BLACKROCK FUNDSSM
iShares Russell Mid-Cap Index Fund
(the “Fund”)
Supplement dated May 16, 2025 to the Statement of Additional Information (“SAI”) of the Fund, dated November 27, 2024, as amended or supplemented to date
Effective June 30, 2025, the following changes are made to the Fund’s SAI:
The section entitled “Management, Advisory and Other Service Arrangements — Information Regarding the Portfolio Managers” is revised as follows:
The first paragraph is deleted in its entirety and replaced with the following:
Jennifer Hsui, CFA, Matt Waldron, CFA, Peter Sietsema, CFA, and Steven White are the portfolio managers and are jointly and primarily responsible for the day-to-day management of the Fund.
The sub-section entitled “Other Funds and Accounts Managed” is deleted in its entirety and replaced with the following:
The following table sets forth information about the funds and accounts other than the Fund for which the Fund’s portfolio managers are primarily responsible for the day-to-day portfolio management as of July 31, 2024.
| Number of Other Accounts Managed and Assets by Account Type |
Number of Other Accounts and Assets for Which Advisory Fee is Performance-Based | |||||||||||
| Name of Portfolio Manager |
Other Registered Investment Companies |
Other Pooled Investment Vehicles |
Other Accounts |
Other Registered Investment Companies |
Other Pooled Investment Vehicles |
Other Accounts | ||||||
| Jennifer Hsui, CFA | 337 $2.46 Trillion |
0 $0 |
0 $0 |
0 $0 |
0 $0 |
0 $0 | ||||||
| Matt Waldron, CFA* | 0 $0 |
0 $0 |
0 $0 |
0 $0 |
0 $0 |
0 $0 | ||||||
| Peter Sietsema, CFA* | 70 $162.3 Billion |
3 $62.57 Million |
2 $4.02 Billion |
0 $0 |
0 $0 |
0 $0 | ||||||
| Steven White* | 0 $0 |
0 $0 |
0 $0 |
0 $0 |
0 $0 |
0 $0 | ||||||
| * | Information provided is as of December 31, 2024. |
The first paragraph of the sub-section entitled “Portfolio Manager Compensation Overview” is deleted in its entirety and replaced with the following:
The discussion below describes Jennifer Hsui’s compensation as of July 31, 2024 and Matt Waldron’s, Peter Sietsema’s and Steven White’s compensation as of December 31, 2024.
The last sentence of the first paragraph of the sub-section entitled “Portfolio Manager Compensation Overview — Discretionary Incentive Compensation” is deleted in its entirety and replaced with the following:
The performance of Messrs. Waldron, Sietsema and White and Ms. Hsui is not measured against a specific benchmark.
The sub-section entitled “Portfolio Manager Beneficial Holdings” is deleted in its entirety and replaced with the following:
The following table sets forth the dollar range of equity securities of the Fund beneficially owned by the portfolio managers as of July 31, 2024.
| Portfolio Manager |
Dollar Range of Equity Securities Beneficially Owned | ||||
| Jennifer Hsui, CFA | None | ||||
| Matt Waldron, CFA* | None | ||||
| Peter Sietsema, CFA* | None | ||||
| Steven White* | None | ||||
| * | Information provided is as of December 31, 2024. |
Shareholders should retain this Supplement for future reference.
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