BLACKROCK CLOSED-END FUNDS

The future of your long-term investment depends on you

Closed-end funds (CEFs) have been at the heart of BlackRock since our founding in 1988. At this year’s Annual Meetings, activist hedge fund, Saba Capital Management L.P. (“Saba”), is attempting to install its own hand-picked nominees with little to no experience, and, in some instances, fire BlackRock as investment manager of one or more CEFs in which you are invested.

 

We are asking all shareholders to make their voices heard. If Saba prevails, your investments may be at risk.

Cast your vote Cast your vote

Make your voice heard on BNY and BSTZ.

Vote today.

Shareholders are rejecting Saba’s proposals. Annual meetings for BlackRock New York Municipal Income Trust (BNY) and BlackRock Science and Technology Term Trust (BSTZ) are around the corner. Reject Saba’s attempts to drown out individual shareholders and make your voice heard.

Vote now Vote now

Take it from independent proxy advisors ISS and Glass Lewis

Leading independent proxy advisory firms Institutional Shareholder Services Inc. (“ISS”) and Glass Lewis recently shared recommendations to help shareholders vote with confidence.
Handshake icon
Glass Lewis and ISS back BlackRock nominees at BNY
View press release View press release
Conversation bubble icon
Glass Lewis and ISS reject Saba's proposal at BSTZ
View press release View press release
person icon
Glass Lewis supports BlackRock nominees at BSTZ
View press release View press release

OUR PERFORMANCE

See how we have improved discounts and delivered strong performance

Saba has indicated that BlackRock CEFs are not performing as they were intended. This is factually inaccurate. See how we have improved discounts and outperformed benchmarks in recent years.
View performance View performance

We’re setting the record straight

Boaz Weinstein, Founder and CIO of Saba, has made several unfounded claims about BlackRock, your Funds and their Boards. We want our shareholders to hear the truth from us.
The truth about SABA The truth about SABA

The stakes could not be higher

This proxy season, Saba has launched proxy campaigns targeting BlackRock CEFs, claiming to act in the best interests of shareholders but in reality seeking to benefit itself by making a quick profit at your expense.

Here are the two types of proposals Saba is submitting for the shareholder meetings:
One number icon
Director nominations
Saba is seeking to install its own hand-picked nominees at BNY and BSTZ.
Two number icon
Terminate BSTZ’s investment management agreement
If approved, BlackRock would no longer manage BSTZ.

Board nominees up for election

Your qualified Board is under attack by​ a self-serving activist hedge fund.​ View some of the BlackRock Board nominees that are up for election. Click below to view the full list.

R. Glenn Hubbard
R. Glenn Hubbard
Former Chairman of the U.S. Council of Economic Advisers of the President of the United States. Dean Emeritus of Columbia Graduate Business School. Professor of Finance and Economics​
Catherine A. Lynch, CFA
Catherine A. Lynch, CFA
Former Chief Executive Officer and Chief Investment Officer of the National Railroad Retirement Investment. Board Director for PennyMac Mortgage Investment Trust 
J. Phillip Holloman
J. Phillip Holloman
Former President and Chief Operating Officer of Cintas Corporation and director of PulteGroup, Inc. and Rockwell Automation Inc.​

Lead Portfolio Managers

BlackRock’s CEFs are managed by some of the industry’s most influential thought leaders. Click to view our team of Portfolio Managers that seek to deliver on the Funds' investment objectives with decades of experience and recognition.

Sean Carney
Sean Carney
Chief Investment Officer (CIO) of Municipal Bond Funds and Head of the Municipal Strategy team, Managing Director and Portfolio Manager
Sean Carney has 20+ years of experience in the industry. He has been instrumental in building out the Municipal Strategy platform and the Primary Markets Group at BlackRock. For 7 years, he was recognized as the industry’s top buy-side Municipal Strategist by Smith's Research & Gradings. He is the lead Portfolio Manager for MPA, BNY, MHN, MYN, BFZ.

*The award process recognizes portfolio managers who Morningstar believes demonstrate the industry’s very best attributes, including investment skill and an alignment of interests with the strategies’ investors.

Defend YOUR Fund

Make your voices heard and vote for your Directors on the below white proxy cards.
defend-your-funds

We're here to help

For more information on your investment, email cef@blackrock.com. If you have any questions about the proposals to be voted, please contact Georgeson LLC (“Georgeson”), toll free at 1-866-920-4784.
Cast your vote Cast your vote
contact-us