UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number: 811-05742
Name of Fund: BlackRock Funds
SM
BlackRock Wealth Liquid Environmentally Aware Fund
Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809
Name and address of agent for service: John M. Perlowski, Chief Executive Officer, BlackRock Funds
SM
, 55 East 52nd Street, New York, NY 10055
Registrant's telephone number, including area code: (800) 441-7762
Date of fiscal year end: 03/31/2022
Date of reporting period: 09/30/2021
Item 1 - Report to Stockholders
(a)
The Report to Shareholders is attached herewith.
Page
3
The
Markets
in
Review
...................................................................................................
2
Semi-Annual
Report:
Money
Market
Overview
..................................................................................................
4
Fund
Information
.......................................................................................................
5
Disclosure
of
Expenses
...................................................................................................
5
Financial
Statements:
Schedule
of
Investments
................................................................................................
6
Statement
of
Assets
and
Liabilities
..........................................................................................
9
Statement
of
Operations
................................................................................................
11
Statements
of
Changes
in
Net
Assets
........................................................................................
12
Financial
Highlights
.....................................................................................................
13
Notes
to
Financial
Statements
...............................................................................................
18
Disclosure
of
Investment
Advisory
Agreement
and
Sub-Advisory
Agreement
...................................................................
24
Additional
Information
....................................................................................................
27
Glossary
of
Terms
Used
in
This
Report
.........................................................................................
29
Fund
Information
as
of
September
30,
2021
5
BlackRock
Wealth
Liquid
Environmentally
Aware
Fund
Investment
Objective
BlackRock
Wealth
Liquid
Environmentally
Aware
Fund's
(the
"Fund")
investment
objective
is
to
seek
as
high
a
level
of
current
income
as
is
consistent
with
liquidity
and
preservation
of
capital
while
giving
consideration
to
select
environmental
criteria.
Expense
Example
Disclosure
of
Expenses
Shareholders
of
the
Fund
may
incur
the
following
charges:
(a)
transactional
expenses;
and
(b)
operating
expenses,
including
investment
advisory
fees,
administration
fees, service
and
distribution
fees,
and
other
fund
expenses.
The
expense
example
shown
(which
is
based
on
a
hypothetical
investment
of
$1,000
invested
on April
1,
2021 and
held
through
September
30,
2021)
is
intended
to
assist
shareholders
both
in
calculating
expenses
based
on
an
investment
in
the
Fund
and
in
comparing
these
expenses
with
similar
costs
of
investing
in
other
mutual
funds.
The
expense
example
provides
information
about
actual
account
values
and
actual
expenses.
In
order
to
estimate
the
expenses
a
shareholder
paid
during
the
period
covered
by
this
report,
shareholders
can
divide
their
account
value
by
$1,000
and
then
multiply
the
result
by
the
number
corresponding
to
their share
class
under
the
heading
entitled
"Expenses
Paid
During
the
Period."
The
expense
example
also
provides
information
about
hypothetical
account
values
and
hypothetical
expenses
based
on the
Fund's
actual
expense
ratio
and
an
assumed
rate
of
return
of
5%
per
year
before
expenses.
In
order
to
assist
shareholders
in
comparing
the
ongoing
expenses
of
investing
in
the
Fund
and
other
funds,
compare
the
5%
hypothetical
example
with
the
5%
hypothetical
examples
that
appear
in
shareholder
reports
of
other
funds.
The
expenses
shown
in
the
expense
example
are
intended
to
highlight
shareholders'
ongoing
costs
only
and
do
not
reflect
transactional
expenses,
such
as
sales
charges,
if
any.
Therefore,
the
hypothetical
example is
useful
in
comparing
ongoing
expenses
only
and
will
not
help
shareholders
determine
the
relative
total
expenses
of
owning
different
funds.
If
these
transactional
expenses
were
included,
shareholder
expenses
would
have
been
higher.
Actual
Hypothetical
(a)
Beginning
Account
Value
(04/01/21)
Ending
Account
Value
(09/30/21)
Expenses
Paid
During
the
Period
(b)
Beginning
Account
Value
(04/01/21)
Ending
Account
Value
(09/30/21)
Expenses
Paid
During
the
Period
(b)
Annualized
Expense
Ratio
Institutional
...............................
$
1,000.00
$
1,000.00
$
0.85
$
1,000.00
$
1,024.22
$
0.86
0.17%
Premier
..................................
1,000.00
1,000.00
0.90
1,000.00
1,024.17
0.91
0.18
Service
..................................
1,000.00
1,000.00
0.90
1,000.00
1,024.17
0.91
0.18
Investor
A
................................
1,000.00
1,000.00
0.90
1,000.00
1,024.17
0.91
0.18
Investor
C
................................
1,000.00
1,000.00
0.90
1,000.00
1,024.17
0.91
0.18
(a)
Hypothetical
5%
annual
return
before
expenses
is
calculated
by
prorating
the
number
of
days
in
the
most
recent
fiscal
half
year
divided
by
365.
(b)
For
each
class
of
the
Fund,
expenses
are
equal
to
the
annualized
expense
ratio
for
the
class,
multiplied
by
the
average
account
value
over
the
period,
multiplied
by
183/365
(to
reflect
the
one-half
year
period
shown).
See
"Disclosure
of
Expenses"
for
further
information
on
how
expenses
were
calculated.
CURRENT
SEVEN-DAY
YIELDS
7-Day
SEC
Yields
7-Day
Yields
Institutional
..............................
0.01
%
0.01
%
Premier
................................
0.01
0.01
Service
................................
0.01
0.01
Investor
A
...............................
0.01
0.01
Investor
C
...............................
0.01
0.01
The
7-Day
SEC
Yields
may
differ
from
the
7-Day
Yields
shown
above
due
to
the
fact
that
the
7-Day
SEC
Yields
exclude
distributed
capital
gains.
Past
performance
is
not
an
indication
of
future
results.
PORTFOLIO
COMPOSITION
Asset
Type
Percent
of
Net
Assets
Commercial
Paper
...................................
47
%
Certificates
of
Deposit
.................................
23
Municipal
Bonds
....................................
10
Time
Deposits
......................................
10
Repurchase
Agreements
...............................
5
U.S.
Government
Sponsored
Agency
Obligations
..............
1
Corporate
Bonds
....................................
1
Other
Assets
Less
Liabilities
............................
3
Statement
of
Assets
and
Liabilities
(unaudited)
September
30,
2021
9
BlackRock
Wealth
Liquid
Environmentally
Aware
Fund
ASSETS
Investments,
at
value
-
unaffiliated
(a)
........................................................................................
$
1,428,794,151
Cash
.............................................................................................................
44,684,359
Repurchase
agreements,
at
value
(b)
.........................................................................................
83,000,000
Receivables:
-
Capital
shares
sold
...................................................................................................
575,925
Interest
-
unaffiliated
.................................................................................................
236,634
From
the
Manager
...................................................................................................
1,786
Prepaid
expenses
.....................................................................................................
168,483
Total
assets
.........................................................................................................
1,557,461,338
LIABILITIES
Payables:
-
Administration
fees
...................................................................................................
74,257
Capital
shares
redeemed
...............................................................................................
1,617,889
Income
dividend
distributions
............................................................................................
726
Investment
advisory
fees
..............................................................................................
98,555
Trustees'
and
Officer's
fees
.............................................................................................
4,000
Other
affiliate
fees
...................................................................................................
35,533
Other
accrued
expenses
...............................................................................................
231,391
Total
liabilities
........................................................................................................
2,062,351
NET
ASSETS
........................................................................................................
$
1,555,398,987
NET
ASSETS
CONSIST
OF
Paid-in
capital
........................................................................................................
$
1,555,196,802
Accumulated
earnings
..................................................................................................
202,185
NET
ASSETS
........................................................................................................
$
1,555,398,987
(a)
Investments,
at
cost
-
unaffiliated
........................................................................................
$
1,428,794,151
(b)
Repurchase
agreements,
at
cost
-
unaffiliated
................................................................................
$
83,000,000
See
notes
to
financial
statements.
Statement
of
Assets
and
Liabilities
(unaudited)
(continued)
September
30,
2021
2021
BlackRock
Semi-Annual
Report
to
Shareholders
10
See
notes
to
financial
statements.
BlackRock
Wealth
Liquid
Environmentally
Aware
Fund
NET
ASSET
VALUE
Institutional
Net
assets
........................................................................................................
$
272,758,205
Shares
outstanding
.................................................................................................
272,745,467
Net
asset
value
....................................................................................................
$
1.00
Shares
authorized
..................................................................................................
Unlimited
Par
value
........................................................................................................
$
0.00
1
Premier
Net
assets
........................................................................................................
$
36,746
Shares
outstanding
.................................................................................................
36,744
Net
asset
value
....................................................................................................
$
1.00
Shares
authorized
..................................................................................................
Unlimited
Par
value
........................................................................................................
$
0.00
1
Service
Net
assets
........................................................................................................
$
28,176,752
Shares
outstanding
.................................................................................................
28,175,436
Net
asset
value
....................................................................................................
$
1.00
Shares
authorized
..................................................................................................
Unlimited
Par
value
........................................................................................................
$
0.00
1
Investor
A
Net
assets
........................................................................................................
$
1,242,193,331
Shares
outstanding
.................................................................................................
1,242,135,270
Net
asset
value
....................................................................................................
$
1.00
Shares
authorized
..................................................................................................
Unlimited
Par
value
........................................................................................................
$
0.00
1
Investor
C
Net
assets
........................................................................................................
$
12,233,953
Shares
outstanding
.................................................................................................
12,233,382
Net
asset
value
....................................................................................................
$
1.00
Shares
authorized
..................................................................................................
Unlimited
Par
value
........................................................................................................
$
0.00
1
Statement
of
Operations
(unaudited)
Six
Months
Ended
September
30,
2021
11
See
notes
to
financial
statements.
BlackRock
Wealth
Liquid
Environmentally
Aware
Fund
INVESTMENT
INCOME
Interest
-
unaffiliated
................................................................................................
$
1,707,162
Total
investment
income
.................................................................................................
1,707,162
EXPENSES
Investment
advisory
..................................................................................................
3,965,431
Service
and
distribution
-
class
specific
....................................................................................
1,916,094
Administration
.....................................................................................................
367,052
Administration
-
class
specific
..........................................................................................
185,798
Transfer
agent
-
class
specific
..........................................................................................
183,962
Registration
.......................................................................................................
103,402
Professional
.......................................................................................................
81,711
Accounting
services
..................................................................................................
32,123
Custodian
.........................................................................................................
21,336
Trustees
and
Officer
..................................................................................................
8,001
Miscellaneous
......................................................................................................
64,331
Total
expenses
.......................................................................................................
6,929,241
Less:
-
Administration
fees
waived
-
class
specific
..................................................................................
(179,753)
Fees
waived
and/or
reimbursed
by
the
Manager
...............................................................................
(3,008,117)
Service
and
distribution
fees
waived
and/or
reimbursed
-
class
specific
...............................................................
(1,916,094)
Transfer
agent
fees
waived
and/or
reimbursed
-
class
specific
.....................................................................
(161,334)
Total
expenses
after
fees
waived
and/or
reimbursed
..............................................................................
1,663,943
Net
investment
income
..................................................................................................
43,219
REALIZED
GAIN
$
11,534
Net
realized
gain
from
investments
........................................................................................
11,534
NET
INCREASE
IN
NET
ASSETS
RESULTING
FROM
OPERATIONS
..................................................................
$
54,753
Statements
of
Changes
in
Net
Assets
2021
BlackRock
Semi-Annual
Report
to
Shareholders
12
See
notes
to
financial
statements.
BlackRock
Wealth
Liquid
Environmentally
Aware
Fund
Six
Months
Ended
09/30/21
(unaudited)
Year
Ended
03/31/21
INCREASE
(DECREASE)
IN
NET
ASSETS
OPERATIONS
Net
investment
income
..............................................................................
$
43,219
$
3,361,668
Net
realized
gain
..................................................................................
11,534
221,016
Net
increase
in
net
assets
resulting
from
operations
.............................................................
54,753
3,582,684
DISTRIBUTIONS
TO
SHAREHOLDERS
(a)
Institutional
....................................................................................
(13,746)
(971,388)
Premier
.......................................................................................
(1)
(79)
Service
.......................................................................................
(683)
(15,811)
Investor
A
.....................................................................................
(28,509)
(2,515,253)
Investor
C
.....................................................................................
(280)
(20,815)
Decrease
in
net
assets
resulting
from
distributions
to
shareholders
...................................................
(43,219)
(3,523,346)
CAPITAL
SHARE
TRANSACTIONS
Net
decrease
in
net
assets
derived
from
capital
share
transactions
...................................................
(706,824,881)
(758,932,753)
NET
ASSETS
Total
decrease
in
net
assets
............................................................................
(706,813,347)
(758,873,415)
Beginning
of
period
..................................................................................
2,262,212,334
3,021,085,749
End
of
period
......................................................................................
$
1,555,398,987
$
2,262,212,334
(a)
Distributions
for
annual
periods
determined
in
accordance
with
U.S.
federal
income
tax
regulations.
Financial
Highlights
(continued)
(For
a
share
outstanding
throughout
each
period)
2021
BlackRock
Semi-Annual
Report
to
Shareholders
14
See
notes
to
financial
statements.
BlackRock
Wealth
Liquid
Environmentally
Aware
Fund
Premier
Six
Months
Ended
09/30/21
(unaudited)
Year
Ended
03/31/2021
Period
from
07/26/19
(a)
to
03/31/20
Net
asset
value,
beginning
of
period
...........................................................
$
1.00
$
1.00
$
1.00
Net
investment
income
....................................................................
0.0000
(b)
0.0021
0.0117
Net
realized
gain
........................................................................
0.0000
(b)
0.0001
0.0000
(b)
Net
increase
from
investment
operations
..........................................................
0.0000
0.0022
0.0117
Distributions
(c)
-
-
-
From
net
investment
income
................................................................
(0.0000)
(d)
(0.0021)
(0.0117)
From
net
realized
gain
.....................................................................
-
(0.0001)
(0.0000)
(d)
Total
distributions
.........................................................................
(0.0000)
(0.0022)
(0.0117)
Net
asset
value,
end
of
period
................................................................
$
1.00
$
1.00
$
1.00
Total
Return
(e)
-
0.22%
1.18%
Based
on
net
asset
value
....................................................................
0.00%
(f)(g)
0.22%
1.18%
(f)
Ratios
to
Average
Net
Assets
Total
expenses
...........................................................................
0.61%
(h)
0.58%
0.70%
(h)
Total
expenses
after
fees
waived
and/or
reimbursed
..................................................
0.18%
(h)
0.20%
0.20%
(h)
Net
investment
income
.....................................................................
0.00%
(g)(h)
0.21%
1.75%
(h)
Supplemental
Data
Net
assets,
end
of
period
(000)
................................................................
$
37
$
37
$
37
(a)
Commencement
of
operations.
(b)
Amount
is
less
than
$0.00005
per
share.
(c)
Distributions
for
annual
periods
determined
in
accordance
with
U.S.
federal
income
tax
regulations.
(d)
Amount
is
greater
than
$(0.00005)
per
share.
(e)
Where
applicable,
assumes
the
reinvestment
of
distributions.
(f)
Aggregate
total
return.
(g)
Amount
is
less
than
0.005%.
(h)
Annualized.
Notes
to
Financial
Statements
(unaudited)
(continued)
2021
BlackRock
Semi-Annual
Report
to
Shareholders
20
For
such
services,
the
Fund
pays
the
Manager
a
monthly
fee
at
an
annual
rate
equal
to
the
following
percentages
of
the
average
daily
value
of
the
Fund's
net
assets:
The
Manager
entered
into
a
sub-advisory
agreement
with
BlackRock
International
Limited
("BIL"),
an
affiliate
of
the
Manager.
The
Manager
pays
BIL
for
services
it
provides
for
that
portion
of
the
Fund
for
which
BIL
acts
as
sub-adviser,
a
monthly
fee
that
is
equal
to
a
percentage
of
the
investment
advisory
fees
paid
by
the
Fund
to
the
Manager.
Service
and
Distribution
Fees:
The
Trust
,
on behalf
of
the
Fund,
entered
into
a
Distribution
Agreement
and
a Distribution
and
Service Plan
with
BlackRock
Investments,
LLC
("BRIL"),
an
affiliate
of
the
Manager.
Pursuant
to
the
Distribution
and
Service
Plan
and
in
accordance
with
Rule
12b-1
under
the
1940
Act,
the
Fund
pays
BRIL
ongoing
service
and
distribution
fees.
The
fees
are
accrued
daily
and
paid
monthly
at
annual
rates
based
upon
the
average
daily
net
assets
of
the
relevant
share
class
of
the
Fund
as
follows:
BRIL
and
broker-dealers,
pursuant
to
sub-agreements
with
BRIL,
provide
shareholder
servicing
and
distribution
services to
the
Fund.
The
ongoing
service
and/or
distribution
fee
compensates
BRIL
and
each
broker-dealer
for
providing
shareholder
servicing
and/or
distribution
related
services
to
shareholders.
For
the six
months
ended
September
30,
2021,
the
following
table
shows
the
class
specific
service
and
distribution
fees
borne
directly
by
each
share
class
of
the
Fund:
Administration:
The
Trust
,
on behalf
of
the
Fund,
entered
into
a
Administration
Agreement
with
the
Manager,
and
indirect,
wholly-owned
subsidiary
of
BlackRock,
to
provide
administrative
services.
For
these
services,
the
Manager
receives
an
administration
fee
computed
daily
and
payable
monthly,
based
on
a
percentage
of
the
average
daily
net
assets
of
the
Fund.
The
administration
fee,
which
is
shown
as
administration
in
the
Statement
of
Operations,
is
paid
at
the
annual
rates
below:
In
addition,
the
Manager
charges
each
of
the
share
classes
an
administration
fee,
which
is
shown
as
administration -
class
specific
in
the
Statement
of
Operations,
at
an
annual
rate
of
0.02% of
the
average
daily
net
assets
of
each
respective
class.
For
the
six
months
ended
September
30,
2021, the
following
table
shows
the
class
specific
administration
fees
borne
directly
by
each
share
class
of
the
Fund:
Transfer
Agent:
Pursuant
to
written
agreements,
certain
financial
intermediaries,
some
of
which
may
be
affiliates,
provide
the
Fund
with
sub-accounting,
recordkeeping,
sub-transfer
agency
and
other
administrative
services
with
respect
to
servicing
of
underlying
investor
accounts.
For
these
services,
these
entities
receive
an
asset-based
fee
or
an
annual
fee
per
shareholder
account,
which
will
vary
depending
on
share
class
and/or
net
assets.
For
the
six
months ended September
30,
2021,
the
Fund
paid
the
following
amounts
to
affiliates
of
BlackRock
in
return
for
these
services,
which
are
included
in
transfer
agent
-
class
specific
in
the
Statement
of
Operations:
Average
Daily
Net
Assets
Investment
Advisory
Fees
First
$1
Billion
.........................................................................................................
0.450
%
$1
Billion
-
$2
Billion
.....................................................................................................
0.400
$2
Billion
-
$3
Billion
....................................................................................................
0.375
Greater
than
$3
Billion
...................................................................................................
0.350
Service
Fees
Distribution
Fees
Service
..................................................................................................
0.25%
-%
Investor
A
.................................................................................................
0.25
-
Investor
C
.................................................................................................
0.25
0.75
Service
and
Distribution
Fees
Service
.........................................................................................................
$
44,174
Investor
A
........................................................................................................
1,802,657
Investor
C
........................................................................................................
69,263
$
1,916,094
Average
Daily
Net
Assets
Administration
Fees
First
$500
Million
0.0425
%
$500
Million
-
$1
Billion
0.0400
$1
Billion
-
$2
Billion
0.0375
$2
Billion
-
$4
Billion
0.0350
$4
Billion
-
$13
Billion
0.0325
Greater
than
$13
Billion
0.0300
Institutional
.......................................................................................................
$
36,675
Premier
.........................................................................................................
4
Service
.........................................................................................................
3,533
Investor
A
........................................................................................................
144,201
Investor
C
........................................................................................................
1,385
$
185,798
Institutional
.............................................................................................................
$
1,184
Investor
A
..............................................................................................................
68
0
$
1
,
864
Notes
to
Financial
Statements
(unaudited)
(continued)
21
Notes
to
Financial
Statements
The
Manager
maintains
a
call
center
that
is
responsible
for
providing
certain
shareholder
services
to
the
Fund.
Shareholder
services
include
responding
to
inquiries
and
processing
purchases
and
sales
based
upon
instructions
from
shareholders.
For
the six
months
ended
September
30,
2021,
the
Fund
did
not
reimburse
the
Manager
any
amounts
in
return
for
these
services.
For
the
six
months ended
September
30,
2021,
the
following
table
shows
the
class
specific
transfer
agent
fees
borne
directly
by
each
share
class
of
the
Fund:
Other
Fees:
For
the
six
months
ended
September
30,
2021
,
affiliates
received
CDSCs
as
follows:
Expense
Limitations,
Waivers
and
Reimbursements:
The
Manager
contractually
agreed
to
waive
and/or
reimburse
fees
or
expenses
in
order
to
limit
expenses,
excluding
interest
expense,
dividend
expense,
tax
expense,
acquired
fund
fees
and
expenses
,
and
certain
other
fund
expenses,
which
constitute
extraordinary
expenses
not
incurred
in
the
ordinary
course
of the
Fund's
business
("expense
limitation")
.
The
expense
limitations
as
a
percentage
of
average
daily
net
assets
are
as
follows:
The
Manager
has
agreed
not
to
reduce
or
discontinue
the
contractual
expense
limitations
through
June
30,
2023,
unless
approved
by
the
Board,
including
a
majority
of
the trustees who
are
not
"interested
persons"
of
the
Trust,
as
defined
in
the
1940
Act
("Independent
Trustees"),
or
by
a
vote
of
a
majority
of
the
outstanding
voting
securities
of the
Fund. For
the
six
months
ended
September
30,
2021,
the
Manager
waived
and/or
reimbursed
investment
advisory
fees
of
$2,786,022,
which
is
included
in
fees
waived
and/or
reimbursed
by
the
Manager
in
the
Statement
of
Operations.
In
addition,
these
amounts
waived
and/or
reimbursed
by
the
Manager are
included
in administration
fees
waived
-
class
specific
and
transfer
agent
fees
waived
and/
or
reimbursed
-
class
specific,
respectively,
in
the
Statement
of
Operations.
For
the
six
months ended
September
30,
2021,
class
specific
expense
waivers
and/or
reimbursements are
as
follows:
The
Manager
and
BRIL
have
also
voluntarily
agreed
to
waive
a
portion
of
their
respective
investment
advisory
and
service
and
distribution
fees
and/or
reimburse
operating
expenses
to
enable
the
Fund
to
maintain
minimum
levels
of
daily
net
investment
income
if
applicable.
These
amounts,
if
any,
are
reported
in
the
Statement
of
Operations
as
fees
waived
and/or
reimbursed
by
the
Manager,
administration
fees
waived
-
class
specific,
service
and
distribution
fees
waived
and/or
reimbursed -
class
specific
and
transfer
agent
fees
waived
and/or
reimbursed
-
class
specific.
The
Manager
and
BRIL
may
discontinue
the
waiver
and/or
reimbursement
at
any
time.
For
the
six
months ended
September
30,
2021,
there
were
$2,430,292 waived
and/or
reimbursed
by
the
Manager
and
BRIL
under
this
agreement.
Trustees
and
Officers:
Certain
trustees
and/or
officers
of
the Trust are directors and/or
officers
of BlackRock
or
its
affiliates.
The
Fund
reimburses
the
Manager
for
a
portion
of
the
compensation
paid
to
the
Trust's
Chief
Compliance
Officer,
which
is
included
in
Trustees and
Officer
in
the
Statement
of
Operations.
Other
Transactions:
The
Fund
may
purchase
securities
from,
or
sell
securities
to,
an
affiliated
fund
provided
the
affiliation
is
due
solely
to
having
a
common
investment
adviser,
common
officers,
or
common
trustees.
For
the
six
months ended
September
30,
2021,
the
purchase
and
sale
transactions
and
any
net
realized
gains
(losses)
with
affiliated
fund
s
in
compliance
with
Rule
17a-7
under
the
1940
Act
were
as
follows:
Institutional
.......................................................................................................
$
12,441
Premier
.........................................................................................................
17
Service
.........................................................................................................
1,166
Investor
A
........................................................................................................
165,537
Investor
C
........................................................................................................
4,801
$
183,962
Investor
A
$
26,780
Investor
C
268
Institutional
..........................................................................................................
0.20%
Premier
............................................................................................................
0.20
Service
............................................................................................................
0.50
Investor
A
...........................................................................................................
0.55
Investor
C
...........................................................................................................
1.30
Fund
Name/Share
Class
Administration
Fees
Waived
Transfer
Agent
Fees
Waived
and/or
Reimbursed
BlackRock
Wealth
Liquid
Environmentally
Aware
Fund
Institutional
....................................................................................
$
36,675
$
12,
289
Premier
......................................................................................
4
16
Service
......................................................................................
-
-
Investor
A
.....................................................................................
-
-
Investor
C
.....................................................................................
-
-
$
36,679
$
12,3
05
Purchases
...............................................................................................................
$
-
Sales
...................................................................................................................
24,992,649
Net
Realized
Gain
(Loss)
.....................................................................................................
-
Item 2 - Code of Ethics - Not Applicable to this semi-annual report
Item 3 - Audit Committee Financial Expert - Not Applicable to this semi-annual report
Item 4 - Principal Accountant Fees and Services - Not Applicable to this semi-annual report
Item 5 - Audit Committee of Listed Registrant - Not Applicable
Item 6 - Investments
(a) The registrant's Schedule of Investments is included as part of the Report to Stockholders filed under Item 1(a) of this Form.
(b) Not Applicable due to no such divestments during the semi-annual period covered since the previous Form N-CSR filing.
Item 7 - Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies - Not Applicable
Item 8 - Portfolio Managers of Closed-End Management Investment Companies - Not Applicable
Item 9 - Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers - Not Applicable
Item 10 - Submission of Matters to a Vote of Security Holders -There have been no material changes to these procedures.
Item 11 - Controls and Procedures
(a) The registrant's principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrant's disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the "1940 Act")) are effective as of a date within 90 days of the filing of this report based on the evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act and Rule 15d-15(b) under the Securities Exchange Act of 1934, as amended.
(b) There were no changes in the registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act)
that occurred during the period covered by this report
that have materially affected, or are reasonably likely to materially affect, the registrant's internal control over financial reporting.
Item 12 -
Disclosure of Securities Lending Activities for Closed-End Management Investment
Companies
- Not Applicable
Item 13 - Exhibits attached hereto
(a)(1) Code of Ethics - Not Applicable to this semi-annual report
(a)(2) Section 302 Certifications are attached
section302
(a)(3) Not Applicable
(a)(4) Not Applicable
(b) Section 906 Certifications are attached
section906
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
By: /s/ John M. Perlowski
John M. Perlowski
Chief Executive Officer (principal executive officer) of
Date: December 3, 2021
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
By: /s/ John M. Perlowski
John M. Perlowski
Chief Executive Officer (principal executive officer) of
Date: December 3, 2021
By: /s/ Trent Walker
Trent Walker
Chief Financial Officer (principal financial officer) of
Date: December 3, 2021