BlackRock Advisors LLC has announced that is has received approval for the termination of the Fund’s level distribution plan from the BlackRock Credit Allocation Income Trust IV (NYSE:BTZ) Board of Trustees. The fund initially announced changes to certain non fundamental investment policies on September 4, 2009. The changes were made in response to the company’s perception of the current and prospective market environment for preferred securities. The Fund will invest a minimum of 80% of its total assets in credit related securities, under its new policies which were made in effect as of November 13, 2009. The investments included investment grade corporate bonds, high yield bonds, bank loans, preferred securities or convertible bonds or derivatives with economic characteristics like credit related securities.
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BlackRock is a leader in investment management, risk management and advisory services for institutional and retail clients worldwide. At December 31, 2009, BlackRock’s AUM was $3.346 trillion. BlackRock offers products that span the risk spectrum to meet clients’ needs, including active, enhanced and index strategies across markets and asset classes. Products are offered in a variety of structures including separate accounts, mutual funds, iShares® (exchange traded funds), and other pooled investment vehicles. BlackRock also offers risk management, advisory and enterprise investment system services to a broad base of institutional investors through BlackRock Solutions®. Headquartered in New York City, as of December 31, 2009, the firm has approximately 8,500 full-time employees in 24 countries and a major presence in key global markets, including North and South America, Europe, Asia, Australia and the Middle East and Africa.
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