Additional Events Related to Certain Cash Management Funds
As discussed in BlackRock’s periodic reports, Barclays has provided capital support agreements to support certain cash management funds (bank-managed short-term investment funds or “STIFs”) acquired by BlackRock in the Barclays Global Investors acquisition from Barclays. On October 9, 2012, BlackRock, on behalf of two of these funds negotiated amendments to these capital support agreements to release Barclays from coverage provided for defaults on 52 covered securities (with an estimated value of approximately $750 million) held in the funds in exchange for a payment by Barclays to the funds of $70 million. This payment is an amount in excess of the payments that were expected under the Barclays capital support agreements. The Barclays capital support agreements will continue in effect for the remaining covered securities in these two funds.
Separately, on October 9, 2012, the Office of the Comptroller of the Currency finalized amended rules governing STIFs to more closely align such funds with changes enacted in 2010 by the SEC for money market mutual funds. BlackRock is reviewing and evaluating its alternatives to ensure that the STIFs it manages are in compliance by the July 1, 2013 deadline.
Teleconference, Webcast and Presentation InformationChairman and Chief Executive Officer, Laurence D. Fink, and Chief Financial Officer, Ann Marie Petach, will host a teleconference call for investors and analysts on Wednesday, October 17, 2012, at 9:00 a.m. (Eastern Time). Members of the public who are interested in participating in the teleconference should dial, from the United States, (800) 374-0176, or from outside the United States, (706) 679-8281, shortly before 9:00 a.m. and reference the BlackRock Conference Call (ID Number 36165909). A live, listen-only webcast will also be available via the investor relations section of www.blackrock.com. Both the teleconference and webcast will be available for replay by 1:00 p.m. Eastern Time on Wednesday, October 17, 2012 and ending at midnight on Wednesday, October 31, 2012. To access the replay of the teleconference, callers from the United States should dial (800) 585-8367 and callers from outside the United States should dial (404) 537-3406 and enter the Conference ID Number 36165909. To access the webcast, please visit the investor relations section of www.blackrock.com. Performance Notes Past performance is not indicative of future results. The performance information shown is based on preliminarily available data. The performance information for actively managed accounts reflects U.S. open-end and closed-end mutual funds and similar EMEA-based products with respect to peer median comparisons, and actively managed institutional and high net worth separate accounts and funds located globally with respect to benchmark comparisons, as determined using objectively based internal parameters, using the most current verified information available as of September 30, 2012 (August 31, 2012 for high net worth accounts).