Definitive Materials Filed by Investment Companies. (497)
December 28 2012 - 4:59PM
Edgar (US Regulatory)
BlackRock Long-Horizon Equity Fund
(the “Fund”)
Supplement dated December 28, 2012
to the Statement of Additional Information
dated February 28, 2012, as amended October 15, 2012
Effective January 1, 2013, the following changes are made
to the Fund’s Statement of Additional Information:
The section entitled “Management and Advisory Arrangements
— Information Regarding the Portfolio Managers” is revised as set forth below.
James Bristow, CFA and Stuart Reeve are the Fund’s portfolio
managers.
Other Funds and Accounts Managed
The following table sets forth information about funds and accounts
other than the Fund for which the Fund’s portfolio managers are primarily responsible for the day-to-day portfolio management
as of October 1, 2012.
|
|
|
Number of Other Accounts Managed
and Assets by Account Type
|
|
Number of Other Accounts and
Assets for which Advisory Fee is
Performance-Based
|
|
Name
of Portfolio Manager
|
|
Other
Registered
Investment
Companies
|
|
Other Pooled
Investment
Vehicles
|
|
Other
Accounts
|
|
Other
Registered
Investment
Companies
|
|
Other Pooled
Investment
Vehicles
|
|
Other
Accounts
|
|
James Bristow, CFA
|
|
2
|
|
6
|
|
18
|
|
0
|
|
1
|
|
0
|
|
|
|
$847.6 Million
|
|
$967.6 Million
|
|
$4.76 Billion
|
|
$0
|
|
$131.6 Million
|
|
$0
|
|
Stuart Reeve
|
|
1
|
|
18
|
|
11
|
|
0
|
|
0
|
|
0
|
|
|
|
$1.18 Billion
|
|
$2.96 Billion
|
|
$1.62 Billion
|
|
$0
|
|
$0
|
|
$0
|
The first paragraph under the subsection entitled “Portfolio
Manager Compensation Overview” is deleted in its entirety and replaced with the following:
BlackRock’s financial arrangements with its portfolio managers,
its competitive compensation and its career path emphasis at all levels reflect the value senior management places on key resources.
Compensation may include a variety of components and may vary from year to year based on a number of factors. The principal components
of compensation include a base salary, a performance-based discretionary bonus, participation in various benefits programs and
one or more of the incentive compensation programs established by BlackRock.
The last sentence of the first paragraph under the subsection
entitled “Portfolio Manager Compensation Overview — Discretionary Incentive Compensation” is deleted in its entirety
and replaced with the following:
With respect to these portfolio managers, such benchmarks for the
Fund and other accounts are:
|
Portfolio Manager
|
|
Benchmark
|
|
James Bristow, CFA
|
|
MSCI World
MSCI ACWI
MSCI EAFE
MSCI ACWI ex-U.S.
|
|
|
|
|
Stuart Reeve
|
|
MSCI All Country World Index
|
The last sentence under the subsection entitled “Portfolio
Manager Compensation Overview — Distribution of Discretionary Incentive Compensation — Long-Term Incentive Plan Awards”
is deleted in its entirety and replaced with the following:
Mr. Bristow has received long-term incentive awards.
The last sentence of the subsection entitled
“Portfolio Manager Compensation Overview — Distribution of Discretionary Incentive Compensation — Other
compensation benefits — Incentive Savings Plans” is deleted in its entirety and replaced with the following:
Messrs. Bristow and Reeve are eligible to participate in these plans.
The subsection entitled “Fund Ownership” is deleted
in its entirety and replaced with the following:
The following table sets forth the dollar range of equity securities
of the Fund beneficially owned by the portfolio managers as of October 1, 2012.
|
Portfolio
Manager
|
|
Dollar Range
1
|
|
James Bristow, CFA
|
|
None
|
|
Stuart Reeve
|
|
None
|
|
1
|
|
Includes securities attributable to participation in certain deferred compensation
and retirement programs.
|
The last two sentences of the first paragraph under the subsection
entitled “Portfolio Manager Potential Material Conflicts of Interest” are deleted in their entirety and replaced with
the following:
It should also be noted that Messrs. Bristow and Reeve may be managing
hedge fund and/or long only accounts, or may be part of a team managing hedge fund and/or long only accounts, subject to incentive
fees. Messrs. Bristow and Reeve may therefore be entitled to receive a portion of any incentive fees earned on such accounts.
Shareholders should retain this Supplement
for future reference.
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