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BlackRock Announces Release of Third Quarter Commentaries for Certain Closed-End Funds (BIGZ, BSTZ, BMEZ and BCAT)

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  • BIGZ
  • BMEZ
  • BSTZ
  • BCAT

NEW YORK, November 08, 2021--(BUSINESS WIRE)--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/

Contacts

BlackRock Closed-End Funds
1-800-882-0052