FUND DESCRIPTION: BlackRock Resources & Commodities Strategy 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 Trust's primary investment objective is to seek high current income and current gains, with a secondary objective of capital appreciation. FUND STRATEGY: The BlackRock Resources & Commodities Strategy Trust will seek to achieve its investment objectives, under normal market conditions, by investing at least 80% of its total assets in equity securities issued by commodity or natural resources companies, derivatives with exposure to commodity or natural resources companies or investments in securities and derivatives linked to the underlying price movement of commodities or natural resources. Commodities and natural resources include minerals, metals (including precious, industrial and rare metals), steel, agricultural products and commodities, livestock, environmental commodities, wool, ethanol, chemicals, forest products (including wood, pulp and paper), plastic, rubber, sugar, cotton, cocoa, coffee, basic materials, building materials, water, oil, gas, consumable fuel, energy and other natural resources. Commodity and natural resources companies include companies engaged in the exploration, ownership, production, refinement, processing, transportation, distribution or marketing of commodities or natural resources and companies that use commodities and natural resources extensively in their products, including companies that are engaged in businesses such as integrated oil, oil and gas exploration and production, gold, metals and minerals, steel and iron ore production, aluminum and related products, energy services, and technology, metal production, forest products, including timber and related wood and paper products, chemicals, fertilizer and agricultural chemicals, building materials, coal and other consumable fuel, alternative energy sources, environmental services and agricultural products (including crop growers, owners of plantations, and companies that produce and process foods), as well as related transportation companies and equipment manufacturers. The Trust's exposure to securities and derivatives linked to the underlying price movements of commodities or natural resources will not exceed 20% of its total assets. The Trust expects to invest primarily in companies located in developed countries, but may invest in companies located in emerging markets. As part of its investment strategy, the Trust currently intends to employ a strategy of writing (selling) covered call options on a portion of the common stocks in its portfolio, writing (selling) covered put options and, to a lesser extent, writing (selling) covered call and put options on indices of securities and sectors of securities. FUND MANAGEMENT: The Trust's investment adviser is BlackRock Advisors, LLC and the Trust's sub-advisor is BlackRock Capital Management, Inc.
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