Fund Description: BlackRock MuniAssets Fund, formerly MuniAssets Fund, Inc., is an exchange-traded closed-end fund or a closed-end ETF which is officially described as a non-diversified, closed-end management investment company. <p> INVESTMENT OBJECTIVE: The BlackRock MuniAssets Fund seeks to provide provide high current income exempt from federal income taxes by investing primarily in a portfolio of medium- to lower-grade or unrated municipal obligations, the interest on which, in the opinion of bond counsel to the issuer, is exempt from federal income taxes. <p> FUND STRATEGY: The Fund seeks to achieve its investment objective by investing, under normal market conditions, at least 80% of its assets in municipal bonds exempt from federal income taxes (except that the interest may be subject to the federal alternative minimum tax). The Fund invests at least 65% of its assets in municipal bonds that are rated in the medium to lower categories by nationally recognized rating services (for example, Baa or lower by Moody’s Investors Service, Inc. or BBB or lower by Standard & Poor’s Corporation) or non-rated securities which are of comparable quality. The Fund may invest directly in such securities or synthetically through the use of derivatives. <p> FUND MANAGEMENT: BlackRock Advisors is the Fund's investment advisor and BlackRock Financial Management, Inc. serves as the sub-advisor.