Prospectus - BlackRock

1 ProspectusBlackRock Global FundsJULY 2022 BlackRock Global Funds ProspectusMAY2022 Want to know more? | General enquiries: +852 3903-2800 | fund enquiries: +852 3903-2688 2022 BlackRock , Inc. All Rights reserved. BlackRock , BlackRock SOLUTIONS, iSHARES, SO WHAT DO I DO WITH MY MONEY, INVESTING FOR A NEW WORLD, and BUILT FOR THESE TIMES are registered and unregistered trademarks of BlackRock , Inc. or its subsidiaries in the United States and elsewhere. All other trademarks are those of their respective Registered Office: 2-4, rue Eug ne Ruppert L-2453 Luxembourg Grand Duchy of Luxembourg THIS DOCUMENT IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION. If you are in any doubt about the action to be taken you should consult your stockbroker, bank manager, solicitor, accountant, relationship manager or other professional adviser immediately.

2 27th July 2022 Suspension of the calculation of the NAV of BlackRock Global Funds Emerging Europe fund Reference is made to the notices to shareholders dated 1st March 2022, 1st April 2022, 29th April 2022, 27th May 2022 and 27th June 2022 on the suspension of the valuation (and consequently issues, redemptions and conversions) of all Share Classes of BlackRock Global Funds Emerging Europe fund ( the fund ) with effect from and including 1st March 2022 in accordance with the Prospectus and the Articles of Association of BlackRock Global Funds ( BGF ), and the subsequent notice dated 11th March 2022 updating you of the status of the suspension. We wish to notify you that the suspension will remain in place until further notice.

3 The depositary of BGF has been consulted and has no objection to this suspension decision. Dealing in the fund continues to be suspended. This means we are not able to accept any requests to buy, switch or redeem shares in the fund , received after 12:00 pm CET on Monday 28th February 2022. During this time any dealing requests received by the fund will be rejected. While the fund is suspended, you will be unable to buy, switch or redeem shares but you will continue to receive statements and updates. At this stage, we are unable to say how long the fund will be suspended for, but the decision will be reviewed on an ongoing basis. In the meantime, we continue to work as hard as we can on behalf of investors to manage the fund in accordance with its investment objectives and ensuring that the suspension can be lifted as soon as possible.

4 We will take the decision to lift this suspension as soon as we consider it is in the best interests of existing shareholders to do so and will post regular updates to our website at Please be reassured that the suspension of the fund has no impact on any other investments you may have in the BGF range. The directors of BGF accept responsibility for the contents of this letter. To the best of the knowledge and belief of the directors of BGF (who have taken all reasonable care to ensure that this is the case) the information contained in this letter is in accordance with the facts and does not omit anything likely to affect the impact of such information. We thank you for your patience and understanding during this challenging period.

5 If you have any questions, please contact BGF s Hong Kong Representative, BlackRock Asset Management North Asia Limited, at 16/F Champion Tower, 3 Garden Road, Central, Hong Kong or by telephone on +852 3903-2688. 1 Investors should note that the website has not been authorised or reviewed by the Securities and Futures Commission. NM0722U-2309688-2/243 RegisteredOffice:2-4, rue Eug neRuppertL-2453 LuxembourgGrandDuchyof LuxembourgTHISDOCUMENTIS you are in any doubtaboutthe contentyou shouldconsultyour relationshipmanageror July 2022 DearShareholderWe continuallyreviewour fund rangeto ensurethat the investmentcharacteristicsand positioningof our fundsremainboth relevantand consistentwith the currentinvestmentenvironmentand expectationsof our ,we, BlackRockAssetManagementNorthAsia Limited,as HongKongRepresentativeof BlackRockGlobalFunds(the "Company")are writingtonotifyyou of changesthat will be madeto certainsub-fundsof the Company(ISINsas listedin the AppendixI to this letter)(the"Funds").

6 The changesset out in this letterwill take effectfrom30 August2022(the "EffectiveDate")and this letterformsnoticetoshareholdersof the factsset out definedhereinshallhavethe samemeaningas set out in the prospectuscurrentlyin force( ) (the " Prospectus ").1. ESG ProspectusChangesChangesto the statementof investmentobjectivesand policiesof the FundsFromthe EffectiveDate,the investmentstrategyof the belowlistedFundswill changeto adoptEnvironmental,SocialandGovernance(" ESG")principles,or, wherespecified,the investmentstrategyof certainFundswhichalreadyapplyESGcommitme ntsshallbe furtherenhancedin this Fundswill continueto followthe sameinvestmentobjectivebut goingforwardwill do so in a mannerthat is consistentwith theprinciplesof changesproposedin this letterseekto betteralignthe Fundswith the expectationsof our shareholdersand futureclientsin lightof ongoingdevelopmentswithinthe assetmanagementsector,specificallyin relationto ESGinvestingwith the overallaim of seekingto providea comprehensive,sustainableapproachto enhancementsto the investmentstrategyof the belowlistedFundsare describedas follows.

7 FundsCommitmentsfrom the EffectiveDateWorldHealthscienceFundWorld TechnologyFundNextGenerationTechnologyFu ndEuropeanEquityIncomeFundEuro-MarketsFu ndEuropeanSpecialSituationsFundEuropeanF undWorldFinancialsFundGlobalLong-Horizon EquityFundSwissSmall& MidCapOpportunitiesFundApplicationof the followingESGcommitments:"Companiesare evaluatedby the InvestmentAdviserbasedon their abilityto managethe risksand opportunitiesassociatedwith ESGfactorsand their abilityto strategicallymanagelonger-termissuessurr oundingESGand the potentialimpactthis may haveon a company' that the websitehas not beenauthorisedor reviewedby the Securitiesand the EffectiveDateFinTechFundChinaFundEuropea nValueFundChinaFlexibleEquityFundThe InvestmentAdviserconductsenhancedanalysi son all companiesthat it considersto haveheightenedESGrisks,highercarbonemiss ionsand controversialbusinessactivities,In suchcircumstances.

8 The InvestmentAdvisermay determineanengagementagendafor discussionwith thosecompaniesin seekingto undertakethis analysis,the InvestmentAdviserusesitsfundamentalinsig htsand may use data providedby externalESGdata providers, Fundwill applyexclusionaryscreens,the BlackRockEMEAB aselineScreens,tothe companieswithinthe InvestmentAdviserthen appliesitsproprietary"FundamentalInsight s"methodology(the "Methodology",see ) to identifycompaniesthat wouldotherwisehavebeenexcludedby the exclusionaryscreensbut that it considersto be appropriateforinvestmenton the basisthat they are "in transition"and focusedon meetingsustainabilitycriteriaover time,or are otherwisemeetingothercriteriain accordancewith the Methodologyusesquantitativeand qualitativeinputsgeneratedby the InvestmentAdviser,its affiliatesand/orone or identifiedby the InvestmentAdviseras meetingthe criteriain theMethodologyfor investmentand is approvedin accordancewith the Methodology.

9 It iseligibleto be held by the the eventthat the InvestmentAdviserdeterminesthat a companyfails the criteriain theMethodology(in wholeor in part and at any time)or it is not engagingwith theInvestmentAdviseron a satisfactorybasis,it will be consideredfor divestmentby theFundin accordancewith the Methodology."SystematicChinaA-ShareOppor tunitiesFundApplicationof the the EMEA baselinescreenscan be DollarHighYieldBondFundGlobalHighYieldBo ndFundEuropeanHighYieldBondFundApplicati onof the BlackRockEMEAB aselineScreensas well as the introductionof thefollowingESGcommitment:"Issuersare evaluatedby the InvestmentAdviserbasedon their abilityto managetherisksand opportunitiesassociatedwith ESGconsistentbusinesspracticesand theirESGrisk and opportunitycredentials,suchas their leadershipand governanceframework,whichis consideredessentialfor sustainablegrowth.

10 Their abilitytostrategicallymanagelonger-termi ssuessurroundingESGand the potentialimpactthismay haveon an issuer' InvestmentAdvisermonitorsissuerswith lowerESGratingsand flaggedcontroversiesaccordingto third partydata InvestmentAdviserconductsenhancedanalysi son suchissuersthrougha watchlist'to identifyrelevantESGrelatedinformationtha t is not reflectedin the third partydata analysisand maydeterminean engagementagendafor discussionwith thoseissuersin seekingtoimprovetheir undertakethis analysis,the InvestmentAdvisermayuse data providedby externalESGdata providers,proprietarymodelsand localintelligenceand may undertakesite visits".ESGG lobalBondIncomeFund(to be renamedas"SustainableGlobalBondIncomeFun d")The fund 'sexistingESGprofilewill be enhancedby addinga commitmentto Fundwill also employa proprietarymethodologytoassessinvestment sbasedon the extentto whichthey are associatedwith positiveornegativeexternalitiesas well as a commitmentto investin "greenbonds"(as definedby its proprietarymethodologywhichis guidedby the InternationalCapitalMarketsAssociationGr eenBondPrinciples).