BlackRock is seeking to generate income and provide access to
private markets using the “closed” fund structure. Closed-end funds
have long been used for their income potential - for example, the
average closed-end fund yields 6.3%1. Unlike other daily liquid
funds, many closed-end funds can invest in private markets that may
enhance returns by accessing the illiquidity premium. With interest
rates at historic lows and public equity markets reaching all-time
highs, BlackRock believes investors should consider closed-end
funds to help address these investor challenges.
BlackRock today announced the release of quarterly fund
commentaries for BlackRock Innovation and Growth Trust (NYSE:
BIGZ), BlackRock Science and Technology Trust II (NYSE: BSTZ),
BlackRock Health Sciences Trust II (NYSE: BMEZ), and BlackRock
Capital Allocation Trust (NYSE: BCAT) (the “Funds”) for the third
quarter of 2021. Each Fund can invest up to 25% of its portfolio in
private securities. Learn more about each Fund’s performance and
current positioning in its latest commentary:
BlackRock Innovation and Growth Trust (BIGZ): BIGZ
invests in innovative small- and mid-cap public and private
companies along with deploying a tactical single-stock
option-writing strategy to generate income.
Distribution Rate: 6.3% Premium/Discount: -5.7%
Third Quarter 2021 Commentary
BlackRock Science and Technology Trust II (BSTZ): BSTZ
invests in the technology sector by blending “next generation”
technology stocks and private investments with a tactical
single-stock option-writing strategy to generate income.
Distribution Rate: 5.4% Premium/Discount: -3.4%
Third Quarter 2021 Commentary
BlackRock Health Sciences Trust II (BMEZ): BMEZ invests
in the healthcare sector by blending “next generation” healthcare
stocks and private investments along with a tactical single-stock
option-writing strategy to generate income.
Distribution Rate: 6.3% Premium/Discount: -5.0%
Third Quarter 2021 Commentary
BlackRock Capital Allocation Trust (BCAT): BCAT takes an
unconstrained approach with the ability to invest in public and
private markets across different asset classes to generate
income.
Distribution Rate: 6.2% Premium/Discount: -5.9%
Third Quarter 2021 Commentary
1 Source: Lipper. Figure is the average
distribution rate on market price of the entire listed closed-end
fund universe as of 10/31/2021.
All distribution rate and premium discount
data is source by BlackRock as of 11/5/2021. Fiscal year to date
(through 10/31/21) distribution return of capital estimates are as
follows: BIGZ: 100%, BSTZ: 0%, BMEZ: 0%, BCAT: 52%. For more
information please see the closed-end fund section 19 page.
For more information on BlackRock’s closed-end funds, please
visit www.blackrock.com/CEF
Carefully consider the Trust’s investment objective, risk
factors, and charges and expenses before investing. This and other
information can be found in the Trust’s prospectus which may be
obtained by visiting the SEC Edgar database. Read the prospectus
carefully before investing.
About BlackRock
BlackRock’s purpose is to help more and more people experience
financial well-being. As a fiduciary to investors and a leading
provider of financial technology, we help millions of people build
savings that serve them throughout their lives by making investing
easier and more affordable. For additional information on
BlackRock, please visit www.blackrock.com/corporate | Twitter:
@blackrock | 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 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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20211108006027/en/
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