BMEZ

BlackRock Health Sciences Term Trust is a closed-end equity mutual fund with a defined termination date that invests primarily in equity securities of companies in the health sciences and related sectors. Managed by BlackRock Advisors, LLC, the fund provides investors with exposure to healthcare sector equities including pharmaceuticals, biotechnology, medical devices, healthcare services, life sciences tools, and healthcare technology. The "Term Trust" designation indicates the fund has a predetermined termination date when assets will be liquidated and proceeds distributed to shareholders, addressing investor concerns about perpetual closed-end fund discounts. The fund's portfolio emphasizes companies positioned to benefit from healthcare innovation, demographic trends, and growing global demand for medical products and services. Investment focus includes companies developing novel therapies and medical technologies, established healthcare companies with strong cash flows and dividends, and companies addressing unmet medical needs in areas such as oncology, rare diseases, metabolic disorders, and aging-related conditions. The investment team conducts fundamental research to identify companies with promising development pipelines, competitive advantages, strong management, and attractive risk-reward profiles. As a closed-end term trust, BlackRock Health Sciences Term Trust trades on exchanges at prices that may differ from net asset value (NAV). The defined termination date provides a natural catalyst for the discount to NAV to narrow as the fund approaches liquidation, offering potential additional return beyond the portfolio's performance. The fund may employ leverage to enhance returns and income. The trust provides distributions from dividends, capital gains, and potentially return of capital. The fund serves investors seeking healthcare sector exposure combined with the term structure's discount-narrowing dynamics. Healthcare offers secular growth driven by innovation, aging demographics, and rising healthcare spending, combined with defensive characteristics from inelastic demand. The term structure differentiates this fund from perpetual closed-end funds by providing a defined exit date, potentially making it attractive to investors concerned about long-term discounts. Performance depends on healthcare sector fundamentals, stock selection, overall market conditions, and the fund's discount to NAV dynamics as it approaches termination.