A friend of mine states that BlackRock is so ruthless that they'll eat their young.
497 1 d154125d497.htm FFI TREASURY STRATEGIES BLACKROCK
FUNDS FOR INSTITUTIONS SERIES
BlackRock Select Government Institutional Fund
(each a “Fund” and collectively, the “Funds”)
Supplement dated March 2, 2016 to the
Prospectus of the Funds, dated January 4, 2016
The Board of Trustees of Funds For Institutions Series (the “Board”), on behalf of each Fund, recently approved certain changes to the principal investment strategies of the Funds in order to restrict each Fund’s eligible investments as described below. Each Fund would continue to meet the definition of a “government money market fund” under Rule 2a-7 under the Investment Company Act of 1940, as amended. The Board has chosen not to subject the Funds to discretionary or default liquidity fees or temporary suspensions of redemptions due to declines in a Fund’s weekly liquid assets. In connection with such changes, the Board also approved a change in the name of each Fund and the master portfolio corresponding to each Fund. These changes will become effective May 2, 2016. Investors should review carefully the specific changes to the prospectus of the Funds, which are detailed below.
Accordingly, effective May 2, 2016, the Funds’ prospectus is amended as follows:
Changes in the Funds’ and Master Portfolio’s Names
BlackRock Government Institutional Fund is renamed “BlackRock Treasury Strategies Institutional Fund”
BlackRock Select Government Institutional Fund is renamed “BlackRock Select Treasury Strategies Institutional Fund”
Master Government Institutional Portfolio is renamed “Master Treasury Strategies Institutional Portfolio”
Changes in the Funds’ Strategies
The section of the prospectus entitled “Fund Overview—Key Facts About BlackRock Government Institutional Fund—Principal Investment Strategies of the Fund” is deleted in its entirety and replaced with the following:
Principal Investment Strategies of the Fund
BlackRock Treasury Strategies Institutional Fund (“Treasury Strategies Institutional Fund”) will invest 100% of its total assets in cash, U.S. Treasury bills, notes and other obligations issued or guaranteed as to principal and interest by the U.S. Treasury, and repurchase agreements with the Federal Reserve Bank of New York secured by U.S. Treasury obligations. The Fund invests in securities maturing in 397 days (13 months) or less (with certain exceptions) and the portfolio will have a dollar-weighted average maturity of 60 days or less and a dollar-weighted average life of 120 days or less. The Fund may invest in variable or floating rate instruments, and transact in securities on a when-issued, delayed delivery or forward commitment basis.
The securities purchased by the Fund are subject to the quality, diversification, and other requirements of Rule 2a-7 under the Investment Company Act of 1940, as amended (the “Investment Company Act”), and other rules of the Securities and Exchange Commission (the “SEC”). The Fund will only purchase securities that present minimal credit risk as determined by BlackRock Advisors, LLC (“BlackRock”), the Fund’s investment manager, pursuant to guidelines approved by the Trust’s Board of Trustees.
The Fund is a “feeder” fund that invests all of its assets in Master Treasury Strategies Institutional Portfolio (“Treasury Strategies Institutional Portfolio”), which has the same investment objectives and strategies as the Fund. All investments are made at the Treasury Strategies Institutional Portfolio level. This structure is
sometimes called a “master/feeder” structure. The Fund’s investment results will correspond directly to the investment results of Treasury Strategies Institutional Portfolio. Where applicable, “Treasury Strategies Institutional Fund” or the “Fund” refers also to Treasury Strategies Institutional Portfolio.