BlackRock Announces Management Fee Waiver for Certain Closed-End Funds
The BlackRock closed-end funds (each a “Fund,” and collectively the “Funds”) listed below announced today the implementation of voluntary management fee waivers, effective May 1, 2024. Under the terms of this initiative, BlackRock Advisors, LLC (“BlackRock”) intends to waive management fees if certain conditions, detailed below, are met. In addition, BlackRock will be waiving an additional one-time $2 million in management/advisory fees pro-rata across the Funds.
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“We believe this fee waiver is a meaningful enhancement to these Funds and will increase tax-exempt income to shareholders, consistent with their investment objective. We will continue to evaluate options for improving our closed-end funds for the benefit of all shareholders, as we work to protect and advance their best interests,” said R. Glenn Hubbard, Chair of the Board of BlackRock Closed-End Funds.
BlackRock Closed-End Funds Implementing a Voluntary Management Fee Waiver |
|
Fund Name |
Ticker |
BlackRock MuniHoldings California Quality Fund, Inc. |
MUC |
BlackRock MuniHoldings New Jersey Quality Fund, Inc. |
MUJ |
BlackRock MuniHoldings New York Quality Fund, Inc. |
MHN |
BlackRock MuniHoldings Fund, Inc. |
MHD |
BlackRock MuniHoldings Quality Fund II, Inc. |
MUE |
BlackRock MuniAssets Fund, Inc. |
MUA |
BlackRock Investment Quality Municipal Trust, Inc. |
BKN |
BlackRock MuniYield Fund, Inc. |
MYD |
BlackRock MuniYield Quality Fund III, Inc. |
MYI |
BlackRock MuniYield New York Quality Fund, Inc. |
MYN |
BlackRock MuniYield Quality Fund, Inc. |
MQY |
BlackRock MuniYield Quality Fund II, Inc. |
MQT |
BlackRock MuniYield Michigan Quality Fund, Inc. |