Fund Description: BlackRock Taxable Municipal Bond Trust, formerly Blackrock Build America Bond Trust, is an exchange-traded closed-end fund or a closed-end ETF that is officially described as a non-diversified, closed-end management investment company. INVESTMENT OBJECTIVE: The BlackRock Taxable Municipal Bond Trust primary seeks high current income, with a secondary objective of capital appreciation. FUND STRATEGY: The Trust invests at least 80% of its managed assets in taxable municipal securities, which include Build America Bonds (BABs), to finance capital projects, such as public schools, roads, transportation infrastructure, bridges, ports and public buildings. The Trust's portfolio includes in sectors, such as utility, transport, education, tobacco, housing, local tax-backed, state tax-backed, school districts and other industries. The Trust will invest up to 20% of its managed assets in securities other than taxable municipal securities. Such other securities include tax-exempt securities, U.S. Treasury securities and obligations of the U.S. Government, its agencies and instrumentalities. It also includes corporate bonds issued by issuers that have, in the Advisor’s view, typically been associated with or sold in the municipal market, such as bonds issued by private universities and hospitals, or bonds sold to finance military housing developments. FUND MANAGEMENT: The Trust’s investment advisor is BlackRock Advisors and the Trust’s sub-advisor is BlackRock Investment Management.