BlackRock Closed-End Funds Announce Changes to their Boards of Directors/Trustees
February 16 2018 - 4:30PM
Business Wire
The BlackRock registered closed-end funds (each a "Fund" and
collectively, the "Funds") announced today that Ms. Barbara G.
Novick will resign from her position on the Board of
Directors/Trustees (the “Board”) of each Fund, effective February
16, 2018 at 5:30 p.m. Eastern time. In addition, the Funds
announced today that the Board of each Fund has appointed Mr.
Robert W. Fairbairn as an interested director/trustee, effective
February 16, 2018 at 5:30 p.m. Eastern time, to fill the vacancy
created by Ms. Novick's resignation. Mr. Fairbairn has agreed to
serve as an interested director/trustee of each Fund effective
February 16, 2018 at 5:30 p.m. Eastern time.
Mr. Fairbairn is a Senior Managing Director of BlackRock, Inc.,
who oversees the Strategic Partner Program responsible for the
firm’s largest client relationships and the Strategic Product
Management Group responsible for the firm’s overall product
strategy and product suite. Mr. Fairbairn is a member of
BlackRock’s Global Executive Committee, Global Operating Committee
and co-chairs the Human Capital Committee. From 2012 to 2016, Mr.
Fairbairn served as the global head of the Retail and iShares
businesses. Prior to that, he served as head of BlackRock’s Global
Client Group and Chairman of BlackRock’s international businesses.
Mr. Fairbairn currently serves as board member for the BlackRock
Equity-Bond mutual fund family.
About BlackRock
BlackRock helps investors build better financial futures. As a
fiduciary to our clients, we provide the investment and technology
solutions they need when planning for their most important goals.
As of December 31, 2017, the firm managed approximately $6.288
trillion in assets on behalf of investors worldwide. For additional
information on BlackRock, please visit www.blackrock.com | Twitter:
@blackrock | Blog: www.blackrockblog.com | 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.
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