach in the foreign country, accruals in the Fund’s net asset value for such refundsmay be written down partially or in full, which will adversely affect the Fund’s net asset value.The following is added to the risk factor entitled “Foreign Securities Risk” in the section of each Fund’sProspectus(es) entitled “Details About the Fund[s] — Investment Risks — Principal Risks of Investing inthe Fund[s],” “Details About the Fund[s] — Investment Risks — Principal Risks of Investing in theUnderlying ETFs,” “Details About the Fund[s] — Investment Risks — Principal Risks of Investing in the2
Funds and the Underlying Funds,” “Details About the Fund[s] — Investment Risks — Principal Risks ofInvesting in the Fund, the Underlying Funds and/or the ETFs,” or “Details About the Fund[s] — AFurther Discussion of Risk Factors — Principal Risks of the Underlying Funds,” as applicable:Withholding Tax Reclaims Risk. The Fund may file claims to recover foreign withholding taxes on dividend andinterest income (if any) received from issuers in certain countries and capital gains on the disposition of stocks orsecurities where such withholding tax reclaim is possible. Whether or when the Fund will receive a withholdingtax refund is within the control of the tax authorities in such countries. Where the Fund expects to recoverwithholding taxes, the net asset value of the Fund generally includes accruals for such tax refunds. The Fundregularly evaluates the probability
BlackRock Advantage Global Fund, Inc. BlackRock Advantage U.S. Total Market Fund, Inc. BlackRock Asian Dragon Fund, Inc. BlackRock Balanced Capital Fund, Inc.
