Transcription
BLACKROCK FUNDS IIIiShares S&P 500 Index Fund(the “Fund”)Supplement dated March 10, 2021 to the Statement of Additional Information (“SAI”)of the Fund, dated April 29, 2020, as supplemented to dateEffective immediately, the following changes are made to the Fund’s SAI:The section entitled “Management, Advisory and Other Service Arrangements — Information Regardingthe Portfolio Managers” is revised as follows:The first paragraph is deleted in its entirety and replaced with the following:Alan Mason, Suzanne Henige, CFA, Jennifer Hsui, CFA, and Amy Whitelaw are the portfolio managers andare jointly and primarily responsible for the day-to-day management of the Master Portfolio’s portfolio.The sub-section entitled “Other Funds and Accounts Managed” is deleted in its entirety and replaced withthe following:The following table sets forth information about funds and accounts other than the Fund for which theportfolio managers are primarily responsible for the day-to-day portfolio management as of December 31, 2019.Name ofPortfolioManagerNumber of Other Accounts Managedand Assets by Account OtherCompaniesVehiclesAccountsJennifer Hsui,CFA325 1.46 TrillionAlan Mason335 1.47 Trillion5736 74.87 Billion 29.03 Billion0 0125 955.20 Million 24.20 Billion0 00 00 00 0Suzanne Henige,821CFA* 117.25 Billion 663.05 Million0 00 00 00 0Amy Whitelaw0 00 00 00 0*343 1.47 Trillion0 0Number of Other Accounts and Assetsfor Which Advisory Fee tment InvestmentOtherCompaniesVehiclesAccounts107 34.84 BillionInformation provided is as of January 31, 2020.The first paragraph of the sub-section entitled “Portfolio Manager Compensation Overview” is deleted inits entirety and replaced with the following:The discussion below describes the compensation of Mr. Mason and Mses. Hsui and Whitelaw as ofDecember 31, 2019 and the compensation of Ms. Henige as of January 31, 2020.The last sentence of the first paragraph of the sub-section entitled “Discretionary Incentive Compensation”is deleted in its entirety and replaced with the following:The performance of Mr. Mason and Mses. Henige, Hsui and Whitelaw is not measured against a specific benchmark.NM0721U-1707185-1/221
The first paragraph of the sub-section entitled “Portfolio Manager Beneficial Holdings” is deleted in itsentirety and replaced with the following:As of December 31, 2019, Mr. Mason and Mses. Hsui and Whitelaw did not beneficially own any shares ofthe Fund. As of January 31, 2020, Ms. Henige did not beneficially own any shares of the Fund.Shareholders should retain this Supplement for future reference.SAI-SP500-0321SUP2NM0721U-1707185-2/221
BlackRock Advantage Global Fund, Inc.BlackRock Advantage U.S. Total Market Fund,Inc.BlackRock Allocation Target SharesBATS: Series A PortfolioBATS: Series C PortfolioBATS: Series E PortfolioBATS: Series M PortfolioBATS: Series P PortfolioBATS: Series S PortfolioBlackRock 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 Global Long/Short Equity FundBlackRock Health Sciences OpportunitiesPortfolioBlackRock High Equity Income FundBlackRock International Dividend FundBlackRock International Impact FundBlackRock Liquid Environmentally Aware 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 FundBlackRock Wealth Liquid EnvironmentallyAware 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 Emerging Markets Fund, Inc.BlackRock Equity Dividend FundBlackRock EuroFundBlackRock Financial Institutions Series TrustBlackRock Summit Cash Reserves FundBlackRock FundsSMBlackRock Advantage Emerging Markets FundBlackRock 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 Defensive Advantage EmergingMarkets FundBlackRock Defensive Advantage InternationalFundBlackRock Defensive Advantage U.S. FundBlackRock Energy Opportunities FundBlackRock Exchange PortfolioBlackRock Global Impact 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 Cash Funds: InstitutionalBlackRock Cash Funds: TreasuryBlackRock 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 FundNM0721U-1707185-3/221
BlackRock LifePath Dynamic 2065 FundBlackRock LifePath ESG Index RetirementFundBlackRock LifePath ESG Index 2025 FundBlackRock LifePath ESG Index 2030 FundBlackRock LifePath ESG Index 2035 FundBlackRock LifePath ESG Index 2040 FundBlackRock LifePath ESG Index 2045 FundBlackRock LifePath ESG Index 2050 FundBlackRock LifePath ESG Index 2055 FundBlackRock LifePath ESG Index 2060 FundBlackRock LifePath ESG Index 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 FundiShares Russell 1000 Large-Cap Index FundiShares S&P 500 Index FundiShares U.S. Aggregate Bond Index FundBlackRock Index Funds, Inc.iShares MSCI EAFE International Index FundiShares Russell 2000 Small-Cap Index FundBlackRock Large Cap Focus Growth Fund, Inc.BlackRock Large Cap Series Funds, Inc.BlackRock Advantage Large Cap Core FundBlackRock Advantage Large Cap Value FundBlackRock Event Driven Equity FundBlackRock Latin America Fund, Inc.BlackRock Liquidity FundsCalifornia Money FundFederal Trust FundFedFundMuniCashMuniFundNew York Money FundTempCashTempFundT-FundTreasury Trust FundBlackRock Long-Horizon Equity FundBlackRock Mid Cap Dividend Series, Inc.BlackRock Mid Cap Dividend FundBlackRock Funds IVBlackRock Global Long/Short Credit FundBlackRock Systematic ESG Bond FundBlackRock Systematic Multi-Strategy FundBlackRock Multi-State Municipal Series TrustBlackRock New Jersey Municipal Bond FundBlackRock New York Municipal OpportunitiesFundBlackRock Pennsylvania Municipal Bond FundBlackRock Funds VBlackRock Core Bond PortfolioBlackRock Emerging Markets Bond FundBlackRock Emerging Markets FlexibleDynamic Bond PortfolioBlackRock 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 Municipal Bond Fund, Inc.BlackRock High Yield Municipal FundBlackRock National Municipal FundBlackRock Short-Term Municipal FundBlackRock Municipal Series TrustBlackRock Strategic Municipal OpportunitiesFundBlackRock Natural Resources TrustBlackRock Series Fund, Inc.BlackRock Advantage Large Cap Core PortfolioBlackRock Balanced Capital PortfolioBlackRock Capital Appreciation PortfolioBlackRock Global Allocation PortfolioBlackRock Funds VIBlackRock CoreAlpha Bond FundBlackRock Global Allocation Fund, Inc.-2-NM0721U-1707185-4/221
BlackRock Global Allocation V.I. FundBlackRock Government Money Market V.I.FundBlackRock International Index V.I. FundBlackRock International V.I. FundBlackRock Large Cap Focus Growth V.I. FundBlackRock Managed Volatility V.I. FundBlackRock S&P 500 Index V.I. FundBlackRock Small Cap Index V.I. FundBlackRock Government Money MarketPortfolioBlackRock Series Fund II, Inc.BlackRock High Yield PortfolioBlackRock U.S. Government Bond PortfolioBlackRock Series, Inc.BlackRock International FundBlackRock Variable Series Funds II, Inc.BlackRock High Yield V.I. FundBlackRock Total Return V.I. FundBlackRock U.S. Government Bond V.I. FundBlackRock Strategic Global Bond Fund, Inc.BlackRock Variable Series Funds, Inc.BlackRock 60/40 Target Allocation ETF V.I.FundBlackRock Advantage Large Cap Core V.I.FundBlackRock Advantage Large Cap Value V.I.FundBlackRock Advantage U.S. Total Market V.I.FundBlackRock Basic Value V.I. FundBlackRock Capital Appreciation V.I. FundBlackRock Equity Dividend V.I. FundManaged Account SeriesBlackRock GA Disciplined Volatility EquityFundBlackRock GA Dynamic Equity FundManaged Account Series IIBlackRock U.S. Mortgage PortfolioReady Assets Government Liquidity Fund(each, a “Fund” and collectively, the “Funds”)Supplement dated January 14, 2021 to the Statement of Additional Information of each FundEach Fund’s Statement of Additional Information is amended as follows:The list in the section entitled “Purchase of Shares — Additional Payments by BlackRock — D. ServiceOrganizations Receiving Additional Payments” in Part II, or in the section entitled “Miscellaneous —Additional Payments by BlackRock — D. Service Organizations Receiving Additional Payments,”“Investment Advisory Arrangements — Additional Payments by BlackRock — D. Service OrganizationsReceiving Additional Payments” or “Investment Adviser and Other Service Providers — AdditionalPayments by BlackRock — D. Service Organizations Receiving Additional Payments,” as applicable, ofeach Fund’s current Statement of Additional Information is deleted in its entirety and replaced with thefollowing:AccuTech Systems CorporationADP Broker-Dealer, Inc.Advisor Group, Inc.Alight Solutions LLCAllianz Life Financial Services, LLCAllianz Life Insurance Company of New YorkAllianz Life Insurance Company of North AmericaAmerican Enterprise Investment Services, Inc.American Fidelity Assurance CompanyAmerican Fidelity Securities, Inc.American General Life Insurance CompanyAmerican United Life Insurance CompanyAnnuity Investors Life Insurance CompanyAscensus Broker Dealer Services, Inc.Ascensus, Inc.Bank of America, N.A.Bank of New York Mellon, TheBarclays Capital Inc.BB&T Retirement & Institutional ServicesBenefit Plans Administrative Services, Inc.Benefit Trust CompanyBeta Capital Securities LLCBlackRock Advisors, LLCBMO Capital Markets Corp.-3-NM0721U-1707185-5/221
BNP Paribas Investment Partners UK LimitedBNY Mellon, N.A.BOKF, N.A.Brighthouse Life Insurance CompanyBrighthouse Life Insurance Company of NYBroadridge Business Process Outsourcing, LLCBrown Brothers Harriman & Co.Cabrera CapitalCetera Advisor Networks LLCCetera Advisors LLCCetera Financial GroupCetera Financial Specialists LLCCetera Investment Services LLCCharles Schwab & Co., Inc.Charles Schwab Trust BankChicago Mercantile Exchange Inc.CIM Investment Management, Inc.Citco Securities, LLCCitiBank, National AssociationCitigroup Global Markets, Inc.Citizens BankCitizens Business BankCME Shareholder Servicing LLCCMFG Life Insurance CompanyComerica BankCommonwealth Financial NetworkComputershare Trust CompanyConduent HR Services, LLCCredit Suisse Securities (USA) LLCCSC Trust Company of DelawareDelaware Life Insurance CompanyDelaware Life Insurance Company of New YorkDeutsche Bank AGDeutsche Bank Trust Company AmericasDigital Retirement Solutions, Inc.Dunham & Associates Investment Counsel, Inc.Edward D. Jones & Co., L.P.Empire Fidelity Investments Life InsuranceCompanyEnvestnet Asset Management, Inc.Equitable Advisors, LLCEquitable Life Insurance CompanyE*trade Savings BankFederal Deposit Insurance CorporationFidelity Brokerage Services LLCFidelity Investments Institutional OperationsCompany, Inc.Fidelity Investments Life Insurance CompanyFifth Third Securities, Inc.First Allied Securities, Inc.First Command Financial Planning, Inc.First Hawaiian BankFirst Republic BankFirst Security Benefit Life Insurance and AnnuityCompany of New YorkFirst Symetra National Life Insurance Company ofNew YorkFIS Brokerage & Securities Services LLCForethought Life Insurance CompanyFSC Securities CorporationGenworth Life and Annuity Insurance CompanyGenworth Life Insurance Company of New YorkGlobal Atlantic Distributors, LLCGoldman Sachs & Co.Great-West Financial Retirement Plan Services, LLCGreat-West Life & Annuity Insurance CompanyGreat-West Life & Annuity Insurance Company ofNew YorkGWFS Equities, Inc.Hancock Whitney BankHartford Funds Management CompanyHartford Securities Distribution Company, Inc.Hazeltree Fund Services, Inc.Hightower Securities, Inc.Hilltop Securities Inc.HSBC Bank USA, N.A.Huntington Investment Company, TheInstitutional Cash Distributors, LLCIntegrity Life Insurance CompanyInvestment Trust of CaliforniaJ.P. Morgan Securities LLCJefferies LLCJefferson National Life Insurance CompanyJefferson National Life Insurance Company of NewYorkJohn Hancock Life Insurance Company (U.S.A.)John Hancock Life Insurance Company of New YorkJohn Hancock Trust CompanyJPMorgan Chase Bank, N.A.Kestra Investment Services, LLCLincoln Financial Advisors CorporationLincoln Financial Securities CorporationLincoln Life & Annuity Company of New YorkLincoln National Life Insurance CompanyLincoln Retirement Services LLCLombard International Life Assurance CompanyLPL Financial LLCM&T Securities Inc.Manufacturers and Traders Trust CompanyMassachusetts Mutual Life Insurance CompanyMembers Life Insurance CompanyMerrill Lynch, Pierce, Fenner & Smith IncorporatedMetavante CorporationMetropolitan Life Insurance Company-4-NM0721U-1707185-6/221
Mid Atlantic Clearing & Settlement CorporationMidland Life Insurance CompanyMinnesota Life Insurance CompanyMischler Financial GroupMizuho Securities USA Inc.MML Distributors, LLCMML Investors Services, LLCMorgan Stanley & Co. LLCMorgan Stanley Distribution, Inc.Morgan Stanley Smith Barney LLCMUFG Union Bank, National AssociationNational Financial Services LLCNational Integrity Life Insurance CompanyNational Life Insurance CompanyNationwide Financial Services, Inc.Nationwide Fund Distributors LLCNationwide Retirement SolutionsNCB Federal Savings BankNew England Pension Plan Systems, LLCNew York Life Insurance and Annuity CorporationNewport Retirement Services, Inc.Northbrook Bank & Trust CompanyNorthern Trust Company, TheNorthwestern Mutual Investment Services, LLCNYLife Distributors LLCOppenheimer & Co., Inc.Orion Advisor Services, LLCPacific Life & Annuity CompanyPacific Life Insurance CompanyPacific Select Distributors, LLCPark Avenue Securities LLCPershing LLCPFPC Inc.Piper Jaffray & Co.PNC Bank, National AssociationPNC Capital Markets LLCPNC Investments LLCPrincipal Life Insurance CompanyProtective Life Insurance CompanyProtective Life and Annuity Insurance CompanyPruco Life Insurance CompanyPruco Life Insurance Company of New JerseyPrudential Annuities Distributors, Inc.Prudential Insurance Company of AmericaRaymond James & Associates, Inc.Raymond James Financial Services, Inc.RBC Capital Markets, LLCRegions BankReliance Trust CompanyReliastar Life Insurance CompanyReliastar Life Insurance Company of New YorkRiverSource Distributors, Inc.RiverSource Life Insurance Co. of New YorkRiverSource Life Insurance CompanyRoyal Alliance Associates, Inc.SagePoint Financial, Inc.Sammons Retirement Solutions, Inc.Santander Bank, N.A.Saturna Trust CompanySecurities Finance Trust CompanySecurities America, Inc.Security Benefit Life Insurance CompanySecurity Financial Resources, Inc.Security Life of Denver Insurance CompanySEI Private Trust CompanySG Americas Securities, LLCSilicon Valley BankStandard Insurance CompanyState Farm Life and Accident Assurance CompanyState Farm Life Insurance CompanyState Farm VP Management Corp.State Street Global Markets, LLCStifel, Nicolaus & Company, IncorporatedSummit Brokerage Services, Inc.SunTrust BankSVB Asset ManagementSymetra Life Insurance CompanySyntal Capital Partners, LLCT. Rowe Price Retirement Plan Services, Inc.Talcott Resolution Life and Annuity InsuranceCompanyTalcott Resolution Life Insurance CompanyTD Ameritrade Clearing, Inc.TD Ameritrade, Inc.TD Prime Services (US) LLCTeachers Insurance and Annuity Association ofAmericaTransamerica Financial Life Insurance CompanyTransamerica Life Insurance CompanyTreasury BrokerageTriad Advisors, LLCU.S. Bancorp Investments, Inc.U.S. Bank, National AssociationUBATCO & Co.UBS Financial Services, Inc.UBS Securities LLCUMB Bank, National AssociationUnited States Life Insurance Company in the City ofNew York, TheVALIC Retirement Services CompanyVanguard Group, Inc., TheVanguard Marketing CorporationVoya Financial Advisors, Inc.Voya Financial Partners, LLC-5-NM0721U-1707185-7/221
Voya Institutional Plan Services, LLCVoya Insurance and Annuity CompanyVoya Investments Distributor, LLCVoya Retirement Insurance and Annuity CompanyWaddell & Reed, Inc.Wells Fargo Advisors, LLCWells Fargo Advisors Financial Network, LLCWells Fargo Bank, N.A.Wells Fargo Clearing Services, LLCWells Fargo Investments, LLCWells Fargo Securities, LLCWilmington Trust, National AssociationWoodbury Financial Services, Inc.ZB, National AssociationShareholders should retain this Supplement for future 21
BlackRock Advantage Global Fund, Inc.BlackRock Advantage U.S. Total Market Fund,Inc.BlackRock Asian Dragon Fund, Inc.BlackRock Balanced Capital Fund, Inc.iShares 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 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 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 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 Short Obligations FundBlackRock Tactical Opportunities FundBlackRock Technology Opportunities FundBlackRock Total Factor FundBlackRock U.S. Impact FundiShares Developed Real Estate Index FundiShares Edge MSCI Min Vol EAFE 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 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 ESG Index RetirementFundBlackRock LifePath ESG Index 2025 FundBlackRock LifePath ESG Index 2030 FundBlackRock LifePath ESG Index 2035 FundBlackRock LifePath ESG Index 2040 FundBlackRock LifePath ESG Index 2045 FundBlackRock LifePath ESG Index 2050 FundBlackRock LifePath ESG Index 2055 FundBlackRock LifePath ESG Index 2060 FundBlackRock LifePath ESG Index 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 FundNM0721U-1707185-9/221
BlackRock Large Cap Series Funds, Inc.BlackRock Advantage Large Cap Core FundBlackRock Advantage Large Cap Value 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 Latin America Fund, Inc.BlackRock Funds VBlackRock Core Bond PortfolioBlackRock Emerging Markets Bond FundBlackRock Emerging Markets FlexibleDynamic Bond PortfolioBlackRock 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 Funds VIBlackRock CoreAlpha Bond FundBlackRock Series, Inc.BlackRock International FundBlackRock Global Allocation Fund, Inc.BlackRock Strategic Global Bond Fund, Inc.BlackRock Index Funds, Inc.iShares MSCI EAFE International Index FundiShares Russell 2000 Small-Cap Index FundManaged Account SeriesBlackRock GA Disciplined Volatility EquityFundBlackRock GA Dynamic Equity FundBlackRock Mid Cap Dividend Series, Inc.BlackRock Mid Cap Dividend FundBlackRock Municipal Bond Fund, Inc.BlackRock High Yield Municipal FundBlackRock National Municipal FundBlackRock Short-Term Municipal FundBlackRock Municipal Series TrustBlackRock Strategic Municipal OpportunitiesFundBlackRock Large Cap Focus Growth Fund, Inc.(each, a “Fund” and collectively, the “Funds”)Supplement dated November 23, 2020 to the Statement of Additional Information (“SAI”) of each Fund,as supplemented to dateEffective immediately, each Fund’s SAI is amended as follows:The first paragraph in the section entitled “Purchase of Shares—Class K Shares” in Part II of each Fund’sSAI is deleted in its entirety and replaced with the following:Certain Funds offer Class K Shares as described in each such Fund’s Prospectus. Class K Shares are availableonly to (i) certain employee benefit plans, such as health savings accounts, and certain employer-sponsoredretirement plans (not including SEP IRAs, SIMPLE IRAs and SARSEPs) (collectively, “Employer-SponsoredRetirement Plans”), (ii) collective trust funds, investment companies and other pooled investment vehicles, eachof which may purchase shares of the Fund through a financial intermediary that has entered into an agreementwith the Distributor to purchase such shares, (iii) “Institutional Investors,” which include but are not limited to,endowments, foundations, family offices, banks and bank trusts, local, city, and state governmental institutions,-2-NM0721U-1707185-10/221
corporations and insurance company separate accounts, each of which may purchase shares of the Fund through afinancial intermediary that has entered into an agreement with the Distributor to purchase such shares, (iv) clientsof private banks that purchase shares of the Fund through a financial intermediary that has entered into anagreement with the Distributor to sell such shares; (v) fee-based advisory platforms of a financial intermediarythat (a) has specifically acknowledged in a written agreement with the Distributor and/or its affiliate(s) that thefinancial intermediary shall offer such shares to fee-based advisory clients through an omnibus account held atthe Fund or (b) transacts in the Fund’s shares through another intermediary that has executed such an agreementand (vi) any other investors who met the eligibility criteria for BlackRock Shares or Class K Shares prior toAugust 15, 2016 and have continually held Class K Shares of the Fund or the respective Predecessor Fund in thesame account since August 15, 2016. The agreement referenced in (iv) above shall appear in a supplementalagreement to any selling, sub-transfer agent, or distribution and marketing agreement.Shareholders should retain this Supplement for future 221
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 Opportunities FundBlackRock Capital Appreciation Fund, Inc.BlackRock Emerging Markets Fund, Inc.BlackRock Equity Dividend FundBlackRock EuroFundBlackRock 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 Opportunities PortfolioBlackRock 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 Index FundiShares 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 Dynamic Retirement FundBlackRock 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 ESG Index Retirement FundBlackRock LifePath ESG Index 2025 FundBlackRock LifePath ESG Index 2030 FundBlackRock LifePath ESG Index 2035 FundBlackRock LifePath ESG Index 2040 FundBlackRock LifePath ESG Index 2045 FundBlackRock LifePath ESG Index 2050 FundBlackRock LifePath ESG Index 2055 FundBlackRock LifePath ESG Index 2060 FundBlackRock LifePath ESG Index 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 FundNM0721U-1707185-12/221
BlackRock 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 Advantage Large Cap Value FundBlackRock Event Driven Equity FundBlackRock Latin America Fund, Inc.BlackRock Long-Horizon Equity FundBlackRock Funds IVBlackRock Global Long/Short Credit FundBlackRock Systematic ESG Bond FundBlackRock Systematic Multi-Strategy FundBlackRock Mid Cap Dividend Series, Inc.BlackRock Mid Cap Dividend FundBlackRock Multi-State Municipal Series TrustBlackRock New Jersey Municipal Bond FundBlackRock New York Municipal Opportunities FundBlackRock Pennsylvania Municipal Bond FundBlackRock Funds VBlackRock Core Bond PortfolioBlackRock Emerging Markets Bond FundBlackRock Emerging Markets Flexible DynamicBond PortfolioBlackRock Floating Rate Income PortfolioBlackRock GNMA PortfolioBlackRock High Yield Bond PortfolioBlack
BLACKROCK FUNDS III iShares S&P 500 Index Fund (the "Fund") Supplement dated March 10, 2021 to the Statement of Additional Information ("SAI") of the Fund, dated April 29,
