N-CSRS 1 c48818_ncsrs.htm

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-CSR

CERTIFIED SHAREHOLDER REPORT OF REGISTERED

MANAGEMENT INVESTMENT COMPANIES

Investment Company Act file number:

811-21656

BlackRock Global Energy and Resources Trust

(Exact name of Registrant as specified in charter)

100 Bellevue Parkway, Wilmington, DE	19809
(Address of principal executive offices)	(Zip code)

Robert S. Kapito, President

BlackRock Global Energy and Resources Trust

40 East 52nd Street, New York, NY 10022

(Name and address of agent for service)

Registrant's telephone number, including area code:

888-825-2257

Date of fiscal year end:

October 31, 2007

Date of reporting period:

April 30, 2007

Item 1. Reports to Shareholders.

The Registrant’s semi-annual report transmitted to shareholders pursuant to Rule 30e-1 under the Investment Company Act of 1940 is as follows:

ALTERNATIVES BLACKROCK SOLUTIONS EQUITIES FIXED INCOME LIQUIDITY REAL ESTATE




	BlackRock Closed-End Funds


	SEMI-ANNUAL REPORT \| APRIL 30, 2007 (Unaudited)





BlackRock Dividend Achievers^TMTrust (BDV)

BlackRock Enhanced Dividend Achievers^TMTrust (BDJ)

BlackRock Strategic Dividend Achievers^TMTrust (BDT)

BlackRock Global Energy and Resources Trust (BGR)

BlackRock Global Equity Income Trust (BFD)

BlackRock Global Opportunities Equity Trust (BOE)

BlackRock Health Sciences Trust (BME)

BlackRock Real Asset Equity Trust (BCF)

BlackRock S&P Quality Rankings Global Equity Managed Trust (BQY)

BlackRock World Investment Trust (BWC)

NOT FDIC INSURED
MAY LOSE VALUE
NO BANK GUARANTEE

TABLE OF CONTENTS


Letter to Shareholders		1

Trusts’ Summaries		2

Portfolios of Investments		16

Financial Statements

Statements of Assets and Liabilities		59

Statements of Operations		61

Statements of Changes in Net Assets		63

Financial Highlights		66

Notes to Financial Statements		76

Dividend Reinvestment Plans		85

Additional Information		86

Section 19 Notices		87

BlackRock Privacy Principles

BlackRock is committed to maintaining the privacy of its current and former fund investors and individual clients (collectively, “Clients”) and to safeguarding their non-public personal information. The following information is provided to help you understand what personal information BlackRock collects, how we protect that information and why in certain cases we share such information with select parties.

If you are located in a jurisdiction where specific laws, rules or regulations require BlackRock to provide you with additional or different privacy-related rights beyond what is set forth below, then BlackRock will comply with those specific laws, rules or regulations.

BlackRock obtains or verifies personal non-public information from and about you from different sources, including the following: (i) information we receive from you or, if applicable, your financial intermediary, on applications, forms or other documents; (ii) information about your transactions with us, our affiliates, or others; (iii) information we receive from a consumer reporting agency; and (iv) from visits to our website.

BlackRock does not sell or disclose to non-affiliated third parties any non-public personal information about its Clients, except as permitted by law or as is necessary to respond to regulatory requests or to service Client accounts. These non-affiliated third parties are required to protect the confidentiality and security of this information and to use it only for its intended purpose.

We may share information with our affiliates to service your account or to provide you with information about other BlackRock products or services that may be of interest to you. In addition, BlackRock restricts access to non-public personal information about its Clients to those BlackRock employees with a legitimate business need for the information. BlackRock maintains physical, electronic and procedural safeguards that are designed to protect the non-public personal information of its Clients, including procedures relating to the proper storage and disposal of such information.

LETTER TO SHAREHOLDERS

April 30, 2007

Dear Shareholder:

We are pleased to present the semi-annual report for the Trusts for the six months ended April 30, 2007. This report contains the Trusts’ unaudited financial statements and a listing of the portfolios’ holdings.

The following table shows the Trusts’ closing market prices and net asset values (“NAV”) per share as of April 30, 2007.



Trust (Ticker)	Closing Market Price			NAV

BlackRock Dividend Achievers^TM Trust (BDV)		$	15.27	$	16.48

BlackRock Enhanced Dividend Achievers^TMTrust (BDJ)			15.00		15.04

BlackRock Strategic Dividend Achievers^TMTrust (BDT)			15.66		16.72

BlackRock Global Energy and Resources Trust (BGR)			30.24		32.98

BlackRock Global Equity Income Trust (BFD)			20.05		19.67

BlackRock Global Opportunities Equity Trust (BOE)			29.10		28.81

BlackRock Health Sciences Trust (BME)			27.84		28.42

BlackRock Real Asset Equity Trust (BCF)			15.70		17.07

BlackRock S&P Quality Rankings Global Equity Managed Trust (BQY)			18.68		20.40

BlackRock World Investment Trust (BWC)			17.39		17.33

The Trusts seek to provide long-term total return through a combination of current income and capital appreciation by investing in common stocks that pay above-average dividends and have the potential for capital appreciation.

BlackRock, Inc. (“BlackRock”), a world leader in asset management, is recognized for its emphasis on risk management and proprietary analytics, and for its reputation for managing money for the world’s largest institutional investors. As of March 31, 2007, BlackRock’s assets under management totaled over $1 trillion across various investment strategies. BlackRock is also a significant provider of risk management and advisory services that combine our capital markets expertise with our proprietarily developed risk management systems and technology. As of March 31, 2007, BlackRock provided risk management services to portfolios with aggregate assets of over $4.5 trillion. BlackRock Advisors, LLC and its affiliates, BlackRock Financial Management, Inc., BlackRock Capital Management, Inc., BlackRock Investment Management, LLC, BlackRock Investment Management International, Ltd. and State Street Research & Management Company, which manage the Trusts, are wholly owned subsidiaries of BlackRock.

On behalf of BlackRock, we thank you for your continued confidence and assure you that we remain committed to excellence in managing your assets.


Sincerely,



Laurence D. Fink	Ralph L. Schlosstein
Chief Executive Officer	President
BlackRock Advisors, LLC	BlackRock Advisors, LLC

TRUST SUMMARIES (unaudited)
APRIL 30, 2007

BlackRock Dividend Achievers^TMTrust (BDV)

Trust Information

Symbol on New York Stock Exchange:

BDV

Initial Offering Date:

December 23, 2003

Closing Market Price as of 4/30/07:

$15.27

Net Asset Value as of 4/30/07:

$16.48

Current Quarterly Distribution per Common Share:¹

$0.225

Current Annualized Distribution per Common Share:¹

$0.900

¹

The distribution is not constant and is subject to change. Past performance does not guarantee future results. A portion of the distribution may be deemed a tax return of capital or net realized gain at fiscal year end.

The table below summarizes the Trust’s market price and NAV:



	4/30/07		10/31/06		Change	High		Low

Market Price	$	15.27	$	14.86	2.76%	$	15.50	$	14.18

NAV	$	16.48	$	15.95	3.32%	$	16.62	$	15.48

The following chart shows the portfolio composition of the Trust’s long-term investments:


Portfolio Composition²

Sector	April 30, 2007		October 31, 2006

Financial Institutions	40	%	38	%

Energy	15		14

Consumer Products	14		15

Health Care	11		13

Conglomerates	5		4

Telecommunications	5		6

Real Estate Investment Trusts	4		5

Industrials	2		1

Technology	2		1

Automotive	1		1

Basic Materials	1		2


²	For Trust compliance purposes, the Trust’s sector and industry classifications refer to any one or more of the Standard Industry Codes as defined by the SEC. This definition may not apply for purposes of this report, which may combine sector and industry sub-classifications for reporting ease.

TRUST SUMMARIES (unaudited)
APRIL 30, 2007

BlackRock Enhanced Dividend Achievers^TMTrust (BDJ)

Trust Information

Symbol on New York Stock Exchange:

BDJ

Initial Offering Date:

August 31, 2005

Closing Market Price as of 4/30/07:

$

15.00

Net Asset Value as of 4/30/07:

$

15.04

Current Monthly Distribution per Common Share:¹

$

0.101875

Current Annualized Distribution per Common Share:¹

$

1.222500

¹

The distribution is not constant and is subject to change. Past performance does not guarantee future results. A portion of the distribution may be deemed a tax return of capital or net realized gain at fiscal year end.

The table below summarizes the Trust’s market price and NAV:



	4/30/07		10/31/06		Change	High		Low

Market Price	$	15.00	$	14.92	0.54%	$	15.60	$	14.19

NAV	$	15.04	$	14.88	1.08%	$	15.20	$	14.34

The following chart shows the portfolio composition of the Trust’s long-term investments:


Portfolio Composition²

Sector	April 30, 2007		October 31, 2006

Financial Institutions	42	%	40	%

Consumer Products	13		15

Energy	12		13

Health Care	12		16

Conglomerates	5		4

Real Estate Investment Trusts	5		5

Telecommunications	5		4

Industrials	2		1

Technology	2		1

Automotive	1		—

Basic Materials	1		1


²	For Trust compliance purposes, the Trust’s sector and industry classifications refer to any one or more of the Standard Industry Codes as defined by the SEC. This definition may not apply for purposes of this report, which may combine sector and industry sub-classifications for reporting ease.

TRUST SUMMARIES (unaudited)
APRIL 30, 2007

BlackRock Strategic Dividend Achievers™ Trust (BDT)


Trust Information

Symbol on New York Stock Exchange:	BDT

Initial Offering Date:	March 30, 2004

Closing Market Price as of 4/30/07:		$	15.66

Net Asset Value as of 4/30/07:		$	16.72

Current Quarterly Distribution per Common Share:¹		$	0.225

Current Annualized Distribution per Common Share:¹		$	0.900


¹	The distribution is not constant and is subject to change. Past performance does not guarantee future results. A portion of the distribution may be deemed a tax return of capital or net realized gain at fiscal year end.

The table below summarizes the Trust’s market price and NAV:



	4/30/07		10/31/06		Change		High		Low

Market Price	$	15.66	$	14.53	7.78	%	$	15.77	$	14.16

NAV	$	16.72	$	16.13	3.66	%	$	17.28	$	15.94

The following chart shows the portfolio composition of the Trust’s long-term investments:


Portfolio Composition²

Sector	April 30, 2007		October 31, 2006

Financial Institutions	37	%	41	%

Energy	18		17

Consumer Products	14		13

Real Estate Investment Trusts	10		10

Industrials	9		8

Automotive	4		4

Basic Materials	3		2

Technology	2		2

Building & Development	1		1

Health Care	1		1

Media	1		1


²	For Trust compliance purposes, the Trust’s sector and industry classifications refer to any one or more of the Standard Industry Codes as defined by the SEC. This definition may not apply for purposes of this report, which may combine sector and industry sub-classifications for reporting ease.

TRUST SUMMARIES (unaudited)
APRIL 30, 2007

BlackRock Global Energy and Resources Trust (BGR)


Trust Information

Symbol on New York Stock Exchange:	BGR

Initial Offering Date:	December 29, 2004

Closing Market Price as of 4/30/07:		$	30.24

Net Asset Value as of 4/30/07:		$	32.98

Current Quarterly Distribution per Common Share:¹		$	0.375

Current Annualized Distribution per Common Share:¹		$	1.500


¹	The distribution is not constant and is subject to change. Past performance does not guarantee future results. A portion of the distribution may be deemed a tax return of capital or net realized gain at fiscal year end.

The table below summarizes the Trust’s market price and NAV:



	4/30/07		10/31/06		Change		High		Low

Market Price	$	30.24	$	26.73	13.13	%	$	30.60	$	25.30

NAV	$	32.98	$	29.67	11.16	%	$	33.23	$	27.78

The following charts show the portfolio composition of the Trust’s long-term investments:


Portfolio Composition

Country	April 30, 2007		October 31, 2006

United States	63	%	64	%

Canada	17		20

Bermuda	3		4

Greece	3		—

Australia	2		2

Norway	2		3

United Kingdom	2		2

Brazil	1		1

Cayman Islands	1		—

Denmark	1		1

France	1		1

Hong Kong	1		—

Italy	1		1

Japan	1		—

Netherlands	1		1




Sector	April 30, 2007		October 31, 2006

Oil & Gas	34	%	35	%

Pipelines	25		25

Coal	13		13

Oil & Gas Services	9		10

Transportation	8		5

Gas	4		4

Mining	4		3

Chemicals	1		2

Commercial Services	1		1

Metal	1		1

Electric	—		1

TRUST SUMMARIES (unaudited)
APRIL 30, 2007

BlackRock Global Equity Income Trust (BFD)


Trust Information

Symbol on New York Stock Exchange:	BFD

Initial Offering Date:	March 30, 2007

Closing Market Price as of 4/30/07:		$	20.05

Net Asset Value as of 4/30/07:		$	19.67

Current Quarterly Distribution per Common Share:¹		$	0.475

Current Annualized Distribution per Common Share:¹		$	1.900


¹	The distribution is not constant and is subject to change. Past performance does not guarantee future results. A portion of the distribution may be deemed a tax return of capital or net realized gain at fiscal year end.

The table below summarizes the Trust’s market price and NAV:



	4/30/07		High		Low

Market Price	$	20.05	$	20.72	$	20.00

NAV	$	19.67	$	19.84	$	19.06

The following charts show the portfolio composition of the Trust’s long-term investments:


Portfolio Composition

Country	April 30, 2007

United States	49	%

United Kingdom	12

Japan	9

Germany	4

Australia	3

Canada	3

France	3

Italy	3

Netherlands	3

Switzerland	3

Sweden	2

Denmark	1

Finland	1

Greece	1

Hong Kong	1

Singapore	1

Spain	1

BlackRock Global Equity Income Trust (BFD) (continued)



Sector²	April 30, 2007

Financial Institutions	24	%

Energy	15

Consumer Products	11

Health Care	11

Industrials	8

Telecommunications	8

Technology	7

Basic Materials	6

Media	3

Entertainment & Leisure	2

Real Estate	2

Aerospace & Defense	1

Automotive	1

Transportation	1


²	For Trust compliance purposes, the Trust’s sector and industry classifications refer to any one or more of the Standard Industry Codes as defined by the SEC. This definition may not apply for purposes of this report, which may combine sector and industry sub-classifications for reporting ease.

TRUST SUMMARIES (unaudited)
APRIL 30, 2007

BlackRock Global Opportunities Equity Trust (BOE)


Trust Information

Symbol on New York Stock Exchange:	BOE

Initial Offering Date:	May 31, 2005

Closing Market Price as of 4/30/07:		$	29.10

Net Asset Value as of 4/30/07:		$	28.81

Current Quarterly Distribution per Common Share:¹		$	0.56875

Current Annualized Distribution per Common Share:¹		$	2.27500


¹	The distribution is not constant and is subject to change. Past performance does not guarantee future results. A portion of the distribution may be deemed a tax return of capital or net realized gain at fiscal year end.

The table below summarizes the Trust’s market price and NAV:



	4/30/07		10/31/06		Change		High		Low

Market Price	$	29.10	$	27.61	5.40	%	$	29.92	$	25.53

NAV	$	28.81	$	26.72	7.82	%	$	29.12	$	25.87

The following charts show the portfolio composition of the Trust’s long-term investments:


Portfolio Composition

Country	April 30, 2007		October 31, 2006

United States	33	%	28	%

United Kingdom	11		17

Germany	8		6

Netherlands	5		3

Canada	4		3

Hong Kong	4		5

Italy	4		4

Australia	3		4

France	3		2

Japan	3		4

Sweden	3		3

Switzerland	3		4

Brazil	2		1

Finland	2		2

Norway	2		2

Singapore	2		2

China	1		1

Denmark	1		1

Greece	1		—

Israel	1		—

Luxembourg	1		—

Mexico	1		1

Philippines	1		1

Taiwan	1		1

South Africa	—		1

South Korea	—		3

Spain	—		1

BlackRock Global Opportunities Equity Trust (BOE) (continued)



Sector²	April 30, 2007		October 31, 2006

Financial Institutions	21	%	22	%

Consumer Products	19		19

Energy	18		17

Telecommunications	8		7

Technology	7		4

Basic Materials	6		4

Real Estate	6		7

Industrials	5		4

Health Care	4		6

Building & Development	2		4

Aerospace & Defense	1		1

Entertainment & Leisure	1		1

Media	1		1

Transportation	1		1

Automotive	—		1

Containers & Packaging	—		1


²	For Trust compliance purposes, the Trust’s sector and industry classifications refer to any one or more of the Standard Industry Codes as defined by the SEC. This definition may not apply for purposes of this report, which may combine sector and industry sub-classifications for reporting ease.

TRUST SUMMARIES (unaudited)
APRIL 30, 2007

BlackRock Health Sciences Trust (BME)

Trust Information



Symbol on New York Stock Exchange:		BME

Initial Offering Date:	March 31, 2005

Closing Market Price as of 4/30/07:		$	27.84

Net Asset Value as of 4/30/07:		$	28.42

Current Quarterly Distribution per Common Share:¹		$	0.384375

Current Annualized Distribution per Common Share:¹		$	1.537500


¹	The distribution is not constant and is subject to change. Past performance does not guarantee future results. A portion of the distribution may be deemed a tax return of capital or net realized gain at fiscal year end.

The table below summarizes the Trust’s market price and NAV:



	4/30/07		10/31/06		Change	High		Low

Market Price	$	27.84	$	27.32	1.90%	$	28.65	$	25.34

NAV	$	28.42	$	27.74	2.45%	$	28.72	$	26.41

The following charts show the portfolio composition of the Trust’s long-term investments.

Portfolio Composition



Country	April 30, 2007		October 31, 2006

United States	91	%	83	%

Switzerland	8		12

France	1		—

Canada	—		2

United Kingdom	—		3



Sector	April 30, 2007		October 31, 2006

Healthcare Products	35	%	24	%

Pharmaceuticals	32		42

Biotechnology	22		20

Healthcare Services	7		10

Electronics	2		4

Distribution/Wholesale	1		—

Retail	1		—

TRUST SUMMARIES (unaudited)
APRIL 30, 2007

BlackRock Real Asset Equity Trust (BCF)

Trust Information



Symbol on New York Stock Exchange:	BCF

Initial Offering Date:	September 29, 2006

Closing Market Price as of 4/30/07:		$	15.70

Net Asset Value as of 4/30/07:		$	17.07

Current Monthly Distribution per Common Share:¹		$	0.0906

Current Annualized Distribution per Common Share:¹		$	1.0872


¹	The distribution is not constant and is subject to change. Past performance does not guarantee future results. A portion of the distribution may be deemed a tax return of capital or net realized gain at fiscal year end.

The table below summarizes the Trust’s market price and NAV:



	4/30/07		10/31/06		Change		High		Low

Market Price	$	15.70	$	15.00		4.67%	$	15.90	$	14.10

NAV	$	17.07	$	15.33		11.35%	$	17.37	$	14.78

The following charts show the portfolio composition of the Trust’s long-term investments:

Portfolio Composition



Country	April 30, 2007		October 31, 2006

United States	47	%	46	%

United Kingdom	14		13

Canada	12		14

Australia	9		8

South Africa	4		4

Brazil	3		4

Netherlands	2		2

Norway	2		2

Bermuda	1		1

China	1		1

France	1		1

Mexico	1		1

New Guinea	1		—

Peru	1		1

Russia	1		—

Switzerland	—		2



Sector	April 30, 2007		October 31, 2006

Mining	41	%	41	%

Oil & Gas	25		27

Chemicals	8		7

Oil & Gas Services	8		9

Forest Products & Paper	7		7

Coal	4		4

Machinery	3		2

Pipelines	2		2

Iron & Steel	1		—

Metal	1		1

TRUST SUMMARIES (unaudited)
APRIL 30, 2007

BlackRock S&P Quality Rankings Global Equity Managed Trust (BQY)

Trust Information



Symbol on American Stock Exchange:	BQY

Initial Offering Date:	May 28, 2004

Closing Market Price as of 4/30/07:		$	18.68

Net Asset Value as of 4/30/07:		$	20.40

Current Quarterly Distribution per Common Share:¹		$	0.225

Current Annualized Distribution per Common Share:¹		$	0.900


¹	The distribution is not constant and is subject to change. Past performance does not guarantee future results. A portion of the distribution may be deemed a tax return of capital or net realized gain at fiscal year end.

The table below summarizes the Trust’s market price and NAV:



	4/30/07		10/31/06		Change		High		Low

Market Price	$	18.68	$	16.36		14.18%	$	18.99	$	16.21

NAV	$	20.40	$	18.55		9.97%	$	20.59	$	18.36

The following charts show the portfolio composition of the Trust’s long-term investments:

Portfolio Composition



Country	April 30, 2007		October 31, 2006

United States	49	%	52	%

United Kingdom	10		12

Australia	7		6

Sweden	6		4

Canada	5		5

France	5		5

Japan	5		6

Italy	3		1

Germany	2		2

Hong Kong	2		2

Netherlands	2		2

Austria	1		1

Denmark	1		1

Finland	1		—

Spain	1		1

BlackRock S&P Quality Rankings Global Equity Managed Trust (BQY) (continued)



Sector²	April 30, 2007		October 31, 2006

Financial Institutions	26	%	27	%

Energy	15		15

Consumer Products	11		11

Technology	9		11

Real Estate	8		8

Industrials	7		5

Telecommunications	7		7

Health Care	6		5

Automotive	3		2

Basic Materials	3		3

Aerospace & Defense	1		1

Building & Development	1		2

Business Equipment & Services	1		2

Entertainment & Leisure	1		1

Media	1		—


²	For Trust compliance purposes, the Trust’s sector and industry classifications refer to any one or more of the Standard Industry Codes as defined by the SEC. This definition may not apply for purposes of this report, which may combine sector and industry sub-classifications for reporting ease.

TRUST SUMMARIES (unaudited)
APRIL 30, 2007

BlackRock World Investment Trust (BWC)

Trust Information



Symbol on New York Stock Exchange:	BWC

Initial Offering Date:	October 27, 2005

Closing Market Price as of 4/30/07:		$	17.39

Net Asset Value as of 4/30/07:		$	17.33

Current Monthly Distribution per Share:¹		$	0.11375

Current Annualized Distribution per Share:¹		$	1.36500


¹	The distribution is not constant and is subject to change. Past performance does not guarantee future results. A portion of the distribution may be deemed a tax return of capital or net realized gain at fiscal year end.

The table below summarizes the Trust’s market price and NAV:



	4/30/07		10/31/06		Change	High		Low

Market Price	$	17.39	$	16.59	4.82%	$	18.33	$	15.98

NAV	$	17.33	$	16.35	5.99%	$	17.52	$	15.84

The following charts show the portfolio composition of the Trust’s long-term investments:

Portfolio Composition



Country	April 30, 2007		October 31, 2006

United States	34	%	29	%

United Kingdom	8		12

Germany	7		5

Italy	6		5

Netherlands	5		4

Australia	4		4

Canada	4		3

France	4		2

Japan	4		8

Singapore	3		3

Sweden	3		4

Switzerland	3		5

Brazil	2		1

Hong Kong	2		4

Norway	2		1

China	1		2

Denmark	1		1

Finland	1		2

Greece	1		1

Israel	1		—

Luxembourg	1		—

Mexico	1		1

Philippines	1		1

Taiwan	1		1

Spain	—		1

BlackRock World Investment Trust (BWC) (continued)



Sector²	April 30, 2007		October 31, 2006

Financial Institutions	22	%	23	%

Energy	18		17

Consumer Products	17		18

Telecommunications	8		8

Basic Materials	6		4

Industrials	6		4

Technology	6		4

Health Care	5		6

Real Estate	5		6

Building & Development	2		3

Transportation	2		2

Aerospace & Defense	1		1

Entertainment & Leisure	1		—

Media	1		1

Automotive	—		2

Containers & Packaging	—		1


²	For Trust compliance purposes, the Trust’s sector and industry classifications refer to any one or more of the Standard Industry Codes as defined by the SEC. This definition may not apply for purposes of this report, which may combine sector and industry sub-classifications for reporting ease.

PORTFOLIO OF INVESTMENTS (unaudited)
APRIL 30, 2007

BlackRock Dividend Achievers^TMTrust (BDV)

(Percentages shown are based on Net Assets)


Shares		Description	Value

		LONG-TERM INVESTMENTS—99.3%
		Common Stocks—99.3%
		Aerospace & Defense—0.3%
	34,300	United Technologies Corp.	$	2,302,559

		Automotive—0.8%
	142,900	Genuine Parts Co.		7,060,689

		Basic Materials—1.1%
	69,300	PPG Industries, Inc.		5,099,094
	225,500	RPM Intl., Inc.		4,796,385

		Total Basic Materials		9,895,479

		Consumer Products—13.6%
	492,700	Altria Group, Inc.		33,956,884
	97,700	Anheuser-Busch Cos., Inc.		4,805,863
	481,900	Coca-Cola Co. (The)		25,150,361
	108,200	Home Depot, Inc.		4,097,534
	186,200	Kimberly-Clark Corp.		13,251,854
	340,960	Kraft Foods, Inc.		11,411,931
	158,100	La-Z-Boy, Inc.		1,848,189
	172,500	McDonald’s Corp.		8,328,300
	72,000	Procter & Gamble Co.		4,630,320
	48,300	Stanley Works (The)		2,814,924
	154,000	Universal Corp.		9,652,720
	29,000	VF Corp.		2,546,490

		Total Consumer Products		122,495,370

		Energy—14.7%
	120,000	Atmos Energy Corp.		3,806,400
	154,100	Briggs & Stratton Corp.		4,572,147
	582,900	Chevron Corp.		45,343,791
	357,500	Consolidated Edison, Inc.		18,325,450
	160,300	Exxon Mobil Corp.		12,724,614
	168,492	Integrys Energy Group, Inc.		9,452,401
	93,200	National Fuel Gas Co.		4,381,332
	199,700	Pinnacle West Capital Corp.		9,643,513
	339,300	Progress Energy, Inc.		17,151,615
	168,600	Vectren Corp.		4,901,202
	67,600	WGL Holdings, Inc.		2,287,584

		Total Energy		132,590,049

		Financial Institutions—39.7%
	75,000	Allstate Corp. (The)		4,674,000
	135,600	Arthur J. Gallagher & Co.		3,791,376
	803,600	Bank of America Corp.		40,903,240
	429,600	BB&T Corp.		17,879,952
	766,300	Citigroup, Inc.		41,089,006
	281,400	Comerica, Inc.		17,421,474
	346,000	Fifth Third Bancorp		14,044,140
	151,400	First Commonwealth Financial Corp.		1,685,082
	52,600	FirstMerit Corp.		1,098,288
	123,500	FNB Corp.		2,072,330
	41,200	Franklin Resources, Inc.		5,409,972
	272,400	Freddie Mac		17,646,072
	561,100	KeyCorp		20,020,048
	99,500	Lincoln National Corp.		7,079,425
	82,800	Mercury General Corp.		4,483,620
	783,800	National City Corp.		28,647,890
	104,200	SunTrust Banks, Inc.		8,796,564
	138,000	T. Rowe Price Group, Inc.		6,855,840
	992,100	U.S. Bancorp		34,078,635
	102,642	Valley National Bancorp		2,604,028


Shares			Description	Value

			Financial Institutions—(cont’d)
	92,000		Washington Federal, Inc.	$	2,181,320
	863,700		Washington Mutual, Inc.		36,258,126
	1,064,000		Wells Fargo & Co.		38,186,960

			Total Financial Institutions		356,907,388

			Health Care—11.3%
	174,100		Abbott Laboratories		9,857,542
	315,400		Eli Lilly & Co.		18,649,602
	257,500		Johnson & Johnson		16,536,650
	308,200		Merck & Co., Inc.		15,853,808
	1,529,500		Pfizer, Inc.		40,470,570

			Total Health Care		101,368,172

			Industrials—6.5%
	77,100		3M Co.		6,381,567
	33,300		Caterpillar, Inc.		2,418,246
	99,000		Emerson Electric Co.		4,652,010
	1,122,500		General Electric Co.		41,375,350
	207,200		ServiceMaster Co. (The)		3,188,808

			Total Industrials		58,015,981

			Real Estate Investment Trust—4.3%
	69,100		General Growth Properties, Inc.		4,412,035
	184,400		Health Care Property Investors, Inc.		6,525,916
	55,000		Healthcare Realty Trust, Inc.		1,873,300
	97,000		Home Properties, Inc.		5,402,900
	94,000		Lexington Realty Trust		1,963,660
	102,000		Liberty Property Trust		4,935,780
	89,200		National Retail Properties, Inc.		2,136,340
	85,900		Realty Income Corp.		2,396,610
	58,300		Sun Communities, Inc.		1,735,008
	167,400		United Dominion Realty Trust, Inc.		5,028,696
	57,800		Universal Health Realty Income Trust		2,035,716

			Total Real Estate Investment Trust		38,445,961

			Technology—2.0%
	50,100		Intl. Business Machines Corp.		5,120,721
	118,125		Linear Technology Corp.		4,420,238
	184,000		Pitney Bowes, Inc.		8,832,000

			Total Technology		18,372,959

			Telecommunications—5.0%
	1,162,300		AT&T, Inc.		45,004,256

			Total Common Stocks (cost $742,739,264)		892,458,863

			MONEY MARKET FUND—0.6%
	5,008,940	¹	Fidelity Institutional Money Market Prime Portfolio, 4.97% (cost $5,008,940)		5,008,940

			Total Investments—99.9% (cost $747,748,204²)	$	897,467,803
			Other assets in excess of liabilities—0.1%		1,190,030

			Net Assets—100.0%	$	898,657,833



¹	Represents current yield as of April 30, 2007.
²	Cost for federal income tax purposes is $746,805,111. The net unrealized appreciation on a tax basis is $150,662,692, consisting of $158,710,937 gross unrealized appreciation and $8,048,245 gross unrealized depreciation.

	For Trust compliance purposes, the Trust’s sector and industry classifications refer to any one or more of the Standard Industry Codes as defined by the SEC. This definition may not apply for purposes of this report, which may combine sector and industry sub-classifications for reporting ease.

See Notes to Financial Statements.

PORTFOLIO OF INVESTMENTS (unaudited)
APRIL 30, 2007

BlackRock Enhanced Dividend Achievers^TMTrust (BDJ)

(Percentages shown are based on Net Assets)


Shares			Description	Value

			LONG-TERM INVESTMENTS—94.4%
			Common Stocks—94.4%
			Aerospace & Defense—0.3%
	39,000		United Technologies Corp.	$	2,618,070

			Automotive—0.4%
	84,300		Genuine Parts Co.		4,165,263

			Basic Materials—1.2%
	88,600		PPG Industries, Inc.		6,519,188
	274,500		RPM Intl., Inc.		5,838,615

			Total Basic Materials		12,357,803

			Consumer Products—12.6%
	583,000		Altria Group, Inc.		40,180,360
	105,000		Anheuser-Busch Cos., Inc.		5,164,950
	662,400	¹	Coca-Cola Co. (The)		34,570,656
	129,100		Home Depot, Inc.		4,889,017
	152,500		Kimberly-Clark Corp.		10,853,425
	234,359		Kraft Foods, Inc.		7,843,996
	154,300		La-Z-Boy, Inc.		1,803,767
	200,800		McDonald’s Corp.		9,694,624
	86,100		Procter & Gamble Co.		5,537,091
	50,800		Stanley Works (The)		2,960,624
	90,900		Universal Corp.		5,697,612
	34,600		VF Corp.		3,038,226

			Total Consumer Products		132,234,348

			Energy—11.0%
	188,000	¹	Atmos Energy Corp.		5,963,360
	132,800	¹	Black Hills Corp.		5,286,768
	410,200	¹	Chevron Corp.		31,909,458
	420,400		Consolidated Edison, Inc.		21,549,704
	153,100		Exxon Mobil Corp.		12,153,078
	192,340		Integrys Energy Group, Inc.		10,790,274
	76,500		National Fuel Gas Co.		3,596,265
	84,100		Otter Tail Corp.		2,876,220
	117,000		Pinnacle West Capital Corp.		5,649,930
	225,600		Progress Energy, Inc.		11,404,080
	143,300		Vectren Corp.		4,165,731

			Total Energy		115,344,868

			Financial Institutions—40.0%
	41,600	¹	Allstate Corp. (The)		2,592,512
	182,700		Arthur J. Gallagher & Co.		5,108,292
	206,800		BancorpSouth, Inc.		5,081,076
	972,800	¹	Bank of America Corp.		49,515,520
	429,400	¹	BB&T Corp.		17,871,628
	91,300	¹	Chemical Financial Corp.		2,440,449
	944,682		Citigroup, Inc.		50,653,849
	287,700		Comerica, Inc.		17,811,507
	620,600		Fifth Third Bancorp		25,190,154
	207,200		First Commonwealth Financial Corp.		2,306,136
	174,800		FirstMerit Corp.		3,649,824
	149,700		FNB Corp.		2,511,966
	42,700		Franklin Resources, Inc.		5,606,937
	325,100		Freddie Mac		21,059,978
	293,701		Fulton Financial Corp.		4,323,279
	194,300		KeyCorp		6,932,624
	151,600		Lincoln National Corp.		10,786,340
	95,500		Mercury General Corp.		5,171,325
	657,300		National City Corp.		24,024,315


Shares			Description	Value

			Financial Institutions—(cont’d)
	129,600		Old Republic Intl. Corp.	$	2,756,592
	124,300		SunTrust Banks, Inc.		10,493,406
	138,900		T. Rowe Price Group, Inc.		6,900,552
	1,183,900		U.S. Bancorp		40,666,965
	230,350		Washington Federal, Inc.		5,461,598
	1,072,300		Washington Mutual, Inc.		45,015,154
	1,283,162		Wells Fargo & Co.		46,052,684

			Total Financial Institutions		419,984,662

			Health Care—11.3%
	92,000	¹	Abbott Laboratories		5,209,040
	574,500		Eli Lilly & Co.		33,970,185
	212,600		Johnson & Johnson		13,653,172
	355,300		Merck & Co., Inc.		18,276,632
	1,813,300	¹	Pfizer, Inc.		47,979,918

			Total Health Care		119,088,947

			Industrials—6.6%
	82,400		3M Co.		6,820,248
	39,800		Caterpillar, Inc.		2,890,276
	117,100		Emerson Electric Co.		5,502,529
	1,339,200		General Electric Co.		49,362,912
	333,900		ServiceMaster Co. (The)		5,138,721

			Total Industrials		69,714,686

			Real Estate Investment Trust—4.2%
	53,000		Colonial Properties Trust		2,629,330
	142,800		Duke Realty Corp.		6,156,108
	76,500		General Growth Properties, Inc.		4,884,525
	161,300		Health Care Property Investors, Inc.		5,708,407
	117,400		Healthcare Realty Trust, Inc.		3,998,644
	54,000		Home Properties, Inc.		3,007,800
	71,700		Kimco Realty Corp.		3,446,619
	144,700		Lexington Realty Trust		3,022,783
	53,200		Liberty Property Trust		2,574,348
	120,500		National Retail Properties, Inc.		2,885,975
	83,200		Sun Communities, Inc.		2,476,032
	102,400		United Dominion Realty Trust, Inc.		3,076,096

			Total Real Estate Investment Trust		43,866,667

			Technology—2.2%
	53,100		Intl. Business Machines Corp.		5,427,351
	162,000		Linear Technology Corp.		6,062,040
	244,600		Pitney Bowes, Inc.		11,740,800

			Total Technology		23,230,191

			Telecommunications—4.6%
	1,255,300	¹	AT&T, Inc.		48,605,216

			Total Common Stocks (cost $946,392,652)		991,210,721

			SHORT-TERM INVESTMENTS—7.4%
			Money Market Fund—3.1%
	32,961,170	²	Fidelity Institutional Money Market Prime Portfolio, 4.97%		32,961,170

See Notes to Financial Statements.

BlackRock Enhanced Dividend Achievers^TMTrust (BDJ) (continued)

(Percentages shown are based on Net Assets)


Principal Amount			Description	Value

			U.S. Government and Agency Discount Notes—4.3%
$	44,700,000	³	Federal Home Loan Bank Disc. Notes, 5.06%, 5/01/07	$	44,700,000

			Total Short-Term Investments (cost $77,661,170)		77,661,170

			Total Investments before outstanding options written (cost $1,024,053,822⁴)		1,068,871,891



Contracts

			OUTSTANDING OPTIONS WRITTEN—(1.1)%
			OUTSTANDING CALL OPTIONS WRITTEN—(1.1)%
	(45,000	)	3M Co., strike price $79, expires 06/15/07		(199,511	)
	(505	)	Abbott Laboratories, strike price $55, expires 05/21/07		(108,575	)
	(230	)	Allstate Corp. (The), strike price $62.50, expires 05/21/07		(14,950	)
	(245,100	)	Altria Group, Inc., strike price $70.45, expires 06/29/07		(282,240	)
	(50,000	)	Altria Group, Inc., strike price $87.25, expires 05/30/07		(254,910	)
	(20,000	)	Altria Group, Inc., strike price $89, expires 05/18/07		(67,878	)
	(32,000	)	Anheuser-Busch Cos, Inc., strike price $52.75, expires 06/29/07		(5,705	)
	(55,000	)	Arthur J. Gallagher & Co., strike price $28.70, expires 05/18/07		(5,817	)
	(460	)	Arthur J. Gallagher & Co., strike price $30, expires 07/23/07		(13,800	)
	(120,000	)	AT&T, Inc., strike price $37.50, expires 05/18/07		(179,005	)
	(394,000	)	AT&T, Inc., strike price $40, expires 06/05/07		(179,865	)
	(157,000	)	AT&T, Inc., strike price $40, expires 06/15/07		(79,966	)
	(200	)	AT&T, Inc., strike price $40, expires 07/23/07		(18,000	)
	(103,000	)	Atmos Energy Corp., strike price $31.40, expires 05/30/07		(92,906	)
	(400	)	BancorpSouth, Inc., strike price $25, expires 05/21/07		(14,000	)
	(340	)	BancorpSouth, Inc., strike price $25.50, expires 07/17/07		(21,151	)
	(3,100	)	Bank of America Corp., strike price $52.50, expires 05/21/07		(46,500	)
	(100,000	)	Bank of America Corp., strike price $53.50, expires 06/15/07		(14,158	)
	(100,000	)	Bank of America Corp., strike price $53.50, expires 07/30/07		(49,000	)
	(26,000	)	Bank of America Corp., strike price $54, expires 05/18/07		(1,326	)
	(100,000	)	BB&T Corp., strike price $42.95, expires 06/15/07		(46,834	)
	(500	)	BB&T Corp., strike price $43, expires 06/08/07		(19,267	)
	(44,000	)	BB&T Corp., strike price $43, expires 06/29/07		(25,604	)


Contracts			Description	Value

			OUTSTANDING CALL OPTIONS WRITTEN—(cont’d)
	(250	)	Black Hills Corp., strike price $37.50, expires 05/31/07	$	(65,512	)
	(300	)	Black Hills Corp., strike price $38.75, expires 05/07/07		(35,105	)
	(180	)	Black Hills Corp., strike price $40, expires 05/21/07		(12,600	)
	(220	)	Caterpillar, Inc., strike price $70, expires 05/21/07		(79,200	)
	(86,000	)	Chevron Corp., strike price $73, expires 05/18/07		(425,922	)
	(300	)	Citigroup, Inc., strike price $52.50, expires 06/18/07		(69,000	)
	(550	)	Citigroup, Inc., strike price $55, expires 06/18/07		(30,250	)
	(280,000	)	Citigroup, Inc., strike price $55, expires 06/29/07		(266,000	)
	(1,550	)	Citigroup, Inc., strike price $55, expires 07/06/07		(109,862	)
	(70,000	)	Coca-Cola Co. (The), strike price $48.20, expires 05/18/07		(283,819	)
	(120,000	)	Coca-Cola Co. (The), strike price $48.20, expires 05/30/07		(491,768	)
	(174,000	)	Coca-Cola Co. (The), strike price $52.10, expires 06/29/07		(198,685	)
	(14,000	)	Colonial Properties Trust, strike price $47.92, expires 06/15/07		(32,707	)
	(15,000	)	Colonial Properties Trust, strike price $49.15, expires 06/22/07		(25,285	)
	(500	)	Comerica, Inc., strike price $60, expires 07/23/07		(175,000	)
	(108,000	)	Comerica, Inc., strike price $64, expires 06/29/07		(88,707	)
	(21,000	)	Consolidated Edison, Inc., strike price $48.80, expires 06/15/07		(55,651	)
	(139,000	)	Consolidated Edison, Inc., strike price $49.50, expires 05/07/07		(245,356	)
	(71,000	)	Consolidated Edison, Inc., strike price $52, expires 07/20/07		(58,420	)
	(79,000	)	Duke Realty Corp., strike price $43.75, expires 06/15/07		(66,789	)
	(700	)	Eli Lilly & Co., strike price $60, expires 07/23/07		(91,000	)
	(245,500	)	Eli Lilly & Co., strike price $60.60, expires 06/29/07		(208,530	)
	(650	)	Emerson Electric Co., strike price $45, expires 06/18/07		(178,750	)
	(700	)	Exxon Mobil Corp., strike price $80, expires 07/23/07		(185,500	)
	(350	)	Fifth Third Bancorp, strike price $40, expires 05/21/07		(40,250	)
	(158,000	)	Fifth Third Bancorp, strike price $40.51, expires 07/20/07		(222,627	)
	(35,000	)	Fifth Third Bancorp, strike price $40.90, expires 06/22/07		(33,444	)
	(114,000	)	Fifth Third Bancorp, strike price $40.90, expires 06/29/07		(117,151	)

See Notes to Financial Statements.

BlackRock Enhanced Dividend Achievers^TMTrust (BDJ) (continued)

(Percentages shown are based on Net Assets)


Contracts			Description	Value

			OUTSTANDING CALL OPTIONS WRITTEN—(cont’d)
	(41,000	)	FNB Corp., strike price $18.25, expires 05/18/07	$	(592	)
	(250	)	Franklin Resources, Inc., strike price $135, expires 06/18/07		(82,500	)
	(20,000	)	Freddie Mac, strike price $65.75, expires 06/15/07		(27,729	)
	(1,590	)	Freddie Mac, strike price $66.13, expires 06/29/07		(238,678	)
	(88,000	)	General Electric Co., strike price $35.85, expires 06/15/07		(126,587	)
	(105,000	)	General Electric Co., strike price $36.40, expires 05/11/07		(67,450	)
	(50,000	)	General Electric Co., strike price $36.90, expires 06/15/07		(40,013	)
	(100,000	)	General Electric Co., strike price $37, expires 05/07/07		(15,174	)
	(167,500	)	General Electric Co., strike price $37.50, expires 07/20/07		(146,785	)
	(176,000	)	General Electric Co., strike price $37.50, expires 07/31/07		(162,800	)
	(500	)	General Electric Co., strike price $37.50, expires 09/24/07		(64,500	)
	(420	)	General Growth Properties, Inc., strike price $65, expires 05/21/07		(52,500	)
	(460	)	Genuine Parts Co., strike price $50, expires 05/21/07		(27,600	)
	(32,000	)	Healthcare Realty Trust, Inc., strike price $33.12, expires 05/25/07		(54,577	)
	(32,000	)	Healthcare Realty Trust, Inc., strike price $35.16, expires 06/13/07		(36,013	)
	(710	)	Home Depot, Inc., strike price $42.50, expires 05/21/07		(3,550	)
	(23,800	)	Home Properties, Inc., strike price $55.55, expires 06/15/07		(40,436	)
	(50	)	Home Properties, Inc., strike price $60, expires 07/23/07		(3,500	)
	(106,000	)	Integrys Energy Group, Inc., strike price $57.37, expires 07/12/07		(92,220	)
	(300	)	Intl. Business Machines Corp., strike price $97, expires 05/25/07		(169,542	)
	(265	)	Johnson & Johnson, strike price $65, expires 07/23/07		(35,775	)
	(900	)	Johnson & Johnson, strike price $65.50, expires 06/29/07		(81,503	)
	(58,000	)	KeyCorp, strike price $37.75, expires 05/30/07		(4,814	)
	(83,900	)	Kimberly-Clark Corp., strike price $71.95, expires 06/29/07		(113,461	)
	(350	)	Kimco Realty Corp., strike price $50, expires 05/21/07		(14,000	)
	(50	)	Kimco Realty Corp., strike price $50, expires 07/23/07		(6,500	)
	(185,000	)	Kraft Foods, Inc., strike price $33.63, expires 06/29/07		(182,780	)
	(20,000	)	La-Z-Boy, Inc., strike price $14.15, expires 05/30/07		(365	)


Contracts			Description	Value

			OUTSTANDING CALL OPTIONS WRITTEN—(cont’d)
	(200	)	La-Z-Boy, Inc., strike price $15, expires 07/23/07	$	(2,000	)
	(25,000	)	Lexington Realty Trust, strike price $21.50, expires 05/18/07		(2,583	)
	(25,000	)	Lexington Realty Trust, strike price $22, expires 06/15/07		(3,443	)
	(290	)	Liberty Property Trust, strike price $50, expires 06/18/07		(23,200	)
	(255	)	Lincoln National Corp., strike price $68, expires 05/30/07		(107,662	)
	(580	)	Lincoln National Corp., strike price $70, expires 07/23/07		(243,600	)
	(12	)	Linear Technology Corp., strike price $32.50, expires 05/21/07		(6,240	)
	(250	)	Linear Technology Corp., strike price $35, expires 05/21/07		(67,500	)
	(630	)	Linear Technology Corp., strike price $40, expires 06/18/07		(34,650	)
	(24,000	)	McDonald’s Corp., strike price $46, expires 05/18/07		(59,485	)
	(530	)	McDonald’s Corp., strike price $47.50, expires 06/18/07		(111,300	)
	(330	)	McDonald’s Corp., strike price $50, expires 06/18/07		(23,100	)
	(100,000	)	Merck & Co., Inc., strike price $44.75, expires 05/18/07		(674,297	)
	(132	)	Merck & Co., Inc., strike price $50, expires 05/21/07		(25,080	)
	(82,000	)	Merck & Co., Inc., strike price $53.02, expires 06/29/07		(87,429	)
	(525	)	Mercury General Corp., strike price $55, expires 06/18/07		(57,750	)
	(1,320	)	National City Corp., strike price $37.50, expires 06/05/07		(75,604	)
	(1,135	)	National City Corp., strike price $38.50, expires 07/06/07		(65,276)
	(116,000	)	National City Corp., strike price $38.87, expires 07/20/07		(68,600	)
	(42,000	)	National Fuel Gas Co., strike price $42.50, expires 05/08/07		(190,584	)
	(38,000	)	National Retail Properties, Inc., strike price $24.35, expires 06/15/07		(16,897	)
	(28,000	)	National Retail Properties, Inc., strike price $24.55, expires 05/04/07		(622	)
	(24,000	)	Old Republic Intl. Corp., strike price $22.50, expires 06/15/07		(2,519	)
	(23,000	)	Old Republic Intl. Corp., strike price $23.33, expires 05/18/07		(65	)
	(300	)	Otter Tail Corp., strike price $35, expires 05/21/07		(34,500	)
	(149	)	Otter Tail Corp., strike price $35, expires 07/23/07		(26,820	)
	(175,000	)	Pfizer, Inc., strike price $26.16, expires 06/15/07		(156,249	)
	(175,000	)	Pfizer, Inc., strike price $26.50, expires 06/29/07		(143,850	)

See Notes to Financial Statements.

BlackRock Enhanced Dividend Achievers^TMTrust (BDJ) (continued)

(Percentages shown are based on Net Assets)


Contracts			Description	Value

			OUTSTANDING CALL OPTIONS WRITTEN—(cont’d)
	(1,500	)	Pfizer, Inc., strike price $27.50, expires 06/18/07	$	(30,000	)
	(1,500	)	Pfizer, Inc., strike price $28, expires 07/06/07		(38,952	)
	(9,300	)	Pinnacle West Capital Corp., strike price $47.84, expires 05/10/07		(7,392	)
	(550	)	Pinnacle West Capital Corp., strike price $50, expires 07/23/07		(52,250	)
	(20,000	)	Pitney Bowes, Inc., strike price $48, expires 06/15/07		(20,915	)
	(20,300	)	Pitney Bowes, Inc., strike price $48.67, expires 05/04/07		(1,411	)
	(740	)	Pitney Bowes, Inc., strike price $49, expires 07/06/07		(63,282	)
	(200	)	Pitney Bowes, Inc., strike price $50, expires 07/20/07		(17,000	)
	(265	)	PPG Industries, Inc., strike price $70, expires 05/21/07		(108,650	)
	(22,000	)	PPG Industries, Inc., strike price $71, expires 06/15/07		(79,782	)
	(475	)	Procter & Gamble Co., strike price $65, expires 07/23/07		(87,875	)
	(60,000	)	Progress Energy, Inc., strike price $50.25, expires 05/11/07		(37,769	)
	(660	)	RPM Intl., Inc., strike price $22.50, expires 05/21/07		(6,600	)
	(684	)	SunTrust Banks, Inc., strike price $87.50, expires 05/04/07		(1,594	)
	(40,000	)	T. Rowe Price Group, Inc., strike price $51.89, expires 07/20/07		(47,459	)
	(36,000	)	T. Rowe Price Group, Inc., strike price $52.29, expires 06/15/07		(20,968	)
	(325,000	)	U.S. Bancorp, strike price $36.75, expires 05/18/07		(1,004	)
	(19,000	)	United Dominion Realty Trust, Inc., strike price $30.80, expires 06/22/07		(11,581	)
	(375	)	United Dominion Realty Trust, Inc., strike price $31.50, expires 05/15/07		(2,856	)
	(220	)	United Technologies Corp., strike price $70, expires 05/21/07		(3,300	)
	(500	)	Universal Corp., strike price $65, expires 06/18/07		(65,000	)
	(40,000	)	Vectren Corp., strike price $28.63, expires 05/18/07		(23,602	)
	(38,800	)	Vectren Corp., strike price $30.05, expires 06/29/07		(8,950	)
	(19,000	)	VF Corp., strike price $82.50, expires 05/18/07		(108,848	)
	(47,000	)	Washington Federal, Inc., strike price $23.50, expires 06/15/07		(37,301	)
	(48,000	)	Washington Federal, Inc., strike price $23.63, expires 05/18/07		(21,389	)
	(32,000	)	Washington Federal, Inc., strike price $24.31, expires 06/15/07		(13,688	)
	(1,000	)	Washington Mutual, Inc., strike price $42.50, expires 07/23/07		(175,000	)


Contracts			Description	Value

			OUTSTANDING CALL OPTIONS WRITTEN—(cont’d)
	(134,000	)	Washington Mutual, Inc., strike price $44.30, expires 06/29/07	$	(60,323	)
	(43,000	)	Washington Mutual, Inc., strike price $44.50, expires 07/20/07		(24,411	)
	(145,000	)	Washington Mutual, Inc., strike price $45.05, expires 05/18/07		(4,869	)
	(199,000	)	Wells Fargo & Co., strike price $35.10, expires 05/18/07		(200,570	)
	(306,000	)	Wells Fargo & Co., strike price $36.44, expires 06/22/07		(209,674	)
	(201,000	)	Wells Fargo & Co., strike price $36.82, expires 07/20/07		(154,770	)

			Total Outstanding Call Options Written (premium received $(9,873,080))		(11,585,742	)

			OUTSTANDING PUT OPTIONS WRITTEN—0.0%
	(1,000	)	Chevron Corp., strike price $75, expires 05/21/07		(45,000	)
	(700	)	Chevron Corp., strike price $76, expires 05/15/07		(34,735	)
	(100,000	)	Chevron Corp., strike price $77, expires 05/15/07		(83,176	)
	(1,350	)	Progress Energy, Inc., strike price $50, expires 05/21/07		(40,500	)
	(300	)	Stanley Works (The), strike price $60, expires 05/21/07		(42,000	)

			Total Outstanding Put Options Written (premium received $(361,702))		(245,411	)

			Total Outstanding Options Written (premium received $(10,234,782))		(11,831,153	)

			Total Investments net of outstanding options written—100.7%	$	1,057,040,738
			Liabilities in excess of other assets—(0.7)%		(7,502,147	)

			Net Assets—100.0%	$	1,049,538,591



¹	Security, or a portion thereof, pledged as collateral for outstanding options written.
²	Represents current yield as of April 30, 2007.
³	Rate shown is the yield to maturity as of the date of purchase.
⁴	Cost for federal income tax purposes is $1,042,633,867. The net unrealized appreciation on a tax basis is $26,238,024, consisting of $36,757,724 gross unrealized appreciation and $10,519,700 gross unrealized depreciation.

	For Trust compliance purposes, the Trust’s sector and industry classifications refer to any one or more of the Standard Industry Codes as defined by the SEC. This definition may not apply for purposes of this report, which may combine sector and industry sub-classifications for reporting ease.

See Notes to Financial Statements.

PORTFOLIO OF INVESTMENTS (unaudited)
APRIL 30, 2007

BlackRock Strategic Dividend Achievers^TMTrust (BDT)

(Percentages shown are based on Net Assets)


Shares		Description	Value

		LONG-TERM INVESTMENTS—97.8%
		Common Stocks—97.8%
		Automotive—3.9%
	207,000	Genuine Parts Co.	$	10,227,870
	97,200	Harsco Corp.		4,957,200
	95,000	Superior Industries Intl., Inc.		2,170,750

		Total Automotive		17,355,820

		Basic Materials—2.7%
	256,700	RPM Intl., Inc.		5,460,009
	155,300	Sonoco Products Co.		6,621,992

		Total Basic Materials		12,082,001

		Building & Development—0.7%
	111,500	ABM Industries, Inc.		3,137,610

		Consumer Products—14.3%
	152,000	Avery Dennison Corp.		9,454,400
	162,600	La-Z-Boy, Inc.		1,900,794
	82,000	Lancaster Colony Corp.		3,462,860
	82,300	Meridian Bioscience, Inc.		2,446,779
	76,800	Polaris Industries, Inc.		3,880,704
	167,450	Sherwin-Williams Co. (The)		10,678,287
	164,100	Stanley Works (The)		9,563,748
	146,900	SUPERVALU, Inc.		6,742,710
	65,900	Universal Corp.		4,130,612
	137,000	VF Corp.		12,029,970

		Total Consumer Products		64,290,864

		Energy—17.4%
	50,400	American States Water Co.		1,796,256
	174,200	Atmos Energy Corp.		5,525,624
	59,600	Black Hills Corp.		2,372,676
	66,000	California Water Service Group		2,565,420
	195,400	Consolidated Edison, Inc.		10,016,204
	168,912	Integrys Energy Group, Inc.		9,475,963
	217,200	MDU Resources Group, Inc.		6,581,160
	85,200	MGE Energy, Inc.		3,077,424
	146,400	National Fuel Gas Co.		6,882,264
	47,000	New Jersey Resources Corp.		2,523,900
	99,500	Otter Tail Corp.		3,402,900
	166,500	Peidmont Natural Gas Co.		4,393,935
	106,700	Pinnacle West Capital Corp.		5,152,543
	151,200	UGI Corp.		4,288,032
	182,200	Vectren Corp.		5,296,554
	149,000	WGL Holdings, Inc.		5,042,160

		Total Energy		78,393,015

		Financial Institutions—35.9%
	73,900	Alfa Corp.		1,325,766
	115,500	Arthur J. Gallagher & Co.		3,229,380
	249,515	Associated Banc-Corp		8,079,296
	138,300	Astoria Financial Corp.		3,673,248
	180,473	BancorpSouth, Inc.		4,434,221
	64,500	Bank of Hawaii Corp.		3,412,050
	55,679	Chemical Financial Corp.		1,488,300
	190,842	Cincinnati Financial Corp.		8,633,692
	30,766	Citizens Banking Corp.		615,628
	151,100	Comerica, Inc.		9,354,601
	101,200	Commerce Group, Inc.		3,300,132
	105,000	Community Bank System, Inc.		2,152,500


Shares			Description	Value

			Financial Institutions—(cont’d)
	158,400		Compass Bancshares, Inc.	$	10,799,712
	41,940		Erie Indemnity Co., Class A		2,203,947
	222,328		Fidelity National Financial, Inc.		5,667,141
	84,400		First Charter Corp.		1,851,736
	186,000		First Commonwealth Financial Corp.		2,070,180
	61,000		First Financial Holdings, Inc.		2,066,070
	174,400		FirstMerit Corp.		3,641,472
	140,000		FNB Corp.		2,349,200
	244,125		Fulton Financial Corp.		3,593,520
	100,900		Harleysville Group, Inc.		3,081,486
	43,348		Harleysville National Corp.		731,714
	73,600		Mercury General Corp.		3,985,440
	204,045		Old National Bancorp		3,648,324
	378,625		Old Republic Intl. Corp.		8,053,354
	38,805		Park National Corp.		3,444,720
	508,725	¹	People’s United Financial, Inc.		10,128,715
	295,000		Popular, Inc.		4,958,950
	236,907		Regions Financial Corp.		8,313,066
	59,800		S&T Bancorp, Inc.		1,947,088
	142,800		Sky Financial Group, Inc.		3,891,300
	96,600		Sterling Bancorp		1,672,146
	78,900		Susquehanna Bancshares, Inc.		1,757,892
	150,000		TCF Financial Corp.		4,062,000
	98,400		United Bankshares, Inc.		3,296,400
	175,130		Valley National Bancorp		4,443,048
	161,810		Washington Federal, Inc.		3,836,515
	68,400		WesBanco, Inc.		2,006,172
	112,200		Wilmington Trust Corp.		4,539,612

			Total Financial Institutions		161,739,734

			Health Care—1.1%
	80,000		Hillenbrand Industries, Inc.		4,892,000

			Industrials—9.3%
	46,300		Bandag, Inc.		2,335,372
	146,500		Bemis Co., Inc.		4,866,730
	320,000		Leggett & Platt, Inc.		7,526,400
	162,000		LSI Industries, Inc.		2,553,120
	74,600		McGrath RentCorp		2,249,190
	312,000		ServiceMaster Co. (The)		4,801,680
	97,600		Vulcan Materials Co.		12,070,192
	67,400		W.W. Grainger, Inc.		5,568,588

			Total Industrials		41,971,272

			Media—0.9%
	169,800		New York Times Co. (The)		3,973,320

			Real Estate Investment Trust—9.5%
	67,000		Colonial Properties Trust		3,323,870
	91,000		Duke Realty Corp.		3,923,010
	44,400		EastGroup Properties, Inc.		2,224,884
	97,300		Health Care Property Investors, Inc.		3,443,447
	63,600		Healthcare Realty Trust, Inc.		2,166,216
	132,000		Lexington Realty Trust		2,757,480
	71,500		Liberty Property Trust		3,459,885
	148,200		National Retail Properties, Inc.		3,549,390
	122,700		Realty Income Corp.		3,423,330
	86,500		Sun Communities, Inc.		2,574,240
	70,300		United Dominion Realty Trust, Inc.		2,111,812

See Notes to Financial Statements.

BlackRock Strategic Dividend Achievers^TMTrust (BDT) (continued)

(Percentages shown are based on Net Assets)


Shares			Description	Value

			Real Estate Investment Trust—(cont’d)
	89,200		Universal Health Realty Income Trust	$	3,141,624
	70,500		Washington Real Estate Investment Trust		2,669,130
	81,150		Weingarten Realty Investors		3,883,839

			Total Real Estate Investment Trust		42,652,157

			Technology—2.1%
	197,700		Pitney Bowes, Inc.		9,489,600

			Total Common Stocks (cost $361,458,690)		439,977,393

			MONEY MARKET FUND—2.2%
	9,860,577	²	Fidelity Institutional Money Market Prime Portfolio, 4.97% (cost $9,860,577)		9,860,577

			Total Investments—100.0% (cost $371,319,267³)	$	449,837,970
			Other assets in excess of liabilities—0.0%		97,638

			Net Assets—100.0%	$	449,935,608



¹	Security is fair valued.
²	Represents current yield as of April 30, 2007.
³	Cost for federal income tax purposes is $370,478,957. The net unrealized appreciation on a tax basis is $79,359,013, consisting of $89,083,233 gross unrealized appreciation and $9,724,220 gross unrealized depreciation.

	For Trust compliance purposes, the Trust’s sector and industry classifications refer to any one or more of the Standard Industry Codes as defined by the SEC. This definition may not apply for purposes of this report, which may combine sector and industry sub-classifications for reporting ease.

See Notes to Financial Statements.

PORTFOLIO OF INVESTMENTS (unaudited)
APRIL 30, 2007

BlackRock Global Energy and Resources Trust (BGR)

(Percentages shown are based on Net Assets)


Shares			Description	Value

			LONG-TERM INVESTMENTS—95.5%
			Common Stocks—95.5%
			Chemicals—0.8%
	41,100		Potash Corp. of Saskatchewan	$	7,378,272

			Coal—12.6%
	507,200	¹	Arch Coal, Inc.		18,294,704
	537,200	¹	Consol Energy, Inc.		22,492,564
	486,800		Massey Energy Co.		13,109,524
	710,370		Natural Resources Partners LP		25,544,905
	466,600		Peabody Energy Corp.		22,387,468
	104,600		Penn Virginia GP Holdings LP		3,108,712
	644,700	¹	Penn Virginia Resource Partners LP		18,696,300

			Total Coal		123,634,177

			Commercial Services—0.7%
	1,236,200		Eveready Income Fund		6,404,316

			Electric—0.5%
	52,800		Dominion Resources, Inc.		4,815,360

			Gas—3.5%
	210,000	¹	Atmos Energy Corp.		6,661,200
	613,800		Keyera Facilities Income Fund		10,535,084
	303,100		NiSource, Inc.		7,453,229
	244,600		South Jersey Industries, Inc.		9,605,442

			Total Gas		34,254,955

			Iron & Steel—0.2%
	50,000		Tenaris S.A. (ADR)		2,318,000

			Metal—0.5%
	19,000		Vallourec		5,174,628

			Mining—3.5%
	207,100	¹	BHP Billiton Ltd. (ADR)		10,114,764
	55,000		Cameco Corp.		2,564,100
	39,336		Goldcorp, Inc.		957,438
	368,800	²	NovaGold Resources, Inc.		5,236,960
	40,880		Rio Tinto Plc		2,484,070
	7,300		Rio Tinto Plc (ADR)		1,781,200
	146,700	²	Silver Wheaton Corp.		1,631,304
	44,800		Teck Cominco Ltd., Class B		3,394,209
	470,700		Zinifex Ltd.		6,428,791

			Total Mining		34,592,836

			Oil & Gas—32.5%
	32,300		Apache Corp.		2,341,750
	364,000		ARC Energy Trust		7,156,032
	535,600		Baytex Energy Trust		10,133,886
	730,273		BG Group Plc		10,523,220
	86,600	²	Bill Barrett Corp.		3,195,540
	108,000		Bonavista Energy Trust		3,040,814
	143,500	¹	Canadian Natural Resources Ltd.		8,554,035
	296,900		Chesapeake Energy Corp.		10,020,375
	309,800	²	Compton Petroleum Corp.		3,310,413
	44,800		Devon Energy Corp.		3,264,576
	76,000	¹	Diamond Offshore Drilling, Inc.		6,505,600
	68,100		EnCana Corp.		3,571,845
	124,400		Enerplus Resources Fund		5,406,844
	124,800		ENSCO Intl., Inc.		7,036,224
	309,700		EOG Resources, Inc.		22,744,368
	65,000	²	Exploration Co. of Delaware, Inc. (The)		674,050
	215,417	²	Fairquest Energy Ltd.		640,487


Shares			Description	Value

			Oil & Gas—(cont’d)
	318,300		Focus Energy Trust	$	5,405,852
	205,500	²	Forest Oil Corp.		7,241,820
	116,100		GlobalSantaFe Corp.		7,422,273
	412,100		Helmerich & Payne, Inc.		13,306,709
	111,700		Hess Corp.		6,338,975
	124,400		Husky Energy, Inc.		9,487,756
	93,100		Marathon Oil Corp.		9,454,305
	186,100	²	Newfield Exploration Co.		8,141,875
	130,400		Noble Corp.		10,980,984
	179,300		Noble Energy, Inc.		10,544,633
	260,100		Norsk Hydro ASA		8,965,205
	18,700		Penn West Energy Trust		559,197
	131,900		Petroleo Brasileiro S.A. (ADR)		13,352,237
	51,800	²	Plains Exploration & Production Co.		2,434,082
	203,600		Precision Drilling Trust		4,900,652
	98,200	²	Pride Intl., Inc.		3,221,942
	224,700		Progress Energy Trust		2,818,113
	102,100	²	Quicksilver Resources, Inc.		4,273,906
	115,000		Range Resources Corp.		4,203,250
	257,600	²	SeaDrill Ltd.		4,184,130
	50,000	²	Southwestern Energy Co.		2,100,000
	353,400	²	Statoil ASA (ADR)		9,919,938
	89,100		Suncor Energy, Inc.		7,172,550
	227,000		Talisman Energy, Inc.		4,313,000
	26,500		Total S.A. (ADR)		1,952,785
	252,900		Transocean, Inc.		21,799,980
	44,700	²	Unit Corp.		2,554,605
	37,200		Valero Energy Corp.		2,612,556
	399,900		Vermilion Energy Trust		12,160,217
	85,800		XTO Energy, Inc.		4,656,366
	174,200		Zargon Energy Trust		4,386,783

			Total Oil & Gas		318,986,735

			Oil & Gas Services—8.8%
	82,400	²	Acergy S.A.		1,762,346
	195,000	²	Acergy S.A. (ADR)		4,174,950
	63,800	²	Cameron Intl. Corp.		4,119,566
	86,231	²	Core Laboratories N.V.		7,840,122
	72,000	²	FMC Technologies, Inc.		5,103,360
	136,500	²	Grant Prideco, Inc.		7,035,210
	88,700	²	Helix Energy Solutions Group, Inc.		3,393,662
	181,900	²	Hercules Offshore, Inc.		5,717,117
	108,058	²	National Oilwell Varco, Inc.		9,168,721
	355,200		Saipem S.p.A.		11,116,677
	199,800	²	Savanna Energy Services Corp.		3,915,353
	115,100		SBM Offshore N.V.		4,124,143
	81,600		Schlumberger Ltd.		6,024,528
	252,924	²	Weatherford Intl. Ltd.		13,275,981

			Total Oil & Gas Services		86,771,736

			Pipelines—24.2%
	451,400		AltaGas Income Trust		10,858,979
	262,600	¹	Boardwalk Pipeline Partners LP		9,608,534
	51,387	¹	Crosstex Energy LP		1,849,932
	420,000	¹	Energy Transfer Partners LP		26,287,800
	756,905		Enterprise Products Partners LP		24,561,567
	262,200		Equitable Resources, Inc.		13,637,022
	181,829	²	Kinder Morgan Management LLC		9,662,393

See Notes to Financial Statements.

BlackRock Global Energy and Resources Trust (BGR) (continued)

(Percentages shown are based on Net Assets)


Shares			Description	Value

			Pipelines—(cont’d)
	440,400		Magellan Midstream Partners LP	$	22,367,916
	176,200		NuStar Energy LP		12,184,230
	292,600		ONEOK Partners LP		20,759,970
	165,500		ONEOK, Inc.		8,011,855
	265,500		Pembina Pipeline Income Fund		3,946,977
	313,500		Plains All American Pipeline LP		18,493,365
	95,100		Questar Corp.		9,237,063
	1,125,000		Spectra Energy Income Fund		10,693,531
	300,000		Targa Resources Partners LP		9,606,000
	204,400		TEPPCO Partners LP		9,310,420
	338,000	¹	Williams Partners LP		16,200,340

			Total Pipelines		237,277,894

			Transportation—7.7%
	600		AP Moller - Maersk A/S		6,776,364
	800,000		Aries Maritime Transport Ltd.		7,512,000
	725,000		Double Hull Tankers, Inc.		11,549,250
	172,900		Nordic American Tanker Shipping		6,660,108
	600,000	²	OceanFreight, Inc.		11,610,000
	390,400		Seaspan Corp.		10,962,432
	546,000		Ship Finance Intl. Ltd.		16,238,040
	123,200		DryShips, Inc.		4,358,816

			Total Transportation		75,667,010

			Total Common Stocks (cost $699,876,950)		937,275,919

			SHORT-TERM INVESTMENTS—4.3%
			Money Market Fund—3.0%
	29,820,178	³	Fidelity Institutional Money Market Prime Portfolio, 4.97%		29,820,178


Principal
Amount

			U.S. Government and Agency Discount Notes—1.3%
$	12,500,000	⁴	Federal Home Loan Bank Disc. Notes, 5.06%, 5/01/07		12,500,000

			Total Short-Term Investments (cost $42,320,178)		42,320,178

			Total Investments before outstanding options written (cost $742,197,128⁵)		979,596,097


Contracts

			OUTSTANDING OPTIONS WRITTEN—(0.8)%
			OUTSTANDING CALL OPTIONS WRITTEN—(0.8)%
	(250	)	Acergy S.A. (ADR), strike price $21, expires 05/15/07		(19,303	)
	(250	)	Acergy S.A. (ADR), strike price $22.50, expires 05/21/07		(8,750	)
	(250	)	Acergy S.A. (ADR), strike price $22.50, expires 08/20/07		(33,750	)
	(200	)	AP Moller - Maersk A/S, strike price 58 DKK, expires 05/31/07		(109,601	)
	(250	)	Arch Coal, Inc., strike price $35, expires 07/23/07		(82,500	)
	(25,000	)	Arch Coal, Inc., strike price $36, expires 05/18/07		(29,868	)


Contracts			Description	Value

			OUTSTANDING CALL OPTIONS WRITTEN—(cont’d)
	(250	)	Arch Coal, Inc., strike price $37, expires 05/30/07	$	(27,484	)
	(25,000	)	Arch Coal, Inc., strike price $38, expires 06/15/07		(27,531	)
	(800	)	Arch Coal, Inc., strike price $40, expires 07/23/07		(96,000	)
	(150,000	)	BG Group Plc, strike price 7.13 GBP, expires 05/08/07		(61,937	)
	(10,000	)	BG Group Plc, strike price 7.54 GBP, expires 06/12/07		(3,761	)
	(100	)	BG Group Plc, strike price 8 GBP, expires 06/15/07		(48,992	)
	(250	)	BHP Billiton Ltd. (ADR), strike price $45.50, expires 05/31/07		(99,111	)
	(100	)	BHP Billiton Ltd. (ADR), strike price $47.50, expires 05/21/07		(23,500	)
	(200	)	BHP Billiton Ltd. (ADR), strike price $52.50, expires 06/18/07		(18,000	)
	(300	)	Bill Barrett Corp., strike price $40, expires 06/18/07		(24,000	)
	(10,000	)	Cameco Corp., strike price $41, expires 05/18/07		(58,504	)
	(100	)	Cameco Corp., strike price $50, expires 05/21/07		(4,300	)
	(100	)	Cameco Corp., strike price $50, expires 06/18/07		(13,500	)
	(200	)	Cameron Intl. Corp., strike price $60, expires 05/21/07		(126,000	)
	(200	)	Canadian Natural Resources Ltd., strike price $55, expires 06/18/07		(116,000	)
	(20,000	)	Canadian Natural Resources Ltd., strike price $55.50, expires 05/18/07		(89,653	)
	(200	)	Canadian Natural Resources Ltd., strike price $60, expires 06/18/07		(64,200	)
	(250	)	Chesapeake Energy Corp., strike price $32.50, expires 07/23/07		(62,500	)
	(25,000	)	Chesapeake Energy Corp., strike price $32.55, expires 05/18/07		(37,294	)
	(350	)	Chesapeake Energy Corp., strike price $35, expires 07/23/07		(36,750	)
	(250	)	Consol Energy, Inc., strike price $40, expires 07/23/07		(105,000	)
	(25,000	)	Consol Energy, Inc., strike price $40.50, expires 06/15/07		(75,281	)
	(25,000	)	Consol Energy, Inc., strike price $41, expires 05/18/07		(46,722	)
	(500	)	Consol Energy, Inc., strike price $45, expires 07/23/07		(95,000	)
	(100	)	Core Laboratories N.V., strike price $90, expires 05/21/07		(38,000	)
	(250	)	Core Laboratories N.V., strike price $90, expires 06/18/07		(117,500	)
	(100	)	Devon Energy Corp., strike price $75, expires 07/23/07		(30,000	)
	(250	)	Diamond Offshore Drilling, Inc., strike price $88, expires 06/29/07		(74,179	)

See Notes to Financial Statements.

BlackRock Global Energy and Resources Trust (BGR) (continued)

(Percentages shown are based on Net Assets)


Contracts			Description	Value

			OUTSTANDING CALL OPTIONS WRITTEN—(cont’d)
	(100	)	Diamond Offshore Drilling, Inc., strike price $90, expires 06/18/07	$	(19,500	)
	(20,000	)	Dominion Resources, Inc., strike price $86, expires 05/18/07		(110,750	)
	(325	)	Dominion Resources, Inc., strike price $90, expires 05/21/07		(76,375	)
	(200	)	DryShips, Inc., strike price $25, expires 06/18/07		(218,000	)
	(100	)	DryShips, Inc., strike price $30, expires 05/21/07		(58,000	)
	(10,000	)	EnCana Corp., strike price $51, expires 05/18/07		(20,198	)
	(25,000	)	EnCana Corp., strike price $54, expires 06/15/07		(29,791	)
	(100	)	EnCana Corp., strike price $55, expires 07/23/07		(16,500	)
	(25,000	)	ENSCO Intl., Inc., strike price $55, expires 05/18/07		(57,832	)
	(250	)	ENSCO Intl., Inc., strike price $57, expires 06/29/07		(62,500	)
	(150	)	ENSCO Intl., Inc., strike price $60, expires 06/18/07		(24,000	)
	(150	)	EOG Resources, Inc., strike price $75, expires 05/21/07		(20,250	)
	(250	)	EOG Resources, Inc., strike price $75, expires 07/23/07		(100,000	)
	(25,000	)	EOG Resources, Inc., strike price $76, expires 05/18/07		(19,958	)
	(300	)	EOG Resources, Inc., strike price $80, expires 07/23/07		(57,000	)
	(100	)	EOG Resources, Inc., strike price $85, expires 07/23/07		(6,500	)
	(300	)	Exploration Co. of Delaware, Inc. (The), strike price $11.50, expires 05/30/07		(7,003	)
	(350	)	Forest Oil Corp., strike price $35, expires 05/21/07		(38,500	)
	(250	)	Forest Oil Corp., strike price $36, expires 06/29/07		(31,391	)
	(200	)	GlobalSantaFe Corp., strike price $65, expires 05/21/07		(31,000	)
	(10,000	)	Grant Prideco, Inc., strike price $48, expires 05/18/07		(40,315	)
	(200	)	Grant Prideco, Inc., strike price $55, expires 05/21/07		(12,000	)
	(100	)	Grant Prideco, Inc., strike price $55, expires 07/23/07		(23,000	)
	(100	)	Helix Energy Solutions Group, Inc., strike price $35, expires 06/18/07		(44,000	)
	(150	)	Helix Energy Solutions Group, Inc., strike price $40, expires 06/18/07		(19,500	)
	(100	)	Helmerich & Payne, Inc., strike price $30, expires 06/18/07		(33,000	)
	(40,000	)	Helmerich & Payne, Inc., strike price $32, expires 05/30/07		(50,402	)
	(50,000	)	Helmerich & Payne, Inc., strike price $33, expires 05/30/07		(39,490	)


Contracts			Description	Value

			OUTSTANDING CALL OPTIONS WRITTEN—(cont’d)
	(250	)	Hercules Offshore, Inc., strike price $35, expires 06/18/07	$	(11,250	)
	(100	)	Hess Corp., strike price $55, expires 05/21/07		(32,000	)
	(125	)	Hess Corp., strike price $57.50, expires 05/30/07		(19,046	)
	(20,000	)	Hess Corp., strike price $58.75, expires 06/15/07		(31,425	)
	(100	)	Husky Energy, Inc., strike price 82 CAD, expires 05/21/07		(32,661	)
	(300	)	Husky Energy, Inc., strike price 84 CAD, expires 07/23/07		(118,930	)
	(125	)	Marathon Oil Corp., strike price $105, expires 05/21/07		(18,750	)
	(300	)	Marathon Oil Corp., strike price $105, expires 07/23/07		(120,000	)
	(200	)	National Oilwell Varco, Inc., strike price $70, expires 05/21/07		(308,000	)
	(100	)	National Oilwell Varco, Inc., strike price $80, expires 05/21/07		(57,000	)
	(100	)	National Oilwell Varco, Inc., strike price $85, expires 05/21/07		(24,600	)
	(200	)	Newfield Exploration Co., strike price $45, expires 05/21/07		(23,000	)
	(100	)	Newfield Exploration Co., strike price $50, expires 06/18/07		(3,500	)
	(60	)	Noble Corp., strike price $80, expires 06/18/07		(57,000	)
	(150	)	Noble Corp., strike price $85, expires 05/21/07		(34,500	)
	(70	)	Noble Corp., strike price $85, expires 06/18/07		(37,100	)
	(100	)	Noble Corp., strike price $90, expires 06/18/07		(20,000	)
	(300	)	Noble Energy, Inc., strike price $55, expires 05/21/07		(165,000	)
	(125	)	Noble Energy, Inc., strike price $60, expires 05/21/07		(16,875	)
	(22,500	)	Noble Energy, Inc., strike price $61, expires 06/15/07		(30,916	)
	(101,000	)	Norsk Hydro ASA, strike price 205 NOK, expires 06/12/07		(174,345	)
	(250	)	NovaGold Resources, Inc., strike price $18, expires 05/04/07		—
	(100	)	NovaGold Resources, Inc., strike price $20, expires 06/18/07		(500	)
	(150	)	ONEOK, Inc., strike price $47.50, expires 06/18/07		(30,000	)
	(100	)	ONEOK, Inc., strike price $47.50, expires 07/23/07		(24,500	)
	(250	)	Peabody Energy Corp., strike price $45, expires 06/18/07		(105,000	)
	(25,000	)	Peabody Energy Corp., strike price $46, expires 05/18/07		(67,250	)
	(250	)	Peabody Energy Corp., strike price $49, expires 05/30/07		(37,284	)

See Notes to Financial Statements.

BlackRock Global Energy and Resources Trust (BGR) (continued)

(Percentages shown are based on Net Assets)


Contracts			Description	Value

			OUTSTANDING CALL OPTIONS WRITTEN—(cont’d)
	(250	)	Peabody Energy Corp., strike price $50, expires 05/21/07	$	(20,000	)
	(480	)	Peabody Energy Corp., strike price $50, expires 06/18/07		(100,800	)
	(250	)	Peabody Energy Corp., strike price $55, expires 06/18/07		(12,500	)
	(20,000	)	Petroleo Brasileiro S.A. (ADR), strike price $105, expires 06/15/07		(49,471	)
	(100	)	Petroleo Brasileiro S.A. (ADR), strike price $110, expires 05/21/07		(6,500	)
	(100	)	Potash Corp. of Saskatchewan, Inc., strike price $180, expires 05/21/07		(60,000	)
	(200	)	Pride Intl., Inc., strike price $35, expires 05/21/07		(13,000	)
	(150	)	Pride Intl., Inc., strike price $35, expires 07/23/07		(21,000	)
	(100	)	Questar Corp., strike price $90, expires 07/23/07		(106,000	)
	(50	)	Questar Corp., strike price $95, expires 05/21/07		(25,000	)
	(150	)	Questar Corp., strike price $95, expires 07/23/07		(88,500	)
	(150	)	Quicksilver Resources, Inc., strike price $43.75, expires 06/29/07		(27,750	)
	(300	)	Quicksilver Resources, Inc., strike price $45, expires 06/18/07		(34,500	)
	(200	)	Range Resources Corp., strike price $35, expires 05/21/07		(41,000	)
	(20	)	Rio Tinto Plc, strike price 29.36 GBP, expires 06/15/07		(91,557	)
	(180	)	Saipem S.p.A., strike price 21 EUR, expires 05/18/07		(281,487	)
	(60,000	)	SBM Offshore N.V., strike price 27.40 EUR, expires 06/22/07		(42,837	)
	(150	)	Schlumberger Ltd., strike price $70, expires 05/21/07		(75,000	)
	(100	)	Schlumberger Ltd., strike price $75, expires 05/21/07		(12,500	)
	(65,000	)	SeaDrill Ltd., strike price 107.10 NOK, expires 06/12/07		(22,572	)
	(40,000	)	Seaspan Corp., strike price $26.75, expires 05/30/07		(63,002	)
	(400	)	Seaspan Corp., strike price $30, expires 05/21/07		(10,000	)
	(500	)	Ship Finance Intl. Ltd., strike price $25, expires 05/21/07		(245,000	)
	(25,000	)	Ship Finance Intl. Ltd., strike price $26.50, expires 05/18/07		(80,302	)
	(350	)	Silver Wheaton Corp., strike price $12.50, expires 06/18/07		(10,500	)
	(50,000	)	South Jersey Industries, Inc., strike price $40, expires 06/15/07		(40,609	)
	(100	)	Southwestern Energy Co., strike price $40, expires 06/18/07		(13,000	)


Contracts			Description	Value

			OUTSTANDING CALL OPTIONS WRITTEN—(cont’d)
	(150	)	Southwestern Energy Co., strike price $41, expires 06/29/07	$	(55,500	)
	(100	)	Southwestern Energy Co., strike price $45, expires 05/21/07		(6,000	)
	(250	)	Statoil ASA (ADR), strike price $28.50, expires 05/30/07		(22,960	)
	(250	)	Statoil ASA (ADR), strike price $29, expires 06/29/07		(15,000	)
	(250	)	Statoil ASA (ADR), strike price $30, expires 07/23/07		(12,500	)
	(25,000	)	Suncor Energy, Inc., strike price $81, expires 05/18/07		(43,011	)
	(450	)	Suncor Energy, Inc., strike price $85, expires 06/18/07		(81,000	)
	(250	)	Talisman Energy, Inc., strike price $18.50, expires 06/11/07		(29,931	)
	(400	)	Talisman Energy, Inc., strike price $20, expires 07/23/07		(36,000	)
	(100	)	Teck Cominco Ltd., Class B, strike price 47.50 CAD, expires 05/21/07		(901	)
	(100	)	Tenaris S.A. (ADR), strike price $50, expires 05/21/07		(3,500	)
	(100	)	Tenaris S.A. (ADR), strike price $50, expires 06/18/07		(10,000	)
	(100	)	Total S.A. (ADR), strike price $75, expires 05/19/07		(8,000	)
	(500	)	Transocean, Inc., strike price $85, expires 05/21/07		(170,000	)
	(25,000	)	Transocean, Inc., strike price $86, expires 06/15/07		(100,588	)
	(100	)	Transocean, Inc., strike price $90, expires 08/20/07		(52,000	)
	(100	)	Unit Corp., strike price $60, expires 06/18/07		(10,000	)
	(100	)	Valero Energy Corp., strike price $65, expires 05/21/07		(58,000	)
	(50	)	Vallourec, strike price 210 EUR, expires 05/18/07		(34,594	)
	(250	)	Weatherford Intl. Ltd., strike price $43, expires 05/11/07		(239,109	)
	(250	)	Weatherford Intl. Ltd., strike price $45, expires 05/21/07		(197,500	)
	(25,000	)	Weatherford Intl. Ltd., strike price $47, expires 05/30/07		(155,295	)
	(100	)	Weatherford Intl. Ltd., strike price $55, expires 06/18/07		(14,500	)
	(20,000	)	XTO Energy, Inc., strike price $57, expires 05/30/07		(10,067	)
	(100	)	XTO Energy, Inc., strike price $65, expires 11/19/07		(11,000	)
	(105,000	)	Zinifex Ltd., strike price 16.84 AUD, expires 06/26/07		(63,357	)

			Total Outstanding Call Options Written (premium received $(4,106,541))		(7,806,358	)

See Notes to Financial Statements.

BlackRock Global Energy and Resources Trust (BGR) (continued)

(Percentages shown are based on Net Assets)


Contracts			Description	Value

			OUTSTANDING PUT OPTIONS WRITTEN—0.0%
	(388	)	Apache Corp., strike price $70, expires 05/21/07	$	(17,460	)
	(330	)	BHP Billiton Ltd. (ADR), strike price $47.50, expires 05/21/07		(18,150	)
	(630	)	Consol Energy, Inc., strike price $40, expires 05/21/07		(25,200	)
	(200	)	Devon Energy Corp., strike price $65, expires 05/21/07		(2,000	)
	(300	)	Exploration Co. of Delaware, Inc. (The), strike price $10, expires 05/21/07		(9,000	)
	(125	)	Massey Energy Co., strike price $25, expires 05/21/07		(3,125	)
	(904	)	Nabors Industries Ltd., strike price $30, expires 05/21/07		(13,560	)
	(170	)	National Oilwell Varco, Inc., strike price $75, expires 05/21/07		(1,700	)
	(200	)	Newfield Exploration Co., strike price $40, expires 05/21/07		(4,000	)
	(200	)	Petroleo Brasileiro S.A. (ADR), strike price $90, expires 05/21/07		(6,000	)
	(50	)	Potash Corp. of Saskatchewan, strike price $175, expires 05/21/07		(18,500	)
	(300	)	Quicksilver Resources, Inc., strike price $37.50, expires 05/11/07		(616	)
	(100	)	Schlumberger Ltd., strike price $70, expires 05/21/07		(4,700	)
	(500	)	Silver Wheaton Corp., strike price $10, expires 05/21/07		(5,000	)
	(120	)	Weatherford Intl. Ltd., strike price $45, expires 05/21/07		(1,200	)

			Total Outstanding Put Options Written (premium received $(294,860))		(130,211	)

			Total Outstanding Options Written (premium received $(4,401,401))		(7,936,569	)

			Total Investments net of outstanding options written—99.0%	$	971,659,528
			Other assets in excess of liabilities—1.0%		10,072,077

			Net Assets—100.0%	$	981,731,605


¹	Security, or a portion thereof, pledged as collateral for outstanding options written.
²	Non-income producing security.
³	Represents current yield as of April 30, 2007.
⁴	Rate shown is the yield to maturity as of the date of purchase.
⁵	Cost for federal income tax purposes is $735,858,306. The net unrealized appreciation on a tax basis is $243,737,791, consisting of $257,019,148 gross unrealized appreciation and $13,281,357 gross unrealized depreciation.


KEY TO ABBREVIATIONS

ADR	—	American Depositary Receipt
AUD	—	Australian Dollar
CAD	—	Canadian Dollar
DKK	—	Danish Krone
EUR	—	Euro
GBP	—	British Pound
NOK	—	Norwegian Krone

See Notes to Financial Statements.

PORTFOLIO OF INVESTMENTS (unaudited)
APRIL 30, 2007

BlackRock Global Equity Income Trust (BFD)

(Percentages shown are based on Net Assets)


Shares			Description	Value

			LONG-TERM INVESTMENTS—91.8%
			Common Stocks—91.8%
			Australia—2.7%
	27,912		Australia & New Zealand Banking Group Ltd.	$	705,234
	384,146	¹	Brambles Ltd.		4,190,512
	46,003		Commonwealth Bank of Australia		2,006,011
	496,501		Insurance Australia Group Ltd.		2,454,322
	238,919		Lion Nathan Ltd.		1,809,795
	24,934		National Australia Bank Ltd.		885,715
	12,265		QBE Insurance Group Ltd.		311,031
	4,359		Rio Tinto Ltd.		297,692
	1,187,628		Telstra Corp. Ltd.		4,588,030
	112,617		Transurban Group		751,077
	53,479		Wesfarmers Ltd.		1,731,874
	22,853		Westfield Group		395,686
	27,955		Westpac Banking Corp.		624,124
	18,033		Woolworths Ltd.		422,357

			Total Australia		21,173,460

			Belgium—0.1%
	16,504		Fortis		741,669
	2,586		KBC Groep N.V.		342,138

			Total Belgium		1,083,807

			Bermuda—0.3%
	12,400		Accenture Ltd., Class A		484,840
	54,300	²	Tyco Intl. Ltd.		1,771,809

			Total Bermuda		2,256,649

			Canada—2.9%
	5,100		Alcan, Inc.		300,284
	93,400		ARC Energy Trust		1,836,191
	6,800		Bank of Montreal		425,559
	13,700		Bank of Nova Scotia		659,017
	4,300		Canadian Imperial Bank of Commerce		378,512
	46,600		Enerplus Resources Fund		2,025,393
	85,600		Fording Canadian Coal Trust		2,048,415
	78,800		Manulife Financial Corp.		2,847,705
	108,100		Penn West Energy Trust		3,232,579
	78,100		Precision Drilling Trust		1,870,347
	35,400		Provident Energy Trust		413,037
	35,400		Royal Bank of Canada		1,844,155
	7,800		Sun Life Financial, Inc.		369,655
	102,700		TransAlta Corp.		2,419,682
	197,400		Yellow Pages Income Fund		2,500,625

			Total Canada		23,171,156

			Denmark—0.5%
	7,400		Danske Bank A/S		345,567
	42,159		TrygVesta AS		3,572,304

			Total Denmark		3,917,871

			Finland—1.0%
	95,200		Nokia Oyj		2,401,514
	57,600		Uponor Oyj		2,377,380
	44,400		Wartsila Oyj, B Shares		2,968,566

			Total Finland		7,747,460


Shares			Description	Value

			France—3.2%
	2,717		Accor S.A.	$	255,920
	40,858		AXA S.A.		1,875,939
	10,958		BNP Paribas		1,271,243
	19,321		Carrefour S.A.		1,485,031
	38,599		Sanofi-Aventis		3,533,230
	2,983		Schneider Electric S.A.		420,726
	25,735		Societe Generale		5,453,857
	72,006		Suez S.A.		4,103,710
	29,100		Total S.A.		2,145,197
	13,612		Vinci S.A.		2,189,532
	60,509		Vivendi		2,495,952

			Total France		25,230,337

			Germany—3.9%
	55,959		Bayer AG		3,849,525
	54,323		DaimlerChrysler AG		4,397,478
	6,682		Deutsche Bank AG		1,024,957
	10,019		Deutsche Post AG		344,510
	214,069		Deutsche Telekom AG		3,898,091
	51,561		E.ON AG		7,712,521
	7,855		Metro AG		604,223
	16,200		MLP AG		401,417
	30,471		Siemens AG		3,676,482
	180,620		TUI AG		4,959,124

			Total Germany		30,868,328

			Greece—0.5%
	42,179		Motor Oil Hellas Corinth Refineries S.A.		1,203,354
	4,988	¹	National Bank of Greece S.A.		279,403
	61,517		OPAP S.A.		2,327,712

			Total Greece		3,810,469

			Hong Kong—1.1%
	110,000		ASM Pacific Technology		693,596
	1,056,500		BOC Hong Kong Holdings Ltd.		2,593,304
	23,000		Cheung Kong Holdings Ltd.		297,970
	276,600		Hang Seng Bank Ltd.		3,886,664
	203,000		HongKong Electric Holdings		1,015,646
	33,000		Hutchison Whampoa Ltd.		317,762

			Total Hong Kong		8,804,942

			Ireland—0.1%
	13,671		Allied Irish Banks Plc		414,032
	15,194		Bank of Ireland		326,099

			Total Ireland		740,131

			Italy—2.6%
	156,459		Arnoldo Mondadori Editore S.p.A.		1,722,323
	558,996		Enel S.p.A.		6,352,682
	34,610		Eni S.p.A.		1,147,797
	195,461		Mediaset S.p.A.		2,210,285
	2,402,740		Telecom Italia S.p.A.		6,519,895
	226,741		UniCredito Italiano S.p.A.		2,329,608

			Total Italy		20,282,590

			Japan—8.7%
	62,200		Acom Co. Ltd.		2,245,258
	99,000		Amada Co. Ltd.		1,105,470
	27,700		Astellas Pharma, Inc.		1,211,726
	13,000		Canon, Inc.		729,356

See Notes to Financial Statements.

BlackRock Global Equity Income Trust (BFD) (continued)

(Percentages shown are based on Net Assets)


Shares		Description	Value

		Japan—(cont’d)
	25	Central Japan Railway Co.	$	275,275
	7,900	Chubu Electric Power Co., Inc.		253,833
	41,700	Daiichi Sankyo Co. Ltd.		1,244,071
	426,000	Daiwa Securities Group, Inc.		4,744,782
	1,499	eAccess Ltd.		928,986
	257,000	Ebara Corp.		1,322,457
	26,300	Eisai Co. Ltd.		1,249,107
	7,900	FUJIFILM Holdings Corp.		325,420
	29	Japan Real Estate Investment Corp. (REIT)		388,734
	134	Japan Tobacco, Inc.		654,495
	56,500	JFE Holdings, Inc.		3,105,687
	97,100	Kansai Electric Power Co., Inc. (The)		2,717,483
	55,000	Kao Corp.		1,509,729
	251,000	Kobe Steel Ltd.		885,077
	35,900	Konami Corp.		952,532
	66,800	Marui Co. Ltd.		793,569
	9,100	Millea Holdings, Inc.		337,193
	215,500	Mitsubishi Chemical Holdings Corp.		1,734,110
	30,200	Mitsubishi Corp.		643,753
	26,000	Mitsubishi Estate Co. Ltd.		806,091
	242	Mitsubishi UFJ Financial Group, Inc.		2,517,307
	19,000	Mitsui & Co. Ltd.		341,651
	22,000	Mitsui Fudosan Co. Ltd.		642,171
	267	Mizuho Financial Group, Inc.		1,606,735
	156	Nippon Building Fund, Inc. (REIT)		2,521,620
	271,500	Nippon Mining Holdings, Inc.		2,180,423
	233,000	Nippon Steel Corp.		1,503,227
	272	Nippon Telegraph & Telephone Corp.		1,350,487
	272,600	Nissan Motor Co. Ltd.		2,741,925
	125,700	Nomura Holdings, Inc.		2,402,278
	854	NTT DoCoMo, Inc.		1,453,554
	150,000	Obayashi Corp.		945,364
	22,100	Oracle Corp.		1,001,030
	73,000	OSG Corp.		1,023,803
	128	Resona Holdings, Inc.		288,869
	10,200	Seven & I Holdings Co. Ltd.		294,125
	8,700	Shin-Etsu Chemical Co. Ltd.		561,525
	10,400	Softbank Corp.		223,570
	28,100	Sony Corp.		1,494,278
	408,000	Sumitomo Metal Industries Ltd.		2,071,588
	185	Sumitomo Mitsui Financial Group, Inc.		1,616,173
	9,000	Sumitomo Realty & Development Co. Ltd.		332,199
	87,400	Sumitomo Rubber Industries, Inc.		938,066
	6,050	T&D Holdings, Inc.		383,156
	87,720	Takefuji Corp.		2,948,191
	15,000	Tokyo Electric Power Co., Inc. (The)		498,536
	211,000	TonenGeneral Sekiyu KK		2,270,073
	22,100	Toyota Motor Corp.		1,342,332
	34,000	Trend Micro, Inc.		1,057,311

		Total Japan		68,715,761

		Netherlands—2.8%
	43,152	ABN AMRO Holding N.V.		2,093,686
	116,988	Aegon N.V.		2,414,537
	3,617	Akzo Nobel N.V.		290,282
	108,812	Arcelor Mittal		5,816,113
	27,116	ING Groep N.V.		1,235,101


Shares			Description	Value

			Netherlands—(cont’d)
	19,573		OCE N.V.	$	368,511
	239,915		Royal KPN N.V.		4,073,341
	181,285		Unilever N.V.		5,532,277

			Total Netherlands		21,823,848

			New Zealand—0.1%
	289,390		Sky City Entertainment Group Ltd.		1,033,692

			Norway—0.4%
	10,058		Norsk Hydro ASA		346,682
	28,750		Stolt-Nielsen S.A.		867,755
	95,600		Storebrand ASA		1,618,617

			Total Norway		2,833,054

			Portugal—0.1%
	77,310		Energias de Portugal S.A.		423,059

			Singapore—0.6%
	456,000		ComfortDelgro Corp. Ltd.		682,234
	26,000		DBS Group Holdings Ltd.		360,733
	358,000		Parkway Holdings Ltd.		924,907
	796,000		Singapore Press Holdings Ltd.		2,272,326
	241,000		Singapore Telecommunications Ltd.		523,314

			Total Singapore		4,763,514

			Spain—1.0%
	160,257		Banco Bilbao Vizcaya Argentaria S.A.		3,831,820
	29,221		Banco Popular Espanol S.A.		578,787
	77,012		Banco Santander Central Hispano S.A.		1,386,193
	111,898		Telefonica S.A.		2,513,388

			Total Spain		8,310,188

			Sweden—1.5%
	7,900		Hennes & Mauritz AB		522,249
	32,500		Nordea Bank AB		561,982
	108,000		OMX AB		2,578,099
	7,800		Skandinaviska Enskilda Banken AB		285,657
	184,400		Skanska AB, B Shares		4,266,174
	394,500		TeliaSonera AB		3,192,814
	17,500		Volvo AB, B Shares		343,467

			Total Sweden		11,750,442

			Switzerland—2.4%
	58,066		ABB Ltd.		1,160,317
	31,815		Ciba Specialty Chemicals AG		2,101,997
	55,528		Compagnie Financiere Richemont S.A.		3,346,346
	49,799	¹	Credit Suisse Group		3,908,364
	1,323		Nestle S.A.		523,734
	15,478		Novartis AG		899,206
	16,274		Roche Holding AG		3,064,510
	953		SGS S.A.		1,210,512
	25,439		Swiss Reinsurance		2,391,265
	1,861		Syngenta AG		369,689

			Total Switzerland		18,975,940

			United Kingdom—10.6%
	128,182		Anglo American Plc		6,750,118
	21,160		AstraZeneca Plc		1,150,811
	34,309		Aviva Plc		538,268
	43,532		BAE Systems Plc		394,615
	104,292		Barclays Plc		1,505,633
	33,033		BHP Billiton Plc		738,099

See Notes to Financial Statements.

BlackRock Global Equity Income Trust (BFD) (continued)

(Percentages shown are based on Net Assets)


Shares			Description	Value

			United Kingdom—(cont’d)
	798,453		BP Plc	$	8,957,535
	129,115		British American Tobacco Plc		3,996,177
	112,382		BT Group Plc		706,922
	68,644		Carnival Plc		3,457,082
	37,879		Diageo Plc		798,486
	532,342		Electrocomponents Plc		3,249,484
	367,450		Friends Provident Plc		1,383,473
	329,369		GlaxoSmithKline Plc		9,500,075
	51,260		HBOS Plc		1,100,020
	453,768	¹	HSBC Holdings Plc		8,372,495
	9,324		Imperial Tobacco Group Plc		406,407
	571,541		Lloyds TSB Group Plc		6,599,772
	17,934		National Express Group Plc		435,781
	36,607		National Grid Plc		574,777
	272,582		Provident Financial Plc		4,192,551
	32,682		Prudential Plc		485,629
	77,499		Rank Group Plc		309,559
	8,229		Reckitt Benckiser Plc		450,179
	14,206		Rio Tinto Plc		863,226
	43,077		Royal Bank of Scotland Group Plc		1,649,365
	132,440		Royal Dutch Shell Plc		4,638,989
	106,648		Tesco Plc		980,706
	59,026		Unilever Plc		1,846,735
	336,882		United Utilities Plc		5,021,486
	709,801		Vodafone Group Plc		2,019,353

			Total United Kingdom		83,073,808

			United States—44.7%
	40,200	²	3M Co.		3,327,354
	61,500		Abbott Laboratories		3,482,130
	12,100	¹	Adobe Systems, Inc.		502,876
	21,500		Aetna, Inc.		1,007,920
	31,300		Alcoa, Inc.		1,110,837
	7,300		Allstate Corp. (The)		454,936
	7,700		Alltel Corp.		482,713
	75,100		Altria Group, Inc.		5,175,892
	52,300	¹	Amazon.com, Inc.		3,207,559
	23,200		American Express Co.		1,407,544
	84,600		American Intl. Group, Inc.		5,914,386
	50,600	¹	Amgen, Inc.		3,245,484
	63,900		Anadarko Petroleum Corp.		2,981,574
	34,400		Analog Devices, Inc.		1,328,528
	41,000		Anheuser-Busch Cos., Inc.		2,016,790
	32,900		Apache Corp.		2,385,250
	31,300	¹	Apple, Inc.		3,123,740
	28,100		Applied Materials, Inc.		540,082
	93,200		AT&T, Inc.		3,608,704
	8,500		Baker Hughes, Inc.		683,315
	94,000		Bank of America Corp.		4,784,600
	44,700		Bank of New York Co., Inc. (The)		1,809,456
	36,200		BB&T Corp.		1,506,644
	5,900		Bear Stearns Cos., Inc. (The)		918,630
	8,600		Best Buy Co., Inc.		401,190
	34,500		Biogen Idec, Inc.		1,628,745
	11,100		Black & Decker Corp.		1,006,992
	33,200		Boeing Co.		3,087,600
	56,400		Bristol-Myers Squibb Co.		1,627,704


Shares			Description	Value

			United States—(cont’d)
	27,600		Campbell Soup Co.	$	1,079,160
	32,700		Carnival Corp.		1,598,703
	43,400		Caterpillar, Inc.		3,151,708
	39,600		CBS Corp., Class B		1,258,092
	9,500		Celgene Corp.		581,020
	16,200		Centex Corp.		725,274
	71,100		Chevron Corp.		5,530,869
	1,365		Chicago Mercantile Exchange Holdings, Inc.		705,364
	11,300		Ciena Corp.		329,508
	138,800		Cisco Systems, Inc.		3,711,512
	136,500		Citigroup, Inc.		7,319,130
	94,000		Coca-Cola Co. (The)		4,905,860
	100,100		Comcast Corp., Class A		2,668,666
	30,300		ConocoPhillips		2,101,305
	35,500		Consolidated Edison, Inc.		1,819,730
	23,200		Cooper Industries Ltd., Class A		1,154,432
	32,700		Corning, Inc.		775,644
	18,100		Countrywide Financial Corp.		671,148
	45,800		Crescent Real Estate Equities Co. (REIT)		939,358
	19,500		CSX Corp.		841,815
	44,400		CVS/Caremark Corp.		1,609,056
	40,400		D.R. Horton, Inc.		896,072
	41,800		Dell, Inc.		1,053,778
	39,500		Devon Energy Corp.		2,878,365
	6,400		Dominion Resources, Inc.		583,680
	66,700		Dow Chemical Co. (The)		2,975,487
	27,600		Dow Jones & Co., Inc.		1,002,708
	38,300		Duke Realty Corp. (REIT)		1,651,113
	99,600		E*Trade Financial Corp.		2,199,168
	56,900		E.I. du Pont de Nemours & Co.		2,797,773
	42,400		Eastman Kodak Co.		1,056,184
	14,200		Eaton Corp.		1,266,782
	22,000		eBay, Inc.		746,680
	51,400	²	Eli Lilly & Co.		3,039,282
	52,000		EMC Corp.		789,360
	38,500		Emerson Electric Co.		1,809,115
	14,700		Exelon Corp.		1,108,527
	23,200		Express Scripts, Inc.		2,216,760
	151,800		Exxon Mobil Corp.		12,049,884
	12,200		Fannie Mae		718,824
	23,300		Federated Deptartment Stores, Inc.		1,023,336
	3,500		FedEx Corp.		369,040
	69,700		Fidelity National Financial, Inc.		1,776,653
	18,100		First Horizon National Corp.		709,701
	8,300		Freddie Mac		537,674
	36,700		Freeport-McMoRan Copper & Gold, Inc.		2,464,772
	9,000	¹	Genentech, Inc.		719,910
	289,100		General Electric Co.		10,656,226
	54,900		General Motors Corp.		1,714,527
	7,900		Gilead Sciences, Inc.		645,588
	15,900		Goldman Sachs Group, Inc. (The)		3,475,899
	6,000		Google, Inc.		2,828,280
	20,200		Halliburton Co.		641,754
	11,600		Hartford Financial Services Group, Inc.		1,173,920
	33,500		Health Care Property Investors, Inc. (REIT)		1,185,565
	59,500		Hewlett-Packard Co.		2,507,330

See Notes to Financial Statements.

BlackRock Global Equity Income Trust (BFD) (continued)

(Percentages shown are based on Net Assets)


Shares			Description	Value

			United States—(cont’d)
	90,400		Home Depot, Inc.	$	3,423,448
	36,300		Honeywell Intl., Inc.		1,966,734
	55,200		Hospitality Properties Trust (REIT)		2,513,256
	25,000		Idearc, Inc.		868,750
	217,200		Intel Corp.		4,669,800
	47,800		Intl. Business Machines Corp.		4,885,638
	26,600		Intl. Paper Co.		1,003,352
	35,500		iStar Financial, Inc. (REIT)		1,701,160
	4,800		JC Penney Co., Inc.		379,632
	138,400	²	Johnson & Johnson		8,888,048
	99,700		JPMorgan Chase & Co.		5,194,370
	22,000	²	Kellogg Co.		1,164,020
	24,900	²	Kimberly-Clark Corp.		1,772,133
	6,400	¹	Kohl’s Corp.		473,856
	51,971		Kraft Foods, Inc.		1,739,469
	22,300	²	L-3 Communications Holdings, Inc.		2,005,439
	17,800	²	Lincoln National Corp.		1,266,470
	63,100	²	Linear Technology Corp.		2,361,202
	27,700		Lowe’s Cos., Inc.		846,512
	36,500	²	Ltd. Brands, Inc., Class A		1,006,305
	6,500		Marathon Oil Corp.		660,075
	68,300	²	Marsh & McLennan Cos., Inc.		2,169,208
	47,200	²	Masco Corp.		1,284,312
	35,000	²	Maxim Integrated Products, Inc.		1,110,200
	38,000	²	McDonald’s Corp.		1,834,640
	75,500	²	Medtronic, Inc.		3,996,215
	28,000	²	Mellon Financial Corp.		1,202,040
	83,800	²	Merck & Co., Inc.		4,310,672
	43,200	²	Microchip Technology, Inc.		1,742,688
	237,400	³	Microsoft Corp.		7,107,756
	10,300		Monsanto Co.		607,597
	16,300	²	Morgan Stanley		1,369,363
	87,400	²	Motorola, Inc.		1,514,642
	61,700	²	National City Corp.		2,255,135
	129,800	³	New York Community Bancorp, Inc.		2,266,308
	21,900	²	Newell Rubbermaid, Inc.		671,673
	11,100	²	Newmont Mining Corp.		462,870
	32,100	²	News Corp., Class A		718,719
	3,700		Omnicom Group, Inc.		387,427
	104,400	²	Oracle Corp.		1,962,720
	300,900	³	Pfizer, Inc.		7,961,814
	22,400	²	Pitney Bowes, Inc.		1,075,200
	30,900	²	Plum Creek Timber Co., Inc. (REIT)		1,226,730
	100,000	²	Procter & Gamble Co.		6,431,000
	52,200	²	Qualcomm, Inc.		2,286,360
	8,900		Reynolds American, Inc.		571,914
	3,900		Rockwell Collins, Inc.		256,113
	14,700	²	Rohm & Haas Co.		752,199
	8,600		RR Donnelley & Sons Co.		345,720
	79,000	²	Sara Lee Corp.		1,296,390
	46,900	²	Schering-Plough Corp.		1,488,137
	24,100	²	Schlumberger Ltd.		1,779,303
	3,400		Sears Holdings Corp.		649,094
	100,800	²	Sprint Nextel Corp.		2,019,024
	15,200	²	Staples, Inc.		376,960
	15,900	²	Starbucks Corp.		493,218
	11,700	²	Starwood Hotels & Resorts Worldwide, Inc.		784,134


Shares			Description	Value

			United States—(cont’d)
	142,700	²	Sun Microsystems, Inc.	$	744,894
	30,100	²	SUPERVALU, Inc.		1,381,590
	97,100	^1,2	Symantec Corp.		1,708,960
	44,500	²	SYSCO Corp.		1,456,930
	15,400	²	Target Corp.		914,298
	15,400	²	Temple-Inland, Inc.		912,296
	28,900	²	Texas Instruments, Inc.		993,293
	45,800	²	Time Warner, Inc.		944,854
	25,500		Transocean, Inc.		2,198,100
	17,100	^1,2	TravelCenters of America LLC		756,846
	8,300	²	Travelers Cos., Inc. (The)		449,030
	103,800	²	U.S. Bancorp		3,565,530
	51,800	²	United Parcel Service, Inc., Class B		3,648,274
	42,300	²	UnitedHealth Group, Inc.		2,244,438
	18,600	²	UST, Inc.		1,054,248
	9,600	²	Valero Energy Corp.		674,208
	142,600	²	Verizon Communications, Inc.		5,444,468
	67,300	²	Wachovia Corp.		3,737,842
	69,300	²	Wal-Mart Stores, Inc.		3,320,856
	19,000	²	Walgreen Co.		834,100
	46,400		Walt Disney Co. (The)		1,623,072
	85,800	²	Washington Mutual, Inc.		3,601,884
	35,000	²	Waste Management, Inc.		1,309,350
	73,600	²	Wells Fargo & Co.		2,641,504
	29,400	²	Weyerhauser Co.		2,329,068
	46,200	²	Wyeth		2,564,100
	71,600	²	Xcel Energy, Inc.		1,724,844
	27,200	²	Yahoo!, Inc.		762,688
	34,100	²	Zimmer Holdings, Inc.		3,085,368

			Total United States		351,690,343

			Total Common Stocks (cost $697,294,252)		722,480,849

			Rights—0.0%
			Sweden—0.0%
	3,500	¹	Volvo AB, B Shares		13,059

			Total Long-Term Investments (cost $697,294,252)		722,493,908

			SHORT-TERM INVESTMENTS—4.2%
			Money Market Fund—2.0%
	15,867,658	⁴	Fidelity Institutional Money Market Prime Portfolio, 4.97%		15,867,658



	Principal Amount

			U.S. Government and Agency Discount Notes—2.2%
$	17,000,000	⁵	Federal Home Loan Bank Disc. Notes, 5.06%, 5/01/07		17,000,000

			Total Short-Term Investments (cost $32,867,658)		32,867,658



	Contracts

			OUTSTANDING CALL OPTIONS PURCHASED—0.0%
	60		FTSE 100 Index, strike price 6 GBP, expires 05/21/07		16,797

See Notes to Financial Statements.

BlackRock Global Equity Income Trust (BFD) (continued)

(Percentages shown are based on Net Assets)


Contracts			Description	Value

			OUTSTANDING CALL OPTIONS PURCHASED—(cont’d)
	100		Nikkei, strike price 18 JPY, expires 05/11/07	$	8,713

			Total Outstanding Call Options Purchased (cost $62,278)		25,510

			Total Investments before outstanding options written (cost $730,224,188⁶)		755,387,076

			OUTSTANDING CALL OPTIONS WRITTEN—(1.1)%
	(1,090	)	DJ Euro Stoxx, strike price 4 EUR, expires 05/18/07		(1,972,421	)
	(410	)	FTSE 100 Index, strike price 6 GBP, expires 05/18/07		(786,074	)
	(250	)	Nikkei, strike price 17 JPY, expires 05/11/07		(363,025	)
	(1,325	)	S&P 500, strike price $1, expires 05/21/07		(5,807,000	)

			Total Outstanding Call Options Written (premium received $(4,245,248))		(8,928,520	)

			Total Investments net of outstanding options—94.9%	$	746,458,556
			Other assets in excess of liabilities—5.1%		40,367,974

			Net Assets—100.0%	$	786,826,530



¹	Non-income producing security.
²	Security, or a portion thereof, pledged as collateral for outstanding options written.
³	Security, or a portion thereof, pledged as collateral with a value of $17,286,120 on 225 long Dow Jones Euro Stoxx futures contracts, 80 long FTSE 100 Index futures contracts, 100 long Nikkei JPY futures contracts and 104 long S&P 500 futures contracts all expiring June 2007. The notional value of such contracts on April 30, 2007 was $69,615,092, with an unrealized gain of $632,484.
⁴	Represents current yield as of April 30, 2007.
⁵	Rate shown is the yield to maturity as of the date of purchase.
⁶	Cost for federal income tax purposes is $730,224,187. The net unrealized appreciation on a tax basis is $25,162,889, consisting of $31,872,895 gross unrealized appreciation and $6,710,006 gross unrealized depreciation.


KEY TO ABBREVIATIONS

EUR	—	Euro
GBP	—	British Pound
JPY	—	Japanese Yen
REIT	—	Real Estate Investment Trust

See Notes to Financial Statements.


PORTFOLIO OF INVESTMENTS (unaudited) APRIL 30, 2007

BlackRock Global Opportunities Equity Trust (BOE)

(Percentages shown are based on Net Assets)


Shares			Description	Value

			LONG-TERM INVESTMENTS—98.7%
			Common Stocks—98.1%
			Australia—3.5%
	382,000		Lion Nathan Ltd.	$	2,893,623
	104,200		Publishing & Broadcasting Ltd.		1,764,018
	77,600		QBE Insurance Group Ltd.		1,967,877
	1,569,900		SP AusNet		1,917,446
	133,232		St. George Bank Ltd.		3,963,375

			Total Australia		12,506,339

			Bermuda—0.5%
	44,800		Accenture Ltd., Class A		1,751,680

			Brazil—1.6%
	36,300		Cia Energetica de Minas Gerais (ADR)		1,882,881
	108,750		Gerdau S.A. (ADR)		2,178,262
	17,500		Petroleo Brasileiro S.A. (ADR)		1,771,525

			Total Brazil		5,832,668

			Canada—3.8%
	69,200		Barrick Gold Corp.		1,945,212
	28,900		Canadian Imperial Bank of Commerce		2,543,950
	17,000		Potash Corp. of Saskatchewan		3,051,840
	35,400		Teck Cominco Ltd., Class B		2,682,031
	66,400		TELUS Corp.		3,681,643

			Total Canada		13,904,676

			Channel Islands—0.4%
	26,600		Eurocastle Investment Ltd.		1,404,795

			China—1.2%
	2,075,200	¹	Industrial & Commercial Bank of China		1,127,643
	28,200		PetroChina Co. Ltd. (ADR)		3,162,348

			Total China		4,289,991

			Denmark—1.0%
	78,600		Danske Bank A/S		3,670,477

			Finland—1.7%
	86,900		Fortum Oyj		2,690,523
	50,300		Wartsila Oyj, B Shares		3,363,037

			Total Finland		6,053,560

			France—3.2%
	18,400	¹	Alstom S.A.		2,735,849
	66,300		AXA S.A.		3,044,073
	24,400		Schneider Electric S.A.		3,441,403
	10,627		Societe Generale		2,252,114

			Total France		11,473,439

			Germany—7.4%
	24,400		Bilfinger Berger AG		2,291,496
	23,800		Deutsche Bank AG		3,650,701
	19,200		E.ON AG		2,871,946
	87,900		Hannover Rueckversicherung AG		4,450,485
	73,600		IVG Immobilien AG		3,299,423
	25,300		K&S AG		3,290,198
	22,500	¹	Linde AG		2,517,113
	19,100		RWE AG		2,013,195
	20,900		Siemens AG		2,521,692

			Total Germany		26,906,249

			Greece—0.7%
	68,100		Piraeus Bank S.A.		2,467,804


Shares			Description	Value

			Hong Kong—3.6%
	511,500		ASM Pacific Technology	$	3,225,222
	147,500		Esprit Holdings Ltd.		1,787,667
	963,000		Hang Lung Properties Ltd.		2,852,727
	161,400		Hong Kong Exchanges & Clearing Ltd.		1,537,598
	1,466,400		New World Development Ltd.		3,443,017

			Total Hong Kong		12,846,231

			Israel—0.8%
	175,600	²	Partner Communications (ADR)		2,862,280

			Italy—3.9%
	805,300		AEM S.p.A.		3,148,217
	143,600		Credito Emiliano S.p.A.		2,388,441
	164,900		Enel S.p.A.		1,873,998
	109,200		Eni S.p.A.		3,621,480
	305,700		UniCredito Italiano S.p.A.		3,140,858

			Total Italy		14,172,994

			Japan—2.6%
	39,000		Daito Trust Construction Co. Ltd.		1,791,517
	409		Mizuho Financial Group, Inc.		2,461,253
	8,100		Nintendo Co. Ltd.		2,530,220
	150		Nippon Commercial Investment Corp. (REIT)		761,029
	203		Sumitomo Mitsui Financial Group, Inc.		1,773,423

			Total Japan		9,317,442

			Luxembourg—0.7%
	48,576		Oriflame Cosmetics S.A.		2,550,016

			Mexico—1.1%
	37,800	²	America Movil SAB de CV (ADR)		1,985,634
	406,000		Kimberly-Clark de Mexico SAB de CV		1,816,488

			Total Mexico		3,802,122

			Netherlands—5.0%
	26,300		Akzo Nobel N.V.		2,110,704
	68,900	¹	ASML Holding N.V.		1,877,525
	28,300		InBev N.V.		2,216,761
	82,150		ING Groep N.V.		3,741,834
	21,700		Rodamco Europe N.V.		3,195,728
	74,900		SBM Offshore N.V.		2,683,739
	76,700		Unilever N.V.		2,340,655

			Total Netherlands		18,166,946

			Norway—2.0%
	269,500		Orkla ASA		4,296,208
	178,600		Storebrand ASA		3,023,900

			Total Norway		7,320,108

			Philippines—0.7%
	49,400		Philippine Long Distance Telephone Co. (ADR)		2,638,454

			Singapore—1.6%
	868,520		Singapore Telecommunications Ltd.		1,885,929
	265,900		United Overseas Bank Ltd.		3,717,133

			Total Singapore		5,603,062

			South Africa—0.5%
	317,700		Truworths Intl. Ltd.		1,756,030

			Spain—0.5%
	63,600		Gestevision Telecinco S.A.		1,919,505

See Notes to Financial Statements.

BlackRock Global Opportunities Equity Trust (BOE) (continued)

(Percentages shown are based on Net Assets)


Shares			Description	Value

			Sweden—3.1%
	71,700		Atlas Copco AB	$	2,721,832
	233,200		Nordea Bank AB		4,018,829
	97,600		Skanska AB, B Shares		2,258,018
	43,100	¹	Svenska Cellulosa AB		2,216,669

			Total Sweden		11,215,348

			Switzerland—2.5%
	13,500	¹	Alcon, Inc.		1,821,555
	6,700		Nestle S.A.		2,652,318
	13,000		Syngenta AG		2,582,461
	32,600		UBS AG		2,118,639

			Total Switzerland		9,174,973

			Taiwan—0.7%
	250,700	²	Taiwan Semiconductor Manufacturing Co. Ltd. (ADR)		2,642,378

			United Kingdom—11.0%
	183,100		Arriva Plc		2,752,441
	256,200		BAE Systems Plc		2,322,437
	589,233		Brit Insurance Holdings Plc		4,138,017
	588,200		Cobham Plc		2,437,324
	284,000		De La Rue Plc		4,017,388
	200,000		Diageo Plc		4,215,983
	202,500		Kelda Group Plc		3,746,783
	745,200		Legal & General Group Plc		2,285,324
	99,728		Scottish & Southern Energy Plc		2,981,300
	156,400		Smiths Group Plc		3,372,449
	205,313		United Utilities Plc		3,060,349
	65,600	²	Vodafone Group Plc (ADR)		1,884,688
	63,500		Whitbread Plc		2,384,469

			Total United Kingdom		39,598,952

			United States—32.8%
	27,200		A.G. Edwards, Inc.		1,970,640
	32,000		Abbott Laboratories		1,811,840
	23,400	¹	Akamai Technologies, Inc.		1,031,472
	193,000	²	Alaska Communications Systems Group, Inc.		3,068,700
	23,900		AllianceBernstein Holding LP		2,173,944
	39,300	²	Alltel Corp.		2,463,717
	37,100		Altria Group, Inc.		2,556,932
	18,900	¹	Apple, Inc.		1,886,220
	56,100		Archer Daniels Midland Co.		2,171,070
	69,900	²	AT&T, Inc.		2,706,528
	46,100	²	Bank of America Corp.		2,346,490
	64,900	¹	Broadcom Corp.		2,112,495
	58,300		Chevron Corp.		4,535,157
	64,500		Cisco Systems, Inc.		1,724,730
	64,100		Citigroup, Inc.		3,437,042
	40,300		Colgate-Palmolive Co.		2,729,922
	64,600	²	ConocoPhillips		4,480,010
	27,500		Constellation Energy Group, Inc.		2,450,800
	77,300		CVS/Caremark Corp.		2,801,352
	22,800		Dominion Resources, Inc.		2,079,360
	12,100		Douglas Emmett, Inc. (REIT)		315,205
	85,700		Eagle Bulk Shipping, Inc.		1,929,964
	61,700	²	Exxon Mobil Corp.		4,897,746
	37,900		General Mills, Inc.		2,270,210
	3,700	²	Google, Inc.		1,744,106
	146,600		Highland Hospitality Corp. (REIT)		2,792,730
	44,3000	²	HJ Heinz Co.		2,086,973
	19,500		Intl. Business Machines Corp.		1,993,095
	37,200	²	Johnson & Johnson		2,388,984


Shares			Description	Value

			United States—(cont’d)
	51,100		Kellogg Co.	$	2,703,701
	46,300		Loews Corp. - Carolina Group		3,543,339
	67,600	²	McDonald’s Corp.		3,263,728
	59,900		Merck & Co., Inc.		3,081,256
	36,200	¹	MGM Mirage		2,434,450
	84,500	²	Microsoft Corp.		2,529,930
	70,000		Motorola, Inc.		1,213,100
	42,000		Nike, Inc.		2,262,120
	72,800		Pepco Holdings, Inc.		2,149,056
	42,000		PepsiCo, Inc.		2,775,780
	42,600		Procter & Gamble Co.		2,739,606
	22,600	²	Public Service Enterprise Group, Inc.		1,953,770
	39,700		Starwood Hotels & Resorts Worldwide, Inc.		2,660,694
	30,000		Stryker Corp.		1,948,200
	24,500		Sunoco, Inc.		1,850,485
	22,800		Textron, Inc.		2,318,076
	30,100	¹	Waters Corp.		1,788,843
	115,200	²	Windstream Corp.		1,684,224
	42,000		Yum! Brands, Inc.		2,598,120
	21,500	²	Zimmer Holdings, Inc.		1,945,320

			Total United States		118,401,232

			Total Common Stocks (cost $310,898,083)		354,249,751

			Preferred Stock—0.6%
			Germany—0.6%
	14,700		Henkel KGaA, 1.30%		2,318,973

			Total Long-Term Investments (cost $312,911,380)		356,568,724

			MONEY MARKET FUND—1.6%
	5,897,556	³	Fidelity Institutional Money Market Prime Portfolio, 4.97% (cost $5,897,556)		5,897,556

			Total Investments before outstanding options written (cost $318,808,936⁴)		362,466,280



Contracts

			OUTSTANDING OPTIONS WRITTEN—(2.1)%
			OUTSTANDING CALL OPTIONS WRITTEN—(2.1)%
	(11,000	)	A.G. Edwards, Inc., strike price $67, expires 05/18/07	(63,637	)
	(50	)	A.G. Edwards, Inc., strike price $75, expires 08/20/07	(14,500	)
	(25	)	Abbott Laboratories, strike price $55, expires 05/21/07	(5,375	)
	(150	)	Abbott Laboratories, strike price $56, expires 06/08/07	(27,859	)
	(250	)	Accenture Ltd., Class A, strike price $37.50, expires 05/25/07	(49,535	)
	(180	)	AEM S.p.A., strike price 2.60 EUR, expires 05/18/07	(181,034	)
	(85	)	Akamai Technologies, Inc., strike price $55, expires 05/21/07	(425	)
	(65	)	Akamai Technologies, Inc., strike price $60, expires 05/21/07	(325	)
	(38	)	Akzo Nobel N.V., strike price 58 EUR, expires 05/18/07	(8,816	)
	(100	)	Akzo Nobel N.V., strike price 58 EUR, expires 07/20/07	(42,986	)

See Notes to Financial Statements.

BlackRock Global Opportunities Equity Trust (BOE) (continued)

(Percentages shown are based on Net Assets)


Contracts			Description	Value

			OUTSTANDING CALL OPTIONS WRITTEN—(cont’d)
	(82,800	)	Alaska Communications Systems Group, Inc., strike price $15.98, expires 05/18/07	$	(29,401	)
	(33,000	)	Alaska Communications Systems Group, Inc., strike price $16, expires 06/18/07		(22,249	)
	(38,600	)	Alaska Communications Systems Group, Inc., strike price $16.98, expires 07/20/07		(19,686	)
	(16	)	Alcon, Inc., strike price $130, expires 05/21/07		(9,120	)
	(53	)	Alcon, Inc., strike price $135, expires 05/21/07		(11,395	)
	(130	)	AllianceBernstein Holding LP, strike price $95, expires 07/23/07		(25,350	)
	(70	)	Alltel Corp., strike price $65, expires 05/21/07		(7,350	)
	(160	)	Alltel Corp., strike price $65, expires 07/23/07		(35,200	)
	(35	)	Alstom S.A., strike price 90 EUR, expires 05/18/07		(96,528	)
	(7,400	)	Alstom S.A., strike price 96.31 EUR, expires 05/08/07		(139,253	)
	(9,300	)	Altria Group, Inc., strike price $70.45, expires 06/29/07		(10,709	)
	(130	)	Altria Group, Inc., strike price $70.50, expires 07/10/07		(19,836	)
	(125	)	America Movil SAB de CV (ADR), strike price $46.50, expires 05/24/07		(77,962	)
	(100	)	America Movil SAB de CV (ADR), strike price $50, expires 05/21/07		(28,500	)
	(17	)	Apple, Inc., strike price $100, expires 05/21/07		(3,400	)
	(30	)	Apple, Inc., strike price $100, expires 07/23/07		(18,900	)
	(5,700	)	Apple, Inc., strike price $92, expires 05/10/07		(45,927	)
	(18,600	)	Archer Daniels Midland Co., strike price $40, expires 05/15/07		(13,389	)
	(115	)	Archer Daniels Midland Co., strike price $40, expires 06/18/07		(14,375	)
	(146,500	)	Arriva Plc, strike price 7.74 GBP, expires 05/31/07		(31,449	)
	(78,000	)	ASM Pacific Technology, strike price 47.09 HKD, expires 05/29/07		(35,915	)
	(204,000	)	ASM Pacific Technology, strike price 52.15 HKD, expires 06/26/07		(52,083	)
	(125	)	ASML Holding N.V., strike price $26, expires 05/15/07		(19,378	)
	(255	)	ASML Holding N.V., strike price $30, expires 07/23/07		(15,300	)
	(142	)	AT&T, Inc., strike price $38.50, expires 05/07/07		(6,501	)
	(105	)	AT&T, Inc., strike price $39, expires 06/08/07		(9,088	)
	(3,500	)	AT&T, Inc., strike price $40, expires 06/15/07		(1,783	)
	(137	)	AT&T, Inc., strike price $40, expires 07/23/07		(12,330	)
	(11,000	)	Atlas Copco AB, strike price 222.06 SEK, expires 05/08/07		(59,102	)
	(29,000	)	Atlas Copco AB, strike price 252.96 SEK, expires 06/12/07		(56,549	)
	(130	)	AXA S.A., strike price 32 EUR, expires 05/18/07		(37,787	)
	(16,000	)	AXA S.A., strike price 32.32 EUR, expires 05/31/07		(43,821	)
	(10,000	)	AXA S.A., strike price 34 EUR, expires 06/22/07		(16,703	)


Contracts			Description	Value

			OUTSTANDING CALL OPTIONS WRITTEN—(cont’d)
	(103,000	)	BAE Systems Plc, strike price 4.65 GBP, expires 06/12/07	$	(28,312	)
	(50	)	BAE Systems Plc, strike price 460 GBP, expires 06/15/07		(17,247	)
	(90	)	Bank of America Corp., strike price $52.50, expires 05/21/07		(1,350	)
	(16,300	)	Bank of America Corp., strike price $53, expires 06/22/07		(4,250	)
	(175	)	Barrick Gold Corp., strike price $30, expires 05/21/07		(3,500	)
	(17,000	)	Barrick Gold Corp., strike price $31, expires 06/15/07		(3,526	)
	(5,000	)	Bilfinger Berger AG, strike price 65.50 EUR, expires 05/08/07		(30,450	)
	(9,000	)	Bilfinger Berger AG, strike price 71.88 EUR, expires 06/12/07		(32,611	)
	(60,000	)	Brit Insurance Holdings Plc, strike price 3.17 GBP, expires 05/08/07		(44,856	)
	(290,000	)	Brit Insurance Holdings Plc, strike price 3.24 GBP, expires 05/31/07		(190,505	)
	(100	)	Broadcom Corp., strike price $35, expires 05/21/07		(2,000	)
	(125	)	Broadcom Corp., strike price $35.50, expires 05/25/07		(1,636	)
	(100	)	Broadcom Corp., strike price $37.50, expires 05/21/07		(800	)
	(8,000	)	Canadian Imperial Bank of Commerce, strike price 102.21 CAD, expires 06/15/07		(4,335	)
	(7,000	)	Canadian Imperial Bank of Commerce, strike price 104 CAD, expires 05/18/07		(115	)
	(100	)	Chevron Corp., strike price $70, expires 05/21/07		(81,000	)
	(200	)	Chevron Corp., strike price $71.50, expires 05/30/07		(129,855	)
	(20	)	Chevron Corp., strike price $75, expires 06/18/07		(7,800	)
	(5,400	)	Cia Energetica de Minas Gerais (ADR), strike price $45.12, expires 05/18/07		(37,315	)
	(12,700	)	Cia Energetica de Minas Gerais (ADR), strike price $46.44, expires 06/15/07		(79,200	)
	(120	)	Cisco Systems, Inc., strike price $27, expires 05/10/07		(4,106	)
	(70	)	Cisco Systems, Inc., strike price $27.25, expires 05/30/07		(4,142	)
	(175	)	Cisco Systems, Inc., strike price $27.50, expires 07/23/07		(21,875	)
	(140	)	Citigroup, Inc., strike price $55, expires 06/18/07		(7,700	)
	(10,300	)	Citigroup, Inc., strike price $55, expires 06/29/07		(9,785	)
	(140	)	Citigroup, Inc., strike price $55, expires 07/06/07		(9,923	)
	(117,000	)	Cobham Plc, strike price 2.06 GBP, expires 05/08/07		(10,713	)
	(235,000	)	Cobham Plc, strike price 2.14 GBP, expires 06/12/07		(22,486	)
	(175	)	ConocoPhillips, strike price $70, expires 05/21/07		(19,250	)

See Notes to Financial Statements.

BlackRock Global Opportunities Equity Trust (BOE) (continued)

(Percentages shown are based on Net Assets)


Contracts			Description	Value

			OUTSTANDING CALL OPTIONS WRITTEN—(cont’d)
	(18,000	)	ConocoPhillips, strike price $72, expires 06/15/07	$	(20,786	)
	(110	)	Constellation Energy Group, Inc., strike price $82, expires 05/07/07		(78,662	)
	(40	)	Constellation Energy Group, Inc., strike price $95, expires 07/23/07		(5,400	)
	(27,000	)	Credito Emiliano S.p.A., strike price 11.61 EUR, expires 05/08/07		(25,978	)
	(59,000	)	Credito Emiliano S.p.A., strike price 12.14 EUR, expires 05/31/07		(31,944	)
	(26,000	)	CVS/Caremark Corp., strike price $35.96, expires 06/15/07		(39,331	)
	(100	)	CVS/Caremark Corp., strike price $37.50, expires 06/18/07		(9,500	)
	(16,000	)	Daito Trust Construction Co. Ltd., strike price 5 JPY, expires 05/09/07		(37,377	)
	(43,000	)	Danske Bank A/S, strike price 258.56 DKK, expires 05/31/07		(37,357	)
	(58,000	)	De La Rue Plc, strike price 7.38 GBP, expires 05/08/07		(2,995	)
	(112,000	)	De La Rue Plc, strike price 7.46 GBP, expires 05/31/07		(20,714	)
	(25	)	Deutsche Bank AG, strike price 105 EUR, expires 05/18/07		(30,056	)
	(6,000	)	Deutsche Bank AG, strike price 105.01 EUR, expires 06/12/07		(76,223	)
	(5,100	)	Deutsche Bank AG, strike price 113.78 EUR, expires 06/28/07		(28,542	)
	(122,000	)	Diageo Plc, strike price 10.18 GBP, expires 05/31/07		(121,039	)
	(3,000	)	Dominion Resources, Inc., strike price $86, expires 05/18/07		(16,613	)
	(55	)	Dominion Resources, Inc., strike price $90, expires 05/21/07		(12,925	)
	(23	)	E.ON AG, strike price 105 EUR, expires 05/18/07		(16,980	)
	(75	)	E.ON AG, strike price 110 EUR, expires 07/20/07		(37,767	)
	(21,500	)	Eagle Bulk Shipping, Inc., strike price $21, expires 05/18/07		(33,358	)
	(170	)	Eagle Bulk Shipping, Inc., strike price $22.50, expires 06/18/07		(14,450	)
	(100	)	Enel S.p.A., strike price 5.30 EUR, expires 06/15/07		(6,298	)
	(80	)	Enel S.p.A., strike price 8.20 EUR, expires 05/18/07		(11,529	)
	(65,000	)	Eni S.p.A., strike price 24.35 EUR, expires 05/31/07		(41,450	)
	(57,000	)	Esprit Holdings Ltd., strike price 101.82 HKD, expires 06/26/07		(18,305	)
	(23,600	)	Esprit Holdings Ltd., strike price 89.99 HKD, expires 05/29/07		(20,831	)
	(16,000	)	Eurocastle Investment Ltd., strike price 40 EUR, expires 05/31/07		(10,117	)
	(130	)	Exxon Mobil Corp., strike price $75, expires 05/21/07		(93,600	)
	(240	)	Exxon Mobil Corp., strike price $80, expires 07/23/07		(63,600	)


Contracts			Description	Value

			OUTSTANDING CALL OPTIONS WRITTEN—(cont’d)
	(48,000	)	Fortum Oyj, strike price 23.37 EUR, expires 05/31/07	$	(24,763	)
	(310	)	Gerdau S.A. (ADR), strike price $20, expires 06/18/07		(35,650	)
	(140	)	Gerdau S.A. (ADR), strike price $22.50, expires 06/18/07		(4,900	)
	(150	)	Gerdau S.A. (ADR), strike price $22.50, expires 09/24/07		(13,500	)
	(32,000	)	Gestevision Telecinco S.A., strike price 21.81 EUR, expires 05/31/07		(31,475	)
	(14	)	Google, Inc., strike price $500, expires 05/21/07		(2,030	)
	(14	)	Google, Inc., strike price $500, expires 06/18/07		(7,840	)
	(145,000	)	Hang Lung Properties Ltd., strike price 22.23 HKD, expires 05/29/07		(30,868	)
	(385,000	)	Hang Lung Properties Ltd., strike price 24.62 HKD, expires 06/26/07		(45,746	)
	(52,000	)	Hannover Rueckversicherung AG, strike price 33.75 EUR, expires 05/31/07		(278,715	)
	(71	)	Henkel KGaA, 1.30%, strike price 105 EUR, expires 05/18/07		(105,901	)
	(15,700	)	Highland Hospitality Corp. (REIT), strike price $17.39, expires 05/18/07		(26,393	)
	(49,600	)	Highland Hospitality Corp. (REIT), strike price $18.47, expires 06/15/07		(48,850	)
	(65	)	HJ Heinz Co., strike price $45, expires 06/18/07		(18,850	)
	(97	)	HJ Heinz Co., strike price $46.25, expires 05/07/07		(9,890	)
	(85	)	HJ Heinz Co., strike price $48, expires 07/06/07		(8,925	)
	(82,000	)	Hong Kong Exchanges & Clearing Ltd., strike price 84 HKD, expires 06/26/07		(15,864	)
	(170	)	InBev N.V., strike price 55 EUR, expires 05/18/07		(66,813	)
	(700,000	)	Industrial & Commercial Bank of China, strike price 4.45 HKD, expires 06/26/07		(9,623	)
	(450,000	)	Industrial & Commercial Bank of China, strike price 4.56 HKD, expires 05/29/07		(1,837	)
	(45,000	)	ING Groep N.V., strike price 33.04 EUR, expires 06/12/07		(79,265	)
	(25	)	Intl. Business Machines Corp., strike price $100, expires 07/23/07		(12,250	)
	(90	)	Intl. Business Machines Corp., strike price $97, expires 05/25/07		(50,863	)
	(48,000	)	IVG Immobilien AG, strike price 36.53 EUR, expires 06/12/07		(19,563	)
	(115	)	Johnson & Johnson, strike price $65, expires 05/21/07		(5,175	)
	(90	)	Johnson & Johnson, strike price $65, expires 07/23/07		(12,150	)
	(5,000	)	K&S AG, strike price 82.35 EUR, expires 05/08/07		(95,112	)
	(10,000	)	K&S AG, strike price 91.42 EUR, expires 06/12/07		(110,344	)
	(122,000	)	Kelda Group Plc, strike price 9.52 GBP, expires 06/12/07		(28,373	)

See Notes to Financial Statements.

BlackRock Global Opportunities Equity Trust (BOE) (continued)

(Percentages shown are based on Net Assets)


Contracts			Description	Value

			OUTSTANDING CALL OPTIONS WRITTEN—(cont’d)
	(246,000	)	Kimberly-Clark de Mexico SAB de CV, strike price 51 MXN, expires 05/25/07	$	(13,273	)
	(111,000	)	Legal & General Group Plc, strike price 1.51 GBP, expires 05/08/07		(9,999	)
	(336,000	)	Legal & General Group Plc, strike price 1.60 GBP, expires 05/31/07		(17,039	)
	(90	)	Linde AG, strike price 84 EUR, expires 07/20/07		(28,494	)
	(40,000	)	Lion Nathan Ltd., strike price 9.38 AUD, expires 05/29/07		(5,402	)
	(189,000	)	Lion Nathan Ltd., strike price 9.61 AUD, expires 06/26/07		(29,338	)
	(50	)	Loews Corp.-Carolina Group, strike price $75, expires 06/18/07		(15,500	)
	(80	)	Loews Corp.-Carolina Group, strike price $78.50, expires 07/13/07		(20,540	)
	(125	)	Loews Corp.-Carolina Group, strike price $80, expires 06/18/07		(8,750	)
	(140	)	McDonald’s Corp., strike price $45, expires 06/18/07		(58,940	)
	(200	)	McDonald’s Corp., strike price $50, expires 06/18/07		(14,000	)
	(85	)	Merck & Co., Inc., strike price $45, expires 05/21/07		(56,100	)
	(27,000	)	Merck & Co., Inc., strike price $53.02, expires 06/29/07		(28,788	)
	(120	)	MGM Mirage, strike price $75, expires 05/21/07		(3,600	)
	(100	)	MGM Mirage, strike price $75, expires 06/18/07		(7,500	)
	(17,000	)	Microsoft Corp., strike price $29.38, expires 06/15/07		(19,687	)
	(340	)	Microsoft Corp., strike price $30, expires 07/23/07		(39,100	)
	(160	)	Mizuho Financial Group, Inc., strike price 837 JPY, expires 05/09/07		—
	(140	)	Motorola, Inc., strike price $19, expires 05/21/07		(1,400	)
	(140	)	Motorola, Inc., strike price $19, expires 07/23/07		(4,900	)
	(105	)	Motorola, Inc., strike price $20, expires 07/23/07		(3,150	)
	(4,300	)	Nestle S.A., strike price 485.91 CHF, expires 06/12/07		(26,536	)
	(147,700	)	New World Development Ltd., strike price 18.58 HKD, expires 05/29/07		(14,873	)
	(732,000	)	New World Development Ltd., strike price 19.04 HKD, expires 06/26/07		(85,745	)
	(30	)	Nike, Inc., strike price $55, expires 05/19/07		(1,650	)
	(70	)	Nike, Inc., strike price $55, expires 07/23/07		(12,250	)
	(15,000	)	Nike, Inc., strike price $55.12, expires 06/29/07		(17,539	)
	(3,200	)	Nintendo Co. Ltd., strike price 34 JPY, expires 06/05/07		(89,386	)
	(75	)	Nippon Commercial Investment Corp. (REIT), strike price 623 JPY, expires 06/05/07		(17,420	)
	(70,000	)	Nordea Bank AB, strike price 112.51 SEK, expires 05/31/07		(54,953	)


Contracts			Description	Value

			OUTSTANDING CALL OPTIONS WRITTEN—(cont’d)
	(23,800	)	Oriflame Cosmetics S.A., strike price 348.49 SEK, expires 06/29/07	$	(78,480	)
	(105,000	)	Orkla ASA, strike price 431.53 NOK, expires 05/31/07		(164,630	)
	(55,000	)	Orkla ASA, strike price 84.70 NOK, expires 05/08/07		(103,314	)
	(27,000	)	Partner Communications (ADR), strike price $14.30, expires 05/18/07		(57,233	)
	(61,000	)	Partner Communications (ADR), strike price $17.75, expires 07/20/07		(23,215	)
	(145	)	Pepco Holdings, Inc., strike price $30, expires 05/21/07		(7,250	)
	(215	)	Pepco Holdings, Inc., strike price $30, expires 08/20/07		(21,500	)
	(170	)	PepsiCo, Inc., strike price $65, expires 05/21/07		(26,860	)
	(85	)	PepsiCo, Inc., strike price $65, expires 07/23/07		(22,100	)
	(85	)	PetroChina Co. Ltd. (ADR), strike price $115, expires 06/18/07		(28,900	)
	(70	)	PetroChina Co. Ltd. (ADR), strike price $125, expires 06/18/07		(6,300	)
	(60	)	Petroleo Brasileiro S.A. (ADR), strike price $110, expires 06/18/07		(12,000	)
	(35	)	Petroleo Brasileiro S.A. (ADR), strike price $95, expires 05/21/07		(25,200	)
	(9,800	)	Philippine Long Distance Telephone Co. (ADR), strike price $51.67, expires 05/18/07		(27,109	)
	(170	)	Philippine Long Distance Telephone Co. (ADR), strike price $55, expires 06/18/07		(37,400	)
	(13,000	)	Piraeus Bank S.A., strike price 24.75 EUR, expires 05/08/07		(35,509	)
	(27,200	)	Piraeus Bank S.A., strike price 26.98 EUR, expires 05/31/07		(23,527	)
	(50	)	Potash Corp. of Saskatchewan, strike price $165, expires 05/21/07		(81,000	)
	(35	)	Potash Corp. of Saskatchewan, strike price $175, expires 06/18/07		(42,000	)
	(140	)	Procter & Gamble Co., strike price $65, expires 06/18/07		(19,460	)
	(95	)	Public Service Enterprise Group, Inc., strike price $77, expires 05/07/07		(89,979	)
	(25	)	Public Service Enterprise Group, Inc., strike price $80, expires 06/18/07		(19,250	)
	(15,600	)	Publishing & Broadcasting Ltd., strike price 19.54 AUD, expires 05/29/07		(14,313	)
	(42,000	)	Publishing & Broadcasting Ltd., strike price 20.39 AUD, expires 06/26/07		(25,950	)
	(7,800	)	QBE Insurance Group Ltd., strike price 31 AUD, expires 05/29/07		(3,969	)
	(35,000	)	QBE Insurance Group Ltd., strike price 33.37 AUD, expires 06/26/07		(7,552	)
	(130	)	Rodamco Europe N.V., strike price 106 EUR, expires 06/15/07		(93,137	)
	(6,000	)	RWE AG, strike price 82.85 EUR, expires 06/12/07		(5,426	)
	(54	)	RWE AG, strike price 86 EUR, expires 06/15/07		(2,137	)

See Notes to Financial Statements.

BlackRock Global Opportunities Equity Trust (BOE) (continued)

(Percentages shown are based on Net Assets)


Contracts			Description	Value

			OUTSTANDING CALL OPTIONS WRITTEN—(cont’d)
	(15,000	)	SBM Offshore N.V., strike price 26.89 EUR, expires 05/08/07	$	(3,572	)
	(26,000	)	SBM Offshore N.V., strike price 27.40 EUR, expires 06/22/07		(18,563	)
	(8,000	)	Schneider Electric S.A., strike price 92.50 EUR, expires 06/15/07		(130,827	)
	(19,000	)	Scottish & Southern Energy Plc, strike price 15.14 GBP, expires 05/08/07		(7,739	)
	(40,000	)	Scottish & Southern Energy Plc, strike price 15.26 GBP, expires 05/31/07		(32,352	)
	(80	)	Siemens AG, strike price 92 EUR, expires 06/15/07		(21,944	)
	(391,000	)	Singapore Telecommunications Ltd., strike price 3.54 SGD, expires 06/26/07		(24,846	)
	(58,000	)	Skanska AB, B Shares, strike price 154.22 SEK, expires 06/12/07		(61,736	)
	(93,000	)	Smiths Group Plc, strike price 10.28 GBP, expires 05/31/07		(119,162	)
	(781,000	)	SP AusNet, strike price 1.42 AUD, expires 06/26/07		(44,991	)
	(157,000	)	SP AusNet, strike price 1.46 AUD, expires 05/29/07		(4,932	)
	(87,000	)	St. George Bank Ltd., strike price 35.17 AUD, expires 06/26/07		(109,810	)
	(30	)	Starwood Hotels & Resorts Worldwide, Inc., strike price $70, expires 05/21/07		(1,650	)
	(120	)	Starwood Hotels & Resorts Worldwide, Inc., strike price $70, expires 06/18/07		(18,000	)
	(142,000	)	Storebrand ASA, strike price 106.02 NOK, expires 06/12/07		(66,540	)
	(12,000	)	Stryker Corp., strike price $67.51, expires 05/18/07		(4,586	)
	(60	)	Stryker Corp., strike price $70, expires 06/18/07		(2,400	)
	(80	)	Sumitomo Mitsui Financial Group, Inc., strike price 1 JPY, expires 05/09/07		(83	)
	(125	)	Sunoco, Inc., strike price $74, expires 05/30/07		(46,131	)
	(11,000	)	Svenska Cellulosa AB, strike price 375.50 SEK, expires 05/08/07		(65	)
	(14,300	)	Svenska Cellulosa AB, strike price 384.94 SEK, expires 06/12/07		(2,554	)
	(5,200	)	Syngenta AG, strike price 240.18 CHF, expires 06/12/07		(39,623	)
	(385	)	Taiwan Semiconductor Manufacturing Co. Ltd. (ADR), strike price $10.75, expires 07/12/07		(9,625	)
	(87,700	)	Taiwan Semiconductor Manufacturing Co. Ltd. (ADR), strike price $11.40, expires 05/18/07		(2,698	)
	(24,000	)	Taiwan Semiconductor Manufacturing Co. Ltd. (ADR), strike price $11.70, expires 06/15/07		(772	)
	(12,500	)	Teck Cominco Ltd., Class B, strike price 45 CAD, expires 07/20/07		(29,131	)
	(70	)	Teck Cominco Ltd., Class B, strike price 47.50 CAD, expires 05/21/07		(631	)
	(270	)	TELUS Corp., strike price 60 CAD, expires 05/21/07		(54,735	)
	(100	)	TELUS Corp., strike price 64 CAD, expires 08/18/07		(22,525	)


Contracts			Description	Value

			OUTSTANDING CALL OPTIONS WRITTEN—(cont’d)
	(12,800	)	Textron, Inc., strike price $101.61, expires 06/29/07	$	(52,641	)
	(35	)	Textron, Inc., strike price $95, expires 06/18/07		(29,400	)
	(97,000	)	Truworths Intl. Ltd., strike price 37.44 ZAR, expires 06/12/07		(40,484	)
	(57,700	)	Truworths Intl. Ltd., strike price 37.83 ZAR, expires 06/06/07		(20,889	)
	(180	)	UBS AG, strike price 78 CHF, expires 06/15/07		(47,692	)
	(152,800	)	Unicredito Italiano S.p.A., strike price 7.39 EUR, expires 05/08/07		(47,021	)
	(28,700	)	United Overseas Bank Ltd., strike price 21.22 SGD, expires 05/29/07		(14,188	)
	(131,000	)	United Overseas Bank Ltd., strike price 23.37 SGD, expires 06/26/07		(24,468	)
	(165,000	)	United Utilities Plc, strike price 7.55 GBP, expires 05/31/07		(42,484	)
	(175	)	Vodafone Group Plc (ADR), strike price $27.50, expires 05/21/07		(27,125	)
	(70	)	Vodafone Group Plc (ADR), strike price $28.50, expires 06/22/07		(5,984	)
	(115	)	Vodafone Group Plc (ADR), strike price $30, expires 07/23/07		(5,750	)
	(30,000	)	Wartsila Oyj, B Shares, strike price 46.32 EUR, expires 05/31/07		(153,775	)
	(180	)	Waters Corp., strike price $60, expires 05/19/07		(17,100	)
	(38,000	)	Whitbread Plc, strike price 19.39 GBP, expires 05/31/07		(31,693	)
	(32,500	)	Windstream Corp., strike price $15, expires 05/25/07		(4,505	)
	(300	)	Windstream Corp., strike price $15, expires 06/18/07		(10,500	)
	(125	)	Yum! Brands, Inc., strike price $63, expires 06/22/07		(17,381	)
	(85	)	Yum! Brands, Inc., strike price $65, expires 07/23/07		(11,050	)
	(40	)	Zimmer Holdings, Inc., strike price $90, expires 05/21/07		(6,800	)
	(70	)	Zimmer Holdings, Inc., strike price $90, expires 06/18/07		(21,700	)

			Total Outstanding Call Options Written (premium received $(4,899,753))		(7,722,114	)

			OUTSTANDING PUT OPTION WRITTEN—0.0%
	(70,000	)	Verigy Ltd., strike price $23.75, expires 05/18/07 (premium received $(38,500))		(35,239	)

			Total Outstanding Options Written (premium received $(4,938,253))		(7,757,353	)

			Total Investments net of outstanding options written—98.2%	$	354,708,927
			Other assets in excess of liabilities—1.8%		6,428,062

			Net Assets—100.0%	$	361,136,989

See Notes to Financial Statements.

BlackRock Global Opportunities Equity Trust (BOE) (continued)



¹	Non-income producing security.
²	Security, or a portion thereof, pledged as collateral for outstanding options written.
³	Represents current yield as of April 30, 2007.
⁴	Cost for federal income tax purposes is $320,463,333. The net unrealized appreciation on a tax basis is $42,002,947, consisting of $44,377,570 gross unrealized appreciation and $2,374,623 gross unrealized depreciation.


KEY TO ABBREVIATIONS

ADR	—	American Depositary Receipt
AUD	—	Australian Dollar
CAD	—	Canadian Dollar
CHF	—	Swiss Franc
DKK	—	Danish Krone
EUR	—	Euro
GBP	—	British Pound
HKD	—	Hong Kong Dollar
JPY	—	Japanese Yen
MXN	—	Mexican Peso
NOK	—	Norwegian Krone
REIT	—	Real Estate Investment Trust
SEK	—	Swedish Krona
SGD	—	Singapore Dollar
ZAR	—	South African Rand

See Notes to Financial Statements.

PORTFOLIO OF INVESTMENTS (unaudited)
APRIL 30, 2007

BlackRock Health Sciences Trust (BME)

(Percentages shown are based on Net Assets)


Shares			Description	Value

			LONG-TERM INVESTMENTS—88.8%
			Common Stocks—88.8%
			Biotechnology—19.6%
	186,600	¹	Alexion Pharmaceuticals, Inc.	$	7,811,076
	99,500	¹	Applera Corp. - Celera Group		1,393,000
	96,400		Biogen Idec, Inc.		4,551,044
	58,200	¹	Charles River Laboratories Intl., Inc.		2,756,352
	74,500	¹	Genentech, Inc.		5,959,255
	90,700	¹	Integra LifeSciences Holdings Corp.		4,133,199
	99,067	¹	InterMune, Inc.		2,864,027
	191,718	¹	Kosan Biosciences, Inc.		1,102,378
	138,400	¹	Myriad Genetics, Inc.		5,058,520
	64,537	¹	NicOx S.A.		1,721,330
	120,800	¹	Regeneron Pharmaceuticals, Inc.		3,285,760
	21,300	¹	Seattle Genetics, Inc.		202,563
	40,500	¹	Vertex Pharmaceuticals, Inc.		1,244,970
	54,000	¹	XOMA Ltd.		183,600

			Total Biotechnology		42,267,074

			Distribution/Wholesale—1.1%
	22,300	¹	MWI Veterinary Supply, Inc.		828,668
	46,200		Owen & Minor, Inc.		1,633,170

			Total Distribution/Wholesale		2,461,838

			Electronics—1.6%
	39,200	¹	Varian, Inc.		2,272,032
	19,700	¹	Waters Corp.		1,170,771

			Total Electronics		3,442,803

			Healthcare Products—30.9%
	18,900	¹	Alcon, Inc.		2,550,177
	93,800		Baxter Intl., Inc.		5,311,894
	72,000		Becton Dickinson & Co.		5,665,680
	94,800		Biomet, Inc.		4,095,360
	26,400		Cooper Cos., Inc. (The)		1,349,040
	83,000	¹	Cyberonics, Inc.		1,814,380
	105,300		Dentsply Intl., Inc.		3,518,073
	38,100	¹	Edwards Lifesciences Corp.		1,866,900
	143,300		Johnson & Johnson		9,202,726
	128,600		Medtronic, Inc.		6,806,798
	52,600	¹	SenoRx, Inc.		418,170
	29,800		St. Jude Medical, Inc.		1,275,142
	126,500		Stryker Corp.		8,214,910
	133,600	¹	Thoratec Corp.		2,621,232
	41,100	¹	Ventana Medical Systems, Inc.		1,997,049
	211,500	¹	Wright Medical Group, Inc.		4,995,630
	52,100		Zimmer Holdings, Inc.		4,714,008

			Total Healthcare Products		66,417,169

			Healthcare Services—6.3%
	89,100		Aetna, Inc.		4,177,008
	84,000	²	Manor Care, Inc.		5,450,760
	19,600	¹	Pediatrix Medical Group, Inc.		1,118,180
	53,500		UnitedHealth Group, Inc.		2,838,710

			Total Healthcare Services		13,584,658

			Pharmaceuticals—28.5%
	88,500		Abbott Laboratories		5,010,870
	200,938	¹	BioMarin Pharmaceuticals, Inc.		3,247,158
	21,900	¹	Cardiome Pharma Corp.		204,765
	68,700	¹	CV Therapeutics, Inc.		579,141


Shares			Description	Value

			Pharmaceuticals—(cont’d)
	65,100		Gilead Sciences, Inc.	$	5,319,972
	221,800	²	Merck & Co., Inc.		11,409,392
	29,500		Novartis AG (ADR)		1,713,655
	185,900	²	Pfizer, Inc.		4,918,914
	66,500	¹	Poniard Pharmaceuticals, Inc.		462,175
	60,550		Roche Holding AG		11,401,996
	206,000		Schering-Plough Corp.		6,536,380
	55,900	¹	Tongjitang Chinese Medicines Co. (ADR)		595,335
	9,600	¹	United Therapeutics Corp.		536,736
	168,300		Wyeth		9,340,650

			Total Pharmaceuticals		61,277,139

			Retail—0.8%
	48,700		CVS/Caremark Corp.		1,764,888

			Total Common Stocks
			(cost $166,123,720)		191,215,569

			SHORT-TERM INVESTMENTS—18.1%
			Money Market Fund—3.0%
	6,527,546	³	Fidelity Institutional Money Market Prime Portfolio, 4.97%		6,527,546



Principal Amount

			U.S. Government and Agency Discount Notes—15.1%
$	32,400,000	⁴	Federal Home Loan Bank Disc. Notes, 5.06%, 5/01/07	32,400,000

			Total Short-Term Investments
			(cost $38,927,546)	38,927,546

			Total Investments before outstanding options written (cost $205,051,266⁵)	230,143,115



Contracts

			OUTSTANDING OPTIONS WRITTEN—(0.8)%
			OUTSTANDING CALL OPTIONS WRITTEN—(0.8)%
	(250	)	Abbott Laboratories, strike price $56.25, expires 06/05/07	(41,358	)
	(200	)	Aetna, Inc., strike price $45, expires 05/21/07	(53,000	)
	(250	)	Alexion Pharmaceuticals, Inc., strike price $45, expires 05/21/07	(11,250	)
	(81	)	Alexion Pharmaceuticals, Inc., strike price $45, expires 06/18/07	(10,125	)
	(100	)	Alexion Pharmaceuticals, Inc., strike price $50, expires 05/21/07	(1,000	)
	(50	)	Applera Corp. - Celera Group, strike price $15, expires 05/21/07	(750	)
	(200	)	Applera Corp. - Celera Group, strike price $17.50, expires 06/16/07	(3,000	)
	(200	)	Baxter Intl., Inc., strike price $52.50, expires 05/19/07	(88,000	)
	(100	)	Becton Dickinson & Co., strike price $80, expires 05/21/07	(6,000	)
	(100	)	Biogen Idec, Inc., strike price $50, expires 06/18/07	(8,500	)
	(100	)	Biogen Idec, Inc., strike price $50, expires 07/23/07	(14,000	)

See Notes to Financial Statements.

BlackRock Health Sciences Trust (BME) (continued)

(Percentages shown are based on Net Assets)


Contracts			Description	Value

			OUTSTANDING CALL OPTIONS WRITTEN—(cont’d)
	(250	)	BioMarin Pharmaceuticals, Inc., strike price $17.50, expires 05/21/07	$	(5,000	)
	(100	)	Cardiome Pharma Corp., strike price $12.50, expires 06/18/07		(2,000	)
	(100	)	Charles River Laboratories Intl., Inc., strike price $50, expires 05/21/07		(4,000	)
	(60	)	Cooper Cos., Inc. (The), strike price $50, expires 05/21/07		(14,400	)
	(100	)	Cyberonics, Inc., strike price $22.50, expires 05/21/07		(8,000	)
	(300	)	Dentsply Intl., Inc., strike price $33.25, expires 05/25/07		(25,263	)
	(50	)	Edwards Lifesciences Corp., strike price $50, expires 05/21/07		(5,250	)
	(50	)	Genentech, Inc., strike price $85, expires 05/21/07		(1,250	)
	(50	)	Genentech, Inc., strike price $90, expires 06/18/07		(1,250	)
	(100	)	Gilead Sciences, Inc., strike price $80, expires 05/21/07		(29,500	)
	(40	)	Integra LifeSciences Holdings Corp., strike price $45, expires 06/18/07		(9,800	)
	(100	)	Integra LifeSciences Holdings Corp., strike price $50, expires 06/18/07		(5,500	)
	(250	)	Johnson & Johnson, strike price $65, expires 05/21/07		(11,250	)
	(230	)	Manor Care, Inc., strike price $55, expires 05/19/07		(236,900	)
	(200	)	Medtronic, Inc., strike price $55, expires 05/19/07		(6,000	)
	(250	)	Merck & Co., Inc., strike price $46.50, expires 05/30/07		(128,684	)
	(300	)	Merck & Co., Inc., strike price $46.50, expires 06/29/07		(161,169	)
	(100	)	Myriad Genetics, Inc., strike price $35, expires 05/21/07		(21,000	)
	(250	)	Myriad Genetics, Inc., strike price $38, expires 05/30/07		(147	)
	(500	)	Pfizer, Inc., strike price $27.50, expires 06/18/07		(10,000	)
	(200	)	Regeneron Pharmaceuticals, Inc., strike price $22.50, expires 05/21/07		(106,000	)
	(150	)	Regeneron Pharmaceuticals, Inc., strike price $30, expires 06/18/07		(16,500	)
	(11,000	)	Roche Holding AG, strike price 220 CHF, expires 06/12/07		(98,605	)
	(225	)	Schering-Plough Corp., strike price $25, expires 05/21/07		(153,000	)
	(250	)	Schering-Plough Corp., strike price $25.50, expires 05/31/07		(163,000	)
	(50	)	St. Jude Medical, Inc., strike price $45, expires 05/21/07		(1,750	)
	(100	)	Stryker Corp., strike price $65, expires 05/21/07		(13,500	)
	(50	)	Stryker Corp., strike price $65, expires 06/16/07		(10,500	)
	(10,000	)	Stryker Corp., strike price $67.51, expires 05/18/07		(3,822	)
	(100	)	Stryker Corp., strike price $70, expires 06/18/07		(4,000	)


Contracts			Description	Value

			OUTSTANDING CALL OPTIONS WRITTEN—(cont’d)
	(200	)	Thoratec Corp., strike price $22.50, expires 05/21/07	$	(2,000	)
	(100	)	UnitedHealth Group, Inc., strike price $55, expires 06/18/07		(11,000	)
	(30	)	Varian, Inc., strike price $60, expires 05/21/07		(1,800	)
	(100	)	Ventana Medical Systems, Inc., strike price $50, expires 06/18/07		(14,000	)
	(30	)	Vertex Pharmaceuticals, Inc., strike price $35, expires 05/21/07		(600	)
	(100	)	Waters Corp., strike price $60, expires 05/19/07		(9,500	)
	(200	)	Wright Medical Group, Inc., strike price $25, expires 05/21/07		(8,000	)
	(80,000	)	Wright Medical Group, Inc., strike price $26, expires 05/30/07		(12,533	)
	(200	)	Wyeth, strike price $57.50, expires 05/21/07		(5,000	)
	(235	)	Wyeth, strike price $57.50, expires 07/23/07		(28,200	)
	(250	)	Wyeth, strike price $60, expires 07/23/07		(13,750	)
	(150	)	Zimmer Holdings, Inc., strike price $90, expires 06/18/07		(46,500	)

			Total Outstanding Call Options Written (premium received $(879,826))		(1,646,906	)


			OUTSTANDING PUT OPTIONS WRITTEN—0.0%
	(150	)	Abbott Laboratories, strike price $55, expires 05/21/07		(4,500	)
	(30	)	Abbott Laboratories, strike price $57.50, expires 05/21/07		(4,350	)
	(25,000	)	Aetna, Inc., strike price $44, expires 05/18/07		(5,902	)
	(10	)	Alcon, Inc., strike price $135, expires 05/21/07		(3,430	)
	(100	)	Becton Dickinson & Co., strike price $75, expires 05/21/07		(2,500	)
	(100	)	Cyberonics, Inc., strike price $20, expires 05/21/07		(3,500	)
	(400	)	Gilead Sciences, Inc., strike price $75, expires 05/21/07		(8,000	)
	(300	)	Gilead Sciences, Inc., strike price $80, expires 05/21/07		(25,500	)
	(20	)	Noble Corp., strike price $35, expires 05/21/07		(900	)
	(50	)	Pediatrix Medical Group, Inc., strike price $55, expires 05/21/07		(2,250	)
	(100	)	Stryker Corp., strike price $65, expires 05/21/07		(11,500	)

			Total Outstanding Put Options Written (premium received $(118,616))		(72,332	)

			Total Outstanding Options Written (premium received $(998,442))		(1,719,238	)

			Total Investments net of outstanding options written—106.1%	$	228,423,877
			Liabilities in excess of other assets—(6.1)%		(13,150,127	)

			Net Assets—100.0%	$	215,273,750

See Notes to Financial Statements.

BlackRock Health Sciences Trust (BME) (continued)


¹	Non-income producing security.
²	Security, or a portion thereof, pledged as collateral for outstanding options written.
³	Represents current yield as of April 30, 2007.
⁴	Rate shown is the yield to maturity as of the date of purchase.
⁵	Cost for federal income tax purposes is $206,326,629. The net unrealized appreciation on a tax basis is $23,816,486, consisting of $24,272,970 gross unrealized appreciation and $456,484 gross unrealized depreciation.


KEY TO ABBREVIATIONS

ADR	—	American Depositary Receipt
CHF	—	Swiss Franc

See Notes to Financial Statements.

PORTFOLIO OF INVESTMENTS (unaudited)
APRIL 30, 2007

BlackRock Real Asset Equity Trust (BCF)

(Percentages shown are based on Net Assets)


Shares			Description	Value

			LONG-TERM INVESTMENTS—85.9%
			Common Stocks—85.9%
			Chemicals—7.3%
	40,000		Agrium, Inc.	$	1,549,200
	157,400	¹	Air Products & Chemicals, Inc.		12,041,100
	106,900		Celanese Corp., Ser. A		3,545,873
	109,025	¹	Dow Chemical Co. (The)		4,863,605
	377,879		E.I. du Pont de Nemours & Co.		18,580,311
	154,052		Lyondell Chemical Co.		4,794,098
	133,036		Olin Corp.		2,280,237
	21,320		Potash Corp. of Saskatchewan		3,827,366
	162,700		Praxair, Inc.		10,502,285
	158,100		Rohm & Haas Co.		8,089,977

			Total Chemicals		70,074,052

			Coal—3.3%
	180,000	¹	Arch Coal, Inc.		6,492,600
	232,100	¹	Consol Energy, Inc.		9,718,027
	272,300		Massey Energy Co.		7,333,039
	177,200		Peabody Energy Corp.		8,502,056

			Total Coal		32,045,722

			Forest Products & Paper—6.4%
	469,992	¹	Intl. Paper Co.		17,728,098
	347,011		MeadWestvaco Corp.		11,576,287
	213,383		Temple-Inland, Inc.		12,640,809
	449,703		Votorantim Celulose e Papel S.A. (ADR)		8,985,066
	142,604		Weyerhauser Co.		11,297,089

			Total Forest Products & Paper		62,227,349

			Iron & Steel—0.7%
	27,900		Allegheny Technologies, Inc.		3,057,282
	29,800		Carpenter Technology Corp.		3,616,826

			Total Iron & Steel		6,674,108

			Machinery—2.4%
	263,625		Caterpillar, Inc.		19,144,448
	37,983		Deere & Co.		4,155,340

			Total Machinery		23,299,788

			Metal—0.9%
	5,795,000		Jiangxi Copper Co. Ltd.		8,160,067

			Mining—35.3%
	198,000		Aber Diamond Corp.		7,155,401
	288,950	²	African Rainbow Minerals Ltd.		4,840,568
	150,000	¹	Agnico-Eagle Mines Ltd.		5,292,000
	250,000	²	Alamos Gold, Inc.		1,502,388
	79,450	¹	Alcan, Inc.		4,677,222
	153,550	¹	Alcoa, Inc.		5,449,489
	1,969,600		Alumina Ltd.		11,628,134
	190,050		Anglo American Plc		10,008,112
	46,500		Anglo Platinum Ltd.		7,469,016
	693,000		Antofagasta Plc		7,344,615
	112,700	¹	Barrick Gold Corp.		3,167,997
	982,000		BHP Billiton Plc		21,942,090
	162,450	¹	Cia de Minas Buenaventura S.A. (ADR)		5,292,621
	413,050	¹	Cia Vale do Rio Doce (ADR)		16,773,960
	23,450		Eramet		5,614,026
	252,000		First Quantum Minerals Ltd.		17,398,649
	124,500	¹	Freeport-McMoRan Copper & Gold, Inc.		8,361,420
	64,000		Gold Fields Ltd.		1,144,465


Shares			Description	Value

			Mining—(cont’d)
	202,750	¹	Goldcorp, Inc.	$	4,934,935
	1,302,500		Iluka Resources Ltd.		6,272,978
	563,900		Impala Platinum Holdings Ltd.		18,187,789
	650,317		Industrias Penoles SA de CV		8,045,906
	640,900		Jubille Mines NL		8,992,180
	253,000		Kazakhmys Plc		5,730,376
	1,984,867	²	Lihir Gold Ltd.		4,892,637
	64,000		Lonmin Plc		4,183,178
	1,926,950		Minara Resources Ltd.		11,762,653
	1,558,650		Minsur S.A.		5,172,576
	19,250		MMC Norilsk Nickel		3,666,885
	3,800		MMC Norilsk Nickel (ADR)		741,371
	63,900	¹	Newmont Mining Corp.		2,664,630
	2,340,050		Oxiana Ltd.		5,887,876
	377,400		Rio Tinto Plc		22,932,681
	32,550	¹	Southern Copper Corp.		2,613,765
	906,850		Straits Resources Ltd.		2,959,058
	180,150		Teck Cominco Ltd., Class B		13,648,809
	435,000		Vedanta Resources Plc		11,844,354
	440,032		Xstrata Plc		22,897,887
	7,315,250		Zijin Mining Group Co. Ltd.		4,237,156
	1,788,500		Zinifex Ltd.		24,427,220

			Total Mining		341,759,073

			Oil & Gas—21.1%
	65,900		Apache Corp.		4,777,750
	378,114		BG Group Plc		5,448,615
	74,500	²	Bill Barrett Corp.		2,749,050
	202,475	²	Cairn Energy Plc		6,802,149
	162,600		Canadian Natural Resources Ltd.		9,692,586
	165,384		Chesapeake Energy Corp.		5,581,710
	332,600	²	Compton Petroleum Corp.		3,554,046
	47,000		Devon Energy Corp.		3,424,890
	53,000		EnCana Corp.		2,779,850
	155,300		ENSCO Intl., Inc.		8,755,814
	146,800		EOG Resources, Inc.		10,780,992
	126,000	²	Exploration Co. of Delaware, Inc. (The)		1,306,620
	69,900	²	Forest Oil Corp.		2,463,276
	367,800	²	Galleon Energy, Inc.		5,368,376
	154,700		GlobalSantaFe Corp.		9,889,971
	196,900		Helmerich & Payne, Inc.		6,357,901
	159,800		Hess Corp.		9,068,650
	77,000		Husky Energy, Inc.		5,872,660
	51,700		Marathon Oil Corp.		5,250,135
	82,900	²	Nabors Industries Ltd.		2,662,748
	81,100	²	Newfield Exploration Co.		3,548,125
	69,400		Noble Corp.		5,844,174
	129,800		Noble Energy, Inc.		7,633,538
	205,600		Norsk Hydro ASA		7,086,683
	102,900		Occidental Petroleum Corp.		5,217,030
	22,000		Petroleo Brasileiro S.A. (ADR)		2,227,060
	40,700	²	Plains Exploration & Production Co.		1,912,493
	101,300	²	Pride Intl., Inc.		3,323,653
	117,800	²	Quicksilver Resources, Inc.		4,931,108
	72,300		Range Resources Corp.		2,642,565
	136,400	²	Real Resources, Inc.		1,137,998
	164,300	²	SeaDrill Ltd.		2,668,682
	86,500	²	Southwestern Energy Co.		3,633,000

See Notes to Financial Statements.

BlackRock Real Asset Equity Trust (BCF) (continued)

(Percentages shown are based on Net Assets)


Shares			Description	Value

			Oil & Gas—(cont’d)
	107,800	²	Statoil ASA (ADR)	$	3,025,946
	80,600		Suncor Energy, Inc.		6,488,300
	193,000		Talisman Energy, Inc.		3,667,000
	84,400	²	TODCO		3,836,824
	8,100		Total S.A. (ADR)		596,889
	128,900		Transocean, Inc.		11,111,180
	35,000	²	Unit Corp.		2,000,250
	60,600		Valero Energy Corp.		4,255,938
	88,000		XTO Energy, Inc.		4,775,760

			Total Oil & Gas		204,151,985

			Oil & Gas Services—6.9%
	188,600	²	Acergy S.A.		4,033,719
	45,900	²	Cameron Intl. Corp.		2,963,763
	82,800	²	Cie Generale de Geophysique-Veritas (ADR)		3,443,652
	129,000	²	Core Laboratories N.V.		11,728,680
	52,189	²	FMC Technologies, Inc.		3,699,157
	138,300	²	Grant Prideco, Inc.		7,127,982
	83,800	²	Hanover Compressor Co.		1,812,594
	98,500	²	Helix Energy Solutions Group, Inc.		3,768,610
	83,100	²	Hercules Offshore, Inc.		2,611,833
	51,800	²	National Oilwell Varco, Inc.		4,395,230
	166,700		Pason Systems, Inc.		2,341,520
	73,200		SBM Offshore N.V.		2,622,826
	93,300		Schlumberger Ltd.		6,888,339
	47,200		Smith Intl., Inc.		2,475,168
	130,400	²	Weatherford Intl. Ltd.		6,844,696

			Total Oil & Gas Services		66,757,769

			Pipelines—1.4%
	143,000		Questar Corp.		13,889,590

			Transportation—0.2%
	63,400		DryShips, Inc.		2,243,092

			Total Common Stocks (cost $681,605,352)		831,282,595

			SHORT-TERM INVESTMENTS—14.9%
			Money Market Fund—2.8%
	27,292,879	³	Fidelity Institutional Money Market Prime Portfolio, 4.97%		27,292,879



Principal Amount

			U.S. Government and Agency Discount Notes—12.1%
$	117,070,000	⁴	Federal Home Loan Bank Disc. Notes, 5.06%, 5/01/07	117,070,000

			Total Short-Term Investments (cost $144,362,879)	144,362,879

			Total Investments before outstanding options written (cost $825,968,231⁵)	975,645,474


Contracts			Description	Value

			OUTSTANDING OPTIONS WRITTEN—(1.2)%
			OUTSTANDING CALL OPTIONS WRITTEN—(1.1)%
	(320	)	Aber Diamond Corp, strike price 44 CAD, expires 05/21/07	$	(2,595	)
	(46,000	)	Acergy S.A., strike price 122.53 NOK, expires 05/08/07		(59,913	)
	(25,000	)	Acergy S.A., strike price 131 NOK, expires 06/12/07		(20,451	)
	(57,000	)	African Rainbow Minerals Ltd., strike price 106.05 ZAR, expires 05/08/07		(103,396	)
	(35,200	)	African Rainbow Minerals Ltd., strike price 106.65 ZAR, expires 06/06/07		(73,751	)
	(250	)	Agnico-Eagle Mines Ltd., strike price $40, expires 05/21/07		(5,000	)
	(100	)	Agrium, Inc., strike price $40, expires 05/21/07		(9,000	)
	(10,000	)	Agrium, Inc., strike price $42, expires 07/20/07		(15,200	)
	(100	)	Air Products & Chemicals, Inc., strike price $75, expires 05/21/07		(23,500	)
	(100	)	Air Products & Chemicals, Inc., strike price $75, expires 06/18/07		(32,000	)
	(32,000	)	Air Products & Chemicals, Inc., strike price $76, expires 05/30/07		(61,936	)
	(100	)	Alcan, Inc., strike price $55, expires 05/21/07		(53,000	)
	(250	)	Alcan, Inc., strike price $60, expires 06/18/07		(48,750	)
	(210	)	Alcoa, Inc., strike price $35, expires 07/23/07		(45,150	)
	(254	)	Alcoa, Inc., strike price $37.50, expires 05/21/07		(5,080	)
	(50	)	Allegheny Technologies, Inc., strike price $120, expires 07/23/07		(20,000	)
	(50	)	Allegheny Technologies, Inc., strike price $125, expires 05/21/07		(1,000	)
	(329,000	)	Alumina Ltd., strike price 7.68 AUD, expires 05/04/07		(19	)
	(327,000	)	Alumina Ltd., strike price 7.92 AUD, expires 06/26/07		(28,930	)
	(43,100	)	Anglo American Plc, strike price 25.96 GBP, expires 05/08/07		(84,406	)
	(20,000	)	Anglo American Plc, strike price 26.37 GBP, expires 05/31/07		(49,395	)
	(8,400	)	Anglo Platinum Ltd., strike price 1,103.90 ZAR, expires 05/08/07		(59,190	)
	(5,800	)	Anglo Platinum Ltd., strike price 1,144.25 ZAR, expires 06/06/07		(43,828	)
	(117,900	)	Antofagasta Plc, strike price 5.05 GBP, expires 05/08/07		(81,371	)
	(104,000	)	Antofagasta Plc, strike price 5.09 GBP, expires 05/31/07		(79,585	)
	(150	)	Apache Corp., strike price $75, expires 05/21/07		(11,250	)
	(100	)	Arch Coal, Inc., strike price $35, expires 07/23/07		(33,000	)

See Notes to Financial Statements.

BlackRock Real Asset Equity Trust (BCF) (continued)

(Percentages shown are based on Net Assets)


Contracts			Description	Value

			OUTSTANDING CALL OPTIONS WRITTEN—(cont’d)
	(10,000	)	Arch Coal, Inc., strike price $36, expires 05/18/07	$	(11,947	)
	(500	)	Arch Coal, Inc., strike price $40, expires 07/23/07		(60,000	)
	(250	)	Barrick Gold Corp., strike price $30, expires 05/21/07		(5,000	)
	(60,000	)	BG Group Plc, strike price 7.13 GBP, expires 05/08/07		(24,775	)
	(65,000	)	BG Group Plc, strike price 7.54 GBP, expires 06/12/07		(24,449	)
	(167	)	BHP Billiton Plc, strike price 11 GBP, expires 06/15/07		(232,093	)
	(150,000	)	BHP Billiton Plc, strike price 11.85 GBP, expires 06/12/07		(82,124	)
	(300	)	Bill Barrett Corp., strike price $40, expires 06/18/07		(24,000	)
	(150	)	Cameron Intl. Corp., strike price $60, expires 05/21/07		(94,500	)
	(100	)	Canadian Natural Resources Ltd., strike price $55, expires 06/18/07		(58,000	)
	(20,000	)	Canadian Natural Resources Ltd., strike price $55.50, expires 05/18/07		(89,653	)
	(100	)	Canadian Natural Resources Ltd., strike price $60, expires 05/21/07		(14,500	)
	(140	)	Canadian Natural Resources Ltd., strike price $60, expires 06/18/07		(44,940	)
	(50	)	Carpenter Technology Corp., strike price $135, expires 05/21/07		(1,500	)
	(50	)	Carpenter Technology Corp., strike price $135, expires 06/18/07		(9,750	)
	(400	)	Caterpillar, Inc., strike price $65, expires 05/21/07		(340,000	)
	(330	)	Caterpillar, Inc., strike price $67.50, expires 05/21/07		(186,450	)
	(250	)	Caterpillar, Inc., strike price $70, expires 05/21/07		(90,000	)
	(21,500	)	Celanese Corp., Ser. A, strike price $31.14, expires 05/18/07		(49,571	)
	(200	)	Celanese Corp., Ser. A, strike price $35, expires 06/18/07		(14,000	)
	(280	)	Chesapeake Energy Corp., strike price $32.50, expires 07/23/07		(70,000	)
	(10,000	)	Chesapeake Energy Corp., strike price $32.55, expires 05/18/07		(14,918	)
	(330	)	Cia de Minas Buenaventura S.A. (ADR), strike price $30, expires 06/18/07		(108,900	)
	(220	)	Cia de Minas Buenaventura S.A. (ADR), strike price $35, expires 05/21/07		(5,500	)
	(250	)	Cia Vale do Rio Doce (ADR), strike price $37.50, expires 05/21/07		(87,500	)
	(250	)	Cia Vale do Rio Doce (ADR), strike price $37.50, expires 06/18/07		(105,000	)
	(1,000	)	Cia Vale do Rio Doce (ADR), strike price $45, expires 06/18/07		(55,000	)
	(150	)	Cie Generale de Geophysique-Veritas (ADR), strike price $45, expires 05/21/07		(9,000	)


Contracts			Description	Value

			OUTSTANDING CALL OPTIONS WRITTEN—(cont’d)
	(10,000	)	Consol Energy, Inc., strike price $40.50, expires 06/15/07	$	(30,112	)
	(10,000	)	Consol Energy, Inc., strike price $41, expires 05/18/07		(18,689	)
	(500	)	Consol Energy, Inc., strike price $45, expires 07/23/07		(95,000	)
	(50	)	Core Laboratories N.V., strike price $100, expires 06/18/07		(5,750	)
	(150	)	Core Laboratories N.V., strike price $90, expires 05/21/07		(57,000	)
	(200	)	Core Laboratories N.V., strike price $90, expires 06/18/07		(94,000	)
	(100	)	Deere & Co., strike price $120, expires 05/21/07		(7,500	)
	(100	)	Devon Energy Corp., strike price $75, expires 05/21/07		(11,500	)
	(100	)	Devon Energy Corp., strike price $75, expires 07/23/07		(30,000	)
	(100	)	Dow Chemical Co. (The), strike price $45, expires 06/18/07		(14,000	)
	(25,000	)	Dow Chemical Co. (The), strike price $47.25, expires 06/29/07		(15,207	)
	(150	)	DryShips, Inc., strike price $25, expires 06/18/07		(163,500	)
	(60	)	DryShips, Inc., strike price $30, expires 05/21/07		(34,800	)
	(11,000	)	E.I. du Pont de Nemours & Co., strike price $52.50, expires 05/18/07		(297	)
	(250	)	E.I. du Pont de Nemours & Co., strike price $52.50, expires 07/23/07		(12,500	)
	(250	)	E.I. du Pont de Nemours & Co., strike price $55, expires 07/23/07		(3,750	)
	(26,000	)	EnCana Corp., strike price $51, expires 05/18/07		(52,514	)
	(12,500	)	ENSCO Intl., Inc., strike price $55, expires 05/18/07		(28,916	)
	(125	)	ENSCO Intl., Inc., strike price $57, expires 06/29/07		(31,250	)
	(200	)	ENSCO Intl., Inc., strike price $60, expires 06/18/07		(32,000	)
	(350	)	EOG Resources, Inc., strike price $75, expires 05/21/07		(47,250	)
	(50	)	EOG Resources, Inc., strike price $80, expires 07/23/07		(9,500	)
	(4,000	)	Eramet, strike price 160.10 EUR, expires 05/31/07		(94,362	)
	(3,800	)	Eramet, strike price 170.18 EUR, expires 06/12/07		(53,704	)
	(200	)	Exploration Co. of Delaware, Inc. (The), strike price $11.50, expires 05/30/07		(4,669	)
	(100	)	Exploration Co. of Delaware, Inc. (The), strike price $12.50, expires 08/20/07		(5,500	)
	(125	)	Exploration Co. of Delaware, Inc. (The), strike price $15, expires 05/21/07		(625	)
	(440	)	First Quantum Minerals Ltd., strike price 84 CAD, expires 05/21/07		(49,554	)

See Notes to Financial Statements.

BlackRock Real Asset Equity Trust (BCF) (continued)

(Percentages shown are based on Net Assets)


Contracts			Description	Value

			OUTSTANDING CALL OPTIONS WRITTEN—(cont’d)
	(400	)	First Quantum Minerals Ltd., strike price 86 CAD, expires 07/23/07	$	(126,138	)
	(100	)	FMC Technologies, Inc., strike price $75, expires 05/21/07		(7,000	)
	(200	)	Forest Oil Corp., strike price $35, expires 05/21/07		(22,000	)
	(250	)	Freeport-McMoRan Copper & Gold, Inc., strike price $65, expires 05/21/07		(80,000	)
	(300	)	GlobalSantaFe Corp., strike price $65, expires 05/21/07		(46,500	)
	(64,000	)	Gold Fields Ltd., strike price 138 ZAR, expires 05/08/07		(686	)
	(25,000	)	Grant Prideco, Inc., strike price $48, expires 05/18/07		(100,786	)
	(100	)	Grant Prideco, Inc., strike price $55, expires 05/21/07		(6,000	)
	(300	)	Hanover Compressor Co., strike price $22.50, expires 06/16/07		(28,500	)
	(100	)	Helix Energy Solutions Group, Inc., strike price $35, expires 06/18/07		(44,000	)
	(100	)	Helix Energy Solutions Group, Inc., strike price $40, expires 05/21/07		(11,500	)
	(130	)	Helix Energy Solutions Group, Inc., strike price $40, expires 06/18/07		(16,900	)
	(100	)	Helmerich & Payne, Inc., strike price $30, expires 06/18/07		(33,000	)
	(20,000	)	Helmerich & Payne, Inc., strike price $32, expires 05/30/07		(25,201	)
	(30,000	)	Helmerich & Payne, Inc., strike price $33, expires 05/30/07		(23,694	)
	(200	)	Hercules Offshore, Inc., strike price $35, expires 06/18/07		(9,000	)
	(100	)	Hess Corp., strike price $55, expires 05/21/07		(32,000	)
	(125	)	Hess Corp., strike price $57.50, expires 05/30/07		(19,046	)
	(35,000	)	Hess Corp., strike price $58.75, expires 06/15/07		(54,994	)
	(100	)	Husky Energy, Inc., strike price 82 CAD, expires 05/21/07		(32,661	)
	(200	)	Husky Energy, Inc., strike price 84 CAD, expires 07/23/07		(79,286	)
	(210,000	)	Iluka Resources Ltd., strike price 6.28 AUD, expires 06/26/07		(17,121	)
	(222,000	)	Iluka Resources Ltd., strike price 6.71 AUD, expires 05/03/07		(2	)
	(101,700	)	Impala Platinum Holdings Ltd., strike price 220.74 ZAR, expires 05/08/07		(160,044	)
	(73,700	)	Impala Platinum Holdings Ltd., strike price 231.62 ZAR, expires 06/06/07		(111,887	)
	(120,200	)	Industrias Penoles SA de CV, strike price $126.49, expires 05/07/07		(96,063	)
	(100,000	)	Industrias Penoles SA de CV, strike price 135.95 MXN, expires 06/01/07		(49,608	)
	(43,100	)	Intl. Paper Co., strike price $37.25, expires 05/31/07		(51,761	)


Contracts			Description	Value

			OUTSTANDING CALL OPTIONS WRITTEN—(cont’d)
	(440	)	Intl. Paper Co., strike price $37.50, expires 07/23/07	$	(79,200	)
	(680	)	Intl. Paper Co., strike price $38, expires 06/22/07		(83,347	)
	(907,000	)	Jiangxi Copper Co. Ltd., strike price 12.06 HKD, expires 06/26/07		(65,154	)
	(1,022,000	)	Jiangxi Copper Co. Ltd., strike price 8.86 HKD, expires 05/04/07		(306,230	)
	(82,800	)	Jubille Mines NL, strike price 17.26 AUD, expires 05/03/07		(6,675	)
	(130,000	)	Jubille Mines NL, strike price 19.05 AUD, expires 06/26/07		(31,838	)
	(41,000	)	Kazakhmys Plc, strike price 12 GBP, expires 06/12/07		(22,197	)
	(43,100	)	Kazakhmys Plc, strike price 12.43 GBP, expires 05/08/07		(598	)
	(272,300	)	Lihir Gold Ltd., strike price 3.23 AUD, expires 05/04/07		(147,024	)
	(253,225	)	Lihir Gold Ltd., strike price 3.26 AUD, expires 06/26/07		(137,372	)
	(17,900	)	Lonmin Plc, strike price 32.58 GBP, expires 05/31/07		(52,906	)
	(10,900	)	Lonmin Plc, strike price 33.06 GBP, expires 05/08/07		(13,514	)
	(300	)	Lyondell Chemical Co., strike price $35, expires 06/18/07		(6,000	)
	(200	)	Lyondell Chemical Co., strike price $35, expires 09/24/07		(20,200	)
	(125	)	Marathon Oil Corp., strike price $105, expires 05/21/07		(18,750	)
	(100	)	Marathon Oil Corp., strike price $105, expires 07/23/07		(40,000	)
	(50,000	)	MeadWestvaco Corp., strike price $31.25, expires 05/30/07		(114,774	)
	(72,000	)	MeadWestvaco Corp., strike price $32.47, expires 06/29/07		(121,149	)
	(292,000	)	Minara Resources Ltd., strike price 6.61 AUD, expires 05/04/07		(199,975	)
	(350,000	)	Minara Resources Ltd., strike price 8.78 AUD, expires 06/26/07		(44,836	)
	(450,000	)	Minsur S.A., strike price $10.04, expires 05/30/07		(91,845	)
	(3,800	)	MMC Norilsk Nickel (ADR), strike price $205.92, expires 06/12/07		(20,745	)
	(200	)	Nabors Industries Ltd., strike price $35, expires 06/18/07		(10,000	)
	(100	)	National Oilwell Varco, Inc., strike price $75, expires 05/21/07		(107,000	)
	(100	)	National Oilwell Varco, Inc., strike price $85, expires 06/18/07		(40,200	)
	(100	)	Newfield Exploration Co., strike price $45, expires 05/21/07		(11,500	)
	(100	)	Newfield Exploration Co., strike price $45, expires 06/18/07		(17,000	)
	(100	)	Newmont Mining Corp., strike price $45, expires 05/21/07		(1,500	)

See Notes to Financial Statements.

BlackRock Real Asset Equity Trust (BCF) (continued)

(Percentages shown are based on Net Assets)


Contracts			Description	Value

			OUTSTANDING CALL OPTIONS WRITTEN—(cont’d)
	(125	)	Newmont Mining Corp., strike price $47.50, expires 06/18/07	$	(2,500	)
	(40	)	Noble Corp., strike price $80, expires 06/18/07		(38,000	)
	(100	)	Noble Corp., strike price $85, expires 05/21/07		(23,000	)
	(50	)	Noble Corp., strike price $85, expires 06/18/07		(26,500	)
	(100	)	Noble Corp., strike price $90, expires 05/21/07		(8,000	)
	(250	)	Noble Energy, Inc., strike price $55, expires 05/21/07		(137,500	)
	(12,500	)	Noble Energy, Inc., strike price $61, expires 06/15/07		(17,176	)
	(200	)	Noble Energy, Inc., strike price $65, expires 05/21/07		(3,000	)
	(37,800	)	Norsk Hydro ASA, strike price 201.11 NOK, expires 05/07/07		(52,519	)
	(30,000	)	Norsk Hydro ASA, strike price 205 NOK, expires 06/12/07		(51,786	)
	(165	)	Occidental Petroleum Corp., strike price $50, expires 05/21/07		(24,750	)
	(290	)	Olin Corp., strike price $17, expires 06/05/07		(16,060	)
	(150	)	Olin Corp., strike price $17.50, expires 05/21/07		(3,000	)
	(404,000	)	Oxiana Ltd., strike price 2.93 AUD, expires 05/04/07		(37,799	)
	(375,000	)	Oxiana Ltd., strike price 3.28 AUD, expires 06/26/07		(23,509	)
	(27,500	)	Pason Systems, Inc., strike price 15 CAD, expires 05/18/07		(19,900	)
	(27,500	)	Pason Systems, Inc., strike price 15.30 CAD, expires 06/15/07		(19,552	)
	(250	)	Peabody Energy Corp., strike price $45, expires 06/18/07		(105,000	)
	(330	)	Peabody Energy Corp., strike price $50, expires 06/18/07		(69,300	)
	(100	)	Peabody Energy Corp., strike price $55, expires 06/18/07		(5,000	)
	(5,000	)	Petroleo Brasileiro S.A. (ADR), strike price $105, expires 06/15/07		(12,368	)
	(50	)	Petroleo Brasileiro S.A. (ADR), strike price $110, expires 05/21/07		(3,250	)
	(50	)	Potash Corp. of Saskatchewan, strike price $200, expires 06/18/07		(12,750	)
	(250	)	Praxair, Inc., strike price $66, expires 05/07/07		(1,565	)
	(300	)	Praxair, Inc., strike price $70, expires 07/23/07		(13,500	)
	(250	)	Pride Intl., Inc., strike price $35, expires 05/21/07		(16,250	)
	(100	)	Pride Intl., Inc., strike price $35, expires 07/23/07		(14,000	)
	(50	)	Questar Corp., strike price $95, expires 05/21/07		(25,000	)


Contracts			Description	Value

			OUTSTANDING CALL OPTIONS WRITTEN—(cont’d)
	(425	)	Questar Corp., strike price $95, expires 07/23/07	$	(250,750	)
	(100	)	Quicksilver Resources, Inc., strike price $43.75, expires 06/29/07		(18,500	)
	(100	)	Quicksilver Resources, Inc., strike price $45, expires 05/21/07		(4,500	)
	(200	)	Quicksilver Resources, Inc., strike price $45, expires 06/18/07		(23,000	)
	(200	)	Range Resources Corp., strike price $40, expires 06/18/07		(8,000	)
	(62	)	Rio Tinto Plc, strike price 29.36 GBP, expires 06/15/07		(283,825	)
	(64,300	)	Rio Tinto Plc, strike price 29.99 GBP, expires 05/08/07		(133,692	)
	(400	)	Rohm & Haas Co., strike price $55, expires 07/23/07		(28,000	)
	(25,000	)	SBM Offshore N.V., strike price 27.40 EUR, expires 06/22/07		(17,849	)
	(23,400	)	SBM Offshore N.V., strike price 28.64 EUR, expires 05/08/07		(70	)
	(50	)	Schlumberger Ltd., strike price $67.50, expires 05/21/07		(33,500	)
	(250	)	Schlumberger Ltd., strike price $70, expires 05/21/07		(125,000	)
	(41,000	)	SeaDrill Ltd., strike price 107.10 NOK, expires 06/12/07		(14,238	)
	(100	)	Smith Intl., Inc., strike price $50, expires 05/21/07		(40,000	)
	(100	)	Smith Intl., Inc., strike price $55, expires 06/18/07		(11,500	)
	(19	)	Southern Copper Corp., strike price $60, expires 06/18/07		(38,190	)
	(10,000	)	Southern Copper Corp., strike price $88.81, expires 06/29/07		(11,637	)
	(100	)	Southwestern Energy Co., strike price $41, expires 06/29/07		(37,000	)
	(250	)	Southwestern Energy Co., strike price $45, expires 05/21/07		(15,000	)
	(100	)	Statoil ASA (ADR), strike price $28.50, expires 05/30/07		(9,184	)
	(350	)	Statoil ASA (ADR), strike price $29, expires 06/29/07		(21,000	)
	(158,000	)	Straits Resources Ltd., strike price 3.35 AUD, expires 05/04/07		(77,547	)
	(144,000	)	Straits Resources Ltd., strike price 4.12 AUD, expires 06/26/07		(20,109	)
	(150	)	Suncor Energy, Inc., strike price $80, expires 06/18/07		(51,000	)
	(150	)	Suncor Energy, Inc., strike price $85, expires 06/18/07		(27,000	)
	(250	)	Talisman Energy, Inc., strike price $18.50, expires 06/11/07		(29,931	)
	(400	)	Talisman Energy, Inc., strike price $20, expires 07/23/07		(36,000	)
	(150	)	Teck Cominco Ltd., Class B, strike price 45 CAD, expires 08/20/07		(42,571	)

See Notes to Financial Statements.

BlackRock Real Asset Equity Trust (BCF) (continued)

(Percentages shown are based on Net Assets)


Contracts			Description	Value

			OUTSTANDING CALL OPTIONS WRITTEN—(cont’d)
	(200	)	Teck Cominco Ltd., Class B, strike price 46 CAD, expires 05/21/07	$	(7,208	)
	(250	)	Teck Cominco Ltd., Class B, strike price 47.50 CAD, expires 05/21/07		(2,252	)
	(450	)	Temple-Inland, Inc., strike price $62.25, expires 06/20/07		(60,617	)
	(25,000	)	Temple-Inland, Inc., strike price $62.51, expires 07/20/07		(36,250	)
	(280	)	TODCO, strike price $40, expires 06/18/07		(173,600	)
	(50	)	Total S.A. (ADR), strike price $75, expires 05/19/07		(4,000	)
	(100	)	Transocean, Inc., strike price $85, expires 05/21/07		(34,000	)
	(25,000	)	Transocean, Inc., strike price $86, expires 06/15/07		(100,588	)
	(100	)	Transocean, Inc., strike price $95, expires 05/21/07		(2,900	)
	(100	)	Unit Corp., strike price $60, expires 06/18/07		(10,000	)
	(100	)	Valero Energy Corp., strike price $65, expires 05/21/07		(58,000	)
	(68,000	)	Vedanta Resources Plc, strike price 14.25 GBP, expires 06/12/07		(67,927	)
	(74,000	)	Vedanta Resources Plc, strike price 14.38 GBP, expires 05/08/07		(14,039	)
	(50,000	)	Votorantim Celulose e Papel S.A. (ADR), strike price $19, expires 05/18/07		(55,668	)
	(370	)	Votorantim Celulose e Papel S.A. (ADR), strike price $20, expires 06/18/07		(49,950	)
	(50,000	)	Votorantim Celulose e Papel S.A. (ADR), strike price $20.91, expires 07/20/07		(32,615	)
	(200	)	Weatherford Intl. Ltd., strike price $43, expires 05/11/07		(191,287	)
	(100	)	Weatherford Intl. Ltd., strike price $50, expires 05/21/07		(34,000	)
	(100	)	Weatherford Intl. Ltd., strike price $55, expires 06/18/07		(14,500	)
	(330	)	Weyerhauser Co., strike price $80, expires 07/23/07		(132,000	)
	(100	)	Weyerhauser Co., strike price $85, expires 07/23/07		(21,500	)
	(64,300	)	Xstrata Plc, strike price 25.42 GBP, expires 05/08/07		(150,221	)
	(82,000	)	Xstrata Plc, strike price 26.47 GBP, expires 05/31/07		(173,038	)
	(1,227,500	)	Zijin Mining Group Co. Ltd., strike price 4.36 HKD, expires 05/04/07		(39,320	)
	(1,208,000	)	Zijin Mining Group Co. Ltd., strike price 5.06 HKD, expires 06/26/07		(30,924	)
	(315,000	)	Zinifex Ltd., strike price 16.84 AUD, expires 06/26/07		(190,072	)
	(280,000	)	Zinifex Ltd., strike price 17.19 AUD, expires 05/04/07		(4,539	)

			Total Outstanding Call Options Written (premium received $(8,328,217))		(10,946,264	)


Contracts			Description	Value

			OUTSTANDING PUT OPTIONS WRITTEN—(0.1)%
	(100	)	Agrium, Inc., strike price $35, expires 05/21/07	$	(2,500	)
	(100	)	Agrium, Inc., strike price $40, expires 05/21/07		(18,000	)
	(100	)	Alcan, Inc., strike price $45, expires 05/21/07		(500	)
	(250	)	Alcan, Inc., strike price $50, expires 06/18/07		(6,250	)
	(50	)	Allegheny Technologies, Inc., strike price $100, expires 06/18/07		(9,600	)
	(100	)	Allegheny Technologies, Inc., strike price $110, expires 05/21/07		(32,000	)
	(17,000	)	Canadian Natural Resources Ltd., strike price $58.50, expires 05/18/07		(14,268	)
	(625	)	Cia Vale do Rio Doce (ADR), strike price $40, expires 05/21/07		(53,125	)
	(150	)	Cie Generale de Geophysique-Veritas (ADR), strike price $40, expires 05/21/07		(9,750	)
	(530	)	Consol Energy, Inc., strike price $40, expires 05/21/07		(21,200	)
	(350	)	Deere & Co., strike price $105, expires 05/21/07		(64,750	)
	(300	)	Dow Chemical Co. (The), strike price $45, expires 05/21/07		(30,000	)
	(100	)	E.I. du Pont de Nemours & Co., strike price $47.50, expires 05/21/07		(3,000	)
	(25,000	)	E.I. du Pont de Nemours & Co., strike price $48.50, expires 05/09/07		(7,092	)
	(50	)	EOG Resources, Inc., strike price $70, expires 05/21/07		(3,250	)
	(200	)	Exploration Co. of Delaware, Inc. (The), strike price $10, expires 05/21/07		(6,000	)
	(230	)	Freeport-McMoRan Copper & Gold, Inc., strike price $65, expires 05/21/07		(21,850	)
	(100	)	Helix Energy Solutions Group, Inc., strike price $35, expires 06/18/07		(4,500	)
	(250	)	Lyondell Chemical Co., strike price $30, expires 05/21/07		(8,750	)
	(275	)	Massey Energy Co., strike price $25, expires 05/21/07		(6,875	)
	(230	)	National Oilwell Varco, Inc., strike price $75, expires 05/21/07		(2,300	)
	(350	)	Occidental Petroleum Corp., strike price $50, expires 05/21/07		(24,500	)
	(250	)	Petroleo Brasileiro S.A. (ADR), strike price $90, expires 05/21/07		(7,500	)
	(100	)	Potash Corp. of Saskatchewan, strike price $175, expires 05/21/07		(37,000	)
	(100	)	Quicksilver Resources, Inc., strike price $37.50, expires 05/11/07		(205	)
	(735	)	Range Resources Corp., strike price $35, expires 05/21/07		(22,050	)
	(100	)	Rohm & Haas Co., strike price $50, expires 05/21/07		(7,000	)
	(100	)	Smith Intl., Inc., strike price $50, expires 05/21/07		(2,600	)

See Notes to Financial Statements.

BlackRock Real Asset Equity Trust (BCF) (continued)

(Percentages shown are based on Net Assets)


Contracts			Description	Value

			OUTSTANDING PUT OPTIONS WRITTEN—(cont’d)
	(10,000	)	Southern Copper Corp., strike price $79.68, expires 05/09/07	$	(15,374	)
	(150	)	Suncor Energy, Inc., strike price $75, expires 05/21/07		(4,500	)
	(250	)	Temple-Inland, Inc., strike price $58.75, expires 05/25/07		(41,211	)
	(200	)	Temple-Inland, Inc., strike price $60, expires 05/21/07		(31,000	)
	(190	)	Weatherford Intl. Ltd., strike price $45, expires 05/21/07		(1,900	)
	(100	)	Weyerhauser Co., strike price $70, expires 05/21/07		(2,100	)
	(100	)	Weyerhauser Co., strike price $70, expires 06/18/07		(5,500	)
	(200	)	XTO Energy, Inc., strike price $50, expires 05/21/07		(4,000	)

			Total Outstanding Put Options Written (premium received $(649,860))		(532,000	)

			Total Outstanding Options Written (premium received $(8,978,077))		(11,478,264	)

			Total Investments net of outstanding options written—99.6%	$	964,167,210
			Other assets in excess of liabilities—0.4%		3,980,264

			Net Assets—100.0%	$	968,147,474


¹	Security, or a portion thereof, pledged as collateral for outstanding options written.
²	Non-income producing security.
³	Represents current yield as of April 30, 2007.
⁴	Rate shown is the yield to maturity as of the date of purchase.
⁵	Cost for federal income tax purposes is $827,007,193. The net unrealized appreciation on a tax basis is $148,638,281, consisting of $152,927,187 gross unrealized appreciation and $4,288,906 gross unrealized depreciation.


KEY TO ABBREVIATIONS

ADR	—	American Depositary Receipt
AUD	—	Australian Dollar
CAD	—	Canadian Dollar
EUR	—	Euro
GBP	—	British Pound
HKD	—	Hong Kong Dollar
MXN	—	Mexican Peso
NOK	—	Norwegian Krone
ZAR	—	South African Rand

See Notes to Financial Statements.

PORTFOLIO OF INVESTMENTS (unaudited)
APRIL 30, 2007

BlackRock S&P Quality Rankings Global Equity Managed Trust (BQY)

(Percentages shown are based on Net Assets)


Shares	Description	Value

	LONG-TERM INVESTMENTS—98.7%
	Common Stocks—98.7%
	Australia—6.5%
281,000	CSR Ltd.	$	852,307
117,200	Foster’s Group Ltd.		618,736
275,000	Gunns Ltd.		784,484
64,700	National Australia Bank Ltd.		2,298,298
126,100	Santos Ltd.		1,167,823
84,400	TABCORP Holdings Ltd.		1,264,755
33,200	Wesfarmers Ltd.		1,075,155

	Total Australia		8,061,558

	Austria—1.1%
14,000	Boehler-Uddeholm AG		1,365,475

	Canada—5.3%
25,500	Bank of Montreal		1,595,847
14,100	Bank of Nova Scotia		678,258
16,000	Enbridge, Inc.		527,615
30,600	Royal Bank of Canada		1,594,100
34,700	Toronto-Dominion Bank		2,119,705

	Total Canada		6,515,525

	Denmark—1.2%
32,400	Danske Bank A/S		1,513,021

	Finland—1.1%
19,200	Kesko Oyj, B Shares		1,332,058

	France—5.1%
16,200	AXA S.A.		743,801
11,700	Bouygues		932,269
19,400	M6-Metropole Television		689,639
5,300	Societe Generale		1,123,196
17,200	Total S.A.		1,267,951
9,100	Vinci S.A.		1,463,763

	Total France		6,220,619

	Germany—1.6%
10,500	BASF AG		1,252,767
15,200	SAP AG		731,449

	Total Germany		1,984,216

	Hong Kong—2.5%
71,000	Esprit Holdings Ltd.		860,504
22,600	Hang Seng Bank Ltd.		317,565
204,500	HongKong Electric Holdings		1,023,150
191,000	Hopewell Holdings		840,427

	Total Hong Kong		3,041,646

	Italy—2.6%
156,200	Enel S.p.A.		1,775,127
42,400	Eni S.p.A.		1,406,142

	Total Italy		3,181,269

	Japan—4.6%
11,700	Canon, Inc.		656,421
14,200	Hoya Corp.		436,353
53,000	Mitsui & Co. Ltd.		953,027
36,500	Nomura Holdings, Inc.		697,559
53,000	Ricoh Co. Ltd.		1,163,257
42,000	Sharp Corp.		770,753
17,300	Toyota Motor Corp.		1,050,784

	Total Japan		5,728,154


Shares		Description	Value

		Netherlands—2.3%
20,800		ABN AMRO Holding N.V.	$	1,009,192
104,100		Royal KPN N.V.		1,767,438

		Total Netherlands		2,776,630

		Norway—0.5%
22,900		Ekornes ASA		574,656

		Spain—0.6%
32,600		Indra Sistemas S.A.		802,501

		Sweden—5.4%
15,300		Hennes & Mauritz AB		1,011,444
26,500	¹	Kungsleden AB		427,701
80,300		Ratos AB, B Shares		2,667,281
27,000		Scania AB		2,579,698

		Total Sweden		6,686,124

		United Kingdom—9.9%
55,300		Alliance & Leicester Plc		1,258,014
141,100		Barclays Plc		2,037,020
40,000		George Wimpey Plc		463,384
64,100		GlaxoSmithKline Plc		1,848,853
61,200	¹	HSBC Holdings Plc		1,129,204
193,500		Rentokil Initial Plc		666,908
46,300		Royal Dutch Shell Plc, A Shares		1,607,925
69,183		Scottish & Southern Energy Plc		2,068,178
372,500		Vodafone Group Plc		1,059,746

		Total United Kingdom		12,139,232

		United States—48.4%
17,100		Abbott Laboratories		968,202
16,500		Agree Realty Corp. (REIT)		559,350
55,700		Allied Capital Corp.		1,609,730
29,600		Altria Group, Inc.		2,040,032
28,000		Ameren Corp.		1,471,960
11,100		American Intl. Group, Inc.		776,001
110,480		AT&T, Inc.		4,277,786
47,200		Bank of America Corp.		2,402,480
12,800		Chevron Corp.		995,712
13,200		Cisco Systems, Inc.		352,968
35,500		Citigroup, Inc.		1,903,510
11,200		Colonial Properties Trust (REIT)		555,632
17,300		ConAgra Foods, Inc.		425,234
24,600		Consolidated Edison, Inc.		1,260,996
18,800		Eli Lilly & Co.		1,111,644
45,200		Emerson Electric Co.		2,123,948
14,400		Equity Residential (REIT)		668,592
35,800		Exxon Mobil Corp.		2,841,804
25,900		First Industrial Realty Trust, Inc. (REIT)		1,134,161
76,100		General Electric Co.		2,805,046
37,600		Health Care REIT, Inc.		1,701,024
31,000		Hewlett-Packard Co.		1,306,340
21,400		Home Depot, Inc.		810,418
12,700		Hospitality Properties Trust (REIT)		578,231
68,500		Intel Corp.		1,472,750
16,400		Intl. Business Machines Corp.		1,676,244
16,800		Johnson & Johnson		1,078,896
17,300		KeyCorp		617,264
25,000		Kimco Realty Corp. (REIT)		1,201,750
20,483		Kraft Foods, Inc.		685,566
10,800		Liberty Properties Trust (REIT)		522,612

See Notes to Financial Statements.

BlackRock S&P Quality Rankings Global Equity Managed Trust (BQY) (continued)

(Percentages shown are based on Net Assets)


Shares	Description	Value

	United States—(cont’d)
23,000	McDonald’s Corp.	$	1,110,440
25,000	Merck & Co., Inc.		1,286,000
25,500	Microchip Technology, Inc.		1,028,670
79,700	Microsoft Corp.		2,386,218
17,100	Morgan Stanley		1,436,571
47,400	Motorola, Inc.		821,442
34,400	Nationwide Health Properties, Inc. (REIT)		1,102,864
7,900	PepsiCo, Inc.		522,111
56,800	Pfizer, Inc.		1,502,928
9,300	Pitney Bowes, Inc.		446,400
8,500	Rohm & Haas Co.		434,945
32,900	Thornburg Mortgage, Inc. (REIT)		914,620
13,800	United Technologies Corp.		926,394
21,900	UST, Inc.		1,241,292
13,800	Wachovia Corp.		766,452
12,100	Wal-Mart Stores, Inc.		579,832
30,100	Wells Fargo & Co.		1,080,289

	Total United States		59,523,351

	Total Common Stocks (cost $84,040,708)		121,446,035


Shares		Description	Value

		MONEY MARKET FUND—0.4%
554,805	²	Fidelity Institutional Money Market Prime Portfolio, 4.97% (cost $554,805)	$	554,805

		Total Investments—99.1% (cost $84,595,513³)	$	122,000,840
		Other assets in excess of liabilities—0.9%		1,048,796

		Net Assets—100.0%	$	123,049,636


¹	Non-income producing security.
²	Represents current yield as of April 30, 2007.
³	Cost for federal income tax purposes is $84,662,079. The net unrealized appreciation on a tax basis is $37,338,761, consisting of $37,862,689 gross unrealized appreciation and $523,928 gross unrealized depreciation.


KEY TO ABBREVIATIONS

REIT	—	Real Estate Investment Trust

See Notes to Financial Statements.

PORTFOLIO OF INVESTMENTS (unaudited)
APRIL 30, 2007

BlackRock World Investment Trust (BWC)

(Percentages shown are based on Net Assets)


Shares		Description		Value

		LONG-TERM INVESTMENTS—100.8%
		Common Stocks—99.5%
		Australia—3.7%
951,200		Lion Nathan Ltd.	$	7,205,273
261,400		Publishing & Broadcasting Ltd.		4,425,281
322,700		QBE Insurance Group Ltd.		8,183,427
4,084,700		SP AusNet		4,988,975
302,400		St. George Bank Ltd.		8,995,771

		Total Australia		33,798,727

		Bermuda—0.5%
115,800		Accenture Ltd., Class A		4,527,780

		Brazil—1.7%
91,900		Cia Energetica de Minas Gerais (ADR)		4,766,853
244,400		Gerdau S.A. (ADR)		4,895,332
58,100		Petroleo Brasileiro S.A. (ADR)		5,881,463

		Total Brazil		15,543,648

		Canada—3.7%
127,700		Barrick Gold Corp.		3,583,976
62,400		Canadian Imperial Bank of Commerce		5,492,819
43,000	¹	Potash Corp. of Saskatchewan		7,719,360
90,000		Teck Cominco Ltd., Class B		6,818,722
171,300		TELUS Corp.		9,497,975

		Total Canada		33,112,852

		Channel Islands—0.4%
69,100		Eurocastle Investment Ltd.		3,649,299

		China—1.5%
5,352,800		Industrial & Commercial Bank of China		2,908,658
97,200		PetroChina Co. Ltd. (ADR)		10,900,008

		Total China		13,808,666

		Denmark—1.0%
202,900		Danske Bank A/S		9,475,060

		Finland—1.4%
149,115		Fortum Oyj		4,616,771
126,300		Wartsila Oyj, B Shares		8,444,365

		Total Finland		13,061,136

		France—3.9%
47,700		Alstom S.A.		7,092,392
170,900		AXA S.A.		7,846,637
61,700		Schneider Electric S.A.		8,702,237
53,700		Societe Generale		11,380,304

		Total France		35,021,570

		Germany—6.0%
66,800		Bilfinger Berger AG		6,273,440
59,700		Deutsche Bank AG		9,157,431
49,400		E.ON AG		7,389,277
96,000		Hannover Rueckversicherung AG		4,860,598
64,900		K&S AG		8,440,073
57,900		Linde AG		6,477,372
49,000		RWE AG		5,164,742
52,400		Siemens AG		6,322,329

		Total Germany		54,085,262


Shares		Description		Value

		Greece—0.8%
188,650		Piraeus Bank S.A.	$	6,836,287

		Hong Kong—1.7%
384,000		Esprit Holdings Ltd.		4,653,994
520,700		Hong Kong Exchanges & Clearing Ltd.		4,960,515
2,324,000		New World Development Ltd.		5,456,608

		Total Hong Kong		15,071,117

		Israel—0.8%
440,600		Partner Communications (ADR)		7,181,780

		Italy—5.3%
2,087,000		AEM S.p.A.		8,158,860
372,600		Credito Emiliano S.p.A.		6,197,305
422,000		Enel S.p.A.		4,795,798
279,200		Eni S.p.A.		9,259,315
124,100		Fondiaria-SAI S.p.A. (Italy)		5,852,895
534,000		Milano Assicurazioni S.p.A.		5,259,856
782,100		UniCredito Italiano S.p.A.		8,035,541

		Total Italy		47,559,570

		Japan—3.7%
109,200		Daito Trust Construction Co. Ltd.		5,016,249
1,095		Mizuho Financial Group, Inc.		6,589,419
20,600		Nintendo Co. Ltd.		6,434,882
390		Nippon Commercial Investment Corp. (REIT)		1,978,674
25,470		ORIX Corp.		6,791,288
755		Sumitomo Mitsui Financial Group, Inc.		6,595,734

		Total Japan		33,406,246

		Luxembourg—0.7%
124,018		Oriflame Cosmetics S.A.		6,510,372

		Mexico—1.1%
182,000	¹	America Movil SAB de CV (ADR)		9,560,460

		Netherlands—5.2%
61,200		Akzo Nobel N.V.		4,911,601
176,800		ASML Holding N.V.		4,817,800
71,900		InBev N.V.		5,631,982
218,600		ING Groep N.V.		9,956,968
52,500		Rodamco Europe N.V.		7,731,600
193,700		SBM Offshore N.V.		6,940,456
222,220		Unilever N.V.		6,781,491

		Total Netherlands		46,771,898

		Norway—1.6%
437,500		Orkla ASA (Norway)		6,974,364
453,500		Storebrand ASA		7,678,268

		Total Norway		14,652,632

		Philippines—0.8%
128,500		Philippine Long Distance Telephone Co. (ADR)		6,863,185

		Singapore—2.9%
2,138,300		CapitaLand Ltd.		11,827,440
2,289,035		Singapore Telecommunications Ltd.		4,970,476
671,400		United Overseas Bank Ltd.		9,385,795

		Total Singapore		26,183,711

		South Africa—0.4%
578,600		Truworths Intl. Ltd.		3,198,108

See Notes to Financial Statements.

BlackRock World Investment Trust (BWC) (continued)

(Percentages shown are based on Net Assets)


Shares		Description		Value

		Spain—0.5%
162,700		Gestevision Telecinco S.A.	$	4,910,433

		Sweden—3.6%
317,100		Atlas Copco AB		12,037,558
339,200		Nordea Bank AB		5,865,359
244,900		Skanska AB, B Shares		5,665,867
93,463		SSAB Svenskt Stal AB (Sweden)		3,264,706
110,500		Svenska Cellulosa AB		5,683,107

		Total Sweden		32,516,597

		Switzerland—3.3%
34,500		Alcon, Inc.		4,655,085
16,500		Nestle S.A.		6,531,829
34,100		Roche Holding AG		6,421,273
33,600		Syngenta AG		6,674,670
90,800		UBS AG		5,900,993

		Total Switzerland		30,183,850

		Taiwan—0.8%
646,800		Taiwan Semiconductor Manufacturing Co. Ltd. (ADR)		6,817,272

		United Kingdom—8.6%
449,200		Arriva Plc		6,752,576
631,900		BAE Systems Plc		5,728,133
1,490,800		Cobham Plc		6,177,426
321,700		De La Rue Plc		4,550,682
360,500		Diageo Plc		7,599,309
423,900		Kelda Group Plc		7,843,266
2,000,000		Legal & General Group Plc		6,133,450
330,100		National Express Group Plc		8,021,143
250,000		Scottish & Southern Energy Plc		7,473,579
275,000		Smiths Group Plc		5,929,818
477,500		United Utilities Plc		7,117,506
163,800		Vodafone Group Plc (ADR)		4,705,974

		Total United Kingdom		78,032,862

		United States—33.9%
69,800	¹	A.G. Edwards, Inc.		5,057,010
80,900	¹	Abbott Laboratories		4,580,558
60,700	¹	Akamai Technologies, Inc.		2,675,656
477,200	¹	Alaska Communications Systems Group, Inc.		7,587,480
61,800		AllianceBernstein Holding LP		5,621,328
98,200	¹	Alltel Corp.		6,156,158
97,200		Altria Group, Inc.		6,699,024
48,100	¹	Apple, Inc.		4,800,380
187,100		Archer Daniels Midland Co.		7,240,770
180,900	¹	AT&T, Inc.		7,004,448
118,800	¹	Bank of America Corp.		6,046,920
162,900		Broadcom Corp.		5,302,395
148,000	¹	Chevron Corp.		11,512,920
163,200		Cisco Systems, Inc.		4,363,968
165,300	¹	Citigroup, Inc.		8,863,386
100,700		Colgate-Palmolive Co.		6,821,418
168,600	¹	ConocoPhillips		11,692,410
68,100		Constellation Energy Group, Inc.		6,069,072
194,500	¹	CVS/Caremark Corp.		7,048,680
59,400	¹	Dominion Resources, Inc.		5,417,280
31,300		Douglas Emmett, Inc. (REIT)		815,365
215,300		Eagle Bulk Shipping, Inc.		4,848,556


Shares		Description		Value

		United States—(cont’d)
158,800	¹	Exxon Mobil Corp.	$	12,605,544
95,400		General Mills, Inc.		5,714,460
10,700	¹	Google, Inc.		5,043,766
371,800	¹	Highland Hospitality Corp. (REIT)		7,082,790
112,400	¹	HJ Heinz Co.		5,295,164
48,800		Intl. Business Machines Corp.		4,987,848
95,700	¹	Johnson & Johnson		6,145,854
127,900		Kellogg Co.		6,767,189
141,300	¹	Loews Corp. - Carolina Group		10,813,689
173,900	¹	McDonald’s Corp.		8,395,892
151,500	¹	Merck & Co., Inc.		7,793,160
91,200		MGM Mirage		6,133,200
217,800	¹	Microsoft Corp.		6,520,932
180,000		Motorola, Inc.		3,119,400
105,600		Nike, Inc.		5,687,616
184,500		Pepco Holdings, Inc.		5,446,440
108,000		PepsiCo, Inc.		7,137,720
107,700		Procter & Gamble Co.		6,926,187
57,900		Public Service Enterprise Group, Inc.		5,005,455
102,200		Starwood Hotels & Resorts Worldwide, Inc.		6,849,444
76,700		Stryker Corp.		4,980,898
61,500		Sunoco, Inc.		4,645,095
58,900		Textron, Inc.		5,988,363
82,700	¹	Waters Corp.		4,914,861
296,900	¹	Windstream Corp.		4,340,678
105,700		Yum! Brands, Inc.		6,538,602
55,900		Zimmer Holdings, Inc.		5,057,833

		Total United States		306,163,262

		Total Common Stocks (cost $782,600,103)		898,503,642

		Preferred Stocks—1.3%
		Germany—0.7%
37,300		Henkel KGaA, 1.30%		5,884,196

		Italy—0.6%
1,515,800		Unipol S.p.A., 2.98%		5,622,315

		Total Preferred Stocks (cost $9,383,836)		11,506,511

		Total Long-Term Investments (cost $791,983,939)		910,010,153

		MONEY MARKET FUND—0.2%
1,762,354	¹	Fidelity Institutional Money Market Prime Portfolio, 4.97% (cost $1,762,354)		1,762,354

		Total Investments before outstanding options written (cost $793,746,293³)		911,772,507



Contracts

		OUTSTANDING OPTIONS WRITTEN—(2.2)%
		OUTSTANDING CALL OPTIONS WRITTEN—(2.2)%
(28,500	)	A.G. Edwards, Inc., strike price $67, expires 05/18/07		(164,878	)
(130	)	A.G. Edwards, Inc., strike price $75, expires 08/20/07		(37,700	)
(100	)	Abbott Laboratories, strike price $55, expires 05/21/07		(21,500	)

See Notes to Financial Statements.

BlackRock World Investment Trust (BWC) (continued)

(Percentages shown are based on Net Assets)


Contracts	Description		Value

	OUTSTANDING CALL OPTIONS WRITTEN—(cont’d)
(345)	Abbott Laboratories, strike price $56, expires 06/08/07	$	(64,075	)
(310)	Accenture Ltd., Class A, strike price $39, expires 05/30/07		(342	)
(380)	Accenture Ltd., Class A, strike price $39.75, expires 06/05/07		(32,629	)
(460)	AEM S.p.A., strike price 2.60 EUR, expires 05/18/07		(462,643	)
(215)	Akamai Technologies, Inc., strike price $55, expires 05/21/07		(1,075	)
(145)	Akamai Technologies, Inc., strike price $60, expires 05/21/07		(725	)
(88)	Akzo Nobel N.V., strike price 58 EUR, expires 05/18/07		(20,415	)
(250)	Akzo Nobel N.V., strike price 58 EUR, expires 07/20/07		(107,466	)
(131,300)	Alaska Communications Systems Group, Inc., strike price $15.98, expires 05/18/07		(46,622	)
(155,000)	Alaska Communications Systems Group, Inc., strike price $16, expires 06/18/07		(104,501	)
(95,500)	Alaska Communications Systems Group, Inc., strike price $16.98, expires 07/20/07		(48,705	)
(44)	Alcon, Inc., strike price $130, expires 05/21/07		(25,080	)
(133)	Alcon, Inc., strike price $135, expires 05/21/07		(28,595	)
(340)	AllianceBernstein Holding LP, strike price $95, expires 07/23/07		(66,300	)
(180)	Alltel Corp., strike price $65, expires 05/21/07		(18,900	)
(400)	Alltel Corp., strike price $65, expires 07/23/07		(88,000	)
(95)	Alstom S.A., strike price 90 EUR, expires 05/18/07		(262,005	)
(19,100)	Alstom S.A., strike price 96.31 EUR, expires 05/08/07		(359,423	)
(29,600)	Altria Group, Inc., strike price $70.45, expires 06/29/07		(34,085	)
(280)	Altria Group, Inc., strike price $70.50, expires 07/10/07		(42,724	)
(590)	America Movil SAB de CV (ADR), strike price $46.50, expires 05/24/07		(367,982	)
(500)	America Movil SAB de CV (ADR), strike price $50, expires 05/21/07		(142,500	)
(46)	Apple, Inc., strike price $100, expires 05/21/07		(9,200	)
(75)	Apple, Inc., strike price $100, expires 07/23/07		(47,250	)
(14,400)	Apple, Inc., strike price $92, expires 05/10/07		(116,027	)
(61,300)	Archer Daniels Midland Co., strike price $40, expires 05/15/07		(44,126	)
(385)	Archer Daniels Midland Co., strike price $40, expires 06/18/07		(48,125	)
(359,300)	Arriva Plc, strike price 7.74 GBP, expires 05/31/07		(77,129	)


Contracts	Description		Value

	OUTSTANDING CALL OPTIONS WRITTEN—(cont’d)
(310)	ASML Holding N.V., strike price $26, expires 05/15/07	$	(48,058	)
(665)	ASML Holding N.V., strike price $30, expires 07/23/07		(39,900	)
(398)	AT&T, Inc., strike price $38.50, expires 05/07/07		(18,222	)
(270)	AT&T, Inc., strike price $39, expires 06/08/07		(23,369	)
(9,200)	AT&T, Inc., strike price $40, expires 06/15/07		(4,686	)
(325)	AT&T, Inc., strike price $40, expires 07/23/07		(29,250	)
(49,000)	Atlas Copco AB, strike price 222.06 SEK, expires 05/08/07		(263,273	)
(53,500)	Atlas Copco AB, strike price 233.45 SEK, expires 05/31/07		(208,739	)
(72,000)	Atlas Copco AB, strike price 252.96 SEK, expires 06/12/07		(140,397	)
(340)	AXA S.A., strike price 32 EUR, expires 05/18/07		(98,828	)
(43,000)	AXA S.A., strike price 32.32 EUR, expires 05/31/07		(117,770	)
(25,000)	AXA S.A., strike price 34 EUR, expires 06/22/07		(41,758	)
(43,000)	BAE Systems Plc, strike price 4.65 GBP, expires 06/12/07		(11,820	)
(211,000)	BAE Systems Plc, strike price 4.66 GBP, expires 05/31/07		(44,316	)
(125)	BAE Systems Plc, strike price 460 GBP, expires 06/15/07		(43,118	)
(235)	Bank of America Corp., strike price $52.50, expires 05/21/07		(3,525	)
(41,800)	Bank of America Corp., strike price $53, expires 06/22/07		(10,899	)
(350)	Barrick Gold Corp., strike price 36 CAD, expires 05/21/07		(1,577	)
(14,000)	Bilfinger Berger AG, strike price 65.50 EUR, expires 05/08/07		(85,261	)
(26,000)	Bilfinger Berger AG, strike price 68.92 EUR, expires 05/31/07		(122,126	)
(250)	Broadcom Corp., strike price $35, expires 05/21/07		(5,000	)
(315)	Broadcom Corp., strike price $35.50, expires 05/25/07		(4,123	)
(250)	Broadcom Corp., strike price $37.50, expires 05/21/07		(2,000	)
(25,000)	Canadian Imperial Bank of Commerce, strike price 102.21 CAD, expires 06/15/07		(13,546	)
(23,000)	Canadian Imperial Bank of Commerce, strike price 104 CAD, expires 05/18/07		(377	)
(342,000)	CapitaLand Ltd., strike price 7.54 SGD, expires 05/29/07		(234,951	)
(834,000)	CapitaLand Ltd., strike price 8.68 SGD, expires 06/26/07		(267,506	)
(240)	Chevron Corp., strike price $70, expires 05/21/07		(194,400	)

See Notes to Financial Statements.

BlackRock World Investment Trust (BWC) (continued)

(Percentages shown are based on Net Assets)


Contracts	Description		Value

	OUTSTANDING CALL OPTIONS WRITTEN—(cont’d)
(500)	Chevron Corp., strike price $71.50, expires 05/30/07	$	(324,638	)
(75)	Chevron Corp., strike price $75, expires 06/18/07		(29,250	)
(13,800)	Cia Energetica de Minas Gerais (ADR), strike price $45.12, expires 05/18/07		(95,360	)
(32,100)	Cia Energetica de Minas Gerais (ADR), strike price $46.44, expires 06/15/07		(200,182	)
(310)	Cisco Systems, Inc., strike price $27, expires 05/10/07		(10,606	)
(180)	Cisco Systems, Inc., strike price $27.25, expires 05/30/07		(10,650	)
(400)	Cisco Systems, Inc., strike price $27.50, expires 07/23/07		(50,000	)
(360)	Citigroup, Inc., strike price $55, expires 06/18/07		(19,800	)
(26,700)	Citigroup, Inc., strike price $55, expires 06/29/07		(25,365	)
(360)	Citigroup, Inc., strike price $55, expires 07/06/07		(25,516	)
(745,400)	Cobham Plc, strike price 2.04 GBP, expires 05/31/07		(128,188	)
(149,000)	Cobham Plc, strike price 2.06 GBP, expires 05/08/07		(13,643	)
(465)	ConocoPhillips, strike price $70, expires 05/21/07		(51,150	)
(46,000)	ConocoPhillips, strike price $72, expires 06/15/07		(53,119	)
(190)	Constellation Energy Group, Inc., strike price $82, expires 05/07/07		(135,871	)
(185)	Constellation Energy Group, Inc., strike price $95, expires 07/23/07		(24,975	)
(69,000)	Credito Emiliano S.p.A., strike price 11.61 EUR, expires 05/08/07		(66,388	)
(154,000)	Credito Emiliano S.p.A., strike price 12.14 EUR, expires 05/31/07		(83,379	)
(65,800)	CVS/Caremark Corp., strike price $35.96, expires 06/15/07		(99,537	)
(250)	CVS/Caremark Corp., strike price $37.50, expires 06/18/07		(23,750	)
(44,000)	Daito Trust Construction Co. Ltd., strike price 5 JPY, expires 05/09/07		(102,788	)
(62,000)	Danske Bank A/S, strike price 258.56 DKK, expires 05/31/07		(53,864	)
(49,000)	Danske Bank A/S, strike price 259.66 DKK, expires 06/12/07		(47,102	)
(64,000)	De La Rue Plc, strike price 7.38 GBP, expires 05/08/07		(3,304	)
(128,700)	De La Rue Plc, strike price 7.53 GBP, expires 05/08/07		(2,260	)
(58)	Deutsche Bank AG, strike price 105 EUR, expires 05/18/07		(69,731	)
(14,000)	Deutsche Bank AG, strike price 105.01 EUR, expires 06/12/07		(177,854	)
(15,700)	Deutsche Bank AG, strike price 113.78 EUR, expires 06/28/07		(87,865	)


Contracts	Description		Value

	OUTSTANDING CALL OPTIONS WRITTEN—(cont’d)
(216,000)	Diageo Plc, strike price 10.18 GBP, expires 05/31/07	$	(214,298	)
(7,000)	Dominion Resources, Inc., strike price $86, expires 05/18/07		(38,763	)
(148)	Dominion Resources, Inc., strike price $90, expires 05/21/07		(34,780	)
(63)	E.ON AG, strike price 105 EUR, expires 05/18/07		(46,511	)
(185)	E.ON AG, strike price 110 EUR, expires 07/20/07		(93,158	)
(29)	Eagle Bulk Shipping, Inc., strike price $20, expires 06/18/07		(7,830	)
(51,500)	Eagle Bulk Shipping, Inc., strike price $21, expires 05/18/07		(79,904	)
(430)	Eagle Bulk Shipping, Inc., strike price $22.50, expires 06/18/07		(36,550	)
(250)	Enel S.p.A., strike price 5.30 EUR, expires 06/15/07		(15,745	)
(215)	Enel S.p.A., strike price 8.20 EUR, expires 05/18/07		(30,983	)
(167,000)	Eni S.p.A., strike price 24.35 EUR, expires 05/31/07		(106,496	)
(150,000)	Esprit Holdings Ltd., strike price 101.82 HKD, expires 06/26/07		(48,171	)
(61,300)	Esprit Holdings Ltd., strike price 89.99 HKD, expires 05/29/07		(54,107	)
(41,000)	Eurocastle Investment Ltd., strike price 40 EUR, expires 05/31/07		(25,925	)
(325)	Exxon Mobil Corp., strike price $75, expires 05/21/07		(234,000	)
(620)	Exxon Mobil Corp., strike price $80, expires 07/23/07		(164,300	)
(40,000)	Fondiaria-SAI S.p.A., strike price 34.39 EUR, expires 05/31/07		(262,210	)
(82,000)	Fortum Oyj, strike price 23.37 EUR, expires 05/31/07		(42,304	)
(630)	Gerdau S.A. (ADR), strike price $20, expires 06/18/07		(72,450	)
(530)	Gerdau S.A. (ADR), strike price $22.50, expires 06/18/07		(18,550	)
(180)	Gerdau S.A. (ADR), strike price $22.50, expires 09/24/07		(16,200	)
(81,000)	Gestevision Telecinco S.A., strike price 21.81 EUR, expires 05/31/07		(79,671	)
(36)	Google, Inc., strike price $500, expires 05/21/07		(5,220	)
(36)	Google, Inc., strike price $500, expires 06/18/07		(20,160	)
(50,000)	Hannover Rueckversicherung AG, strike price 34.44 EUR, expires 06/12/07		(237,379	)
(189)	Henkel KGaA, 1.30%, strike price 105 EUR, expires 05/18/07		(281,905	)
(39,700)	Highland Hospitality Corp. (REIT), strike price $17.39, expires 05/18/07		(66,739	)
(126,700)	Highland Hospitality Corp. (REIT), strike price $18.47, expires 06/15/07		(124,784	)

See Notes to Financial Statements.

BlackRock World Investment Trust (BWC) (continued)

(Percentages shown are based on Net Assets)


Contracts	Description		Value

	OUTSTANDING CALL OPTIONS WRITTEN—(cont’d)
(170)	HJ Heinz Co., strike price $45, expires 06/18/07	$	(49,300	)
(235)	HJ Heinz Co., strike price $46.25, expires 05/07/07		(23,960	)
(215)	HJ Heinz Co., strike price $48, expires 07/06/07		(22,575	)
(265,000)	Hong Kong Exchanges & Clearing Ltd., strike price 84 HKD, expires 06/26/07		(51,269	)
(430)	InBev N.V., strike price 55 EUR, expires 05/18/07		(168,998	)
(1,785,000)	Industrial & Commercial Bank of China, strike price 4.45 HKD, expires 06/26/07		(24,540	)
(1,150,000)	Industrial & Commercial Bank of China, strike price 4.56 HKD, expires 05/29/07		(4,696	)
(120,000)	ING Groep N.V., strike price 33.04 EUR, expires 06/12/07		(211,374	)
(50)	Intl. Business Machines Corp., strike price $100, expires 07/23/07		(24,500	)
(240)	Intl. Business Machines Corp., strike price $97, expires 05/25/07		(135,634	)
(300)	Johnson & Johnson, strike price $65, expires 05/21/07		(13,500	)
(230)	Johnson & Johnson, strike price $65, expires 07/23/07		(31,050	)
(13,000)	K&S AG, strike price 82.35 EUR, expires 05/08/07		(247,291	)
(26,000)	K&S AG, strike price 91.42 EUR, expires 06/12/07		(286,896	)
(255,000)	Kelda Group Plc, strike price 9.47 GBP, expires 05/31/07		(53,766	)
(300,000)	Legal & General Group Plc, strike price 1.51 GBP, expires 05/08/07		(27,026	)
(900,000)	Legal & General Group Plc, strike price 1.61 GBP, expires 05/31/07		(39,252	)
(230)	Linde AG, strike price 84 EUR, expires 07/20/07		(72,818	)
(99,600)	Lion Nathan Ltd., strike price 9.38 AUD, expires 05/29/07		(13,451	)
(471,000)	Lion Nathan Ltd., strike price 9.61 AUD, expires 06/26/07		(73,113	)
(23,600)	Loews Corp. - Carolina Group, strike price $73, expires 05/18/07		(90,698	)
(140)	Loews Corp. - Carolina Group, strike price $75, expires 06/18/07		(43,400	)
(215)	Loews Corp. - Carolina Group, strike price $78.50, expires 07/13/07		(55,202	)
(185)	Loews Corp. - Carolina Group, strike price $80, expires 06/18/07		(12,950	)
(350)	McDonald’s Corp., strike price $45, expires 06/18/07		(147,350	)
(520)	McDonald’s Corp., strike price $50, expires 06/18/07		(36,400	)
(225)	Merck & Co., Inc., strike price $45, expires 05/21/07		(148,500	)
(68,000)	Merck & Co., Inc., strike price $53.02, expires 06/29/07		(72,502	)


Contracts	Description		Value

	OUTSTANDING CALL OPTIONS WRITTEN—(cont’d)
(330)	MGM Mirage, strike price $75, expires 05/21/07	$	(9,900	)
(300)	MGM Mirage, strike price $75, expires 06/18/07		(22,500	)
(43,000)	Microsoft Corp., strike price $29.38, expires 06/15/07		(49,797	)
(870)	Microsoft Corp., strike price $30, expires 07/23/07		(100,050	)
(80,000)	Milano Assicurazioni S.p.A., strike price 6.43 EUR, expires 05/08/07		(83,952	)
(213,000)	Milano Assicurazioni S.p.A., strike price 6.79 EUR, expires 06/12/07		(131,958	)
(440)	Mizuho Financial Group, Inc., strike price 837 JPY, expires 05/09/07		—
(360)	Motorola, Inc., strike price $19, expires 05/21/07		(3,600	)
(360)	Motorola, Inc., strike price $19, expires 07/23/07		(12,600	)
(270)	Motorola, Inc., strike price $20, expires 07/23/07		(8,100	)
(68,000)	National Express Group Plc, strike price 11.82 GBP, expires 05/08/07		(71,933	)
(130,000)	National Express Group Plc, strike price 12.66 GBP, expires 05/31/07		(48,552	)
(10,700)	Nestle S.A., strike price 485.91 CHF, expires 06/12/07		(66,030	)
(234,200)	New World Development Ltd., strike price 18.58 HKD, expires 05/29/07		(23,583	)
(1,160,000)	New World Development Ltd., strike price 19.04 HKD, expires 06/26/07		(135,880	)
(100)	Nike, Inc., strike price $55, expires 05/19/07		(5,500	)
(150)	Nike, Inc., strike price $55, expires 07/23/07		(26,250	)
(38,000)	Nike, Inc., strike price $55.12, expires 06/29/07		(44,432	)
(8,200)	Nintendo Co. Ltd., strike price 34 JPY, expires 06/05/07		(229,050	)
(195)	Nippon Commercial Investment Corp. (REIT), strike price 623 JPY, expires 06/05/07		(45,291	)
(101,800)	Nordea Bank AB, strike price 112.51 SEK, expires 05/31/07		(79,917	)
(61,200)	Oriflame Cosmetics S.A., strike price 348.49 SEK, expires 06/29/07		(201,805	)
(3,800)	ORIX Corp., strike price 32 JPY, expires 06/05/07		(24,662	)
(10,000)	ORIX Corp., strike price 33 JPY, expires 05/09/07		(6,985	)
(170,000)	Orkla ASA, strike price 431.53 NOK, expires 05/31/07		(266,544	)
(90,000)	Orkla ASA, strike price 84.70 NOK, expires 05/08/07		(169,059	)
(67,700)	Partner Communications (ADR), strike price $14.30, expires 05/18/07		(143,508	)
(153,000)	Partner Communications (ADR), strike price $17.75, expires 07/20/07		(58,227	)

See Notes to Financial Statements.

BlackRock World Investment Trust (BWC) (continued)

(Percentages shown are based on Net Assets)


Contracts	Description		Value

	OUTSTANDING CALL OPTIONS WRITTEN—(cont’d)
(370)	Pepco Holdings, Inc., strike price $30, expires 05/21/07	$	(18,500	)
(555)	Pepco Holdings, Inc., strike price $30, expires 08/20/07		(55,500	)
(430)	PepsiCo, Inc., strike price $65, expires 05/21/07		(67,940	)
(215)	PepsiCo, Inc., strike price $65, expires 07/23/07		(55,900	)
(215)	PetroChina Co. Ltd. (ADR), strike price $115, expires 06/18/07		(73,100	)
(320)	PetroChina Co. Ltd. (ADR), strike price $125, expires 06/18/07		(28,800	)
(170)	Petroleo Brasileiro S.A. (ADR), strike price $110, expires 06/18/07		(34,000	)
(150)	Petroleo Brasileiro S.A. (ADR), strike price $95, expires 05/21/07		(108,000	)
(25,700)	Philippine Long Distance Telephone Co. (ADR), strike price $51.67, expires 05/18/07		(71,092	)
(450)	Philippine Long Distance Telephone Co. (ADR), strike price $55, expires 06/18/07		(99,000	)
(37,000)	Piraeus Bank S.A., strike price 24.75 EUR, expires 05/08/07		(101,065	)
(75,400)	Piraeus Bank S.A., strike price 26.98 EUR, expires 05/31/07		(65,218	)
(120)	Potash Corp. of Saskatchewan, strike price $165, expires 05/21/07		(194,400	)
(95)	Potash Corp. of Saskatchewan, strike price $175, expires 06/18/07		(114,000	)
(360)	Procter & Gamble Co., strike price $65, expires 06/18/07		(50,040	)
(240)	Public Service Enterprise Group, Inc., strike price $77, expires 05/07/07		(227,316	)
(70)	Public Service Enterprise Group, Inc., strike price $80, expires 06/18/07		(53,900	)
(39,200)	Publishing & Broadcasting Ltd., strike price 19.54 AUD, expires 05/29/07		(35,966	)
(105,000)	Publishing & Broadcasting Ltd., strike price 20.39 AUD, expires 06/26/07		(64,874	)
(32,500)	QBE Insurance Group Ltd., strike price 31 AUD, expires 05/29/07		(16,537	)
(145,000)	QBE Insurance Group Ltd., strike price 33.37 AUD, expires 06/26/07		(31,286	)
(20,000)	Roche Holding AG, strike price 224 CHF, expires 05/31/07		(119,027	)
(315)	Rodamco Europe N.V., strike price 106 EUR, expires 06/15/07		(225,679	)
(16,000)	RWE AG, strike price 82.85 EUR, expires 06/12/07		(14,469	)
(134)	RWE AG, strike price 86 EUR, expires 06/15/07		(5,303	)
(38,000)	SBM Offshore N.V., strike price 26.89 EUR, expires 05/08/07		(9,048	)
(68,000)	SBM Offshore N.V., strike price 27.40 EUR, expires 06/22/07		(48,549	)
(20,000)	Schneider Electric S.A., strike price 92.50 EUR, expires 06/15/07		(327,068	)


Contracts	Description		Value

	OUTSTANDING CALL OPTIONS WRITTEN—(cont’d)
(50,000)	Scottish & Southern Energy Plc, strike price 15.14 GBP, expires 05/08/07	$	(20,367	)
(100,000)	Scottish & Southern Energy Plc, strike price 15.26 GBP, expires 05/31/07		(80,881	)
(202)	Siemens AG, strike price 92 EUR, expires 06/15/07		(55,407	)
(1,030,000)	Singapore Telecommunications Ltd., strike price 3.54 SGD, expires 06/26/07		(65,451	)
(147,000)	Skanska AB, B Shares, strike price 154.22 SEK, expires 06/12/07		(156,470	)
(165,000)	Smiths Group Plc, strike price 10.28 GBP, expires 05/31/07		(211,417	)
(29,500)	Societe Generale, strike price 158.49 EUR, expires 06/22/07		(225,961	)
(2,034,000)	SP AusNet, strike price 1.42 AUD, expires 06/26/07		(117,173	)
(408,000)	SP AusNet, strike price 1.46 AUD, expires 05/29/07		(12,816	)
(63,000)	SSAB Svenskt Stal AB, Ser. A, strike price 214.55 SEK, expires 05/31/07		(261,512	)
(7,000)	SSAB Svenskt Stal AB, Ser. A, strike price 223.89 SEK, expires 06/12/07		(21,842	)
(197,000)	St. George Bank Ltd., strike price 35.17 AUD, expires 06/26/07		(248,649	)
(70)	Starwood Hotels & Resorts Worldwide, Inc., strike price $70, expires 05/21/07		(3,850	)
(300)	Starwood Hotels & Resorts Worldwide, Inc., strike price $70, expires 06/18/07		(45,000	)
(362,000)	Storebrand ASA, strike price 106.02 NOK, expires 06/12/07		(169,630	)
(31,000)	Stryker Corp., strike price $67.51, expires 05/18/07		(11,848	)
(150)	Stryker Corp., strike price $70, expires 06/18/07		(6,000	)
(300)	Sumitomo Mitsui Financial Group, Inc., strike price 1 JPY, expires 05/09/07		(310	)
(310)	Sunoco, Inc., strike price $74, expires 05/30/07		(114,406	)
(29,000)	Svenska Cellulosa AB, strike price 375.50 SEK, expires 05/08/07		(170	)
(36,800)	Svenska Cellulosa AB, strike price 384.94 SEK, expires 06/12/07		(6,573	)
(13,400)	Syngenta AG, strike price 240.18 CHF, expires 06/12/07		(102,105	)
(975)	Taiwan Semiconductor Manufacturing Co. Ltd. (ADR), strike price $10.75, expires 07/12/07		(24,375	)
(226,400)	Taiwan Semiconductor Manufacturing Co. Ltd. (ADR), strike price $11.40, expires 05/18/07		(6,966	)
(64,000)	Taiwan Semiconductor Manufacturing Co. Ltd. (ADR), strike price $11.70, expires 06/15/07		(2,058	)
(31,500)	Teck Cominco Ltd., Class B, strike price 45 CAD, expires 07/20/07		(73,410	)

See Notes to Financial Statements.

BlackRock World Investment Trust (BWC) (continued)

(Percentages shown are based on Net Assets)


Contracts	Description		Value

	OUTSTANDING CALL OPTIONS WRITTEN—(cont’d)
(180)	Teck Cominco Ltd., Class B, strike price 47.50 CAD, expires 05/21/07	$	(1,622	)
(695)	TELUS Corp., strike price 60 CAD, expires 05/21/07		(140,891	)
(250)	TELUS Corp., strike price 64 CAD, expires 08/18/07		(56,311	)
(19,000)	Textron, Inc., strike price $101.61, expires 06/29/07		(78,139	)
(90)	Textron, Inc., strike price $95, expires 06/18/07		(75,600	)
(178,000)	Truworths Intl. Ltd., strike price 37.44 ZAR, expires 06/12/07		(74,291	)
(104,000)	Truworths Intl. Ltd., strike price 37.83 ZAR, expires 06/06/07		(37,650	)
(55,000)	UBS AG, strike price 72.78 CHF, expires 05/31/07		(302,479	)
(391,000)	Unicredito Italiano S.p.A., strike price 7.39 EUR, expires 05/08/07		(120,322	)
(133,000)	Unilever N.V., strike price 21.63 EUR, expires 05/31/07		(206,411	)
(382,000)	Unipol S.p.A., 2.98%, strike price 2.61 EUR, expires 05/08/07		(66,825	)
(527,000)	Unipol S.p.A., 2.98%, strike price 2.77 EUR, expires 05/31/07		(32,413	)
(72,300)	United Overseas Bank Ltd., strike price 21.22 SGD, expires 05/29/07		(35,741	)
(331,000)	United Overseas Bank Ltd., strike price 23.37 SGD, expires 06/26/07		(61,823	)
(382,000)	United Utilities Plc, strike price 7.55 GBP, expires 05/31/07		(98,357	)
(445)	Vodafone Group Plc (ADR), strike price $27.50, expires 05/21/07		(68,975	)
(180)	Vodafone Group Plc (ADR), strike price $28.50, expires 06/22/07		(15,388	)
(275)	Vodafone Group Plc (ADR), strike price $30, expires 07/23/07		(13,750	)
(75,000)	Wartsila Oyj, B Shares, strike price 46.32 EUR, expires 05/31/07		(384,437	)
(495)	Waters Corp., strike price $60, expires 05/19/07		(47,025	)
(87,500)	Windstream Corp., strike price $15, expires 05/25/07		(12,130	)
(750)	Windstream Corp., strike price $15, expires 06/18/07		(26,250	)
(315)	Yum! Brands, Inc., strike price $63, expires 06/22/07		(43,801	)
(215)	Yum! Brands, Inc., strike price $65, expires 07/23/07		(27,950	)
(105)	Zimmer Holdings, Inc., strike price $90, expires 05/21/07		(17,850	)
(185)	Zimmer Holdings, Inc., strike price $90, expires 06/18/07		(57,350	)

	Total Outstanding Call Options Written (premium received $(12,250,350))		(20,160,431	)


Contracts	Description		Value

	OUTSTANDING PUT OPTION WRITTEN—0.0%
(178,000)	Verigy Ltd., strike price $23.75, expires 05/18/07 (premium received $(97,900))	$	(89,607	)

	Total Outstanding Options Written (premium received $(12,348,250))		(20,250,038	)

	Total Investments net of outstanding options written—98.8%	$	891,522,469
	Other assets in excess of liabilities—1.2%		11,096,962

	Net Assets—100.0%	$	902,619,431



¹	Security, or a portion thereof, pledged as collateral for outstanding options written.
²	Represents current yield as of April 30, 2007.
³	Cost for federal income tax purposes is $796,160,295. The net unrealized appreciation on a tax basis is $115,612,211, consisting of $122,267,595 gross unrealized appreciation and $6,655,384 gross unrealized depreciation.


KEY TO ABBREVIATIONS
ADR	—	American Depositary Receipt
AUD	—	Australian Dollar
CAD	—	Canadian Dollar
CHF	—	Swiss Franc
DKK	—	Danish Krone
EUR	—	Euro
GBP	—	British Pound
HKD	—	Hong Kong Dollar
JPY	—	Japanese Yen
NOK	—	Norwegian Krone
REIT	—	Real Estate Investment Trust
SEK	—	Swedish Krona
SGD	—	Singapore Dollar
ZAR	—	South African Rand

See Notes to Financial Statements.

STATEMENTS OF ASSETS AND LIABILITIES (unaudited)
April 30, 2007


	Dividend Achievers^TMTrust (BDV)			Enhanced Dividend Achievers^TMTrust (BDJ)			Strategic Dividend Achievers^TMTrust (BDT)			Global Energy and Resources Trust (BGR)

Assets
Investments at value, unaffiliated¹	$	897,467,803		$	1,068,871,891		$	449,837,970		$	979,596,097
Investments in affiliates		62,423			22,980			40,809			36,923
Cash		—			—			—			—
Foreign currency at value²		—			—			—			1,253,622
Receivable for investments sold		—			4,887,953			—			12,006,159
Variation margin receivable		—			—			—			—
Dividend and interest receivable		2,250,889			2,540,402			762,756			2,065,071
Other assets		16,226			26,799			6,660			156,825

		899,797,341			1,076,350,025			450,648,195			995,114,697


Liabilities
Payable to custodian		—			1,168,420			—			—
Payable for investments purchased		—			12,077,883			—			4,158,924
Outstanding options written at value³		—			11,831,153			—			7,936,569
Variation margin payable		—			—			—			—
Unrealized loss on forward currency contracts		—			—			—			—
Investment advisory fee payable		473,272			853,501			276,409			940,946
Deferred Trustees’ fees		62,423			22,980			40,809			36,923
Licensing fee payable		290,953			341,655			147,676			—
Payable to affiliates		40,459			32,004			50,345			52,817
Other accrued expenses		272,401			483,838			197,348			256,913

		1,139,508			26,811,434			712,587			13,383,092

Net Assets	$	898,657,833		$	1,049,538,591		$	449,935,608		$	981,731,605

Composition of Net Assets
Par value ($0.001 per share)	$	54,518		$	69,778		$	26,908		$	29,766
Paid-in capital in excess of par		744,951,784			998,186,688			376,494,750			709,335,050
Undistributed (distributions in excess) of net investment income		(11,237,098	)		(13,245,684	)		(5,213,353	)		(17,483,619	)
Accumulated net realized gain		15,169,030			21,306,111			108,600			55,941,836
Net unrealized appreciation		149,719,599			43,221,698			78,518,703			233,908,572

Net Assets, April 30, 2007	$	898,657,833		$	1,049,538,591		$	449,935,608		$	981,731,605

Net asset value per share⁴	$	16.48		$	15.04		$	16.72		$	32.98

¹ Investments at cost, unaffiliated	$	747,748,204		$	1,024,053,822		$	371,319,267		$	742,197,128
² Foreign currency at cost		—			—			—			1,253,420
³ Premiums received		—			10,234,782			—			4,401,401
⁴ Shares outstanding		54,518,315			69,778,138			26,908,028			29,766,217

See Notes to Financial Statements.


	Global Equity Income Trust (BFD)		Global Opportunities Equity Trust (BOE)			Health Sciences Trust (BME)			Real Asset Equity Trust (BCF)			S&P Quality Rankings Global Equity Managed Trust (BQY)			World Investment Trust (BWC)

Assets
Investments at value, unaffiliated¹	$	755,387,076	$	362,466,280		$	230,143,115		$	975,645,474		$	122,000,840		$	911,772,507
Investments in affiliates		—		16,025			9,426			8,059			8,277			13,413
Cash		23,777		446,960			—			—			—			19
Foreign currency at value²		40,036,428		2,486,461			159,658			7,372,566			1,123,726			5,912,701
Receivable for investments sold		—		4,079,641			217,038			6,795,441			—			6,208,536
Variation margin receivable		114,458		—			—			—			—			—
Dividend and interest receivable		1,421,725		1,001,625			86,203			1,487,427			273,724			2,784,775
Other assets		—		311			4,755			165,957			—			9,701

		796,983,464		370,497,303			230,620,195			991,474,924			123,406,567			926,701,652


Liabilities
Payable to custodian		—		—			—			1,005,899			—			—
Payable for investments purchased		121,439		1,102,334			13,367,035			9,668,477			—			2,789,084
Outstanding options written at value³		8,928,520		7,757,353			1,719,238			11,478,264			—			20,250,038
Variation margin payable		326,154		—			—			—			—			—
Unrealized loss on forward currency contracts		—		—			1,131			—			—			—
Investment advisory fee payable		641,786		292,395			174,362			947,359			74,438			732,426
Deferred Trustees’ fees		—		16,025			9,426			8,059			8,277			13,413
Licensing fee payable		—		—			—			—			178,161			—
Payable to affiliates		3,323		21,253			9,360			8,119			9,848			13,051
Other accrued expenses		135,712		170,954			65,893			211,273			86,207			284,209

		10,156,934		9,360,314			15,346,445			23,327,450			356,931			24,082,221

Net Assets	$	786,826,530	$	361,136,989		$	215,273,750		$	968,147,474		$	123,049,636		$	902,619,431

Composition of Net Assets
Par value ($0.001 per share)	$	40,006	$	12,534		$	7,574		$	56,708		$	6,033		$	52,075
Paid-in capital in excess of par		762,521,044		299,105,417			180,667,837			811,015,946			86,100,387			745,055,617
Undistributed (distributions in excess) of net investment income		2,340,719		(13,984,477	)		(10,758,256	)		(22,031,934	)		(1,198,565	)		(50,800,912	)
Accumulated net realized gain		286,569		35,138,632			20,982,009			31,778,467			734,405			98,137,916
Net unrealized appreciation		21,638,192		40,864,883			24,374,586			147,328,287			37,407,376			110,174,735

Net Assets, April 30, 2007	$	786,826,530	$	361,136,989		$	215,273,750		$	968,147,474		$	123,049,636		$	902,619,431

Net asset value per share⁴	$	19.67	$	28.81		$	28.42		$	17.07		$	20.40		$	17.33

¹ Investments at cost, unaffiliated	$	730,224,188	$	318,808,936		$	205,051,266		$	825,968,231		$	84,595,513		$	793,746,293
² Foreign currency at cost		39,475,546		2,470,924			157,406			7,231,337			1,124,293			5,879,724
³ Premiums received		4,245,248		4,938,253			998,442			8,978,077			—			12,348,250
⁴ Shares outstanding		40,006,021		12,534,148			7,574,390			56,708,028			6,033,028			52,074,804

STATEMENTS OF OPERATIONS (unaudited)

For the period ended¹April 30, 2007


	Dividend Achievers^TMTrust (BDV)			Enhanced Dividend Achievers^TMTrust (BDJ)			Strategic Dividend Achievers^TMTrust (BDT)			Global Energy and Resources Trust (BGR)

Investment Income
Dividend income	$	15,849,301		$	18,896,454		$	7,731,743		$	11,957,478
Interest income		187,746			1,250,792			98,430			589,325
Income from affiliates		2,157			551			1,069			927
Foreign taxes withheld		(1,600	)		—			(9,440	)		(726,992	)

Total investment income		16,037,604			20,147,797			7,821,802			11,820,738


Expenses
Investment advisory		2,844,286			5,147,808			1,662,255			5,319,520
Transfer agent		14,899			15,031			9,899			11,138
Custodian		65,962			124,702			39,196			90,325
Reports to shareholders		79,396			81,722			43,624			57,712
Trustees		21,670			22,069			15,297			21,635
Registration		19,477			15,971			8,125			10,206
Independent accountants		24,592			28,898			22,935			38,607
Legal		51,191			54,308			34,135			52,489
Officers fees		6,639			8,103			3,411			7,238
Insurance		28,004			44,631			14,145			25,899
Deferred trustees’ fees		2,157			551			1,069			927
Organization		—			—			—			—
License fee		437,583			514,781			221,634			—
Miscellaneous		31,517			33,206			24,197			35,605

Total expenses		3,627,373			6,091,781			2,099,922			5,671,301
Less Advisory fees waived		—			—			—			(886,587	)
Less fees paid indirectly		(13	)		(4,814	)		(74	)		(659	)

Net expenses		3,627,360			6,086,967			2,099,848			4,784,055

Net investment income		12,410,244			14,060,830			5,721,954			7,036,683


Realized and Unrealized Gain (Loss)
Net realized gain (loss) from:
Investments		15,169,030			22,864,368			109,248			26,189,169
Foreign currency		—			—			—			7,416
Futures		—			—			—			—
Options written		—			13,731,829			—			8,903,535

		15,169,030			36,596,197			109,248			35,100,120

Net change in unrealized appreciation/depreciation on:
Investments		25,909,152			4,124,653			22,275,336			95,286,547
Foreign currency		—			—			—			37,706
Futures		—			—			—			—
Options written		—			(1,117,394	)		—			(6,508,547	)

		25,909,152			3,007,259			22,275,336			88,815,706

Net gain		41,078,182			39,603,456			22,384,584			123,915,826


Net Increase in Net Assets Resulting from Operation	$	53,488,426		$	53,664,286		$	28,106,538		$	130,952,509



¹	Commencement of operations for Global Equity Income Trust (BFD) was March 30, 2007. This information includes the initial investment by BlackRock Funding, Inc. The other Trusts’ statements are for a full year.

See Notes to Financial Statements.




	Global Equity Income Trust (BFD)			Global Opportunities Equity Trust (BOE)			Health Sciences Trust (BME)			Real Asset Equity Trust (BCF)			S&P Quality Rankings Global Equity Managed Trust (BQY)			World Investment Trust (BWC)

Investment Income
Dividend income	$	2,846,396		$	5,379,605		$	887,149		$	7,713,096		$	2,081,502		$	11,359,839
Interest income		622,799			220,757			555,848			3,671,664			13,910			693,728
Income from affiliates		—			369			459			153			482			752
Foreign taxes withheld		(305,870	)		(318,570	)		(27,569	)		(114,763	)		(90,572	)		(748,360	)

Total investment income		3,163,325			5,282,161			1,415,887			11,270,150			2,005,322			11,305,959


Expenses
Investment advisory		683,571			1,694,918			1,037,220			4,616,922			431,554			4,300,278
Transfer agent		1,787			9,923			9,922			9,806			9,899			18,887
Custodian		22,373			116,953			39,915			123,706			39,046			129,434
Reports to shareholders		57,375			22,514			12,534			47,842			12,363			74,152
Trustees		7,076			9,873			7,054			19,269			4,277			38,920
Registration		2,752			9,398			7,056			15,155			794			3,704
Independent accountants		6,630			25,956			22,325			22,860			20,937			62,998
Legal		5,570			25,336			20,305			49,737			9,569			138,434
Officers fees		6,793			2,617			1,689			5,835			852			6,793
Insurance		8,536			9,910			6,561			32,233			3,316			16,238
Deferred trustees’ fees		—			369			459			153			482			752
Organization		15,000			—			—			—			—			—
License fee		—			—			—			—			86,311			—
Miscellaneous		5,143			11,860			10,005			19,096			10,646			29,522

Total expenses		822,606			1,939,627			1,175,045			4,962,614			630,046			4,820,112
Less Advisory fees waived		—			—			—			(177,574	)		—			—
Less fees paid indirectly		—			(1,737	)		(1,914	)		(975	)		(18	)		(2,213	)

Net expenses		822,606			1,937,890			1,173,131			4,784,065			630,028			4,817,899

Net investment income		2,340,719			3,344,271			242,756			6,486,085			1,375,294			6,488,060


Realized and Unrealized Gain (Loss)
Net realized gain (loss) from:
Investments		(18,925	)		27,431,544			11,407,938			17,234,070			933,290			57,782,442
Foreign currency		1,081,998			95,487			4,555			212,867			14,006			(58,055	)
Futures		1,315,490			—			—			—			—			—
Options written		(2,091,994	)		1,766,274			2,514,175			14,198,212			—			8,961,895

		286,569			29,293,305			13,926,668			31,645,149			947,296			66,686,282

Net change in unrealized appreciation/depreciation on:
Investments		25,162,888			10,136,753			3,244,464			96,189,145			11,516,570			34,862,145
Foreign currency		565,590			(21,781	)		3,375			128,273			134			17,530
Futures		592,985			—			—			—			—			—
Options written		(4,683,271	)		549,667			(1,171,646	)		(1,597,769	)		—			(1,526,184	)

		21,638,192			10,664,639			2,076,193			94,719,649			11,516,704			33,353,491

Net gain		21,924,761			39,957,944			16,002,861			126,364,798			12,464,000			100,039,773


Net Increase in Net Assets Resulting from Operation	$	24,265,480		$	43,302,215		$	16,245,617		$	132,850,883		$	13,839,294		$	106,527,833

STATEMENTS OF CHANGES IN NET ASSETS

For the period ended April 30, 2007 (unaudited) and the year ended October 31, 2006


	Dividend Achievers ^TMTrust (BDV)						Enhanced Dividend Achievers^TMTrust (BDJ)						Strategic Dividend Achievers^TM Trust (BDT)

	2007			2006			2007			2006			2007			2006

Net Increase in Net Assets

Operations:
Net investment income	$	12,410,244		$	23,566,389		$	14,060,830		$	27,052,655		$	5,721,954		$	10,732,790
Net realized gain		15,169,030			16,975,443			36,596,197			54,038,012			109,248			14,048,250
Net change in unrealized appreciation/depreciation		25,909,152			103,536,421			3,007,259			63,471,457			22,275,336			26,008,232

Net increase in net assets resulting from operations		53,488,426			144,078,253			53,664,286			144,562,124			28,106,538			50,789,272


Dividends and Distributions from:
Net investment income²		(24,533,243	)		(22,570,718	)		(42,545,352	)		(10,706,985	)		(12,108,615	)		(9,419,016	)
Net realized gain		—			(17,516,869	)		—			(73,809,323	)		—			(14,798,212	)
Tax return of capital		—			(8,978,900	)		—			—			—			—

Total dividends and distributions		(24,533,243	)		(49,066,487	)		(42,545,352	)		(84,516,308	)		(12,108,615	)		(24,217,228	)


Capital Share Transactions:
Net proceeds from the issuance of shares		—			—			—			—			—			—
Net proceeds from the underwriters’ over allotment option exercised		—			—			—			—			—			—
Reinvestment of distributions		—			—			5,292,836			4,835,662			—			—

Net proceeds from capital share transactions		—			—			5,292,836			4,835,662			—			—

Total increase		28,955,183			95,011,766			16,411,770			64,881,478			15,997,923			26,572,044


Net Assets:
Beginning of period		869,702,650			774,690,884			1,033,126,821			968,245,343			433,937,685			407,365,641

End of period	$	898,657,833		$	869,702,650		$	1,049,538,591		$	1,033,126,821		$	449,935,608		$	433,937,685

End of period undistributed (distributions in excess of) net investment income	$	(11,237,098	)	$	885,901		$	(13,245,684	)	$	15,238,838		$	(5,213,353	)	$	1,173,308



¹	Commencement of investment operations for Global Equity Income Trust (BFD) and Real Asset Equity Trust (BCF) were March 30, 2007 and September 29, 2006, respectively. This information includes the initial investment by BlackRock Funding, Inc. The other Trusts’ statements are for the six months ended April 30, 2007 and the full year ended October 31, 2006.
²	A portion of the dividends from net investment income for the six months ended April 30, 2007 may be deemed a tax return of capital or net realized gain at fiscal year end.

See Notes to Financial Statements.


	Global Energy and Resources Trust (BGR)						Global Equity Income Trust (BFD)		Global Opportunities Equity Trust (BOE)

	2007			2006			2007¹		2007			2006

Net Increase in Net Assets

Operations:
Net investment income	$	7,036,683		$	21,964,532		$	2,340,719	$	3,344,271		$	7,702,654
Net realized gain		35,100,120			70,119,457			286,569		29,293,305			25,569,877
Net change in unrealized appreciation/depreciation		88,815,706			38,734,819			21,638,192		10,664,639			31,487,087

Net increase in net assets resulting from operations		130,952,509			130,818,808			24,265,480		43,302,215			64,759,618


Dividends and Distributions from:
Net investment income²		(32,324,653	)		(14,526,650	)		—		(17,172,978	)		(7,361,682	)
Net realized gain		—			(70,112,103	)		—		—			(20,795,839	)
Tax return of capital		—			—			—		—			—

Total dividends and distributions		(32,324,653	)		(84,638,753	)		—		(17,172,978	)		(28,157,521	)


Capital Share Transactions:
Net proceeds from the issuance of shares		—			—			762,561,050		—			—
Net proceeds from the underwriters’ over allotment option exercised		—			—			—		—			—
Reinvestment of distributions		—			—			—		3,263,566			947,061

Net proceeds from capital share transactions		—			—			762,561,050		3,263,566			947,061

Total increase		98,627,856			46,180,055			786,826,530		29,392,803			37,549,158


Net Assets:
Beginning of period		883,103,749			836,923,694			—		331,744,186			294,195,028

End of period	$	981,731,605		$	883,103,749		$	786,826,530	$	361,136,989		$	331,744,186


End of period undistributed (distributions in excess of) net investment income	$	(17,483,619	)	$	7,804,351		$	2,340,719	$	(13,984,477	)	$	(155,770	)


	Health Sciences Trust (BME)						Real Asset Equity Trust (BCF)

	2007			2006			2007			2006¹

Net Increase in Net Assets

Operations:
Net investment income	$	242,756		$	(227,560	)	$	6,486,085		$	1,873,481
Net realized gain		13,926,668			20,676,079			31,645,149			553,302
Net change in unrealized appreciation/depreciation		2,076,193			4,130,694			94,719,649			52,608,638

Net increase in net assets resulting from operations		16,245,617			24,579,213			132,850,883			55,035,421


Dividends and Distributions from:
Net investment income²		(10,996,070	)		—			(30,826,484	)		—
Net realized gain		—			(14,432,701	)		—			—
Tax return of capital		—			—			—			—

Total dividends and distributions		(10,996,070	)		(14,432,701	)		(30,826,484	)		—


Capital Share Transactions:
Net proceeds from the issuance of shares		—			—			—			765,247,654
Net proceeds from the underwriters’ over allotment option exercised		—			—			45,840,000			—
Reinvestment of distributions		1,872,905			—			—			—

Net proceeds from capital share transactions		1,872,905			—			45,840,000			765,247,654

Total increase		7,122,452			10,146,512			147,864,399			820,283,075


Net Assets:
Beginning of period		208,151,298			198,004,786			820,283,075			—

End of period	$	215,273,750		$	208,151,298		$	968,147,474		$	820,283,075


End of period undistributed (distributions in excess of) net investment income	$	(10,758,256	)	$	(4,942	)	$	(22,031,934	)	$	2,308,465

STATEMENTS OF CHANGES IN NET ASSETS (continued)
For the six months ended April 30, 2007 (unaudited) and the year ended October 31, 2006


	S&P Quality Rankings Global Equity Managed Trust (BQY)						World Investment Trust (BWC)

	2007			2006			2007			2006

Net Increase in Net Assets

Operations:
Net investment income	$	1,375,294		$	2,516,366		$	6,488,060		$	16,529,596
Net realized gain		947,296			1,922,416			66,686,282			77,969,300
Net change in unrealized appreciation		11,516,704			17,346,666			33,353,491			71,385,346

Net increase in net assets resulting from operations		13,839,294			21,785,448			106,527,833			165,884,242


Dividends and Distributions from:
Net investment income¹		(2,714,865	)		(2,926,375	)		(55,507,461	)		(17,424,000	)
Net realized gain		—			(3,335,638	)		—			(47,551,119	)

Total dividends and distributions		(2,714,865	)		(6,262,013	)		(55,507,461	)		(64,975,119	)


Capital Share Transactions:
Net proceeds from underwriters over-allotment option exercised		—			—			—			75,020,025
Reinvestment of distributions		—			—			1,652,473			1,036,697

Net proceeds from capital share transactions		—			—			1,652,473			76,056,722

Total increase		11,124,429			15,523,435			52,672,845			176,965,845


Net Assets:
Beginning of period		111,925,207			96,401,772			849,946,586			672,980,741

End of period	$	123,049,636		$	111,925,207		$	902,619,431		$	849,946,586

End of period undistributed (distributions in excess of) net investment income	$	(1,198,565	)	$	141,006		$	(50,800,912	)	$	(1,781,511	)


¹	A portion of the dividends from net investment income for the six months ended April 30, 2007 may be deemed a tax return of capital or net realized gain at fiscal year end.

FINANCIAL HIGHLIGHTS

BlackRock Dividend Achievers^TMTrust (BDV)


	Six Months Ended April 30, 2007 (unaudited)				Year Ended October 31								For the Period December 23, 2003¹through October 31, 2004

					2006				2005

PER SHARE OPERATING PERFORMANCE:
Net asset value, beginning of period	$	15.95			$	14.21			$	14.67			$	14.33		²

Investment operations:
Net investment income			0.24				0.42				0.43				0.37
Net realized and unrealized gain			0.74				2.21				0.01				0.66

Net increase from investment operations			0.98				2.63				0.44				1.03

Dividends and distributions from:
Net investment income			(0.45	)³			(0.41	)			(0.43	)			(0.38	)
Net realized gains			—				(0.32	)			(0.28	)			—
Tax return of capital			—				(0.16	)			(0.19	)			(0.29	)

Total dividends and distributions			(0.45	)			(0.89	)			(0.90	)			(0.67	)

Capital charges with respect to issuance of shares			—				—				—				(0.02	)

Net asset value, end of period	$	16.48			$	15.95			$	14.21			$	14.67

Market price, end of period	$	15.27			$	14.86			$	12.77			$	14.98


TOTAL INVESTMENT RETURN⁴
At net asset value⁵			6.41	%			19.89	%			3.11	%			7.28	%

At market value			5.83	%			24.31	%			(9.25	) %			4.62	%

RATIOS TO AVERAGE NET ASSETS:
Total expenses			0.83	%⁶			0.84	%			0.84	%			0.83	%⁶
Net expenses			0.83	%⁶			0.84	%			0.84	%			0.83	%⁶
Net investment income			2.84	%⁶			2.90	%			2.93	%			3.00	%⁶

SUPPLEMENTAL DATA:
Average net assets (000)	$	882,418			$	812,789			$	805,289			$	777,731
Portfolio turnover			12	%			11	%			27	%			6	%
Net assets, end of period (000)	$	898,658			$	869,703			$	774,691			$	800,020


¹	Commencement of investment operations. This information includes the initial investment by BlackRock Funding, Inc.
²	Net asset value, beginning of period, reflects a deduction of $0.675 per share sales charge from the initial offering price of $15.00 per share.
³	A portion of the dividends from net investment income may be deemed a tax return of capital or net realized gain at fiscal year end.
⁴	Total investment returns at market price, which can be significantly greater or lesser than the net asset value, may result in substantially different returns. Total investment returns exclude the effects of brokerage commissions. Total investment returns for less than a full year are not annualized.
⁵	Unaudited.
⁶	Annualized.

The information in the above Financial Highlights represents the operating performance for a share outstanding, total investment returns, ratios to average net assets and other supplemental data for each period indicated. This information has been determined based upon financial information provided in the financial statements and market price data for the Trust’s shares.

See Notes to Financial Statements.

FINANCIAL HIGHLIGHTS

BlackRock Enhanced Dividend Achievers^TMTrust (BDJ)


	Six Months Ended April 30, 2007 (unaudited)			Year Ended October 31, 2006			For the Period August 31, 2005¹through October 31, 2005

PER SHARE OPERATING PERFORMANCE:
Net asset value, beginning of period	$	14.88		$	14.01		$	14.33	²

Investment operations:
Net investment income		0.31			0.37			0.06
Net realized and unrealized gain (loss)		0.46			1.71			(0.26	)

Net increase (decrease) from investment operations		0.77			2.08			(0.20	)

Dividends and distributions from:
Net investment income		(0.61	)³		(0.15	)		(0.06	)
Net realized gains		—			(1.06	)		(0.04	)

Total dividends and distributions		(0.61	)		(1.21	)		(0.10	)

Capital charges with respect to issuance of shares		—			—			(0.02	)

Net asset value, end of period	$	15.04		$	14.88		$	14.01

Market price, end of period	$	15.00		$	14.92		$	13.79


TOTAL INVESTMENT RETURN⁴
At net asset value⁵		5.31	%		15.72	%		(1.42	)%

At market value		4.75	%		17.97	%		(7.40	)%


RATIOS TO AVERAGE NET ASSETS:
Total expenses		1.18	%⁶		1.19	%		1.25	%⁶
Net expenses		1.18	%⁶		1.19	%		1.25	%⁶
Net investment income		2.73	%⁶		2.73	%		2.44	%⁶

SUPPLEMENTAL DATA:
Average net assets (000)	$	1,038,094		$	989,585		$	953,303
Portfolio turnover		73	%		138	%		5	%
Net assets, end of period (000)	$	1,049,539		$	1,033,127		$	968,245


¹	Commencement of investment operations. This information includes the initial investment by BlackRock Funding, Inc.
²	Net asset value, beginning of period, reflects a deduction of $0.675 per share sales charge from the initial offering price of $15.00 per share.
³	A portion of the dividends from net investment income may be deemed a tax return of capital or net realized gain at fiscal year end.
⁴	Total investment returns at market price, which can be significantly greater or lesser than the net asset value, may result in substantially different returns. Total investment returns exclude the effects of brokerage commissions. Total investment returns for less than a full year are not annualized.
⁵	Unaudited.
⁶	Annualized.

See Notes to Financial Statements.

FINANCIAL HIGHLIGHTS

BlackRock Strategic Dividend Achievers^TMTrust (BDT)


	Six Months Ended April 30, 2007 (unaudited)
				Year Ended October 31							For the Period March 30, 2004¹through October 31, 2004
				Year Ended October 31

				2006			2005

PER SHARE OPERATING PERFORMANCE:
Net asset value, beginning of period	$	16.13		$	15.14		$	14.96		$	14.33	²

Investment operations:
Net investment income		0.23			0.37			0.46			0.18
Net realized and unrealized gain		0.81			1.52			0.62			0.92

Net increase from investment operations		1.04			1.89			1.08			1.10

Dividends and distributions from:
Net investment income		(0.45	)³		(0.35	)		(0.46	)		(0.17	)
Net realized gain		—			(0.55	)		(0.42	)		—
Tax return of capital		—			—			(0.02	)		(0.28	)

Total dividends and distributions		(0.45	)		(0.90	)		(0.90	)		(0.45	)

Capital charges with respect to issuance of shares		—			—			—			(0.02	)

Net asset value, end of period	$	16.72		$	16.13		$	15.14		$	14.96

Market price, end of period	$	15.66		$	14.53		$	13.20		$	14.54


TOTAL INVESTMENT RETURNS:⁴
At net asset value⁵		6.72	%		13.65	%		7.62	%		7.75	%

At market value		10.96	%		17.43	%		(3.46	)%		0.01	%


RATIOS TO AVERAGE NET ASSETS:
Total expenses		0.95	%⁶		0.96	%		0.96	%		0.99	%⁶
Net expenses		0.95	%⁶		0.96	%		0.96	%		0.99	%⁶
Net investment income		2.58	%⁶		2.57	%		3.01	%		2.18	%⁶

SUPPLEMENTAL DATA:
Average net assets (000)	$	446,942		$	417,199		$	410,719		$	377,074
Portfolio turnover		—	%		18	%		24	%		1	%
Net assets, end of period (000)	$	449,936		$	433,938		$	407,366		$	402,570


¹	Commencement of investment operations. This information includes the initial investment by BlackRock Funding, Inc.
²	Net asset value, beginning of period, reflects a deduction of $0.675 per share sales charge from the initial offering price of $15.00 per share.
³	A portion of the dividends from net investment income may be deemed a tax return of capital or net realized gain at fiscal year end.
⁴	Total investment returns at market price, which can be significantly greater or lesser than the net asset value, may result in substantially different returns. Total investment returns exclude the effects of brokerage commissions. Total investment returns for less than a full year are not annualized.
⁵	Unaudited.
⁶	Annualized.

See Notes to Financial Statements.

FINANCIAL HIGHLIGHTS

BlackRock Global Energy and Resources Trust (BGR)

Six Months Ended
April 30,
2007
(unaudited)

Year Ended
October 31,
2006

For the Period
December 29, 2004¹through
October 31, 2005

PER SHARE OPERATING PERFORMANCE:

Net asset value, beginning of period

$

29.67

$

28.12

$

23.88

²

Investment operations:

Net investment income

0.37

0.75

0.56

Net realized and unrealized gain

4.03

3.65

4.85

Net increase from investment operations

4.40

4.40

5.41

Dividends and distributions from:

Net investment income

(1.09

)³

(0.49

)

(0.54

)

Net realized gains

—

(2.36

)

(0.59

)

Total dividends and distributions

(1.09

)

(2.85

)

(1.13

)

Capital charges with respect to issuance of shares

—

—

(0.04

)

Net asset value, end of period

$

32.98

$

29.67

$

28.12

Market price, end of period

$

30.24

$

26.73

$

25.16

TOTAL INVESTMENT RETURN⁴

At net asset value⁵

15.61

%

17.30

%

22.99

%

At market value

17.66

%

18.11

%

5.10

%

RATIOS TO AVERAGE NET ASSETS:

Total expenses

1.28

%⁶

1.28

%

1.30

%⁶

Net expenses

1.08

%⁶

1.08

%

1.10

%⁶

Net investment income before

1.59

%⁶

2.47

%

2.59

%⁶

SUPPLEMENTAL DATA:

Average net assets (000)

$

893,934

$

889,944

$

770,023

Portfolio turnover

21

%

40

%

64

%

Net assets, end of period (000)

$

981,732

$

883,104

$

836,924

¹

Commencement of investment operations. This information includes the initial investment by BlackRock Funding, Inc.

²

Net asset value, beginning of period, reflects a deduction of $1.12 per share sales charge from the initial offering price of $25.00 per share.

³

A portion of the dividends from net investment income may be deemed a tax return of capital or net realized gain at fiscal year end.

⁴

Total investment returns at market price, which can be significantly greater or lesser than the net asset value, may result in substantially different returns. Total investment returns exclude the effects of brokerage commissions. Total investment returns for less than a full year are not annualized.

⁵

Unaudited.

⁶

Annualized.

See Notes to Financial Statements.

FINANCIAL HIGHLIGHTS

BlackRock Global Equity Income Trust (BFD)

For the Period
March 30, 2007¹through
April 30, 2007
(unaudited)

PER SHARE OPERATING PERFORMANCE:

Net asset value, beginning of period

$

19.10

²

Investment operations:

Net investment income

0.02

Net realized and unrealized gain

0.57

Net increase from investment operations

0.59

Capital charges with respect to issuance of shares

(0.02

)

Net asset value, end of period

$

19.67

Market price, end of period

$

20.05

TOTAL INVESTMENT RETURN³

At net asset value

2.98

%

At market value

0.25

%

RATIOS TO AVERAGE NET ASSETS:⁴

Total expenses

1.20

%

Net expenses

1.20

%

Net investment income

3.42

%

SUPPLEMENTAL DATA:

Average net assets (000)

$

779,698

Portfolio turnover

1

%

Net assets, end of period (000)

$

786,827

¹

Commencement of investment operations. This information includes the initial investment by BlackRock Funding, Inc.

²

Net asset value, beginning of period, reflects a deduction of $0.8975 per share sales charge from the initial offering price of $20.00 per share.

³

Total investment returns at market price, which can be significantly greater or lesser than the net asset value, may result in substantially different returns. Total investment returns exclude the effects of brokerage commissions. Total investment returns for less than a full year are not annualized.

⁴

Annualized.

See Notes to Financial Statements.

FINANCIAL HIGHLIGHTS

BlackRock Global Opportunities Equity Trust (BOE)

Six Months Ended
April 30,
2007
(unaudited)

Year Ended
October 31,
2006

For the Period
May 31, 2005¹through
October 31, 2005

PER SHARE OPERATING PERFORMANCE:

Net asset value, beginning of period

$

26.72

$

23.77

$

23.88

²

Investment operations:

Net investment income

0.27

0.58

0.37

Net realized and unrealized gain

3.20

4.64

0.13

Net increase from investment operations

3.47

5.22

0.50

Dividends and distributions from:

Net investment income

(1.38

)³

(0.59

)

(0.23

)

Net realized gains

—

(1.68

)

(0.33

)

Total dividends and distributions

(1.38

)

(2.27

)

(0.56

)

Capital charges with respect to issuance of shares

—

—

(0.05

)

Net asset value, end of period

$

28.81

$

26.72

$

23.77

Market price, end of period

$

29.10

$

27.61

$

23.88

TOTAL INVESTMENT RETURNS:⁴

At net asset value⁵

13.40

%

24.48

%

0.81

%

At market value

10.85

%

26.64

%

(2.21

)%

RATIOS TO AVERAGE NET ASSETS:

Total expenses

1.14

%⁶

1.16

%

1.19

%⁶

Net expenses

1.14

%⁶

1.16

%

1.19

%⁶

Net investment income

1.97

%⁶

2.45

%

3.66

%⁶

SUPPLEMENTAL DATA:

Average net assets (000)

$

341,793

$

314,884

$

294,175

Portfolio turnover

88

%

184

%

55

%

Net assets, end of period (000)

$

361,137

$

331,744

$

294,195

¹

Commencement of investment operations. This information includes the initial investment by BlackRock Funding, Inc.

²

Net asset value, beginning of period, reflects a deduction of $1.12 per share sales charge from the initial offering price of $25.00 per share.

³

A portion of the dividends from net investment income may be deemed a tax return of capital or net realized gain at fiscal year end.

⁴

Total investment returns at market price, which can be significantly greater or lesser than the net asset value, may result in substantially different returns. Total investment returns exclude the effects of brokerage commissions. Total investment returns for less than a full year are not annualized.

⁵

Unaudited.

⁶

Annualized.

See Notes to Financial Statements.

FINANCIAL HIGHLIGHTS

BlackRock Health Sciences Trust (BME)

Six Months Ended
April 30,
2007
(unaudited)

Year Ended
October 31,
2006

For the Period
March 31, 2005¹through
October 31, 2005

PER SHARE OPERATING PERFORMANCE:

Net asset value, beginning of period

$

27.74

$

26.38

$

23.88

²

Investment operations:

Net investment income (loss)

0.04

—

³

(0.03

)

Net realized and unrealized gain

2.10

3.28

3.34

Net increase from investment operations

2.14

3.28

3.31

Dividends and distributions from:

Net investment income

(1.46

)⁴

—

—

Net realized gains

—

(1.92

)

(0.77

)

Total dividends and distributions

(1.46

)

(1.92

)

(0.77

)

Capital charges with respect to issuance of shares

—

—

(0.04

)

Net asset value, end of period

$

28.42

$

27.74

$

26.38

Market price, end of period

$

27.84

$

27.32

$

25.19

TOTAL INVESTMENT RETURNS:⁵

At net asset value⁶

8.18

%

13.00

%

13.88

%

At market value

7.60

%

16.59

%

3.81

%

RATIOS TO AVERAGE NET ASSETS:

Total expenses

1.13

%⁷

1.15

%

1.18

%⁷

Net expenses

1.13

%⁷

1.15

%

1.18

%⁷

Net investment income (loss)

0.23

%⁷

(0.11

)%

(0.19

)%⁷

SUPPLEMENTAL DATA:

Average net assets (000)

$

209,163

$

206,098

$

192,836

Portfolio turnover

57

%

181

%

104

%

Net assets, end of period (000)

$

215,274

$

208,151

$

198,005

¹

Commencement of investment operations. This information includes the initial investment by BlackRock Funding, Inc.

²

Net asset value, beginning of period, reflects a deduction of $1.12 per share sales charge from the initial offering price of $25.00 per share.

³

Amounted to less than $0.01 per common share outstanding.

⁴

A portion of the dividends from net investment income may be deemed a tax return of capital or net realized gain at fiscal year end.

⁵

Total investment returns at market price, which can be significantly greater or lesser than the net asset value, may result in substantially different returns. Total investment returns exclude the effects of brokerage commissions. Total investment returns for less than a full year are not annualized.

⁶

Unaudited.

⁷

Annualized.

See Notes to Financial Statements.

FINANCIAL HIGHLIGHTS

BlackRock Real Asset Equity Trust (BCF)

Six Months Ended
April 30,
2007
(unaudited)

For the Period
September 29, 2006¹through
October 31, 2006

PER SHARE OPERATING PERFORMANCE:

Net asset value, beginning of period

$

15.33

$

14.33

²

Investment operations:

Net investment income

0.13

0.04

Net realized and unrealized gain

2.15

0.98

Net increase from investment operations

2.28

1.02

Dividends from net investment income

(0.54

)³

—

Capital charges with respect to issuance of shares

—

(0.02

)

Net asset value, end of period

$

17.07

$

15.33

Market price, end of period

$

15.70

$

15.00

TOTAL INVESTMENT RETURNS:⁴

At net asset value⁵

15.43

%

6.98

%

At market value

8.50

%

—

%

RATIOS TO AVERAGE NET ASSETS:⁶

Total expenses

1.12

%

1.42

%

Net expenses

1.08

%

1.22

%

Net investment income

1.46

%

2.63

%

SUPPLEMENTAL DATA:

Average net assets (000)

$

895,228

$

787,768

Portfolio turnover

37

%

—

%

Net assets, end of period (000)

$

968,147

$

820,283

¹

Commencement of investment operations. This information includes the initial investment by BlackRock Funding, Inc.

²

Net asset value, beginning of period, reflects a deduction of $0.675 per share sales charge from the initial offering price of $15.00 per share.

³

A portion of the dividends from net investment income may be deemed a tax return of capital or net realized gain at fiscal year end.

⁴

Total investment returns at market price, which can be significantly greater or lesser than the net asset value, may result in substantially different returns. Total investment returns exclude the effects of brokerage commissions. Total investment returns for less than a full year are not annualized.

⁵

Unaudited.

⁶

Annualized.

See Notes to Financial Statements.

FINANCIAL HIGHLIGHTS

BlackRock S&P Quality Rankings Global Equity Managed Trust (BQY)

Six Months
Ended
April 30,
2007
(unaudited)

For the Period
May 28, 2004¹
through
October 31, 2004

Year Ended
October 31

2006

2005

PER SHARE OPERATING PERFORMANCE:

Net asset value, beginning of period

$

18.55

$

15.98

$

15.29

$

14.33

²

Investment operations:

Net investment income

0.24

0.39

0.56

0.21

Net realized and unrealized gain

2.06

3.22

0.88

0.96

Net increase from investment operations

2.30

3.61

1.44

1.17

Dividends and distributions from:

Net investment income

(0.45

)³

(0.49

)

(0.37

)

(0.17

)

Net realized gains

—

(0.55

)

(0.38

)

—

Tax return of capital

—

—

⁴

—

(0.02

)

Total dividends and distributions

(0.45

)

(1.04

)

(0.75

)

(0.19

)

Capital charges with respect to issuance of shares

—

—

—

(0.02

)

Net asset value, end of period

$

20.40

$

18.55

$

15.98

$

15.29

Market price, end of period

$

18.68

$

16.36

$

14.54

$

13.80

TOTAL INVESTMENT RETURNS:⁵

At net asset value⁶

12.88

%

24.34

%

10.08

%

8.13

%

At market value

17.20

%

20.52

%

10.97

%

(6.80

)%

RATIOS TO AVERAGE NET ASSETS:

Total expenses

1.10

%⁷

1.13

%

1.14

%

1.23

%⁷

Net expenses

1.09

%⁷

1.13

%

1.14

%

1.23

%⁷

Net investment income

2.39

%⁷

2.45

%

3.35

%

3.27

%⁷

SUPPLEMENTAL DATA:

Average net assets (000)

$

116,035

$

102,587

$

96,697

$

87,094

Portfolio turnover

3

%

10

%

38

%

4

%

Net assets, end of period (000)

$

123,050

$

111,925

$

96,402

$

92,243

¹

Commencement of investment operations. This information includes the initial investment by BlackRock Funding, Inc.

²

Net asset value, beginning of period, reflects a deduction of $0.675 per share sales charge from the initial offering price of $15.00 per share.

³

A portion of the dividends from net investment income may be deemed a tax return of capital or net realized gain at fiscal year end.

⁴

Amounted to less than $0.01 per share outstanding.

⁵

Total investment returns at market price, which can be significantly greater or lesser than the net asset value, may result in substantially different returns. Total investment returns exclude the effects of brokerage commissions. Total investment returns for less than a full year are not annualized.

⁶

Unaudited.

⁷

Annualized.

See Notes to Financial Statements.

FINANCIAL HIGHLIGHTS

BlackRock World Investment Trust (BWC)

Six Months Ended
April 30,
2007
(unaudited)

Year Ended
October 31,
2006

For the Period
October 27, 2005¹through
October 31, 2005

PER SHARE OPERATING PERFORMANCE:

Net asset value, beginning of period

$

16.35

$

14.42

$

14.33

²

Investment operations:

Net investment income

0.11

0.30

—

Net realized and unrealized gain

1.94

2.88

0.11

Net increase from investment operations

2.05

3.18

0.11

Dividends and distributions from:

Net investment income

(1.07

)³

(0.34

)

—

Net realized gains

—

(0.91

)

—

Total dividends and distributions

(1.07

)

(1.25

)

—

Capital charges with respect to issuance of shares

—

—

(0.02

)

Net asset value, end of period

$

17.33

$

16.35

$

14.42

Market price, end of period

$

17.39

$

16.59

$

15.08

TOTAL INVESTMENT RETURNS:⁴

At net asset value⁵

12.98

%

22.47

%

0.80

%

At market value

11.67

%

18.99

%

0.53

%

RATIOS TO AVERAGE NET ASSETS:

Total expenses

1.12

%⁶

1.10

%

1.23

%⁶

Net expenses

1.12

%⁶

1.10

%

1.23

%⁶

Net investment income

1.51

%⁶

2.04

%

2.59

%⁶

SUPPLEMENTAL DATA:

Average net assets (000)

$

867,183

$

808,627

$

667,368

Portfolio turnover

86

%

153

%

—

%

Net assets, end of period (000)

$

902,619

$

849,947

$

672,981

¹

Commencement of investment operations. This information includes the initial investment by BlackRock Funding, Inc.

²

Net asset value, beginning of period, reflects a deduction of $0.675 per share sales charge from the initial offering price of $15.00 per share.

³

A portion of the dividends from net investment income may be deemed a tax return of capital or net realized gain at fiscal year end.

⁴

Total investment returns at market price, which can be significantly greater or lesser than the net asset value, may result in substantially different returns. Total investment returns exclude the effects of brokerage commissions. Total investment returns for less than a full year are not annualized.

⁵

Unaudited.

⁶

Annualized.

See Notes to Financial Statements.

NOTES TO FINANCIAL STATEMENTS

Note 1. Organization & Accounting Policies

BlackRock Dividend Achievers^TMTrust (“Dividend Achievers”), BlackRock Enhanced Dividend Achievers^TMTrust (“Enhanced Dividend Achievers”), BlackRock Strategic Dividend AchieversTM Trust (“Strategic Dividend Achievers”), BlackRock Global Energy and Resources Trust (“Global Energy and Resources”), BlackRock Global Opportunities Equity Trust (“Global Opportunities”), BlackRock Health Sciences Trust (“Health Sciences”), BlackRock Real Asset Equity Trust (“Real Asset”), BlackRock S&P Quality Rankings Global Equity Managed Trust (“S&P Quality Rankings”) and BlackRock World Investment Trust (“World Investment”) (collectively, the “Trusts”) are organized as Delaware statutory trusts. All Trusts, except Global Energy and Resources, Global Equity Income, Health Sciences and Real Asset, are registered as diversified, closed-end management investment companies under the Investment Company Act of 1940, as amended (the “1940 Act”). Global Energy and Resources, Global Equity Income, Health Sciences and Real Asset are registered as non-diversified, closed-end management investment companies under the 1940 Act.

Real Asset was organized on July 19, 2006, and had no transactions until August 23, 2006, when the Trust sold 8,028 common shares for $115,001 to BlackRock Funding, Inc. Investment operations for Real Asset commenced on September 29, 2006. The Trust incurred organization costs which were deferred from the organization date until the commencement of operations.

Global Equity Income was organized on January 10, 2007, and had no transactions until February 22, 2007 when the Trust sold 6,021 common shares for $115,001 to BlackRock Funding, Inc. Investment operations for Global Equity Income commenced on March 30, 2007. The Trust incurred organization costs which were deferred from the organization date until the commencement of operations.

Under the Trusts’ organizational documents, their officers and Trustees (as defined below) are indemnified against certain liabilities arising out of the performance of their duties to the Trusts. In addition, in the normal course of business, the Trusts enter into contracts with their vendors and others that provide for general indemnifications. The Trusts’ maximum exposure under these arrangements are unknown as this would involve future claims that may be made against the Trusts. However, based on experience, the Trusts consider the risk of loss from such claims to be remote.

The following is a summary of significant accounting policies followed by the Trusts.

Investment Valuation: The Trusts value most of their investments on the basis of current market quotations provided by dealers or pricing services selected under the supervision of each Trust’s Board of Trustees (the “Board”). In determining the value of a particular investment, pricing services may use certain information with respect to transactions in such investments, quotations from dealers, market transactions in comparable investments, various relationships observed in the market between investments, and calculated yield measures based on valuation technology commonly employed in the market for such investments. Exchange-traded options are valued at their last sales price as of the close of options trading on applicable exchanges. In the absence of a last sale, options are valued at the average of the quoted bid and asked prices as of the close of business. Over-the-counter (“OTC”) options quotations are provided by dealers selected under the supervision of the Board. Considerations utilized by dealers in valuing OTC options include, but are not limited to, volatility factors of the underlying security, price movement of the underlying security in relation to the strike price and the time left until expiration of the option. Investments in open-end investment companies are valued at net asset value. Short-term debt investments having a remaining maturity of 60 days or less when purchased and debt investments originally purchased with maturities in excess of 60 days but which currently have maturities of 60 days or less may be valued at amortized cost. Any investments or other assets for which current market quotations are not readily available are valued at their fair value (“Fair Value Assets”) as determined in good faith under procedures established by and under the general supervision and responsibility of the Trust’s Board. The investment advisor and/or sub-advisor will submit its recommendations regarding the valuation and/or valuation methodologies for Fair Value Assets to a valuation committee. The valuation committee may accept, modify or reject any recommendations. The pricing of all Fair Value Assets shall be subsequently reported to the Board.

When determining the price for a Fair Value Asset, the investment advisor and/or sub-advisor shall seek to determine the price that the Trust might reasonably expect to receive from the current sale of that asset in an arm’s-length transaction. Fair value determinations shall be based upon all available factors that BlackRock Advisors deems relevant.

In September 2006, Statement of Financial Accounting Standards No. 157, “Fair Value Measurements” (“FAS 157”), was issued and is effective for fiscal years beginning after November 15, 2007. FAS 157 defines fair value, establishes a framework for measuring fair value and expands disclosures about fair value measurements. At this time, management is evaluating the implications for FAS 157 and its impact on the Trust’s financial statements, if any, has not been determined.

In addition, in February 2007, Statement of Financial Accounting Standard No. 159, “The Fair Value Option for Financial Assets and Financial Liabilities” (“FAS 159”), was issued and is effective for fiscal years beginning after November 15, 2007. Early adoption is permitted as of the beginning of a fiscal year that begins on or before November 15, 2007, provided the entity also elects to apply the provisions of FAS 157. FAS 159 permits entities to choose to measure many financial instruments and certain other items at fair value that are not currently required to be measured as fair value. FAS 159 also establishes presentation and disclosure requirements designed to facilitate comparisons between entities that choose different measurement attributes for similiar types of assets and liabilities. At this time, management is evaluating the implications of FAS 159 and its impact on the Trusts’ financial statements, if any, has not been determined.

Investment Transactions and Investment Income: Investment transactions are recorded on the trade date. The cost of investments sold and the related gain or loss is determined by the use of the specific identified method, generally high cost, for both financial reporting and federal income tax purposes. Interest income is recorded on the accrual basis. Dividend income is recorded on the ex-dividend date, except certain

dividends from foreign securities where the ex-dividend date may have passed. These dividends are recorded as soon as the Trusts are informed of the ex-dividend date. Dividend income on foreign securities is recorded net of any applicable withholding tax.

Forward Currency Contracts: Certain Trusts may enter into forward currency contracts primarily to facilitate settlement of purchases and sales of foreign securities and to help manage the overall exposure to foreign currency. A forward contract is a commitment to purchase or sell a foreign currency at a future date (usually the security transaction settlement date) at a negotiated forward rate. In the event that a security fails to settle within the normal settlement period, the forward currency contract is renegotiated at a new rate. The gain or loss arising from the difference between the settlement value of the original and renegotiated forward contracts is isolated and is included in net realized gains (losses) from foreign currency transactions. Risks may arise as a result of the potential inability of the counterparties to meet the terms of their contract.

Forward currency contracts, when used by the Trusts, help to manage the overall exposure to the foreign currency backing some of the investments held by the Trusts. Forward currency contracts are not meant to be used to eliminate all of the exposure to the foreign currency, rather they allow the Trusts to limit their exposure to foreign currency within a narrow band consistent with the objectives of the Trusts.

Foreign Currency Translation: Foreign currency amounts are translated into United States dollars on the following basis:


(i)	market value of investment securities, other assets and liabilities at the current rate of exchange; and

(ii)	purchases and sales of investment securities, income and expenses at the relevant rates of exchange prevailing on the respective dates of such transactions.

The Trusts do not isolate that portion of the results of operations arising as a result of changes in the foreign exchange rates from the fluctuations arising from changes in the market prices of securities held at period end. The Trusts report forward foreign currency related transactions as components of realized gains for financial reporting purposes, whereas such components are treated as ordinary income for federal income tax purposes.

Net realized and unrealized foreign exchange gains and losses includes realized foreign exchange gains and losses from sales and maturities of foreign portfolio securities, sales of foreign currencies, currency gains or losses realized between the trade and settlement dates on securities transactions, the difference between the amounts of interest and discount recorded on the Trusts’ books and the U.S. dollar equivalent amounts actually received or paid, and changes in unrealized foreign exchange gains and losses in the value of portfolio securities and other assets and liabilities arising as a result of changes in the exchange rate.

Foreign security and currency transactions may involve certain considerations and risks not typically associated with those of domestic origin, including unanticipated movements in the value of the foreign currency relative to the U.S. dollar.

Option Writing/Purchasing: When a Trust writes or purchases an option, an amount equal to the premium received or paid by the Trust is recorded as a liability or an asset and is subsequently adjusted to the current market value of the option written or purchased. Premiums received or paid from writing or purchasing options which expire unexercised are treated by the Trust on the expiration date as realized gains or losses. The difference between the premium and the amount paid or received on effecting a closing purchase or sale transaction, including brokerage commissions, is also treated as a realized gain or loss. If an option is exercised, the premium paid or received is added to the cost of the purchase or the proceeds from the sale in determining whether a Trust has realized a gain or a loss on investment transactions. A Trust, as writer of an option, may have no control over whether the underlying securities may be sold (call) or purchased (put) and as a result bears the market risk of an unfavorable change in the price of the security underlying the written option.

A call option gives the purchaser of the option the right (but not the obligation) to buy, and obligates the seller to sell (when the option is exercised), the underlying position at the exercise price at any time or a specified time during the option period. A put option gives the holder the right to sell and obligates the writer to buy the underlying position at the exercise price at any time or at a specified time during the option period.

The main risk that is associated with purchasing options is that the option expires without being exercised. In this case, the option expires worthless and the premium paid for the option is considered the loss. The risk associated with writing call options is that a Trust may forgo the opportunity for a profit if the market value of the underlying position increases and the option is exercised. The risk in writing put options is that a Trust may incur a loss if the market value of the underlying position decreases and the option is exercised. In addition, the Trust risks not being able to enter into a closing transaction for the written option as a result of an illiquid market.

Certain Trusts may invest in over-the-counter (“OTC”) options. OTC options differ from exchange-listed options in that they are two-party contracts, with exercise price, premium and other terms negotiated between buyer and seller, and generally do not have as much market liquidity as exchange-listed options. The counterparties to these transactions typically will be major international banks, broker-dealers and financial institutions. The Trusts may be required to restrict the sale of securities being used to cover certain written OTC options. The OTC options written by the Trust will not be issued, guaranteed or cleared by the Options Clearing Corporation. In addition, the Trusts’ ability to terminate the OTC options may be more limited than with exchange-traded options. Banks, broker-dealers or other financial institutions participating in such transaction may fail to settle a transaction in accordance with the terms of the option as written. In the event of default or insolvency of the counterparty, the Trusts may be unable to liquidate an OTC option position.

Financial Futures Contracts: A financial futures contract is an agreement between two parties to buy and sell a financial instrument for a set price on a future date. Initial margin deposits are made upon entering into futures contracts and can be either cash or securities. During the period the futures contract is open, changes in the value of the contract are recognized as unrealized gains or losses by “marking-to-market” on a daily basis to reflect the market value of the contract at the end of each day’s trading. Variation margin payments are made or received,

depending upon whether unrealized gains or losses are incurred. When the contract is closed, a Trust records a realized gain or loss equal to the difference between the proceeds from (or cost of) the closing transaction and a Trust’s basis in the contract.

Financial futures contracts, when used by a Trust, help in maintaining a targeted duration. Financial futures contracts can be sold to effectively shorten an otherwise longer duration portfolio. In the same sense, futures contracts can be purchased to lengthen a portfolio that is shorter than its duration target. Thus, by buying or selling futures contracts, a Trust may attempt to manage the duration of positions so that changes in interest rates do not change the duration of the portfolio unexpectedly.

Segregation: In cases in which the 1940 Act and the interpretive positions of the Securities and Exchange Commission (the “Commission”) require a Trust to segregate assets in connection with certain investments (e.g., call options written), each Trust will, consistent with certain interpretive letters issued by the Commission, designate on its books and records cash or liquid securities having a market value at least equal to the amount that would otherwise be required to be physically segregated.

Federal Income Taxes: It is each Trust’s intention to continue to be treated as a regulated investment company under the Internal Revenue Code and to distribute sufficient net income and net realized gains, if any, to shareholders. Therefore, no federal income tax provisions have been recorded.

In July 2006, the Financial Accounting Standards Board released FASB Interpretation No. 48 (“FIN 48”), “Accounting for Uncertainty in Income Taxes”. FIN 48 provides guidance for how uncertain tax positions should be recognized, measured, presented and disclosed in the financial statements. FIN 48 requires the evaluation of tax positions taken in the course of preparing the Trust’s tax returns to determine whether the tax positions are “more-likely-than-not” of being sustained by the applicable tax authority. Tax benefits of positions not deemed to meet the more-likely-than-not threshold would be booked as a tax expense in the current year and recognized as: a liability for unrecognized tax benefits; a reduction of an income tax refund receivable; a reduction of deferred tax asset; an increase in deferred tax liability; or a combination thereof. Adoption of FIN 48 is required for the last net asset value calculation in the first required financial statement reporting period for fiscal years beginning after December 15, 2006. At this time, management is evaluating the implications of FIN 48 and its impact on the Trusts’ financial statements has not yet been determined.

Dividends and Distributions: All Trusts except Enhanced Dividend Achievers^TM, Real Asset and World Investment declare and pay dividends and distributions to shareholders quarterly from net investment income, net realized short-term capital gains and, if necessary, other sources. Enhanced Dividend Achievers^TM, Real Asset and World Investment declare and pay dividends and distributions to shareholders monthly from net investment income, net realized short-term capital gains and, if necessary, other sources. Net long-term capital gains, if any, in excess of loss carryforwards may be distributed annually. If the total dividends and distributions made in any tax year exceeds net investment income and accumulated realized capital gains, a portion of the total distribution may be treated as a tax-free return of capital. Dividends and distributions are recorded on the ex-dividend date. Income distributions and capital gain distributions are determined in accordance with income tax regulations which may differ from accounting principles generally accepted in the United States of America.

Estimates: The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities including investment valuations at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates and such differences may be material.

Deferred Compensation and BlackRock Closed-End Share Equivalent Investment Plan: Under the deferred compensation plan approved by the Trusts’ Board, non-interested Trustees (“Independent Trustees”) are required to defer a portion of their annual complex-wide compensation pursuant to the plan. Deferred amounts earn an approximate return as though equivalent dollar amounts had been invested in common shares of other BlackRock closed-end trusts selected by the Independent Trustees. These amounts are shown on the Statement of Assets and Liabilities as “Investments in affiliates.” This has approximately the same economic effect for the Independent Trustees as if the Independent Trustees had invested the deferred amounts in such Trusts.

The deferred compensation plan is not funded and obligations thereunder represent general unsecured claims against the general assets of the Trust. Each Trust may, however, elect to invest in common shares of those Trusts selected by the Independent Trustees in order to match its deferred compensation obligations.

Other: Expenses that are directly related to one of the Trusts are charged directly to that Trust. Other operating expenses are generally prorated to the Trusts on the basis of relative net assets of all of the BlackRock Closed-End Funds.

Note 2. Agreements and Other Transactions with Affiliates Related Parties

Each Trust has an Investment Management Agreement with BlackRock Advisors, LLC (the “Advisor”), a wholly owned subsidiary of BlackRock, Inc. BlackRock Financial Management, Inc. (“BFM”), a wholly owned sub- and sidiary of BlackRock, Inc., serves as sub-advisor to Dividend Achievers^TM, Enhanced Dividend Achievers^TM, Strategic Dividend Achievers^TM, S&P Quality Rankings and World Investment. State Street Research & Management Company (“SSRM”), a wholly owned subsidiary of BlackRock, Inc., serves as sub-advisor to Global Energy and Resources. BlackRock Investment Management, LLC (“BIM”) and BlackRock Investment Managment International Limited (“BII”), each a wholly owned subsidiary of BlackRock, Inc. serves as sub-advisor to Real Asset. BlackRock Capital Management, Inc. (“BCM”) a wholly owned subsidiary of BlackRock, Inc. and BIM serves as sub-advisor to Global Equity Income. Merrill Lynch & Co., Inc. (“Merrill Lynch”) and The PNC Financial Services Group, Inc. (“PNC”) are principal owners of BlackRock, Inc. The Investment Management Agreement covers both investment advisory and administration services.

The Trusts’ investment advisory fees paid to the Advisor are computed weekly, accrued daily and payable monthly, based on an annual rate, 0.65% for Dividend Achievers^TM, 1.00% for Enhanced Dividend Achievers^TM, 0.75% for Strategic Dividend Achievers^TM, 1.20% for Global

Energy and Resources, 1.00% for Global Equity Income, 1.00% for Global Opportunities, 1.00% for Health Sciences, 1.20% for Real Asset, 0.75% for S&P Quality Rankings and 1.00% for World Investment, of the Trust’s average weekly net assets. “Net assets” means the total assets of the Trust minus the sum of accrued liabilities. The Advisor has voluntarily agreed to waive a portion of the investment advisory fees or some other expenses on Global Energy and Resources and Real Asset as a percentage of its average weekly net assets as follows: 0.20% for the first five years of the Trusts’ operations (2004 through 2009 for Global Energy and Resources and 2006 through 2011 for Real Asset), 0.15% in 2010 for Global Energy and Resources and in 2012 for Real Asset, 0.10% in 2011 for Global Energy and Resources and in 2013 for Real Asset and 0.05% in 2012 for Global Energy and Resources and in 2014 for Real Asset.

The Advisor pays BFM, SSRM, BCM, BIM and BII fees for its sub-advisory services.

Pursuant to the Investment Management Agreement, the Advisor provides continuous supervision of the investment portfolios and pays the compensation of officers of each Trust who are affiliated persons of the Advisor, as well as occupancy and certain clerical and accounting costs of each Trust. The Trust bears all other costs and expenses, which include reimbursements to the Advisor for cost of employees that provide pricing, secondary market support and compliance support to the Trust. For the six months ended April 30, 2007, the Trusts reimbursed the Advisor the following amounts which are included in miscellaneous expenses in the Statement of Operations:


Trust	Amount		Trust	Amount

Dividend Achievers^TM	$	14,761	Global Opportunities	$	6,889
Enhanced Dividend Achievers^TM		14,854	Health Sciences		5,034
Strategic Dividend Achievers^TM		12,220	Real Asset		6,853
Global Energy and Resources		17,252	S&P Quality Rankings		2,692
Global Equity Income		3,323	World Investment		13,051

Dividend Achievers Universe: Dividend Achievers^TM, Enhanced Dividend Achievers^TMand Strategic Dividend Achievers^TMhave been granted a revocable license by Mergent^®, Inc. (“Mergent^®”) to use the Dividend Achiever^TMuniverse of common stocks. If Mergent^®revokes each Trust’s license to use the Dividend Achievers^TMuniverse, the Board of that Trust may need to adopt a new investment strategy and/or new investment policies. There is no assurance that a Trust would pursue or achieve its investment objective during the period in which it implements these replacement investment policies or strategies. ‘‘Mergent^®’’ and ‘‘Dividend Achievers^TM’’ are trademarks of Mergent^®and have been licensed for use by Dividend Achievers^TM, Enhanced Dividend Achievers^TMand Strategic Dividend Achievers^TM. The products are not sponsored, endorsed, sold or promoted by Mergent^®and Mergent^®makes no representation regarding the advisability of investing in any of these three Trusts. The Trusts are required to pay a quarterly licensing fee, which is shown on the Statement of Operations.

S&P Quality Rankings: S&P Quality Rankings has been granted a license by Standard & Poor’s^®, (“S&P^®”) to use the S&P Quality Rankings and the S&P International Quality Rankings. If S&P^®terminates the license to use either the S&P Quality Rankings or the S&P International Quality Rankings, the Board may need to adopt a new investment strategy and/or new investment polices. There is no assurance that the Trust would pursue or achieve its investment objective during the period in which it implements these replacement investment policies or strategies. “Standard & Poor’s^®”, “S&P^®”, “Standard & Poor’s Earnings and Dividend Rankings”, “S&P Earnings and Dividend Rankings”, “Standard & Poor’s Quality Rankings”, “Standard & Poor’s International Quality Rankings”, “S&P International Quality Rankings” and “S&P Quality Rankings” are trademarks of Standard & Poor’s^®and have been licensed for use by the Trust. The Trust is not sponsored, managed, advised, sold or promoted by Standard & Poor’s^®. The Trust is required to pay a quarterly licensing fee, which is shown on the Statement of Operations.

During the six months ended April 30, 2007, Merrill Lynch & Co., Inc. through their affiliated broker-dealer Merrill Lynch, Pierce, Fenner & Smith Incorporated (“MLPF&S”), earned commissions on transactions of securities as follows:


Trust	Commission Amount

Enhanced Dividend Achievers^TM	$	85,948
Global Energy and Resources		21,234
Global Equity Income		13,048
Global Opportunities		32,774
Health Sciences		16,998
Real Asset		59,968
World Investment		88,554

Note 3. Portfolio Securities

Purchases and sales of investment securities, other than short-term investments and U.S. government securities, for the six months ended April 30, 2007, were as follows:


Trust	Purchases		Sales

Dividend Achievers^TM	$	108,063,029	$	122,799,836
Enhanced Dividend Achievers^TM		784,622,746		725,506,394
Strategic Dividend Achievers^TM		—		15,253,234
Global Energy and Resources		183,662,218		216,013,399
Global Equity Income		700,390,806		3,077,640
Global Opportunities		296,624,276		300,525,049
Health Sciences		106,361,539		128,274,274
Real Asset		374,599,970		281,786,843
S&P Quality Rankings		3,033,448		4,730,944
World Investment		733,823,092		739,417,833

Transactions in options written during the six months ended April 30, 2007, were as follows:


	Calls						Puts

Trust	Contracts			Premiums			Contracts			Premiums

Enhanced Dividend Achievers^TM
Options outstanding at beginning of period		6,951,027		$	8,225,806			90,000		$	27,000
Options written		23,145,315			30,939,214			308,040			648,791
Options expired		(6,177,047	)		(7,035,555	)		(153,625	)		(222,218	)
Options exercised		(6,618,870	)		(10,061,648	)		(91,065	)		(79,351	)
Options closed		(9,877,088	)		(12,194,737	)		(50,000	)		(12,520	)

Options outstanding at end of period		7,423,337		$	9,873,080			103,350		$	361,702

Global Energy and Resources
Options outstanding at beginning of period		1,136,290		$	5,347,629			511,460		$	1,008,817
Options written		2,840,265			10,046,411			41,277			1,266,234
Options expired		(1,224,420	)		(5,396,323	)		(452,611	)		(982,261	)
Options exercised		(612,150	)		(2,183,122	)		(29,113	)		(248,984	)
Options closed		(878,925	)		(3,708,054	)		(66,344	)		(748,946	)

Options outstanding at end of period		1,261,060		$	4,106,541			4,669		$	294,860

Global Equity Income
Options outstanding at beginning of period		—		$	—			—		$	—
Options written		4,295			5,416,127			—			—
Options closed		(1,220	)		(1,170,879	)		—			—

Options outstanding at end of period		3,075		$	4,245,248			—		$	—

Global Opportunities
Options outstanding at beginning of period		8,934,189		$	4,111,793			—		$	—
Options written		26,763,544			13,780,151			140,439			116,273
Options expired		(4,639,630	)		(2,653,344	)		(70,206	)		(47,618	)
Options exercised		(13,936,600	)		(5,127,155	)		(170	)		(25,839	)
Options closed		(7,528,212	)		(5,211,692	)		(63	)		(4,316	)

Options outstanding at end of period		9,593,291		$	4,899,753			70,000		$	38,500


	Calls						Puts

Trust	Contracts			Premiums			Contracts			Premiums

Health Sciences
Options outstanding at beginning of period		235,261		$	1,704,633			—		$	—
Options written		527,565			3,184,328			50,868			435,219
Options expired		(206,355	)		(1,031,088	)		(22,510	)		(174,960	)
Options exercised		(96,582	)		(1,181,619	)		(550	)		(35,299	)
Options closed		(351,158	)		(1,796,428	)		(1,548	)		(106,344	)

Options outstanding at end of period		108,731		$	879,826			26,260		$	118,616

Real Asset
Options outstanding at beginning of period		6,843,497		$	4,653,527			5,234,825		$	3,404,041
Options written		30,998,129			21,425,330			1,539,272			7,123,671
Options expired		(8,351,822	)		(5,726,796	)		(5,864,843	)		(6,032,460	)
Options exercised		(11,580,280	)		(6,767,496	)		(503,235	)		(2,101,241	)
Options closed		(5,997,297	)		(5,256,348	)		(275,625	)		(1,744,151	)

Options outstanding at end of period		11,912,227		$	8,328,217			130,394		$	649,860

World Investment
Options outstanding at beginning of period		24,148,361		$	9,547,129			—		$	—
Options written		59,876,412			32,520,016			357,116			295,198
Options expired		(12,073,460	)		(6,507,831	)		(178,524	)		(120,844	)
Options exercised		(32,587,153	)		(12,896,596	)		(430	)		(65,358	)
Options closed		(17,285,384	)		(10,412,368	)		(162	)		(11,096	)

Options outstanding at end of period		22,078,776		$	12,250,350			178,000		$	97,900

As of April 30, 2007, the value of portfolio securities subject to covered call options written were as follows:


Trust	Value

Enhanced Dividend Achievers^TM	$	507,934,183
Global Energy and Resources		182,785,219
Global Equity Income		8,903,010
Global Opportunities		193,161,193
Health Sciences		47,920,447
Real Asset		315,423,637
World Investment		496,739,517

Details of open forward foreign currency exchange contracts at April 30, 2007, were as follows:


Trust	Foreign Currency Bought	Settlement Date	Contract to Purchase/ Receive		Value at Settlement Date (US$)		Value at April 30, 2007 (US$)		Unrealized Depreciation

Health
Sciences	Swiss Franc	05/03/07		944,000		781,618		782,558	$	(940	)
	Euro	05/02/07		98,000		133,736		133,927		(191	)

									$	(1,131	)

Note 4. Income Tax Information

The tax character of distributions paid during the year ended October 31, 2006, were as follows:

Distributions Paid From:


	Period ended October 31, 2006

	Ordinary Income		Non-taxable Return of Capital		Long-term Capital Gains		Total Distributions

Dividend Achievers^TM	$	23,135,339	$	8,978,900	$	16,952,248	$	49,066,487
Enhanced Dividend Achievers^TM		51,946,761		—		32,569,547		84,516,308
Strategic Dividend Achievers^TM		10,051,697		—		14,165,531		24,217,228
Global Energy and Resources		42,657,932		—		41,980,821		84,638,753
Global Opportunities		27,654,546		—		502,975		28,157,521
Health Sciences		12,399,889		—		2,032,812		14,432,701
S&P Quality Rankings		3,563,848		29,330		2,668,835		6,262,013
World Investment		64,975,119		—		—		64,975,119

For Federal income tax purposes, the Trusts had no capital loss carryforwards at April 30, 2007.

Note 5. Capital

There are an unlimited number of $0.001 par value common shares of beneficial interest authorized for the Trusts. At April 30, 2007, the shares owned by an affiliate of the Advisor of the Trusts were as follows:


Trust			Common Shares Owned

Dividend Achievers^TM			8,028
Enhanced Dividend Achievers^TM			8,028
Strategic Dividend Achievers^TM			8,028
Global Energy and Resources			4,817
Global Equity Income			6,021
Global Opportunities			4,817
Health Sciences			4,817
Real Asset			8,028
S&P Quality Rankings			8,028
World Investment			8,028

Transaction in common shares of beneficial interest for the periods ended April 30, 2007 and October 31, 2006, were as follows:

Trust

Commencement
of Investment
Operations

Initial Public
Offering

Underwriters’
Exercising the
Over-allotment
Option

Global Equity Income

March 30, 2007

40,006,021

—

Real Asset

September 29, 2006

53,508,028

3,200,000


Trust	Reinvestment of Dividends and Distributions for the period ended October 31, 2006		Reinvestment of Dividends and Distributions for the six months ended April 30, 2007

Enhanced Dividend Achievers^TM		334,800		354,756
Global Opportunities		36,764		120,452
Health Sciences		—		69,573
World Investment		—		98,239

Offering costs incurred in connection with the Trusts’ offering of common shares have been charged against the proceeds from the initial common share offering of the common shares for Global Equity Income and Real Asset in the amount of $1,287,151 and $1,254,847, respectively.

Note 6. Concentration Risks

As of April 30, 2007, the Trusts listed below had the following industry classifications:


Sector	Global Equity Income			Global Opportunities			S&P Quality Rankings			World Investment

Financial Institutions		24	%		21	%		26	%		22	%
Energy		15			18			15			18
Consumer Products		11			19			11			17
Health Care		11			4			6			5
Industrials		8			5			7			6
Telecommunications		8			8			7			8
Technology		7			7			9			6
Basic Materials		6			6			3			6
Media		3			1			1			1
Entertainment & Leisure		2			1			1			1
Real Estate		2			6			8			5
Aerospace & Defense		1			1			1			1
Automotive		1			—			3			—
Transportation		1			1			—			2
Building & Development		—			2			1			2
Business Equipment & Services		—			—			1			—

As of April 30, 2007, the Trusts listed below had the following geographic concentrations:


Country	Global Energy and Resources			Health Sciences			Real Assets

United States		63	%		91	%		47	%
Canada		17			—			12
Switzerland		—			8			—
Bermuda		3			—			1
Greece		3			—			—
Australia		2			—			9
Norway		2			—			2
United Kingdom		2			—			14
Brazil		1			—			3
Cayman Islands		1			—			—
Denmark		1			—			—
France		1			1			1
Hong Kong		1			—			—
Italy		1			—			—
Japan		1			—			—
Netherlands		1			—			2
South Africa		—			—			4
China		—			—			1
Mexico		—			—			1
New Guinea		—			—			1
Peru		—			—			1
Russia		—			—			1

Note 7. Subsequent Event

On May 8, 2007, Global Equity Income issued an additional 4,919,954 shares from the underwriters’ exercising their over-allotment option in the amount of $93,938,305.

Subsequent to April 30, 2007, the Board declared distributions per common share for Enhanced Dividend Achievers^TM, Global Opportunities, Real Asset, S&P Quality Rankings and World Investment payable May 30, 2007, to shareholders of record on May 15, 2007, and for Dividend Achievers^TM, Enhanced Dividend Achievers^TM, Strategic Dividend Achievers^TM, Global Energy and Resources, Health Sciences, Real Asset and World Investment payable June 29, 2007, to shareholders of record on June 15, 2007. The per share distributions declared were as follows:


Trust			Distribution per Common Share

Dividend Achievers^TM			0.225000
Enhanced Dividend Achievers^TM			0.101875
Strategic Dividend Achievers^TM			0.225000
Global Energy and Resources			0.375000
Global Equity Income			0.475000
Global Opportunities			0.568750
Health Sciences			0.384375
Real Asset			0.090600
S&P Quality Rankings			0.225000
World Investment			0.113750

DIVIDEND REINVESTMENT PLANS

Pursuant to each Trust’s Dividend Reinvestment Plan (the “Plan”), common shareholders are automatically enrolled to have all distributions reinvested by The Bank of New York (the “Plan Agent”) in the respective Trust’s shares pursuant to the Plan. Shareholders who elect not to participate in the Plan will receive all distributions in cash paid by check and mailed directly to the shareholders of record (or if the shares are held in street or other nominee name, then to the nominee) by the Plan Agent.

The Plan Agent serves as agent for the shareholders in administering the Plan. After a Trust declares a distribution, the Plan Agent will acquire shares for the participants’ accounts, depending upon the circumstances described below, either (i) through receipt of unissued but authorized shares from the Trust (“newly issued shares”) or (ii) by purchase of outstanding shares on the open market, on the Trust’s primary exchange or elsewhere (“open-market purchases”). If, on the distribution payment date, the net asset value per share (“NAV”) is equal to or less than the market price per share plus estimated brokerage commissions (such condition being referred to herein as “market premium”), the Plan Agent will invest the distribution amount in newly issued shares on behalf of the participants. The number of newly issued shares to be credited to each participant’s account will be determined by dividing the dollar amount of the distribution by the NAV on the date the shares are issued. However, if the NAV is less than 95% of the market price on the payment date, the dollar amount of the distribution will be divided by 95% of the market price on the payment date. If, on the distribution payment date, the NAV is greater than the market value per share plus estimated brokerage commissions (such condition being referred to herein as “market discount”), the Plan Agent will invest the distribution amount in shares acquired on behalf of the participants in open-market purchases.

Participation in the Plan is completely voluntary and may be terminated or resumed at any time without penalty by notice if received and processed by the Plan Administrator prior to the distribution record date; otherwise such termination or resumption will be effective with respect to any subsequently declared distribution.

The Plan Agent’s fees for the handling of the reinvestment of distributions will be paid by each Trust. However, each participant will pay a pro rata share of brokerage commissions incurred with respect to the Plan Agent’s open market purchases in connection with the reinvestment of distributions. The automatic reinvestment of distributions will not relieve participants of any federal income tax that may be payable on such distributions.

Each Trust reserves the right to amend or terminate the Plan. There is no direct service charge to participants in the Plan; however, each Trust reserves the right to amend the Plan to include a service charge payable by the participants. Participants that request a sale of shares through the Plan Agent are subject to a $2.50 sales fee and a $0.15 per share sold brokerage commission. All correspondence concerning the Plan should be directed to the Plan Agent at The Bank of New York, Dividend Reinvestment Department, P.O. Box 1958, Newark, New Jersey 07101-9774; or by calling 1-866-216-0242.

ADDITIONAL INFORMATION

The Trusts listed for trading on the New York Stock Exchange (“NYSE”) have filed with the NYSE their annual chief executive officer certification regarding compliance with the NYSE’s listing standards and the Trusts listed for trading on the American Stock Exchange (“AMEX”) have filed with the AMEX their corporate governance certification regarding compliance with the AMEX’s listing standards. All of the Trusts have filed with the Securities and Exchange Commission the certification of its chief executive officer and chief financial officer required by section 302 of the Sarbanes-Oxley Act.

During the period, there were no material changes in any Trusts’ investment objective or policies or to the Trusts’ charters or by-laws that were not approved by the shareholders or in the principle risk factors associated with investment in the Trusts. There have been no changes in the persons who are primarily responsible for the day-to-day management of the Trusts’ portfolios.

The Trusts do not make available copies of their respective Statements of Additional Information because the Trusts’ shares are not continuously offered, which means that the Statement of Additional Information of each Trust has not been updated after completion of such Trust’s offering and the information contained in each Trust’s Statement of Additional Information may have become outdated.

Quarterly performance, semi-annual and annual reports and other information regarding the Trusts may be found on BlackRock’s website, which can be accessed at http://www.blackrock.com. This reference to BlackRock’s website is intended to allow investors public access to information regarding the Trusts and does not, and is not intended, to incorporate BlackRock’s website into this report.

Certain officers of the Trusts listed on the inside back cover of this Report to Shareholders are also officers of the Advisor or the Sub-Advisor. They serve in the following capacities for the Advisor or the Sub-Advisor; Robert S. Kapito—Director and Vice Chairman of the Advisor and the Sub-Advisors, Donald Burke, Anne Ackerley, Bartholomew Battista, Vincent Tritto and Brian Kindelan—Managing Directors of the Advisor and the Sub-Advisors, Neal Andrews—Manging Director of the Advisor, James Kong—Managing Director of the BFM, Jay Fife—Managing Director of the Sub-Advisors, Spencer Fleming—Director of the Advisor and the Sub-Advisor and Robert Mahar—Director of the Sub-Advisor.

Important Information Regarding the BlackRock Closed-End Funds Semi-Annual Investor Update

The Semi-Annual Investor Update (“Update”) is available on the Internet and may be accessed through BlackRock’s website at http://www.blackrock.com. The Update provides information on the fixed income markets and summaries of BlackRock Closed-End Funds’ investment objectives and strategies. It also contains recent news regarding the BlackRock Closed-End Funds.

If you would like to receive a hard copy of the BlackRock Closed-End Funds Semi-Annual Investor Update, please call (800) 699-1BFM.

SECTION 19 NOTICES

The amounts and sources of distributions reported are only estimates and are not being provided for tax reporting purposes. The actual amounts and sources for tax reporting purposes will depend upon the Trusts’ investment experience during the remainder of its fiscal year and may be subject to changes based on the tax regulations. The Trusts will send you a Form 1099-DIV for the calendar year that will tell you how to report these dividends and distributions for federal income tax purposes.


	Total Fiscal Year to Date Cumulative Distributions												Percentage of Fiscal Year to Date Cumulative Distributions by Character

Trust	Net Investment Income			Net Realized Capital Gains			Return of Capital			Total Per Common Share			Net Investment Income		Net Realized Capital Gains		Return of Capital		Total Per Common Share

Dividend Achievers*		$	0.33		$	—		$	0.12		$	0.45	74	%	—	%	26	%	100%
Enhanced Dividend Achievers		$	0.40		$	0.21		$	—		$	0.61	66	%	34	%	—	%	100%
Strategic Dividend Achievers*		$	0.31		$	—		$	0.14		$	0.45	69	%	—	%	31	%	100%
Global Energy and Resources		$	0.17		$	0.92		$	—		$	1.09	16	%	84	%	—	%	100%
Global Opportunities		$	0.63		$	0.75		$	—		$	1.38	46	%	54	%	—	%	100%
Health Sciences		$	—		$	1.46		$	—		$	1.46	—	%	100	%	—	%	100%
Real Asset		$	0.40		$	0.14		$	—		$	0.54	74	%	26	%	—	%	100%
S&P Quality Rankings*		$	0.28		$	—		$	0.17		$	0.45	63	%	—	%	37	%	100%
World Investment		$	0.12		$	0.95		$	—		$	1.07	11	%	89	%	—	%	100%

The Trust estimates that is has distributed more than its income and net realized gains; therefore, a portion of your distribution may be a return of capital. A return of capital may occur, for example, when some or all of the money that you invested in the Trust is paid back to you. A return of capital does not necessarily reflect the Trusts’ investment performance and should not be confused with ‘yield’ or ‘income.’

BlackRock Closed-End Funds

Trustees
Ralph L. Schlosstein, Chairman
Andrew F. Brimmer, Lead Trustee¹Richard E. Cavanagh, Lead Trustee²Kent Dixon
Frank J. Fabozzi
Kathleen F. Feldstein
R. Glenn Hubbard
Robert S. Kapito³

Officers
Robert S. Kapito, President
Donald C. Burke, Treasurer
Bartholomew Battista, Chief Compliance Officer
Anne Ackerley, Vice President
Neal Andrews, Assistant Treasurer
Jay Fife, Assistant Treasurer
Spencer Fleming, Assistant Treasurer
James Kong, Assistant Treasurer
Robert Mahar, Assistant Treasurer
Vincent B. Tritto, Secretary
Brian P. Kindelan, Assistant Secretary

Investment Advisor
BlackRock Advisors, LLC
100 Bellevue Parkway
Wilmington, DE 19809
(800) 227-7BFM

Sub-Advisors
BlackRock Financial Management, Inc.⁴40 East 52nd Street
New York, NY 10022

BlackRock Capital Management, Inc.⁵One Financial Center
Boston, MA 02111

BlackRock Investment Management, LLC⁶800 Scudders Mill Road
Princeton, NJ 08356

BlackRock Investment Management International, Ltd.⁵33 King William Street
London, EC4R 9AS UK

State Street Research & Management Co.⁷One Financial Center
Boston, MA 02111

Accounting Agent
The Bank of New York
2 Hanson Place
Brooklyn, NY 11217

Custodian
The Bank of New York
100 Colonial Center Parkway
Suite 200
Lake Mary, FL 32746

Transfer Agent
The Bank of New York
P.O. Box 11258
Church Street Station
New York, NY 10286
(866) 216-0242

Independent Registered Public Accounting Firm
Deloitte & Touche LLP
200 Berkeley Street
Boston, MA 02116

Legal Counsel
Skadden, Arps, Slate, Meagher & Flom LLP
4 Times Square
New York, NY 10036

Legal Counsel – Independent Trustees
Debevoise & Plimpton LLP
919 Third Avenue
New York, NY 10022

This report is for shareholder information. This is not a prospectus intended for use in the purchase or sale of Trust shares. Statements and other information contained in this report are as dated and are subject to change.

BlackRock Closed-End Funds
c/o BlackRock Advisors, LLC
100 Bellevue Parkway
Wilmington, DE 19809
(800) 227-7BFM



¹	Retired, effective December 31, 2006.
²	Effective as of January 1, 2007.
³	Resigned, effective December 31, 2006.
⁴	For all Trusts except Global Energy and Resources, Global Equity Income, Global Opportunities, Health Sciences and Real Asset.
⁵	For Real Asset.
⁶	For Global Equity Income and Real Asset.
⁷	For Global Energy and Resources.

The Trusts will mail only one copy of shareholder documents, including annual and semi-annual reports and proxy statements, to shareholders with multiple accounts at the same address. This practice is commonly called “householding” and is intended to reduce expenses and eliminate duplicate mailings of shareholder documents. Mailings of your shareholder documents may be householded indefinitely unless you instruct us otherwise. If you do not want the mailing of these documents to be combined with those for other members of your household, please contact the Trusts at (866) 216-0242.

The Trusts have delegated to the Advisor the voting of proxies relating to their voting securities pursuant to the Advisor’s proxy voting policies and procedures. You may obtain a copy of these proxy voting policies and procedures, without charge, by calling (866)216-0242. These policies and procedures are also available on the website of the Securities and Exchange Commission (the “Commission”) at http://www.sec.gov.

Information on how proxies relating to the Trusts’voting securities were voted (if any) by the Advisor during the most recent 12-month period ended June 30th is available without charge, upon request, by calling (866) 216-0242 or on the website of the Commission at http://www.sec.gov.

The Trusts file their complete schedule of portfolio holdings for the first and third quarters of their respective fiscal years with the Commission on Form N-Q. Each Trust’s Form N-Q will be available on the Commission’s website at http://www.sec.gov. Each Trust’s Form N-Q may be reviewed and copied at the Commission’s Public Reference Room in Washington, D.C. Information regarding the operation of the Public Reference Room may be obtained by calling 1-800-SEC-0330. Each Trust’s Form N-Q may also be obtained, upon request, by calling (866) 216-0242.


This report is for shareholder information. This is not a prospectus intended for use in the purchase or sale of Trust shares. Statements and other information contained in this report are as dated and are subject to change. CEF-SEMI-7-0407

Item 2. Code of Ethics.

Not applicable for semi-annual reports.

Item 3. Audit Committee Financial Expert.

Not applicable for semi-annual reports.

Item 4. Principal Accountant Fees and Services.

Not applicable for semi-annual reports.

Item 5. Audit Committee of Listed Registrants.

Not applicable for semi-annual reports.

Item 6. Schedule of Investments.

The Registrant’s Schedule of Investments is included as part of the Report to Shareholders filed under Item 1 of this form.

Item 7. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.

Not applicable for semi-annual reports.

Item 8. Portfolio Managers of Closed-End Management Investment Companies

(a) Not applicable for semi-annual reports.

(b) Not applicable.

Item 9. Purchases of Equity Securities by Closed-End Management Companies and Affiliated Purchasers.

Not applicable because no such purchases were made during the period covered by this report.

Item 10. Submission of Matters to a Vote of Security Holders.

No matters were voted on by shareholders during the period covered by this report.

Item 11. Controls and Procedures.

(a) The Registrant's principal executive and principal financial officers have evaluated the Registrant's disclosure controls and procedures within 90 days of this filing and have concluded, as of that date, that the Registrant’s disclosure controls and procedures were reasonably designed to ensure that information required to be disclosed by the Registrant in this Form N-CSR was recorded, processed, summarized, and reported within the required time periods and that information required to be disclosed by the Registrant in this Form N-CSR was accumulated and communicated to the Registrant’s management, including its principle executive and principle financial officers, as appropriate to allow timely decisions regarding required disclosure.

(b) There were no changes in the Registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940 (17 CFR 270.30a-3(d)) that occurred during the Registrant's second fiscal quarter of the period covered by this report that have materially affected, or are reasonably likely to materially affect, the Registrant's internal control over financial reporting.

Item 12. Exhibits.

(a) (1) Not applicable.

(a) (2) Separate certifications of Principal Executive and Financial Officers pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 attached as EX-99.CERT.

(a) (3) Not applicable.

(b) Certification of Principal Executive and Financial Officers pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 furnished as EX-99.906CERT.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

(Registrant) BlackRock Global Energy and Resources Trust

By:		/s/ Donald C. Burke
Name:		Donald C. Burke
Title:		Treasurer
Date:		July 3, 2007

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed by the following persons on behalf of the Registrant and in the capacities and on the dates indicated.

By:		/s/ Robert S. Kapito
Name:		Robert S. Kapito
Title:		Principal Executive Officer
Date:		July 3, 2007

By:		/s/ Donald C. Burke
Name:		Donald C. Burke
Title:		Principal Financial Officer
Date:		July 3, 2007




	Six Months Ended April 30, 2007 (unaudited)			Year Ended October 31, 2006			For the Period December 29, 2004¹through October 31, 2005

PER SHARE OPERATING PERFORMANCE:
Net asset value, beginning of period	$	29.67		$	28.12		$	23.88	²

Investment operations:
Net investment income		0.37			0.75			0.56
Net realized and unrealized gain		4.03			3.65			4.85

Net increase from investment operations		4.40			4.40			5.41

Dividends and distributions from:
Net investment income		(1.09	)³		(0.49	)		(0.54	)
Net realized gains		—			(2.36	)		(0.59	)

Total dividends and distributions		(1.09	)		(2.85	)		(1.13	)

Capital charges with respect to issuance of shares		—			—			(0.04	)

Net asset value, end of period	$	32.98		$	29.67		$	28.12

Market price, end of period	$	30.24		$	26.73		$	25.16


TOTAL INVESTMENT RETURN⁴
At net asset value⁵		15.61	%		17.30	%		22.99	%

At market value		17.66	%		18.11	%		5.10	%


RATIOS TO AVERAGE NET ASSETS:
Total expenses		1.28	%⁶		1.28	%		1.30	%⁶
Net expenses		1.08	%⁶		1.08	%		1.10	%⁶
Net investment income before		1.59	%⁶		2.47	%		2.59	%⁶

SUPPLEMENTAL DATA:
Average net assets (000)	$	893,934		$	889,944		$	770,023
Portfolio turnover		21	%		40	%		64	%
Net assets, end of period (000)	$	981,732		$	883,104		$	836,924




	For the Period March 30, 2007¹through April 30, 2007 (unaudited)

PER SHARE OPERATING PERFORMANCE:
Net asset value, beginning of period	$	19.10	²

Investment operations:
Net investment income		0.02
Net realized and unrealized gain		0.57

Net increase from investment operations		0.59

Capital charges with respect to issuance of shares		(0.02	)

Net asset value, end of period	$	19.67

Market price, end of period	$	20.05


TOTAL INVESTMENT RETURN³
At net asset value		2.98	%

At market value		0.25	%


RATIOS TO AVERAGE NET ASSETS:⁴
Total expenses		1.20	%
Net expenses		1.20	%
Net investment income		3.42	%

SUPPLEMENTAL DATA:
Average net assets (000)	$	779,698
Portfolio turnover		1	%
Net assets, end of period (000)	$	786,827




	Six Months Ended April 30, 2007 (unaudited)			Year Ended October 31, 2006			For the Period May 31, 2005¹through October 31, 2005

PER SHARE OPERATING PERFORMANCE:
Net asset value, beginning of period	$	26.72		$	23.77		$	23.88	²

Investment operations:
Net investment income		0.27			0.58			0.37
Net realized and unrealized gain		3.20			4.64			0.13

Net increase from investment operations		3.47			5.22			0.50

Dividends and distributions from:
Net investment income		(1.38	)³		(0.59	)		(0.23	)
Net realized gains		—			(1.68	)		(0.33	)

Total dividends and distributions		(1.38	)		(2.27	)		(0.56	)

Capital charges with respect to issuance of shares		—			—			(0.05	)

Net asset value, end of period	$	28.81		$	26.72		$	23.77

Market price, end of period	$	29.10		$	27.61		$	23.88


TOTAL INVESTMENT RETURNS:⁴
At net asset value⁵		13.40	%		24.48	%		0.81	%

At market value		10.85	%		26.64	%		(2.21	)%


RATIOS TO AVERAGE NET ASSETS:
Total expenses		1.14	%⁶		1.16	%		1.19	%⁶
Net expenses		1.14	%⁶		1.16	%		1.19	%⁶
Net investment income		1.97	%⁶		2.45	%		3.66	%⁶

SUPPLEMENTAL DATA:
Average net assets (000)	$	341,793		$	314,884		$	294,175
Portfolio turnover		88	%		184	%		55	%
Net assets, end of period (000)	$	361,137		$	331,744		$	294,195




	Six Months Ended April 30, 2007 (unaudited)			Year Ended October 31, 2006			For the Period March 31, 2005¹through October 31, 2005

PER SHARE OPERATING PERFORMANCE:
Net asset value, beginning of period	$	27.74		$	26.38		$	23.88	²

Investment operations:
Net investment income (loss)		0.04			—	³		(0.03	)
Net realized and unrealized gain		2.10			3.28			3.34

Net increase from investment operations		2.14			3.28			3.31

Dividends and distributions from:
Net investment income		(1.46	)⁴		—			—
Net realized gains		—			(1.92	)		(0.77	)

Total dividends and distributions		(1.46	)		(1.92	)		(0.77	)

Capital charges with respect to issuance of shares		—			—			(0.04	)

Net asset value, end of period	$	28.42		$	27.74		$	26.38

Market price, end of period	$	27.84		$	27.32		$	25.19


TOTAL INVESTMENT RETURNS:⁵
At net asset value⁶		8.18	%		13.00	%		13.88	%

At market value		7.60	%		16.59	%		3.81	%


RATIOS TO AVERAGE NET ASSETS:
Total expenses		1.13	%⁷		1.15	%		1.18	%⁷
Net expenses		1.13	%⁷		1.15	%		1.18	%⁷
Net investment income (loss)		0.23	%⁷		(0.11	)%		(0.19	)%⁷

SUPPLEMENTAL DATA:
Average net assets (000)	$	209,163		$	206,098		$	192,836
Portfolio turnover		57	%		181	%		104	%
Net assets, end of period (000)	$	215,274		$	208,151		$	198,005



¹	Commencement of investment operations. This information includes the initial investment by BlackRock Funding, Inc.
²	Net asset value, beginning of period, reflects a deduction of $1.12 per share sales charge from the initial offering price of $25.00 per share.
³	Amounted to less than $0.01 per common share outstanding.
⁴	A portion of the dividends from net investment income may be deemed a tax return of capital or net realized gain at fiscal year end.
⁵	Total investment returns at market price, which can be significantly greater or lesser than the net asset value, may result in substantially different returns. Total investment returns exclude the effects of brokerage commissions. Total investment returns for less than a full year are not annualized.
⁶	Unaudited.
⁷	Annualized.




	Six Months Ended April 30, 2007 (unaudited)			For the Period September 29, 2006¹through October 31, 2006

PER SHARE OPERATING PERFORMANCE:
Net asset value, beginning of period	$	15.33		$	14.33	²

Investment operations:
Net investment income		0.13			0.04
Net realized and unrealized gain		2.15			0.98

Net increase from investment operations		2.28			1.02

Dividends from net investment income		(0.54	)³		—

Capital charges with respect to issuance of shares		—			(0.02	)

Net asset value, end of period	$	17.07		$	15.33

Market price, end of period	$	15.70		$	15.00


TOTAL INVESTMENT RETURNS:⁴
At net asset value⁵		15.43	%		6.98	%

At market value		8.50	%		—	%


RATIOS TO AVERAGE NET ASSETS:⁶
Total expenses		1.12	%		1.42	%
Net expenses		1.08	%		1.22	%
Net investment income		1.46	%		2.63	%

SUPPLEMENTAL DATA:
Average net assets (000)	$	895,228		$	787,768
Portfolio turnover		37	%		—	%
Net assets, end of period (000)	$	968,147		$	820,283




	Six Months Ended April 30, 2007 (unaudited)									For the Period May 28, 2004¹ through October 31, 2004
				Year Ended October 31

				2006			2005

PER SHARE OPERATING PERFORMANCE:
Net asset value, beginning of period	$	18.55		$	15.98		$	15.29		$	14.33	²

Investment operations:
Net investment income		0.24			0.39			0.56			0.21
Net realized and unrealized gain		2.06			3.22			0.88			0.96

Net increase from investment operations		2.30			3.61			1.44			1.17

Dividends and distributions from:
Net investment income		(0.45	)³		(0.49	)		(0.37	)		(0.17	)
Net realized gains		—			(0.55	)		(0.38	)		—
Tax return of capital		—			—	⁴		—			(0.02	)

Total dividends and distributions		(0.45	)		(1.04	)		(0.75	)		(0.19	)

Capital charges with respect to issuance of shares		—			—			—			(0.02	)

Net asset value, end of period	$	20.40		$	18.55		$	15.98		$	15.29

Market price, end of period	$	18.68		$	16.36		$	14.54		$	13.80


TOTAL INVESTMENT RETURNS:⁵
At net asset value⁶		12.88	%		24.34	%		10.08	%		8.13	%

At market value		17.20	%		20.52	%		10.97	%		(6.80	)%


RATIOS TO AVERAGE NET ASSETS:
Total expenses		1.10	%⁷		1.13	%		1.14	%		1.23	%⁷
Net expenses		1.09	%⁷		1.13	%		1.14	%		1.23	%⁷
Net investment income		2.39	%⁷		2.45	%		3.35	%		3.27	%⁷

SUPPLEMENTAL DATA:
Average net assets (000)	$	116,035		$	102,587		$	96,697		$	87,094
Portfolio turnover		3	%		10	%		38	%		4	%
Net assets, end of period (000)	$	123,050		$	111,925		$	96,402		$	92,243




	Six Months Ended April 30, 2007 (unaudited)			Year Ended October 31, 2006			For the Period October 27, 2005¹through October 31, 2005

PER SHARE OPERATING PERFORMANCE:
Net asset value, beginning of period	$	16.35		$	14.42		$	14.33	²

Investment operations:
Net investment income		0.11			0.30			—
Net realized and unrealized gain		1.94			2.88			0.11

Net increase from investment operations		2.05			3.18			0.11

Dividends and distributions from:
Net investment income		(1.07	)³		(0.34	)		—
Net realized gains		—			(0.91	)		—

Total dividends and distributions		(1.07	)		(1.25	)		—

Capital charges with respect to issuance of shares		—			—			(0.02	)

Net asset value, end of period	$	17.33		$	16.35		$	14.42

Market price, end of period	$	17.39		$	16.59		$	15.08


TOTAL INVESTMENT RETURNS:⁴
At net asset value⁵		12.98	%		22.47	%		0.80	%

At market value		11.67	%		18.99	%		0.53	%


RATIOS TO AVERAGE NET ASSETS:
Total expenses		1.12	%⁶		1.10	%		1.23	%⁶
Net expenses		1.12	%⁶		1.10	%		1.23	%⁶
Net investment income		1.51	%⁶		2.04	%		2.59	%⁶

SUPPLEMENTAL DATA:
Average net assets (000)	$	867,183		$	808,627		$	667,368
Portfolio turnover		86	%		153	%		—	%
Net assets, end of period (000)	$	902,619		$	849,947		$	672,981