BlackRock Closed-End Funds Announce Appointment of New Director/Trustee
January 11 2012 - 4:47PM
Business Wire
The BlackRock registered closed-end funds (each a "Fund" and
collectively, the "Funds") announced today that Mr. John F. Powers
has been appointed by the Board of Directors/Trustees of each Fund
to serve as an independent director/trustee of each of the Funds
(and as a Class II director/trustee of those Funds that have
classified Boards), effective January 3, 2012.
Mr. Powers is the President and CEO of Stanford Management
Company – a $16.5 billion endowment of Stanford University. Mr.
Powers was previously the managing director and the director of
research at Offit Hall Capital Management. Prior to Offit Hall, he
was the director of institutional sales and research and served as
a member of the executive committee at Robertson Stephens, a San
Francisco investment bank.
About BlackRock
BlackRock is a leader in investment management, risk management
and advisory services for institutional and retail clients
worldwide. At September 30, 2011, BlackRock’s AUM was $3.345
trillion. BlackRock offers products that span the risk spectrum to
meet clients’ needs, including active, enhanced and index
strategies across markets and asset classes. Products are offered
in a variety of structures including 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, 2011, the firm
had approximately 10,200 employees in 27 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 firm’s website at
www.blackrock.com.
Forward-Looking Statements
This press release, and other statements that BlackRock may
make, may contain forward-looking statements within the meaning of
the Private Securities Litigation Reform Act, with respect to
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 each of 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
Fund or in the Fund’s net asset value; (2) the relative and
absolute investment performance of the 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 the 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; (11) the impact of
problems at other financial institutions or the failure or negative
performance of products at other financial institutions; and (12)
the ability of BlackRock to integrate the operations of Barclays
Global Investors.
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.
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