Our firm’s ownership structure is designed to maintain the independence we believe is necessary to retain our commitments to client focus and investment excellence. BlackRock, Inc. (NYSE: BLK) has no single majority stockholder and has a majority of independent directors. Merrill Lynch & Co., Inc., a wholly-owned subsidiary of Bank of America Corporation, The PNC Financial Services Group, Inc. and Barclays PLC own economic interests in BlackRock approximating 34.1%, 24.6% and 19.9%, respectively, with the remainder owned by institutional and individual investors, as well as BlackRock employees.*
* Data is as of September 30, 2009, is subject to change, and is based on a pro forma estimate of assets under management at BlackRock, Inc. and Barclays Global Investors.
Offshore funds are located generally within a tax neutral jurisdiction and are, therefore, not subject to most (but not all) forms of tax.
* Any dividends paid by a fund typically will not be subject to tax at source.
* Investors should be aware that certain income received by the fund from the underlying investments might be subject to withholding taxes.
* Investors should seek advice regarding the personal tax consequences of investing in an offshore fund.
* in the USA or any of its territories or possessions or areas subject to its jurisdiction
* to or for the business of a US person