Cash Management

We believe cash is a distinct investment category-different and unique from other fixed income strategies. At BlackRock we have investment personnel, credit research and risk management processes that are dedicated to the liquidity business. Today BlackRock is one of the largest cash management providers in the world. As we have grown we have sought to earn our clients' trust through multiple interest rate cycles and a wide variety of market events. We understand the importance of putting safety and liquidity first — not as a marketing message, but as the core of our investment philosophy.


Update on Fund Ratings

Following BlackRock's acquisition of BGI in December 2009, we observed that we have a variety of rating agencies applied in various combinations across our fund families. In order to simplify this we are going to consolidate over time to our two largest rating agencies across the funds - S&P and Moody's.

As part of this process, a number of funds will eliminate the AAA/V1+ rating from Fitch. It is important to note that this is not a reflection of a change in investment process or portfolio strategy, rather a business decision to increase consistency. We will continue to manage all funds within our strict management guidelines and risk controlled environment which is designed to ensure safety, liquidity and yield in that order.

BlackRock Liquidity Funds†

NASDAQ
Ticker		 Fund Code

Prime Funds
TempFund TMPXX 024
TempCash TMCXX 021

Government Funds
FedFund TFDXX 030
Federal Trust Fund TFFXX 011

Treasury Funds
T-Fund TSTXX 060
Treasury Trust Fund TTTXX 062

National Tax-Exempt Funds
MuniFund MFTXX 050
MuniCash MCSXX 048

State-Specific Tax-Exempt Funds
California Money Fund MUCXX 052
New Jersey Municipal Money
        Market Portfolio		 BNJXX 041
New York Money Fund MUNXX 053
North Carolina Municipal Money
        Market Portfolio		 PNCXX 047
Ohio Municipal Money Market Portfolio COIXX 004
Pennsylvania Municipal Money
       Market Portfolio		 PPIXX 040
Virginia Municipal Money Market
        Portfolio		 PVIXX 077

 

Ratings by S&P, Moody's, and/or Fitch apply to credit quality of a portfolio and are not a recommendation to buy, sell or hold securities of a fund, are subject to change, and do not remove market risks associated with investments in the fund.

Investments in money market funds are not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although the funds seek to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in the funds. PAST PERFORMANCE IS NO GUARANTEE OF FUTURE RESULTS. You should consider the investment objectives, risks and expenses of the BlackRock Liquidity Funds carefully before investing. The Funds' prospectuses contain this and other information about the Funds and are available by calling our Client Service Center at 800-821-7432 or by clicking on any of the fund names above. Please read the prospectus carefully before investing.

† TempFund, TempCash, FedFund, Federal Trust Fund, T-Fund, Treasury Trust Fund, MuniFund, MuniCash, California Money Fund and New York Money Fund are investment portfolios of BlackRock Liquidity Funds. The North Carolina Municipal Money Market, Ohio Municipal Money Market, Pennsylvania Municipal Money Market, Virginia Municipal Money Market and New Jersey Municipal Money Market Portfolios are investment portfolios of BlackRock Funds.