BlackRock Closed-End Funds Announce Changes to their Board of Directors/Trustees
December 31 2014 - 4:00PM
Business Wire
The BlackRock registered closed-end funds (each a "Fund" and
collectively, the "Funds") announced today that Barbara Novick and
John Perlowski have been appointed by the Board of
Directors/Trustees of each Fund to serve as an interested
director/trustee of each of the Funds, effective December 31, 2014.
Also effective on December 31, 2014, Henry Gabbay and Paul Audet
resigned from their positions on the Board of
Directors/Trustees.
Barbara Novick is Vice Chairman of BlackRock and in her current
role, heads BlackRock’s efforts globally on Government Relations
and Public Policy. From the inception of the firm in 1988 to 2008,
Ms. Novick headed the Global Client Group and oversaw global
business development, marketing and client service across equity,
fixed income, liquidity, alternative investment and real estate
products for institutional and individual investors and their
intermediaries worldwide. Ms. Novick is a member of BlackRock's
Global Executive and Global Operating Committees and Corporate Risk
Management Committee and chairs the Government Relations Steering
Committee.
John M. Perlowski, Managing Director, is President of
BlackRock's US Retail Mutual Fund family and manages the Global
Fund Services Group, which is responsible for fund administration,
board management, shareholder services and product operational
infrastructure for BlackRock's commingled funds (registered and
unregistered). Mr. Perlowski is a member of BlackRock’s Global
Operating Committee, New Product Committee, and the Global
Accounting Policy Committee.
About BlackRock
BlackRock is a leader in investment management, risk management
and advisory services for institutional and retail clients
worldwide. At September 30, 2014, BlackRock’s AUM was $4.525
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, 2014, the firm
had approximately 12,100 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
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 a Fund’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.
BlackRock Closed-End Funds1-800-882-0052
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