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As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 4/11/24 Blackrock Funds 497 4/11/24 1:20K Donnelley … Solutions/FA → Blackrock International Dividend Fund ⇒ Class K — Institutional (BISIX) — Investor A (BREAX) — Investor C (BRECX) |
Document/Exhibit Description Pages Size 1: 497 Blackrock International Dividend Fund HTML 18K
| BLACKROCK INTERNATIONAL DIVIDEND FUND |
BLACKROCK FUNDSSM
BlackRock International Dividend Fund
(the “Fund”)
Supplement dated April 11, 2024 to the Statement of Additional Information (“SAI”) of the Fund,
dated September 28, 2023, as supplemented to date
Effective immediately, the following changes are made to the Fund’s SAI:
The section entitled “Management, Advisory and Other Service Arrangements — Information Regarding the Portfolio Managers” is revised as follows:
The first paragraph is deleted in its entirety and replaced with the following:
Olivia Treharne, CFA and Molly Greenen, CFA are the portfolio managers and are jointly and primarily responsible for the day-to-day management of the Fund.
The sub-section entitled “Other Funds and Accounts Managed” is deleted in its entirety and replaced with the following:
The following table sets forth information about the funds and accounts other than the Fund for which the portfolio managers are primarily responsible for the day-to-day portfolio management as of May 31, 2023.
| Number of Other Accounts Managed and Assets by Account Type |
Number of Other Accounts and Assets for Which Advisory Fee is Performance-Based | |||||||||||
| Name of Portfolio Manager |
Other Registered Investment Companies |
Other Pooled Investment Vehicles |
Other Accounts |
Other Registered Investment Companies |
Other Pooled Investment Vehicles |
Other Accounts | ||||||
| Olivia Treharne, CFA | 6 $3.50 Billion |
11 $3.28 Billion |
2 $1.32 Billion |
0 $0 |
0 $0 |
1 $1.25 Billion | ||||||
| Molly Greenen, CFA | 7 $3.57 Billion |
9 $3.09 Billion |
2 $1.32 Billion |
0 $0 |
0 $0 |
1 $1.25 Billion | ||||||
The sub-section entitled “Discretionary Incentive Compensation” is deleted in its entirety and replaced with the following:
Generally, discretionary incentive compensation for Fundamental Equities portfolio managers is based on a formulaic compensation program. BlackRock’s formulaic portfolio manager compensation program is based on team revenue and pre-tax investment performance relative to appropriate competitors or benchmarks over 1-, 3- and 5-year performance periods, as applicable. In most cases, these benchmarks are the same as the benchmark or benchmarks against which the performance of the Fund or other accounts managed by the portfolio managers are measured. BlackRock’s Chief Investment Officers determine the benchmarks or rankings against which the performance of the Fund and other accounts managed by the portfolio management team is compared and the period of time over which performance is evaluated. With respect to these portfolio managers, such benchmarks for the Fund and other accounts are:
| Portfolio Manager | Benchmarks | |
| Olivia Treharne, CFA Molly Greenen, CFA |
70% MS_ACWNXUS / 30% LIBOR_3MO; 70% MSACWLDNET / 30% LIBOR_3MO Index; MSCI ACWI HIGH DIVIDEND YIELD — NET USD; MSCI All Country World Index (Net Total Return); MSCI All Country World Net TR Index; MSCI All Country World Net TR Index — in GBP; MSCI World Ex Japan Gross TR Index — in JPY. |
A smaller element of portfolio manager discretionary compensation may include consideration of: financial results, expense control, profit margins, strategic planning and implementation, quality of client service, market share, corporate reputation, capital allocation, compliance and risk control, leadership, technology and innovation. These factors are considered collectively by BlackRock management and the relevant Chief Investment Officers.
The sub-section entitled “Portfolio Manager Beneficial Holdings” is deleted in its entirety and replaced with the following:
As of May 31, 2023, the dollar range of securities beneficially owned by each portfolio manager in the Fund is shown below:
| Portfolio Manager | Dollar Range of Equity Securities Beneficially Owned | ||||
| Olivia Treharne, CFA | $10,001-$50,000 | ||||
| Molly Greenen, CFA | $10,001-$50,000 | ||||
Shareholders should retain this Supplement for future reference.
SAI-ID-0424SUP
2
| This ‘497’ Filing | Date | Other Filings | ||
|---|---|---|---|---|
 | ||||
| Filed as of / Effective on: | 4/11/24 | 497, 497K | ||
| Filed on: | 4/10/24 | 497, 497K | ||
| 9/28/23 | 485BPOS, 497, 497J, 497K | |||
| 5/31/23 | 24F-2NT, 485BPOS, 497J, N-CEN, N-CSR, N-MFP2, NPORT-P | |||
| List all Filings | ||||