BlackRock Enhanced Capital and Income Fund, Inc. Approves Name and Investment Policy Changes
BlackRock Enhanced Capital and Income Fund (NYSE: CII) announced that its Board approved changing the fund's name to 'BlackRock Enhanced Large Cap Core Fund, Inc.' The Board also adopted a new 80% investment policy requiring the fund to invest at least 80% of its net assets plus borrowings in large cap equity securities and related derivatives. Large cap securities are defined as those within the Russell 1000® Index's market capitalization range at purchase. These changes will take effect on December 31, 2024, aligning with upcoming Names Rule amendments. The fund's investment objective, ticker symbol, and CUSIP remain unchanged.
Il BlackRock Enhanced Capital and Income Fund (NYSE: CII) ha annunciato che il suo Consiglio ha approvato la modifica del nome del fondo in 'BlackRock Enhanced Large Cap Core Fund, Inc.'. Il Consiglio ha anche adottato una nuova politica di investimento dell'80%, che richiede al fondo di investire almeno l'80% delle sue attività nette più i prestiti in titoli azionari a grande capitalizzazione e derivati correlati. I titoli a grande capitalizzazione sono definiti come quelli all'interno dell'intervallo di capitalizzazione di mercato dell'indice Russell 1000® al momento dell'acquisto. Queste modifiche entreranno in vigore il 31 dicembre 2024, in conformità con i prossimi emendamenti delle regole sui nomi. L'obiettivo d'investimento del fondo, il simbolo ticker e il CUSIP rimangono invariati.
El BlackRock Enhanced Capital and Income Fund (NYSE: CII) anunció que su Junta aprobó cambiar el nombre del fondo a 'BlackRock Enhanced Large Cap Core Fund, Inc.'. La Junta también adoptó una nueva política de inversión del 80%, que requiere que el fondo invierta al menos el 80% de sus activos netos más los préstamos en valores de renta variable de gran capitalización y derivados relacionados. Los valores de gran capitalización se definen como aquellos dentro del rango de capitalización de mercado del índice Russell 1000® en el momento de la compra. Estos cambios entrarán en vigor el 31 de diciembre de 2024, alineándose con las próximas enmiendas de la regla de nombres. El objetivo de inversión del fondo, el símbolo ticker y el CUSIP permanecen sin cambios.
블랙록 향상 자본 및 소득 펀드 (NYSE: CII)는 이사회가 펀드의 이름을 '블랙록 향상 대형주 핵심 펀드, Inc.'로 변경하는 것을 승인했다고 발표했습니다. 이사회는 또한 펀드가 순자산과 차입금의 최소 80%를 대형주 주식 및 관련 파생상품에 투자해야 하는 새로운 80% 투자 정책을 채택했습니다. 대형주 증권은 구매 시 러셀 1000® 인덱스의 시장 자본화 범위 내에 있는 것으로 정의됩니다. 이 변경 사항은 2024년 12월 31일에 시행되며, 다가오는 이름 규칙 개정과 일치합니다. 펀드의 투자 목표, 티커 기호 및 CUSIP는 변경되지 않습니다.
Le BlackRock Enhanced Capital and Income Fund (NYSE: CII) a annoncé que son conseil d'administration a approuvé la modification du nom du fonds en 'BlackRock Enhanced Large Cap Core Fund, Inc.'. Le conseil a également adopté une nouvelle politique d'investissement de 80%, exigeant que le fonds investisse au moins 80 % de ses actifs nets plus les emprunts dans des titres de capitaux propres à grande capitalisation et des dérivés connexes. Les titres à grande capitalisation sont définis comme ceux qui se situent dans la fourchette de capitalisation boursière de l'indice Russell 1000® au moment de l'achat. Ces changements entreront en vigueur le 31 décembre 2024, conformément aux futures modifications des règles de nomination. L'objectif d'investissement du fonds, le symbole boursier et le CUSIP restent inchangés.
Der BlackRock Enhanced Capital and Income Fund (NYSE: CII) hat angekündigt, dass der Vorstand die Änderung des Fondnamens in 'BlackRock Enhanced Large Cap Core Fund, Inc.' genehmigt hat. Der Vorstand hat auch eine neue 80%-Anlagestrategie festgelegt, die vorschreibt, dass der Fonds mindestens 80 % seiner Nettomittel zuzüglich Darlehen in Aktien mit großer Marktkapitalisierung und verwandte Derivate investiert. Aktien mit großer Marktkapitalisierung sind als solche definiert, die sich zum Zeitpunkt des Kaufs im Marktkapitalisierungsbereich des Russell 1000® Index befinden. Diese Änderungen treten am 31. Dezember 2024 in Kraft und stehen im Einklang mit den bevorstehenden Änderungen der Namensregel. Das Anlageziel des Fonds, das Tickersymbol und die CUSIP bleiben unverändert.
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Insights
This administrative change primarily aims to comply with upcoming regulatory requirements rather than signaling any material shift in investment strategy. The Fund will maintain its core focus but formalize its large-cap equity investment approach through the new 80% Policy. Key points to note:
- No changes to investment objective, ticker symbol (CII), or CUSIP
- The 80% investment policy aligns with current Russell 1000® Index constituents
- Implementation scheduled for December 31, 2024
This update reflects BlackRock's proactive compliance with the SEC's expanded Names Rule requirements. For investors, this represents a clarification of existing practices rather than a strategic pivot, maintaining transparency while preserving the fund's established investment approach.
After careful review of the Fund’s current investment strategies and portfolio holdings, the Fund’s investment adviser, BlackRock Advisors, LLC (“BlackRock”), recommended that the Board approve the name change and adoption of the
There will be no changes to the Fund’s investment objective, NYSE ticker symbol or CUSIP as a result of the name change or adoption of the
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Annual and Semi-Annual Reports and other regulatory filings of the Fund with the Securities and Exchange Commission (“SEC”) are accessible on the SEC's website at www.sec.gov and on BlackRock’s website at www.blackrock.com, and may discuss these or other factors that affect the Fund. The information contained on BlackRock’s website is not a part of this press release.
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Source: BlackRock Closed-End Funds
FAQ
When will BlackRock Enhanced Capital and Income Fund (CII) change its name?
What is the new 80% investment policy for BlackRock Enhanced Capital and Income Fund (CII)?
Will CII's ticker symbol change with the new name?
Why is BlackRock Enhanced Capital and Income Fund (CII) making these changes?
