X0101 EFFECT 33 LIVE 2008-09-16 11:00:00

N-14

0000844779 BLACKROCK FUNDS 333-152730 0000844779 BLACKROCK FUNDS S000001876 BLACKROCK CAPITAL APPRECIATION PORTFOLIO C000004907 INSTITUTIONAL 0000847090 PNC FUNDS INC S000006404 PNC Equity Growth Fund C000017584 Class I 0000844779 BLACKROCK FUNDS S000001876 BLACKROCK CAPITAL APPRECIATION PORTFOLIO C000004909 INVESTOR A 0000847090 PNC FUNDS INC S000006404 PNC Equity Growth Fund C000017582 Class A 0000844779 BLACKROCK FUNDS S000001876 BLACKROCK CAPITAL APPRECIATION PORTFOLIO C000004909 INVESTOR A 0000847090 PNC FUNDS INC S000006404 PNC Equity Growth Fund C000017583 Class C