<SEC-DOCUMENT>0001752724-22-062393.txt : 20220315
<SEC-HEADER>0001752724-22-062393.hdr.sgml : 20220315
<ACCEPTANCE-DATETIME>20220315155328
ACCESSION NUMBER:		0001752724-22-062393
CONFORMED SUBMISSION TYPE:	N-CEN
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20211231
FILED AS OF DATE:		20220315
DATE AS OF CHANGE:		20220315
EFFECTIVENESS DATE:		20220315

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BLACKROCK CREDIT ALLOCATION INCOME TRUST
		CENTRAL INDEX KEY:			0001379384
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1031

	FILING VALUES:
		FORM TYPE:		N-CEN
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-21972
		FILM NUMBER:		22740946

	BUSINESS ADDRESS:	
		STREET 1:		100 BELLEVUE PARKWAY
		STREET 2:		MUTUAL FUND DEPARTMENT
		CITY:			WILMINGTON
		STATE:			DE
		ZIP:			19809
		BUSINESS PHONE:		888-825-2257

	MAIL ADDRESS:	
		STREET 1:		100 BELLEVUE PARKWAY
		STREET 2:		MUTUAL FUND DEPARTMENT
		CITY:			WILMINGTON
		STATE:			DE
		ZIP:			19809

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BLACKROCK CREDIT ALLOCATION INCOME TRUST IV
		DATE OF NAME CHANGE:	20091113

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BLACKROCK PREFERRED & EQUITY ADVANTAGE TRUST
		DATE OF NAME CHANGE:	20070629

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BlackRock Preferred & Equity Advantage Trust
		DATE OF NAME CHANGE:	20061115
</SEC-HEADER>
<DOCUMENT>
<TYPE>N-CEN
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
<?xml version="1.0" encoding="UTF-8"?>
<edgarSubmission xmlns="http://www.sec.gov/edgar/ncen" xmlns:com="http://www.sec.gov/edgar/common">
  <schemaVersion>X0404</schemaVersion>
  <headerData>
    <submissionType>N-CEN</submissionType>
    <filerInfo>
      <liveTestFlag>LIVE</liveTestFlag>
      <filer>
        <issuerCredentials>
          <cik>0001379384</cik>
          <ccc>XXXXXXXX</ccc>
        </issuerCredentials>
        <fileNumber>811-21972</fileNumber>
      </filer>
      <flags>
        <returnCopyFlag>false</returnCopyFlag>
        <overrideInternetFlag>false</overrideInternetFlag>
        <confirmingCopyFlag>false</confirmingCopyFlag>
      </flags>
      <investmentCompanyType>N-2</investmentCompanyType>
    </filerInfo>
  </headerData>
  <formData>
    <generalInfo reportEndingPeriod="2021-12-31" isReportPeriodLt12="N"/>
    <registrantInfo>
      <registrantFullName>BlackRock Credit Allocation Income Trust</registrantFullName>
      <investmentCompFileNo>811-21972</investmentCompFileNo>
      <registrantCik>0001379384</registrantCik>
      <registrantLei>WU48CSUCFTU86AQUYZ93</registrantLei>
      <registrantstreet1>100 Bellevue Parkway</registrantstreet1>
      <registrantcity>Wilmington</registrantcity>
      <registrantzipCode>19809</registrantzipCode>
      <registrantstate>US-DE</registrantstate>
      <registrantcountry>US</registrantcountry>
      <registrantphoneNumber>800-441-7762</registrantphoneNumber>
      <websites>
        <website webpage="www.blackrock.com"/>
      </websites>
      <locationBooksRecords>
        <locationBooksRecord>
          <officeName>State Street Bank and Trust Company</officeName>
          <officeAddress1>1 Lincoln Street</officeAddress1>
          <officeCity>Boston</officeCity>
          <officeStateCountry officeCountry="US" officeState="US-MA"/>
          <officeRecordsZipCode>02111</officeRecordsZipCode>
          <officePhone>617-786-3000</officePhone>
          <booksRecordsDesc>Records related to its functions as custodian, sub-administrator and accounting agent</booksRecordsDesc>
        </locationBooksRecord>
        <locationBooksRecord>
          <officeName>BlackRock Investments, LLC</officeName>
          <officeAddress1>40 East 52nd St</officeAddress1>
          <officeCity>New York</officeCity>
          <officeStateCountry officeCountry="US" officeState="US-NY"/>
          <officeRecordsZipCode>10022</officeRecordsZipCode>
          <officePhone>609-282-3046</officePhone>
          <booksRecordsDesc>Records related to its functions as distributor</booksRecordsDesc>
        </locationBooksRecord>
        <locationBooksRecord>
          <officeName>BlackRock International Limited</officeName>
          <officeAddress1>1 Semple Street</officeAddress1>
          <officeCity>Edinburgh</officeCity>
          <officeCountry>GB</officeCountry>
          <officeRecordsZipCode>EH3 8BL</officeRecordsZipCode>
          <officePhone>44 131 472 7200</officePhone>
          <booksRecordsDesc>Records related to its functions as sub-advisor</booksRecordsDesc>
        </locationBooksRecord>
        <locationBooksRecord>
          <officeName>Computershare Trust Company, National Association</officeName>
          <officeAddress1>250 Royall Street</officeAddress1>
          <officeCity>Canton</officeCity>
          <officeStateCountry officeCountry="US" officeState="US-MA"/>
          <officeRecordsZipCode>02021</officeRecordsZipCode>
          <officePhone>781-575-2000</officePhone>
          <booksRecordsDesc>Records related to its functions as transfer agent</booksRecordsDesc>
        </locationBooksRecord>
        <locationBooksRecord>
          <officeName>BlackRock Advisors, LLC</officeName>
          <officeAddress1>100 Bellevue Parkway</officeAddress1>
          <officeCity>Wilmington</officeCity>
          <officeStateCountry officeCountry="US" officeState="US-DE"/>
          <officeRecordsZipCode>19809</officeRecordsZipCode>
          <officePhone>302-797-2000</officePhone>
          <booksRecordsDesc>Records related to its functions as advisor and administrator</booksRecordsDesc>
        </locationBooksRecord>
      </locationBooksRecords>
      <isRegistrantFirstFiling>N</isRegistrantFirstFiling>
      <isRegistrantLastFiling>N</isRegistrantLastFiling>
      <registrantFamilyInvComp isRegistrantFamilyInvComp="Y" familyInvCompFullName="BlackRock-advised Funds"/>
      <registrantClassificationType>N-2</registrantClassificationType>
      <isSecuritiesActRegistration>Y</isSecuritiesActRegistration>
      <directors>
        <director>
          <directorName>R. Glenn Hubbard</directorName>
          <crdNumber>N/A</crdNumber>
          <isDirectorInterestedPerson>N</isDirectorInterestedPerson>
          <fileNumbers>
            <fileNumberInfo fileNumber="811-21434"/>
            <fileNumberInfo fileNumber="811-23285"/>
            <fileNumberInfo fileNumber="811-21506"/>
            <fileNumberInfo fileNumber="811-06692"/>
            <fileNumberInfo fileNumber="811-06499"/>
            <fileNumberInfo fileNumber="811-04375"/>
            <fileNumberInfo fileNumber="811-22603"/>
            <fileNumberInfo fileNumber="811-07136"/>
            <fileNumberInfo fileNumber="811-22426"/>
            <fileNumberInfo fileNumber="811-08573"/>
            <fileNumberInfo fileNumber="811-21702"/>
            <fileNumberInfo fileNumber="811-23346"/>
            <fileNumberInfo fileNumber="811-22501"/>
            <fileNumberInfo fileNumber="811-06660"/>
            <fileNumberInfo fileNumber="811-23343"/>
            <fileNumberInfo fileNumber="811-23511"/>
            <fileNumberInfo fileNumber="811-06728"/>
            <fileNumberInfo fileNumber="811-23340"/>
            <fileNumberInfo fileNumber="811-23626"/>
            <fileNumberInfo fileNumber="811-21053"/>
            <fileNumberInfo fileNumber="811-22606"/>
            <fileNumberInfo fileNumber="811-05611"/>
            <fileNumberInfo fileNumber="811-07354"/>
            <fileNumberInfo fileNumber="811-23428"/>
            <fileNumberInfo fileNumber="811-21566"/>
            <fileNumberInfo fileNumber="811-22774"/>
            <fileNumberInfo fileNumber="811-02857"/>
            <fileNumberInfo fileNumber="811-10543"/>
            <fileNumberInfo fileNumber="811-21784"/>
            <fileNumberInfo fileNumber="811-08217"/>
            <fileNumberInfo fileNumber="811-10339"/>
            <fileNumberInfo fileNumber="811-06414"/>
            <fileNumberInfo fileNumber="811-07080"/>
            <fileNumberInfo fileNumber="811-08349"/>
            <fileNumberInfo fileNumber="811-08081"/>
            <fileNumberInfo fileNumber="811-21835"/>
            <fileNumberInfo fileNumber="811-23466"/>
            <fileNumberInfo fileNumber="811-07478"/>
            <fileNumberInfo fileNumber="811-09191"/>
            <fileNumberInfo fileNumber="811-21126"/>
            <fileNumberInfo fileNumber="811-23701"/>
            <fileNumberInfo fileNumber="811-06500"/>
            <fileNumberInfo fileNumber="811-07642"/>
            <fileNumberInfo fileNumber="811-10337"/>
            <fileNumberInfo fileNumber="811-23357"/>
            <fileNumberInfo fileNumber="811-23345"/>
            <fileNumberInfo fileNumber="811-04802"/>
            <fileNumberInfo fileNumber="811-21413"/>
            <fileNumberInfo fileNumber="811-21318"/>
            <fileNumberInfo fileNumber="811-05542"/>
            <fileNumberInfo fileNumber="811-23218"/>
            <fileNumberInfo fileNumber="811-10331"/>
            <fileNumberInfo fileNumber="811-21793"/>
            <fileNumberInfo fileNumber="811-21729"/>
            <fileNumberInfo fileNumber="811-23344"/>
            <fileNumberInfo fileNumber="811-23341"/>
            <fileNumberInfo fileNumber="811-21656"/>
            <fileNumberInfo fileNumber="811-02688"/>
            <fileNumberInfo fileNumber="811-22032"/>
            <fileNumberInfo fileNumber="811-08603"/>
            <fileNumberInfo fileNumber="811-23625"/>
            <fileNumberInfo fileNumber="811-21457"/>
            <fileNumberInfo fileNumber="811-21348"/>
            <fileNumberInfo fileNumber="811-23564"/>
            <fileNumberInfo fileNumber="811-23339"/>
            <fileNumberInfo fileNumber="811-08621"/>
            <fileNumberInfo fileNumber="811-21178"/>
            <fileNumberInfo fileNumber="811-05603"/>
            <fileNumberInfo fileNumber="811-22991"/>
            <fileNumberInfo fileNumber="811-04264"/>
            <fileNumberInfo fileNumber="811-06540"/>
            <fileNumberInfo fileNumber="811-21349"/>
            <fileNumberInfo fileNumber="811-06570"/>
          </fileNumbers>
        </director>
        <director>
          <directorName>John M. Perlowski</directorName>
          <crdNumber>N/A</crdNumber>
          <isDirectorInterestedPerson>Y</isDirectorInterestedPerson>
          <fileNumbers>
            <fileNumberInfo fileNumber="811-02809"/>
            <fileNumberInfo fileNumber="811-22606"/>
            <fileNumberInfo fileNumber="811-06660"/>
            <fileNumberInfo fileNumber="811-21759"/>
            <fileNumberInfo fileNumber="811-06414"/>
            <fileNumberInfo fileNumber="811-05723"/>
            <fileNumberInfo fileNumber="811-23466"/>
            <fileNumberInfo fileNumber="811-10337"/>
            <fileNumberInfo fileNumber="811-08603"/>
            <fileNumberInfo fileNumber="811-23626"/>
            <fileNumberInfo fileNumber="811-10339"/>
            <fileNumberInfo fileNumber="811-03189"/>
            <fileNumberInfo fileNumber="811-03290"/>
            <fileNumberInfo fileNumber="811-02661"/>
            <fileNumberInfo fileNumber="811-09637"/>
            <fileNumberInfo fileNumber="811-22501"/>
            <fileNumberInfo fileNumber="811-21793"/>
            <fileNumberInfo fileNumber="811-07899"/>
            <fileNumberInfo fileNumber="811-22426"/>
            <fileNumberInfo fileNumber="811-21729"/>
            <fileNumberInfo fileNumber="811-06570"/>
            <fileNumberInfo fileNumber="811-21126"/>
            <fileNumberInfo fileNumber="811-22774"/>
            <fileNumberInfo fileNumber="811-05603"/>
            <fileNumberInfo fileNumber="811-23339"/>
            <fileNumberInfo fileNumber="811-22603"/>
            <fileNumberInfo fileNumber="811-22991"/>
            <fileNumberInfo fileNumber="811-08217"/>
            <fileNumberInfo fileNumber="811-21656"/>
            <fileNumberInfo fileNumber="811-07642"/>
            <fileNumberInfo fileNumber="811-09651"/>
            <fileNumberInfo fileNumber="811-21413"/>
            <fileNumberInfo fileNumber="811-04282"/>
            <fileNumberInfo fileNumber="811-21318"/>
            <fileNumberInfo fileNumber="811-02739"/>
            <fileNumberInfo fileNumber="811-21434"/>
            <fileNumberInfo fileNumber="811-07332"/>
            <fileNumberInfo fileNumber="811-07136"/>
            <fileNumberInfo fileNumber="811-21566"/>
            <fileNumberInfo fileNumber="811-21349"/>
            <fileNumberInfo fileNumber="811-09191"/>
            <fileNumberInfo fileNumber="811-21702"/>
            <fileNumberInfo fileNumber="811-23428"/>
            <fileNumberInfo fileNumber="811-06728"/>
            <fileNumberInfo fileNumber="811-03091"/>
            <fileNumberInfo fileNumber="811-07478"/>
            <fileNumberInfo fileNumber="811-06669"/>
            <fileNumberInfo fileNumber="811-21763"/>
            <fileNumberInfo fileNumber="811-06349"/>
            <fileNumberInfo fileNumber="811-05611"/>
            <fileNumberInfo fileNumber="811-04802"/>
            <fileNumberInfo fileNumber="811-23625"/>
            <fileNumberInfo fileNumber="811-02688"/>
            <fileNumberInfo fileNumber="811-21506"/>
            <fileNumberInfo fileNumber="811-04612"/>
            <fileNumberInfo fileNumber="811-23584"/>
            <fileNumberInfo fileNumber="811-10331"/>
            <fileNumberInfo fileNumber="811-06500"/>
            <fileNumberInfo fileNumber="811-08081"/>
            <fileNumberInfo fileNumber="811-04375"/>
            <fileNumberInfo fileNumber="811-09739"/>
            <fileNumberInfo fileNumber="811-05542"/>
            <fileNumberInfo fileNumber="811-08797"/>
            <fileNumberInfo fileNumber="811-21053"/>
            <fileNumberInfo fileNumber="811-21835"/>
            <fileNumberInfo fileNumber="811-23218"/>
            <fileNumberInfo fileNumber="811-07177"/>
            <fileNumberInfo fileNumber="811-23380"/>
            <fileNumberInfo fileNumber="811-23346"/>
            <fileNumberInfo fileNumber="811-05178"/>
            <fileNumberInfo fileNumber="811-21178"/>
            <fileNumberInfo fileNumber="811-23341"/>
            <fileNumberInfo fileNumber="811-08621"/>
            <fileNumberInfo fileNumber="811-23340"/>
            <fileNumberInfo fileNumber="811-07080"/>
            <fileNumberInfo fileNumber="811-07885"/>
            <fileNumberInfo fileNumber="811-06499"/>
            <fileNumberInfo fileNumber="811-22061"/>
            <fileNumberInfo fileNumber="811-07171"/>
            <fileNumberInfo fileNumber="811-23343"/>
            <fileNumberInfo fileNumber="811-23564"/>
            <fileNumberInfo fileNumber="811-02354"/>
            <fileNumberInfo fileNumber="811-21784"/>
            <fileNumberInfo fileNumber="811-08573"/>
            <fileNumberInfo fileNumber="811-05576"/>
            <fileNumberInfo fileNumber="811-23285"/>
            <fileNumberInfo fileNumber="811-21457"/>
            <fileNumberInfo fileNumber="811-08349"/>
            <fileNumberInfo fileNumber="811-23402"/>
            <fileNumberInfo fileNumber="811-23701"/>
            <fileNumberInfo fileNumber="811-02857"/>
            <fileNumberInfo fileNumber="811-06692"/>
            <fileNumberInfo fileNumber="811-23344"/>
            <fileNumberInfo fileNumber="811-21348"/>
            <fileNumberInfo fileNumber="811-04264"/>
            <fileNumberInfo fileNumber="811-07354"/>
            <fileNumberInfo fileNumber="811-05742"/>
            <fileNumberInfo fileNumber="811-10543"/>
            <fileNumberInfo fileNumber="811-22032"/>
            <fileNumberInfo fileNumber="811-08162"/>
            <fileNumberInfo fileNumber="811-06540"/>
            <fileNumberInfo fileNumber="811-02405"/>
            <fileNumberInfo fileNumber="811-23511"/>
            <fileNumberInfo fileNumber="811-23345"/>
            <fileNumberInfo fileNumber="811-23357"/>
          </fileNumbers>
        </director>
        <director>
          <directorName>Stayce D. Harris</directorName>
          <crdNumber>N/A</crdNumber>
          <isDirectorInterestedPerson>N</isDirectorInterestedPerson>
          <fileNumbers>
            <fileNumberInfo fileNumber="811-21434"/>
            <fileNumberInfo fileNumber="811-22603"/>
            <fileNumberInfo fileNumber="811-23466"/>
            <fileNumberInfo fileNumber="811-06728"/>
            <fileNumberInfo fileNumber="811-23564"/>
            <fileNumberInfo fileNumber="811-23428"/>
            <fileNumberInfo fileNumber="811-09191"/>
            <fileNumberInfo fileNumber="811-10337"/>
            <fileNumberInfo fileNumber="811-21053"/>
            <fileNumberInfo fileNumber="811-21729"/>
            <fileNumberInfo fileNumber="811-23626"/>
            <fileNumberInfo fileNumber="811-08217"/>
            <fileNumberInfo fileNumber="811-22606"/>
            <fileNumberInfo fileNumber="811-04375"/>
            <fileNumberInfo fileNumber="811-23343"/>
            <fileNumberInfo fileNumber="811-21702"/>
            <fileNumberInfo fileNumber="811-08603"/>
            <fileNumberInfo fileNumber="811-23345"/>
            <fileNumberInfo fileNumber="811-08081"/>
            <fileNumberInfo fileNumber="811-08621"/>
            <fileNumberInfo fileNumber="811-02857"/>
            <fileNumberInfo fileNumber="811-08573"/>
            <fileNumberInfo fileNumber="811-22032"/>
            <fileNumberInfo fileNumber="811-06414"/>
            <fileNumberInfo fileNumber="811-21126"/>
            <fileNumberInfo fileNumber="811-07136"/>
            <fileNumberInfo fileNumber="811-23511"/>
            <fileNumberInfo fileNumber="811-23344"/>
            <fileNumberInfo fileNumber="811-21413"/>
            <fileNumberInfo fileNumber="811-06570"/>
            <fileNumberInfo fileNumber="811-21506"/>
            <fileNumberInfo fileNumber="811-23625"/>
            <fileNumberInfo fileNumber="811-23339"/>
            <fileNumberInfo fileNumber="811-23340"/>
            <fileNumberInfo fileNumber="811-23346"/>
            <fileNumberInfo fileNumber="811-07354"/>
            <fileNumberInfo fileNumber="811-04802"/>
            <fileNumberInfo fileNumber="811-10331"/>
            <fileNumberInfo fileNumber="811-21318"/>
            <fileNumberInfo fileNumber="811-06500"/>
            <fileNumberInfo fileNumber="811-23701"/>
            <fileNumberInfo fileNumber="811-06499"/>
            <fileNumberInfo fileNumber="811-06540"/>
            <fileNumberInfo fileNumber="811-04264"/>
            <fileNumberInfo fileNumber="811-02688"/>
            <fileNumberInfo fileNumber="811-21348"/>
            <fileNumberInfo fileNumber="811-21178"/>
            <fileNumberInfo fileNumber="811-08349"/>
            <fileNumberInfo fileNumber="811-22774"/>
            <fileNumberInfo fileNumber="811-06692"/>
            <fileNumberInfo fileNumber="811-05611"/>
            <fileNumberInfo fileNumber="811-22501"/>
            <fileNumberInfo fileNumber="811-23341"/>
            <fileNumberInfo fileNumber="811-22426"/>
            <fileNumberInfo fileNumber="811-10543"/>
            <fileNumberInfo fileNumber="811-10339"/>
            <fileNumberInfo fileNumber="811-21784"/>
            <fileNumberInfo fileNumber="811-21566"/>
            <fileNumberInfo fileNumber="811-07080"/>
            <fileNumberInfo fileNumber="811-05542"/>
            <fileNumberInfo fileNumber="811-23357"/>
            <fileNumberInfo fileNumber="811-07478"/>
            <fileNumberInfo fileNumber="811-21349"/>
            <fileNumberInfo fileNumber="811-23218"/>
            <fileNumberInfo fileNumber="811-05603"/>
            <fileNumberInfo fileNumber="811-06660"/>
            <fileNumberInfo fileNumber="811-21835"/>
            <fileNumberInfo fileNumber="811-21793"/>
            <fileNumberInfo fileNumber="811-23285"/>
            <fileNumberInfo fileNumber="811-21457"/>
            <fileNumberInfo fileNumber="811-07642"/>
            <fileNumberInfo fileNumber="811-22991"/>
            <fileNumberInfo fileNumber="811-21656"/>
          </fileNumbers>
        </director>
        <director>
          <directorName>Lorenzo A. Flores</directorName>
          <crdNumber>N/A</crdNumber>
          <isDirectorInterestedPerson>N</isDirectorInterestedPerson>
          <fileNumbers>
            <fileNumberInfo fileNumber="811-22501"/>
            <fileNumberInfo fileNumber="811-06660"/>
            <fileNumberInfo fileNumber="811-21434"/>
            <fileNumberInfo fileNumber="811-10543"/>
            <fileNumberInfo fileNumber="811-21506"/>
            <fileNumberInfo fileNumber="811-21413"/>
            <fileNumberInfo fileNumber="811-21729"/>
            <fileNumberInfo fileNumber="811-23285"/>
            <fileNumberInfo fileNumber="811-08217"/>
            <fileNumberInfo fileNumber="811-23626"/>
            <fileNumberInfo fileNumber="811-08603"/>
            <fileNumberInfo fileNumber="811-05603"/>
            <fileNumberInfo fileNumber="811-22991"/>
            <fileNumberInfo fileNumber="811-21566"/>
            <fileNumberInfo fileNumber="811-06540"/>
            <fileNumberInfo fileNumber="811-05542"/>
            <fileNumberInfo fileNumber="811-21126"/>
            <fileNumberInfo fileNumber="811-21656"/>
            <fileNumberInfo fileNumber="811-08621"/>
            <fileNumberInfo fileNumber="811-22606"/>
            <fileNumberInfo fileNumber="811-04264"/>
            <fileNumberInfo fileNumber="811-07642"/>
            <fileNumberInfo fileNumber="811-21702"/>
            <fileNumberInfo fileNumber="811-23218"/>
            <fileNumberInfo fileNumber="811-22426"/>
            <fileNumberInfo fileNumber="811-21835"/>
            <fileNumberInfo fileNumber="811-22603"/>
            <fileNumberInfo fileNumber="811-10339"/>
            <fileNumberInfo fileNumber="811-04375"/>
            <fileNumberInfo fileNumber="811-21793"/>
            <fileNumberInfo fileNumber="811-23357"/>
            <fileNumberInfo fileNumber="811-23428"/>
            <fileNumberInfo fileNumber="811-07354"/>
            <fileNumberInfo fileNumber="811-22774"/>
            <fileNumberInfo fileNumber="811-23339"/>
            <fileNumberInfo fileNumber="811-21349"/>
            <fileNumberInfo fileNumber="811-21318"/>
            <fileNumberInfo fileNumber="811-10331"/>
            <fileNumberInfo fileNumber="811-06692"/>
            <fileNumberInfo fileNumber="811-23344"/>
            <fileNumberInfo fileNumber="811-06414"/>
            <fileNumberInfo fileNumber="811-23701"/>
            <fileNumberInfo fileNumber="811-21348"/>
            <fileNumberInfo fileNumber="811-23345"/>
            <fileNumberInfo fileNumber="811-06499"/>
            <fileNumberInfo fileNumber="811-10337"/>
            <fileNumberInfo fileNumber="811-06570"/>
            <fileNumberInfo fileNumber="811-08573"/>
            <fileNumberInfo fileNumber="811-23511"/>
            <fileNumberInfo fileNumber="811-07080"/>
            <fileNumberInfo fileNumber="811-21053"/>
            <fileNumberInfo fileNumber="811-23341"/>
            <fileNumberInfo fileNumber="811-06728"/>
            <fileNumberInfo fileNumber="811-23343"/>
            <fileNumberInfo fileNumber="811-23466"/>
            <fileNumberInfo fileNumber="811-05611"/>
            <fileNumberInfo fileNumber="811-04802"/>
            <fileNumberInfo fileNumber="811-08081"/>
            <fileNumberInfo fileNumber="811-08349"/>
            <fileNumberInfo fileNumber="811-21457"/>
            <fileNumberInfo fileNumber="811-02688"/>
            <fileNumberInfo fileNumber="811-07478"/>
            <fileNumberInfo fileNumber="811-21178"/>
            <fileNumberInfo fileNumber="811-23625"/>
            <fileNumberInfo fileNumber="811-06500"/>
            <fileNumberInfo fileNumber="811-23340"/>
            <fileNumberInfo fileNumber="811-09191"/>
            <fileNumberInfo fileNumber="811-22032"/>
            <fileNumberInfo fileNumber="811-02857"/>
            <fileNumberInfo fileNumber="811-23564"/>
            <fileNumberInfo fileNumber="811-21784"/>
            <fileNumberInfo fileNumber="811-07136"/>
            <fileNumberInfo fileNumber="811-23346"/>
          </fileNumbers>
        </director>
        <director>
          <directorName>Cynthia L. Egan</directorName>
          <crdNumber>N/A</crdNumber>
          <isDirectorInterestedPerson>N</isDirectorInterestedPerson>
          <fileNumbers>
            <fileNumberInfo fileNumber="811-22991"/>
            <fileNumberInfo fileNumber="811-04375"/>
            <fileNumberInfo fileNumber="811-21835"/>
            <fileNumberInfo fileNumber="811-22603"/>
            <fileNumberInfo fileNumber="811-23564"/>
            <fileNumberInfo fileNumber="811-06500"/>
            <fileNumberInfo fileNumber="811-07642"/>
            <fileNumberInfo fileNumber="811-02857"/>
            <fileNumberInfo fileNumber="811-23341"/>
            <fileNumberInfo fileNumber="811-06414"/>
            <fileNumberInfo fileNumber="811-06499"/>
            <fileNumberInfo fileNumber="811-23511"/>
            <fileNumberInfo fileNumber="811-23345"/>
            <fileNumberInfo fileNumber="811-21318"/>
            <fileNumberInfo fileNumber="811-23466"/>
            <fileNumberInfo fileNumber="811-06692"/>
            <fileNumberInfo fileNumber="811-02688"/>
            <fileNumberInfo fileNumber="811-23357"/>
            <fileNumberInfo fileNumber="811-23626"/>
            <fileNumberInfo fileNumber="811-06570"/>
            <fileNumberInfo fileNumber="811-05603"/>
            <fileNumberInfo fileNumber="811-08573"/>
            <fileNumberInfo fileNumber="811-07354"/>
            <fileNumberInfo fileNumber="811-22032"/>
            <fileNumberInfo fileNumber="811-21784"/>
            <fileNumberInfo fileNumber="811-21349"/>
            <fileNumberInfo fileNumber="811-21413"/>
            <fileNumberInfo fileNumber="811-21793"/>
            <fileNumberInfo fileNumber="811-04802"/>
            <fileNumberInfo fileNumber="811-23285"/>
            <fileNumberInfo fileNumber="811-23625"/>
            <fileNumberInfo fileNumber="811-05542"/>
            <fileNumberInfo fileNumber="811-23339"/>
            <fileNumberInfo fileNumber="811-23701"/>
            <fileNumberInfo fileNumber="811-21729"/>
            <fileNumberInfo fileNumber="811-10339"/>
            <fileNumberInfo fileNumber="811-10331"/>
            <fileNumberInfo fileNumber="811-06540"/>
            <fileNumberInfo fileNumber="811-23343"/>
            <fileNumberInfo fileNumber="811-23344"/>
            <fileNumberInfo fileNumber="811-06660"/>
            <fileNumberInfo fileNumber="811-23346"/>
            <fileNumberInfo fileNumber="811-07478"/>
            <fileNumberInfo fileNumber="811-06728"/>
            <fileNumberInfo fileNumber="811-08217"/>
            <fileNumberInfo fileNumber="811-21178"/>
            <fileNumberInfo fileNumber="811-21434"/>
            <fileNumberInfo fileNumber="811-21506"/>
            <fileNumberInfo fileNumber="811-08603"/>
            <fileNumberInfo fileNumber="811-07136"/>
            <fileNumberInfo fileNumber="811-21566"/>
            <fileNumberInfo fileNumber="811-22426"/>
            <fileNumberInfo fileNumber="811-22501"/>
            <fileNumberInfo fileNumber="811-23428"/>
            <fileNumberInfo fileNumber="811-10543"/>
            <fileNumberInfo fileNumber="811-08621"/>
            <fileNumberInfo fileNumber="811-21656"/>
            <fileNumberInfo fileNumber="811-07080"/>
            <fileNumberInfo fileNumber="811-23218"/>
            <fileNumberInfo fileNumber="811-21348"/>
            <fileNumberInfo fileNumber="811-22774"/>
            <fileNumberInfo fileNumber="811-21457"/>
            <fileNumberInfo fileNumber="811-08081"/>
            <fileNumberInfo fileNumber="811-21126"/>
            <fileNumberInfo fileNumber="811-04264"/>
            <fileNumberInfo fileNumber="811-09191"/>
            <fileNumberInfo fileNumber="811-23340"/>
            <fileNumberInfo fileNumber="811-05611"/>
            <fileNumberInfo fileNumber="811-21702"/>
            <fileNumberInfo fileNumber="811-10337"/>
            <fileNumberInfo fileNumber="811-08349"/>
            <fileNumberInfo fileNumber="811-22606"/>
            <fileNumberInfo fileNumber="811-21053"/>
          </fileNumbers>
        </director>
        <director>
          <directorName>Frank J. Fabozzi</directorName>
          <crdNumber>N/A</crdNumber>
          <isDirectorInterestedPerson>N</isDirectorInterestedPerson>
          <fileNumbers>
            <fileNumberInfo fileNumber="811-04375"/>
            <fileNumberInfo fileNumber="811-23285"/>
            <fileNumberInfo fileNumber="811-07080"/>
            <fileNumberInfo fileNumber="811-10331"/>
            <fileNumberInfo fileNumber="811-06540"/>
            <fileNumberInfo fileNumber="811-22774"/>
            <fileNumberInfo fileNumber="811-07354"/>
            <fileNumberInfo fileNumber="811-22606"/>
            <fileNumberInfo fileNumber="811-22603"/>
            <fileNumberInfo fileNumber="811-07136"/>
            <fileNumberInfo fileNumber="811-23218"/>
            <fileNumberInfo fileNumber="811-21784"/>
            <fileNumberInfo fileNumber="811-23625"/>
            <fileNumberInfo fileNumber="811-23341"/>
            <fileNumberInfo fileNumber="811-23428"/>
            <fileNumberInfo fileNumber="811-08573"/>
            <fileNumberInfo fileNumber="811-08217"/>
            <fileNumberInfo fileNumber="811-05542"/>
            <fileNumberInfo fileNumber="811-08349"/>
            <fileNumberInfo fileNumber="811-23380"/>
            <fileNumberInfo fileNumber="811-21126"/>
            <fileNumberInfo fileNumber="811-10337"/>
            <fileNumberInfo fileNumber="811-06414"/>
            <fileNumberInfo fileNumber="811-10339"/>
            <fileNumberInfo fileNumber="811-21729"/>
            <fileNumberInfo fileNumber="811-23340"/>
            <fileNumberInfo fileNumber="811-06660"/>
            <fileNumberInfo fileNumber="811-06500"/>
            <fileNumberInfo fileNumber="811-22426"/>
            <fileNumberInfo fileNumber="811-23344"/>
            <fileNumberInfo fileNumber="811-21413"/>
            <fileNumberInfo fileNumber="811-09191"/>
            <fileNumberInfo fileNumber="811-21656"/>
            <fileNumberInfo fileNumber="811-23339"/>
            <fileNumberInfo fileNumber="811-07478"/>
            <fileNumberInfo fileNumber="811-21835"/>
            <fileNumberInfo fileNumber="811-23564"/>
            <fileNumberInfo fileNumber="811-23346"/>
            <fileNumberInfo fileNumber="811-21434"/>
            <fileNumberInfo fileNumber="811-06692"/>
            <fileNumberInfo fileNumber="811-23466"/>
            <fileNumberInfo fileNumber="811-22501"/>
            <fileNumberInfo fileNumber="811-10543"/>
            <fileNumberInfo fileNumber="811-21348"/>
            <fileNumberInfo fileNumber="811-04264"/>
            <fileNumberInfo fileNumber="811-08621"/>
            <fileNumberInfo fileNumber="811-21318"/>
            <fileNumberInfo fileNumber="811-02688"/>
            <fileNumberInfo fileNumber="811-21793"/>
            <fileNumberInfo fileNumber="811-06728"/>
            <fileNumberInfo fileNumber="811-21053"/>
            <fileNumberInfo fileNumber="811-23701"/>
            <fileNumberInfo fileNumber="811-21506"/>
            <fileNumberInfo fileNumber="811-21178"/>
            <fileNumberInfo fileNumber="811-22032"/>
            <fileNumberInfo fileNumber="811-21457"/>
            <fileNumberInfo fileNumber="811-23584"/>
            <fileNumberInfo fileNumber="811-04802"/>
            <fileNumberInfo fileNumber="811-05603"/>
            <fileNumberInfo fileNumber="811-21702"/>
            <fileNumberInfo fileNumber="811-23626"/>
            <fileNumberInfo fileNumber="811-21349"/>
            <fileNumberInfo fileNumber="811-21566"/>
            <fileNumberInfo fileNumber="811-02857"/>
            <fileNumberInfo fileNumber="811-05611"/>
            <fileNumberInfo fileNumber="811-23343"/>
            <fileNumberInfo fileNumber="811-06499"/>
            <fileNumberInfo fileNumber="811-23511"/>
            <fileNumberInfo fileNumber="811-07642"/>
            <fileNumberInfo fileNumber="811-08603"/>
            <fileNumberInfo fileNumber="811-23357"/>
            <fileNumberInfo fileNumber="811-08081"/>
            <fileNumberInfo fileNumber="811-06570"/>
            <fileNumberInfo fileNumber="811-23345"/>
            <fileNumberInfo fileNumber="811-22991"/>
          </fileNumbers>
        </director>
        <director>
          <directorName>Karen P. Robards</directorName>
          <crdNumber>N/A</crdNumber>
          <isDirectorInterestedPerson>N</isDirectorInterestedPerson>
          <fileNumbers>
            <fileNumberInfo fileNumber="811-21413"/>
            <fileNumberInfo fileNumber="811-06728"/>
            <fileNumberInfo fileNumber="811-23626"/>
            <fileNumberInfo fileNumber="811-07080"/>
            <fileNumberInfo fileNumber="811-06570"/>
            <fileNumberInfo fileNumber="811-23341"/>
            <fileNumberInfo fileNumber="811-08217"/>
            <fileNumberInfo fileNumber="811-22774"/>
            <fileNumberInfo fileNumber="811-23564"/>
            <fileNumberInfo fileNumber="811-23343"/>
            <fileNumberInfo fileNumber="811-04264"/>
            <fileNumberInfo fileNumber="811-09191"/>
            <fileNumberInfo fileNumber="811-06660"/>
            <fileNumberInfo fileNumber="811-04802"/>
            <fileNumberInfo fileNumber="811-08573"/>
            <fileNumberInfo fileNumber="811-07136"/>
            <fileNumberInfo fileNumber="811-22501"/>
            <fileNumberInfo fileNumber="811-23346"/>
            <fileNumberInfo fileNumber="811-06692"/>
            <fileNumberInfo fileNumber="811-10339"/>
            <fileNumberInfo fileNumber="811-06499"/>
            <fileNumberInfo fileNumber="811-07478"/>
            <fileNumberInfo fileNumber="811-07354"/>
            <fileNumberInfo fileNumber="811-21702"/>
            <fileNumberInfo fileNumber="811-23339"/>
            <fileNumberInfo fileNumber="811-21506"/>
            <fileNumberInfo fileNumber="811-04375"/>
            <fileNumberInfo fileNumber="811-21784"/>
            <fileNumberInfo fileNumber="811-21053"/>
            <fileNumberInfo fileNumber="811-22603"/>
            <fileNumberInfo fileNumber="811-21349"/>
            <fileNumberInfo fileNumber="811-07642"/>
            <fileNumberInfo fileNumber="811-06540"/>
            <fileNumberInfo fileNumber="811-21566"/>
            <fileNumberInfo fileNumber="811-10331"/>
            <fileNumberInfo fileNumber="811-21835"/>
            <fileNumberInfo fileNumber="811-10543"/>
            <fileNumberInfo fileNumber="811-21126"/>
            <fileNumberInfo fileNumber="811-08621"/>
            <fileNumberInfo fileNumber="811-21178"/>
            <fileNumberInfo fileNumber="811-22991"/>
            <fileNumberInfo fileNumber="811-23340"/>
            <fileNumberInfo fileNumber="811-21318"/>
            <fileNumberInfo fileNumber="811-23625"/>
            <fileNumberInfo fileNumber="811-08349"/>
            <fileNumberInfo fileNumber="811-22606"/>
            <fileNumberInfo fileNumber="811-08603"/>
            <fileNumberInfo fileNumber="811-05603"/>
            <fileNumberInfo fileNumber="811-23344"/>
            <fileNumberInfo fileNumber="811-21457"/>
            <fileNumberInfo fileNumber="811-23511"/>
            <fileNumberInfo fileNumber="811-23345"/>
            <fileNumberInfo fileNumber="811-02688"/>
            <fileNumberInfo fileNumber="811-22032"/>
            <fileNumberInfo fileNumber="811-21348"/>
            <fileNumberInfo fileNumber="811-21434"/>
            <fileNumberInfo fileNumber="811-23466"/>
            <fileNumberInfo fileNumber="811-05542"/>
            <fileNumberInfo fileNumber="811-05611"/>
            <fileNumberInfo fileNumber="811-08081"/>
            <fileNumberInfo fileNumber="811-06500"/>
            <fileNumberInfo fileNumber="811-10337"/>
            <fileNumberInfo fileNumber="811-23357"/>
            <fileNumberInfo fileNumber="811-21729"/>
            <fileNumberInfo fileNumber="811-21793"/>
            <fileNumberInfo fileNumber="811-21656"/>
            <fileNumberInfo fileNumber="811-23701"/>
            <fileNumberInfo fileNumber="811-06414"/>
            <fileNumberInfo fileNumber="811-23218"/>
            <fileNumberInfo fileNumber="811-22426"/>
            <fileNumberInfo fileNumber="811-23428"/>
            <fileNumberInfo fileNumber="811-02857"/>
            <fileNumberInfo fileNumber="811-23285"/>
          </fileNumbers>
        </director>
        <director>
          <directorName>W. Carl Kester</directorName>
          <crdNumber>N/A</crdNumber>
          <isDirectorInterestedPerson>N</isDirectorInterestedPerson>
          <fileNumbers>
            <fileNumberInfo fileNumber="811-22032"/>
            <fileNumberInfo fileNumber="811-23626"/>
            <fileNumberInfo fileNumber="811-23341"/>
            <fileNumberInfo fileNumber="811-07642"/>
            <fileNumberInfo fileNumber="811-07136"/>
            <fileNumberInfo fileNumber="811-02688"/>
            <fileNumberInfo fileNumber="811-22603"/>
            <fileNumberInfo fileNumber="811-07354"/>
            <fileNumberInfo fileNumber="811-08621"/>
            <fileNumberInfo fileNumber="811-06728"/>
            <fileNumberInfo fileNumber="811-08603"/>
            <fileNumberInfo fileNumber="811-05611"/>
            <fileNumberInfo fileNumber="811-23218"/>
            <fileNumberInfo fileNumber="811-23428"/>
            <fileNumberInfo fileNumber="811-21318"/>
            <fileNumberInfo fileNumber="811-22426"/>
            <fileNumberInfo fileNumber="811-21126"/>
            <fileNumberInfo fileNumber="811-10339"/>
            <fileNumberInfo fileNumber="811-08349"/>
            <fileNumberInfo fileNumber="811-23511"/>
            <fileNumberInfo fileNumber="811-05603"/>
            <fileNumberInfo fileNumber="811-21053"/>
            <fileNumberInfo fileNumber="811-22991"/>
            <fileNumberInfo fileNumber="811-09191"/>
            <fileNumberInfo fileNumber="811-21434"/>
            <fileNumberInfo fileNumber="811-08573"/>
            <fileNumberInfo fileNumber="811-10543"/>
            <fileNumberInfo fileNumber="811-23701"/>
            <fileNumberInfo fileNumber="811-23466"/>
            <fileNumberInfo fileNumber="811-21566"/>
            <fileNumberInfo fileNumber="811-22606"/>
            <fileNumberInfo fileNumber="811-07478"/>
            <fileNumberInfo fileNumber="811-22774"/>
            <fileNumberInfo fileNumber="811-21835"/>
            <fileNumberInfo fileNumber="811-23345"/>
            <fileNumberInfo fileNumber="811-06500"/>
            <fileNumberInfo fileNumber="811-21348"/>
            <fileNumberInfo fileNumber="811-06499"/>
            <fileNumberInfo fileNumber="811-04375"/>
            <fileNumberInfo fileNumber="811-23339"/>
            <fileNumberInfo fileNumber="811-23343"/>
            <fileNumberInfo fileNumber="811-23625"/>
            <fileNumberInfo fileNumber="811-23357"/>
            <fileNumberInfo fileNumber="811-23564"/>
            <fileNumberInfo fileNumber="811-22501"/>
            <fileNumberInfo fileNumber="811-23380"/>
            <fileNumberInfo fileNumber="811-06540"/>
            <fileNumberInfo fileNumber="811-02857"/>
            <fileNumberInfo fileNumber="811-08081"/>
            <fileNumberInfo fileNumber="811-06570"/>
            <fileNumberInfo fileNumber="811-23285"/>
            <fileNumberInfo fileNumber="811-21413"/>
            <fileNumberInfo fileNumber="811-06692"/>
            <fileNumberInfo fileNumber="811-21349"/>
            <fileNumberInfo fileNumber="811-07080"/>
            <fileNumberInfo fileNumber="811-08217"/>
            <fileNumberInfo fileNumber="811-10337"/>
            <fileNumberInfo fileNumber="811-04264"/>
            <fileNumberInfo fileNumber="811-21793"/>
            <fileNumberInfo fileNumber="811-23340"/>
            <fileNumberInfo fileNumber="811-23584"/>
            <fileNumberInfo fileNumber="811-05542"/>
            <fileNumberInfo fileNumber="811-21702"/>
            <fileNumberInfo fileNumber="811-21506"/>
            <fileNumberInfo fileNumber="811-10331"/>
            <fileNumberInfo fileNumber="811-21178"/>
            <fileNumberInfo fileNumber="811-04802"/>
            <fileNumberInfo fileNumber="811-06660"/>
            <fileNumberInfo fileNumber="811-21457"/>
            <fileNumberInfo fileNumber="811-21656"/>
            <fileNumberInfo fileNumber="811-21784"/>
            <fileNumberInfo fileNumber="811-23344"/>
            <fileNumberInfo fileNumber="811-06414"/>
            <fileNumberInfo fileNumber="811-23346"/>
            <fileNumberInfo fileNumber="811-21729"/>
          </fileNumbers>
        </director>
        <director>
          <directorName>J. Phillip Holloman</directorName>
          <crdNumber>N/A</crdNumber>
          <isDirectorInterestedPerson>N</isDirectorInterestedPerson>
          <fileNumbers>
            <fileNumberInfo fileNumber="811-23343"/>
            <fileNumberInfo fileNumber="811-23285"/>
            <fileNumberInfo fileNumber="811-23345"/>
            <fileNumberInfo fileNumber="811-21656"/>
            <fileNumberInfo fileNumber="811-21506"/>
            <fileNumberInfo fileNumber="811-04375"/>
            <fileNumberInfo fileNumber="811-23428"/>
            <fileNumberInfo fileNumber="811-21729"/>
            <fileNumberInfo fileNumber="811-21784"/>
            <fileNumberInfo fileNumber="811-06499"/>
            <fileNumberInfo fileNumber="811-09191"/>
            <fileNumberInfo fileNumber="811-22603"/>
            <fileNumberInfo fileNumber="811-04802"/>
            <fileNumberInfo fileNumber="811-07354"/>
            <fileNumberInfo fileNumber="811-23340"/>
            <fileNumberInfo fileNumber="811-04264"/>
            <fileNumberInfo fileNumber="811-22774"/>
            <fileNumberInfo fileNumber="811-21702"/>
            <fileNumberInfo fileNumber="811-06692"/>
            <fileNumberInfo fileNumber="811-05542"/>
            <fileNumberInfo fileNumber="811-23218"/>
            <fileNumberInfo fileNumber="811-05603"/>
            <fileNumberInfo fileNumber="811-10337"/>
            <fileNumberInfo fileNumber="811-22606"/>
            <fileNumberInfo fileNumber="811-06728"/>
            <fileNumberInfo fileNumber="811-21835"/>
            <fileNumberInfo fileNumber="811-23341"/>
            <fileNumberInfo fileNumber="811-07136"/>
            <fileNumberInfo fileNumber="811-06540"/>
            <fileNumberInfo fileNumber="811-23511"/>
            <fileNumberInfo fileNumber="811-22501"/>
            <fileNumberInfo fileNumber="811-07080"/>
            <fileNumberInfo fileNumber="811-23701"/>
            <fileNumberInfo fileNumber="811-21318"/>
            <fileNumberInfo fileNumber="811-21349"/>
            <fileNumberInfo fileNumber="811-21413"/>
            <fileNumberInfo fileNumber="811-23357"/>
            <fileNumberInfo fileNumber="811-23626"/>
            <fileNumberInfo fileNumber="811-22991"/>
            <fileNumberInfo fileNumber="811-05611"/>
            <fileNumberInfo fileNumber="811-23339"/>
            <fileNumberInfo fileNumber="811-02688"/>
            <fileNumberInfo fileNumber="811-21566"/>
            <fileNumberInfo fileNumber="811-23346"/>
            <fileNumberInfo fileNumber="811-06414"/>
            <fileNumberInfo fileNumber="811-23564"/>
            <fileNumberInfo fileNumber="811-02857"/>
            <fileNumberInfo fileNumber="811-21348"/>
            <fileNumberInfo fileNumber="811-08603"/>
            <fileNumberInfo fileNumber="811-08349"/>
            <fileNumberInfo fileNumber="811-08573"/>
            <fileNumberInfo fileNumber="811-10339"/>
            <fileNumberInfo fileNumber="811-08217"/>
            <fileNumberInfo fileNumber="811-21457"/>
            <fileNumberInfo fileNumber="811-21434"/>
            <fileNumberInfo fileNumber="811-23625"/>
            <fileNumberInfo fileNumber="811-23466"/>
            <fileNumberInfo fileNumber="811-06570"/>
            <fileNumberInfo fileNumber="811-08621"/>
            <fileNumberInfo fileNumber="811-22032"/>
            <fileNumberInfo fileNumber="811-21178"/>
            <fileNumberInfo fileNumber="811-08081"/>
            <fileNumberInfo fileNumber="811-23344"/>
            <fileNumberInfo fileNumber="811-21053"/>
            <fileNumberInfo fileNumber="811-07478"/>
            <fileNumberInfo fileNumber="811-07642"/>
            <fileNumberInfo fileNumber="811-21126"/>
            <fileNumberInfo fileNumber="811-22426"/>
            <fileNumberInfo fileNumber="811-06660"/>
            <fileNumberInfo fileNumber="811-06500"/>
            <fileNumberInfo fileNumber="811-10331"/>
            <fileNumberInfo fileNumber="811-21793"/>
            <fileNumberInfo fileNumber="811-10543"/>
          </fileNumbers>
        </director>
        <director>
          <directorName>Catherine A. Lynch</directorName>
          <crdNumber>N/A</crdNumber>
          <isDirectorInterestedPerson>N</isDirectorInterestedPerson>
          <fileNumbers>
            <fileNumberInfo fileNumber="811-23625"/>
            <fileNumberInfo fileNumber="811-21434"/>
            <fileNumberInfo fileNumber="811-21126"/>
            <fileNumberInfo fileNumber="811-05603"/>
            <fileNumberInfo fileNumber="811-02857"/>
            <fileNumberInfo fileNumber="811-23380"/>
            <fileNumberInfo fileNumber="811-21835"/>
            <fileNumberInfo fileNumber="811-21506"/>
            <fileNumberInfo fileNumber="811-22991"/>
            <fileNumberInfo fileNumber="811-08621"/>
            <fileNumberInfo fileNumber="811-02688"/>
            <fileNumberInfo fileNumber="811-21349"/>
            <fileNumberInfo fileNumber="811-22774"/>
            <fileNumberInfo fileNumber="811-06692"/>
            <fileNumberInfo fileNumber="811-23511"/>
            <fileNumberInfo fileNumber="811-23343"/>
            <fileNumberInfo fileNumber="811-07478"/>
            <fileNumberInfo fileNumber="811-23564"/>
            <fileNumberInfo fileNumber="811-08573"/>
            <fileNumberInfo fileNumber="811-09191"/>
            <fileNumberInfo fileNumber="811-22501"/>
            <fileNumberInfo fileNumber="811-10331"/>
            <fileNumberInfo fileNumber="811-05611"/>
            <fileNumberInfo fileNumber="811-07080"/>
            <fileNumberInfo fileNumber="811-23345"/>
            <fileNumberInfo fileNumber="811-04375"/>
            <fileNumberInfo fileNumber="811-08081"/>
            <fileNumberInfo fileNumber="811-23341"/>
            <fileNumberInfo fileNumber="811-23428"/>
            <fileNumberInfo fileNumber="811-21457"/>
            <fileNumberInfo fileNumber="811-07642"/>
            <fileNumberInfo fileNumber="811-08217"/>
            <fileNumberInfo fileNumber="811-21656"/>
            <fileNumberInfo fileNumber="811-21318"/>
            <fileNumberInfo fileNumber="811-06414"/>
            <fileNumberInfo fileNumber="811-22606"/>
            <fileNumberInfo fileNumber="811-21702"/>
            <fileNumberInfo fileNumber="811-10543"/>
            <fileNumberInfo fileNumber="811-08603"/>
            <fileNumberInfo fileNumber="811-21053"/>
            <fileNumberInfo fileNumber="811-21566"/>
            <fileNumberInfo fileNumber="811-06499"/>
            <fileNumberInfo fileNumber="811-10337"/>
            <fileNumberInfo fileNumber="811-22426"/>
            <fileNumberInfo fileNumber="811-23340"/>
            <fileNumberInfo fileNumber="811-05542"/>
            <fileNumberInfo fileNumber="811-22603"/>
            <fileNumberInfo fileNumber="811-23218"/>
            <fileNumberInfo fileNumber="811-21348"/>
            <fileNumberInfo fileNumber="811-23344"/>
            <fileNumberInfo fileNumber="811-08349"/>
            <fileNumberInfo fileNumber="811-23357"/>
            <fileNumberInfo fileNumber="811-21784"/>
            <fileNumberInfo fileNumber="811-06570"/>
            <fileNumberInfo fileNumber="811-06540"/>
            <fileNumberInfo fileNumber="811-23466"/>
            <fileNumberInfo fileNumber="811-06728"/>
            <fileNumberInfo fileNumber="811-23584"/>
            <fileNumberInfo fileNumber="811-06660"/>
            <fileNumberInfo fileNumber="811-06500"/>
            <fileNumberInfo fileNumber="811-23626"/>
            <fileNumberInfo fileNumber="811-10339"/>
            <fileNumberInfo fileNumber="811-07354"/>
            <fileNumberInfo fileNumber="811-04264"/>
            <fileNumberInfo fileNumber="811-04802"/>
            <fileNumberInfo fileNumber="811-23285"/>
            <fileNumberInfo fileNumber="811-23339"/>
            <fileNumberInfo fileNumber="811-21793"/>
            <fileNumberInfo fileNumber="811-07136"/>
            <fileNumberInfo fileNumber="811-23701"/>
            <fileNumberInfo fileNumber="811-22032"/>
            <fileNumberInfo fileNumber="811-21178"/>
            <fileNumberInfo fileNumber="811-23346"/>
            <fileNumberInfo fileNumber="811-21729"/>
            <fileNumberInfo fileNumber="811-21413"/>
          </fileNumbers>
        </director>
        <director>
          <directorName>Robert Fairbairn</directorName>
          <crdNumber>004992372</crdNumber>
          <isDirectorInterestedPerson>Y</isDirectorInterestedPerson>
          <fileNumbers>
            <fileNumberInfo fileNumber="811-21178"/>
            <fileNumberInfo fileNumber="811-06414"/>
            <fileNumberInfo fileNumber="811-04375"/>
            <fileNumberInfo fileNumber="811-03091"/>
            <fileNumberInfo fileNumber="811-04612"/>
            <fileNumberInfo fileNumber="811-21348"/>
            <fileNumberInfo fileNumber="811-23218"/>
            <fileNumberInfo fileNumber="811-23346"/>
            <fileNumberInfo fileNumber="811-21784"/>
            <fileNumberInfo fileNumber="811-21457"/>
            <fileNumberInfo fileNumber="811-23357"/>
            <fileNumberInfo fileNumber="811-02354"/>
            <fileNumberInfo fileNumber="811-07332"/>
            <fileNumberInfo fileNumber="811-22032"/>
            <fileNumberInfo fileNumber="811-07177"/>
            <fileNumberInfo fileNumber="811-07136"/>
            <fileNumberInfo fileNumber="811-07899"/>
            <fileNumberInfo fileNumber="811-23285"/>
            <fileNumberInfo fileNumber="811-07642"/>
            <fileNumberInfo fileNumber="811-04282"/>
            <fileNumberInfo fileNumber="811-02809"/>
            <fileNumberInfo fileNumber="811-06499"/>
            <fileNumberInfo fileNumber="811-05611"/>
            <fileNumberInfo fileNumber="811-23625"/>
            <fileNumberInfo fileNumber="811-08349"/>
            <fileNumberInfo fileNumber="811-23428"/>
            <fileNumberInfo fileNumber="811-08621"/>
            <fileNumberInfo fileNumber="811-22606"/>
            <fileNumberInfo fileNumber="811-05742"/>
            <fileNumberInfo fileNumber="811-23466"/>
            <fileNumberInfo fileNumber="811-09651"/>
            <fileNumberInfo fileNumber="811-21434"/>
            <fileNumberInfo fileNumber="811-23341"/>
            <fileNumberInfo fileNumber="811-06500"/>
            <fileNumberInfo fileNumber="811-23343"/>
            <fileNumberInfo fileNumber="811-06349"/>
            <fileNumberInfo fileNumber="811-23339"/>
            <fileNumberInfo fileNumber="811-21656"/>
            <fileNumberInfo fileNumber="811-10543"/>
            <fileNumberInfo fileNumber="811-06692"/>
            <fileNumberInfo fileNumber="811-22501"/>
            <fileNumberInfo fileNumber="811-21566"/>
            <fileNumberInfo fileNumber="811-02661"/>
            <fileNumberInfo fileNumber="811-06570"/>
            <fileNumberInfo fileNumber="811-09191"/>
            <fileNumberInfo fileNumber="811-07171"/>
            <fileNumberInfo fileNumber="811-21702"/>
            <fileNumberInfo fileNumber="811-06540"/>
            <fileNumberInfo fileNumber="811-07478"/>
            <fileNumberInfo fileNumber="811-07354"/>
            <fileNumberInfo fileNumber="811-10337"/>
            <fileNumberInfo fileNumber="811-05576"/>
            <fileNumberInfo fileNumber="811-09637"/>
            <fileNumberInfo fileNumber="811-21793"/>
            <fileNumberInfo fileNumber="811-21835"/>
            <fileNumberInfo fileNumber="811-07885"/>
            <fileNumberInfo fileNumber="811-08573"/>
            <fileNumberInfo fileNumber="811-23511"/>
            <fileNumberInfo fileNumber="811-21318"/>
            <fileNumberInfo fileNumber="811-10339"/>
            <fileNumberInfo fileNumber="811-21759"/>
            <fileNumberInfo fileNumber="811-22603"/>
            <fileNumberInfo fileNumber="811-05178"/>
            <fileNumberInfo fileNumber="811-21053"/>
            <fileNumberInfo fileNumber="811-23345"/>
            <fileNumberInfo fileNumber="811-21506"/>
            <fileNumberInfo fileNumber="811-05603"/>
            <fileNumberInfo fileNumber="811-21413"/>
            <fileNumberInfo fileNumber="811-08081"/>
            <fileNumberInfo fileNumber="811-23626"/>
            <fileNumberInfo fileNumber="811-21349"/>
            <fileNumberInfo fileNumber="811-05542"/>
            <fileNumberInfo fileNumber="811-02405"/>
            <fileNumberInfo fileNumber="811-04802"/>
            <fileNumberInfo fileNumber="811-02739"/>
            <fileNumberInfo fileNumber="811-23564"/>
            <fileNumberInfo fileNumber="811-23701"/>
            <fileNumberInfo fileNumber="811-21729"/>
            <fileNumberInfo fileNumber="811-06660"/>
            <fileNumberInfo fileNumber="811-09739"/>
            <fileNumberInfo fileNumber="811-03290"/>
            <fileNumberInfo fileNumber="811-22774"/>
            <fileNumberInfo fileNumber="811-22061"/>
            <fileNumberInfo fileNumber="811-22991"/>
            <fileNumberInfo fileNumber="811-07080"/>
            <fileNumberInfo fileNumber="811-21763"/>
            <fileNumberInfo fileNumber="811-08797"/>
            <fileNumberInfo fileNumber="811-23340"/>
            <fileNumberInfo fileNumber="811-02857"/>
            <fileNumberInfo fileNumber="811-22426"/>
            <fileNumberInfo fileNumber="811-04264"/>
            <fileNumberInfo fileNumber="811-23402"/>
            <fileNumberInfo fileNumber="811-02688"/>
            <fileNumberInfo fileNumber="811-05723"/>
            <fileNumberInfo fileNumber="811-08162"/>
            <fileNumberInfo fileNumber="811-06728"/>
            <fileNumberInfo fileNumber="811-23344"/>
            <fileNumberInfo fileNumber="811-21126"/>
            <fileNumberInfo fileNumber="811-08217"/>
            <fileNumberInfo fileNumber="811-06669"/>
            <fileNumberInfo fileNumber="811-08603"/>
            <fileNumberInfo fileNumber="811-10331"/>
            <fileNumberInfo fileNumber="811-03189"/>
          </fileNumbers>
        </director>
      </directors>
      <chiefComplianceOfficers>
        <chiefComplianceOfficer>
          <ccoName>Charles Park</ccoName>
          <crdNumber>N/A</crdNumber>
          <ccoStreet1>55 East 52nd Street</ccoStreet1>
          <ccoCity>New York</ccoCity>
          <ccoStateCountry ccoCountry="US" ccoState="US-NY"/>
          <ccoZipCode>10055</ccoZipCode>
          <ccoPhone>XXXXXX</ccoPhone>
          <isCcoChangedSinceLastFiling>N</isCcoChangedSinceLastFiling>
          <ccoEmployers>
            <ccoEmployer ccoEmployerName="N/A" ccoEmployerId="N/A"/>
          </ccoEmployers>
        </chiefComplianceOfficer>
      </chiefComplianceOfficers>
      <securityMatterSeriesInfo isRegistrantSubmittedMatter="Y">
        <seriesInfo seriesName="N/A" seriesId="N/A"/>
      </securityMatterSeriesInfo>
      <isPreviousLegalProceeding>N</isPreviousLegalProceeding>
      <isPreviousProceedingTerminated>N</isPreviousProceedingTerminated>
      <isClaimFiled>N</isClaimFiled>
      <coveredByInsurancePolicy isCoveredByInsurancePolicy="Y" isClaimFiledDuringPeriod="N"/>
      <isFinancialSupportDuringPeriod>N</isFinancialSupportDuringPeriod>
      <releaseNumbers isExemptionFromAct="Y">
        <releaseNumberInfo releaseNumber="IC-28719"/>
        <releaseNumberInfo releaseNumber="IC-25100"/>
      </releaseNumbers>
      <principalUnderwriters>
        <principalUnderwriter>
          <principalUnderwriterName>BlackRock Investments, LLC</principalUnderwriterName>
          <principalUnderwriterFileNumber>8-48436</principalUnderwriterFileNumber>
          <principalUnderwriterCrdNumber>000038642</principalUnderwriterCrdNumber>
          <principalUnderwriterLei>54930061FBHCKXL2G714</principalUnderwriterLei>
          <principalUnderWriterStateCountry principalUnderWriterCountry="US" principalUnderWriterState="US-NY"/>
          <isPrincipalUnderwriterAffiliatedWithRegistrant>Y</isPrincipalUnderwriterAffiliatedWithRegistrant>
        </principalUnderwriter>
      </principalUnderwriters>
      <isUnderwriterHiredOrTerminated>N</isUnderwriterHiredOrTerminated>
      <publicAccountants>
        <publicAccountant>
          <publicAccountantName>Deloitte &amp; Touche LLP</publicAccountantName>
          <pcaobNumber>34</pcaobNumber>
          <publicAccountantLei>00000000000000000000</publicAccountantLei>
          <publicAccountantStateCountry publicAccountantCountry="US" publicAccountantState="US-MA"/>
        </publicAccountant>
      </publicAccountants>
      <isPublicAccountantChanged>N</isPublicAccountantChanged>
      <isMaterialWeakness>N</isMaterialWeakness>
      <isOpinionOffered>N</isOpinionOffered>
      <isMaterialChange>N</isMaterialChange>
      <isAccountingPrincipleChange>N</isAccountingPrincipleChange>
      <paymentDividendSeries isPaymentDividend="Y">
        <seriesInfo seriesName="N/A" seriesId="N/A"/>
      </paymentDividendSeries>
    </registrantInfo>
    <managementInvestmentQuestionSeriesInfo>
      <managementInvestmentQuestion>
        <mgmtInvFundName>BlackRock Credit Allocation Income Trust</mgmtInvFundName>
        <mgmtInvLei>WU48CSUCFTU86AQUYZ93</mgmtInvLei>
        <isFirstFilingByFund>N</isFirstFilingByFund>
        <numAuthorizedClass>0</numAuthorizedClass>
        <numAddedClass>0</numAddedClass>
        <numTerminatedClass>0</numTerminatedClass>
        <fundType>N/A</fundType>
        <isNonDiversifiedCompany>N</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>Y</isFundSecuritiesLending>
        <didFundLendSecurities>N</didFundLendSecurities>
        <securityLendings>
          <securityLending>
            <securitiesAgentName>BlackRock Investment Management, LLC</securitiesAgentName>
            <securitiesAgentLei>5493006MRTEZZ4S4CQ20</securitiesAgentLei>
            <isSecuritiesAgentAffiliated>Y</isSecuritiesAgentAffiliated>
            <securityAgentIdemnity isSecurityAgentIdemnity="Y">
              <idemnityProviders>
                <idemnityProvider idemnityProviderName="N/A" idemnityProviderLei="N/A"/>
              </idemnityProviders>
              <didIndemnificationRights>N</didIndemnificationRights>
            </securityAgentIdemnity>
          </securityLending>
        </securityLendings>
        <paymentToAgentManagers>
          <paymentToAgentManagerType>Revenue sharing split</paymentToAgentManagerType>
          <paymentToAgentManagerType>Other</paymentToAgentManagerType>
          <paymentToAgentManagerType>Cash collateral reinvestment fee</paymentToAgentManagerType>
          <otherFeeDesc>Rebates paid to borrowers</otherFeeDesc>
        </paymentToAgentManagers>
        <avgPortfolioSecuritiesValue>N/A</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>N/A</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
          <relyOnRuleType>Rule 17a-7 (17 CFR 270.17a-7)</relyOnRuleType>
          <relyOnRuleType>Rule 12d1-1 (17 CFR 270.12d1-1)</relyOnRuleType>
        </relyOnRuleTypes>
        <isExpenseLimitationInPlace>Y</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>Y</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>N</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>BlackRock Advisors, LLC</investmentAdviserName>
            <investmentAdviserFileNo>801-47710</investmentAdviserFileNo>
            <investmentAdviserCrdNo>000106614</investmentAdviserCrdNo>
            <investmentAdviserLei>5493001LN9MRM6A35J74</investmentAdviserLei>
            <investmentAdviserStateCountry investmentAdviserState="US-DE" investmentAdviserCountry="US"/>
            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
          </investmentAdviser>
        </investmentAdvisers>
        <subAdvisers>
          <subAdviser>
            <subAdviserName>BlackRock International Limited</subAdviserName>
            <subAdviserFileNo>801-51087</subAdviserFileNo>
            <subAdviserCrdNo>000106843</subAdviserCrdNo>
            <subAdviserLei>5493008YUGP5E01IBD70</subAdviserLei>
            <isSubAdviserAffiliated>Y</isSubAdviserAffiliated>
            <subAdviserCountry>GB</subAdviserCountry>
            <isSubAdviserHired>N</isSubAdviserHired>
          </subAdviser>
        </subAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>Computershare Trust Company, National Association</transferAgentName>
            <transferAgentFileNo>85-11340</transferAgentFileNo>
            <transferAgentLei>2549001YYB62BVMSAO13</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-MA" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>N</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>IHS Markit Ltd.</pricingServiceName>
            <pricingServiceLei>549300HLPTRASHS0E726</pricingServiceLei>
            <pricingServiceCountry>GB</pricingServiceCountry>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>ICE Data Services, Inc.</pricingServiceName>
            <pricingServiceLei>13-3668779</pricingServiceLei>
            <pricingServiceIdNumberDesc>Tax ID</pricingServiceIdNumberDesc>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Refinitiv US Holdings Inc.</pricingServiceName>
            <pricingServiceLei>549300NF240HXJO7N016</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Bloomberg L.P.</pricingServiceName>
            <pricingServiceLei>549300B56MD0ZC402L06</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>Bank Handlowy w Warszawie Spolka Akcyjna</custodianName>
            <custodianLei>XLEZHWWOI4HFQDGL4793</custodianLei>
            <custodianCountry>PL</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Citibank del Peru S.A.</custodianName>
            <custodianLei>MYTK5NHHP1G8TVFGT193</custodianLei>
            <custodianCountry>PE</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Banco Nacional de Mexico, S.A., Integrante del Grupo Financiero Banamex</custodianName>
            <custodianLei>2SFFM4FUIE05S37WFU55</custodianLei>
            <custodianCountry>MX</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Morgan Stanley &amp; Co. LLC</custodianName>
            <custodianLei>9R7GPTSO7KV3UQJZQ078</custodianLei>
            <custodianStateCountry custodianState="US-NY" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Futures commission merchants and commodity clearing organizations - rule 17f-6 (17 CFR 270.17f-6)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Citibank, National Association (Ciudad Autonoma de Buenos Aires, Ciudad Autonoma de Buenos Aires, AR, Branch)</custodianName>
            <custodianLei>579100KKDGKCFFKKF005</custodianLei>
            <custodianCountry>AR</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>The Hongkong and Shanghai Banking Corporation Limited</custodianName>
            <custodianLei>2HI3YI5320L3RW6NJ957</custodianLei>
            <custodianCountry>HK</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Skandinaviska Enskilda Banken AB</custodianName>
            <custodianLei>F3JS33DEI6XQ4ZBPTN86</custodianLei>
            <custodianCountry>SE</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Clearstream Banking S.A.</custodianName>
            <custodianLei>549300OL514RA0SXJJ44</custodianLei>
            <custodianCountry>LU</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign securities depository - rule 17f-7 (17 CFR 270.17f-7)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Skandinaviska Enskilda Banken AB (Oslo, Oslo, NO, Branch)</custodianName>
            <custodianLei>F3JS33DEI6XQ4ZBPTN86</custodianLei>
            <custodianCountry>NO</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Goldman Sachs &amp; Co. LLC</custodianName>
            <custodianLei>FOR8UP27PHTHYVLBNG30</custodianLei>
            <custodianStateCountry custodianState="US-NY" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Futures commission merchants and commodity clearing organizations - rule 17f-6 (17 CFR 270.17f-6)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Standard Chartered Bank (Jakarta, Jakarta, ID, Branch)</custodianName>
            <custodianLei>5493006AUYAO7LJWX552</custodianLei>
            <custodianCountry>ID</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Credit Suisse (Schweiz) AG</custodianName>
            <custodianLei>549300CWR0W0BCS9Q144</custodianLei>
            <custodianCountry>CH</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Credit Suisse Securities (USA) LLC</custodianName>
            <custodianLei>1V8Y6QCX6YMJ2OELII46</custodianLei>
            <custodianStateCountry custodianState="US-NY" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Futures commission merchants and commodity clearing organizations - rule 17f-6 (17 CFR 270.17f-6)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Intesa Sanpaolo S.p.A.</custodianName>
            <custodianLei>2W8N8UU78PMDQKZENC08</custodianLei>
            <custodianCountry>IT</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Barclays Capital Inc.</custodianName>
            <custodianLei>AC28XWWI3WIBK2824319</custodianLei>
            <custodianStateCountry custodianState="US-NY" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Futures commission merchants and commodity clearing organizations - rule 17f-6 (17 CFR 270.17f-6)</custodyType>
          </custodian>
          <custodian>
            <custodianName>State Street Bank and Trust Company (Edinburgh, GB, Branch)</custodianName>
            <custodianLei>571474TGEMMWANRLN572</custodianLei>
            <custodianCountry>GB</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>The Hongkong and Shanghai Banking Corporation Limited (Sydney, NSW, AU, Branch)</custodianName>
            <custodianLei>2HI3YI5320L3RW6NJ957</custodianLei>
            <custodianCountry>AU</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>BNP Paribas Securities Services</custodianName>
            <custodianLei>549300WCGB70D06XZS54</custodianLei>
            <custodianCountry>FR</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>UniCredit Bank Austria AG</custodianName>
            <custodianLei>D1HEB8VEU6D9M8ZUXG17</custodianLei>
            <custodianCountry>AT</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Citigroup Global Markets Inc.</custodianName>
            <custodianLei>MBNUM2BPBDO7JBLYG310</custodianLei>
            <custodianStateCountry custodianState="US-NY" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Futures commission merchants and commodity clearing organizations - rule 17f-6 (17 CFR 270.17f-6)</custodyType>
          </custodian>
          <custodian>
            <custodianName>State Street Bank and Trust Company</custodianName>
            <custodianLei>571474TGEMMWANRLN572</custodianLei>
            <custodianStateCountry custodianState="US-MA" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))</custodyType>
          </custodian>
          <custodian>
            <custodianName>UniCredit Bank Hungary Zrt.</custodianName>
            <custodianLei>Y28RT6GGYJ696PMW8T44</custodianLei>
            <custodianCountry>HU</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Standard Chartered Bank (Thai) Public Company Limited</custodianName>
            <custodianLei>549300O1LQYCQ7G1IM57</custodianLei>
            <custodianCountry>TH</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>The Hongkong and Shanghai Banking Corporation Limited (Jung-gu, Seoul, KR, Branch)</custodianName>
            <custodianLei>2HI3YI5320L3RW6NJ957</custodianLei>
            <custodianCountry>KR</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Euroclear Bank</custodianName>
            <custodianLei>549300OZ46BRLZ8Y6F65</custodianLei>
            <custodianCountry>BE</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign securities depository - rule 17f-7 (17 CFR 270.17f-7)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Standard Chartered Bank (Makati City, Metro Manila, PH, Branch)</custodianName>
            <custodianLei>RILFO74KP1CM8P6PCT96</custodianLei>
            <custodianCountry>PH</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Citibank, National Association (Singapore, SG, Branch)</custodianName>
            <custodianLei>E57ODZWZ7FF32TWEFA76</custodianLei>
            <custodianCountry>SG</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Royal Bank of Canada</custodianName>
            <custodianLei>ES7IP3U3RHIGC71XBU11</custodianLei>
            <custodianCountry>CA</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Wells Fargo Securities, LLC</custodianName>
            <custodianLei>VYVVCKR63DVZZN70PB21</custodianLei>
            <custodianStateCountry custodianState="US-NC" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Futures commission merchants and commodity clearing organizations - rule 17f-6 (17 CFR 270.17f-6)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Mizuho Bank, Ltd. (Minato ku, Tokyo, JP, Branch)</custodianName>
            <custodianLei>RB0PEZSDGCO3JS6CEU02</custodianLei>
            <custodianCountry>JP</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>State Street Trust Company Canada</custodianName>
            <custodianLei>549300L71XG2CTQ2V827</custodianLei>
            <custodianCountry>CA</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>UniCredit Bank Czech Republic and Slovakia, a.s.</custodianName>
            <custodianLei>KR6LSKV3BTSJRD41IF75</custodianLei>
            <custodianCountry>CZ</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>State Street Bank International GmbH</custodianName>
            <custodianLei>ZMHGNT7ZPKZ3UFZ8EO46</custodianLei>
            <custodianCountry>DE</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>FirstRand Bank Limited</custodianName>
            <custodianLei>ZAYQDKTCATIXF9OQY690</custodianLei>
            <custodianCountry>ZA</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Citibank Europe Public Limited Company</custodianName>
            <custodianLei>N1FBEDJ5J41VKZLO2475</custodianLei>
            <custodianCountry>IE</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Skandinaviska Enskilda Banken A/S</custodianName>
            <custodianLei>F3JS33DEI6XQ4ZBPTN86</custodianLei>
            <custodianCountry>DK</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
          <custodian>
            <custodianName>Skandinaviska Enskilda Banken AB (Helsinki, Uusimaa, FI, Branch)</custodianName>
            <custodianLei>F3JS33DEI6XQ4ZBPTN86</custodianLei>
            <custodianCountry>FI</custodianCountry>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>Y</isSubCustodian>
            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>Y</isCustodianHiredOrTerminated>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>BlackRock Advisors, LLC</adminName>
            <adminLei>5493001LN9MRM6A35J74</adminLei>
            <adminStateCountry adminState="US-DE" adminCountry="US"/>
            <isAdminAffiliated>Y</isAdminAffiliated>
            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
          <admin>
            <adminName>State Street Bank and Trust Company</adminName>
            <adminLei>571474TGEMMWANRLN572</adminLei>
            <adminStateCountry adminState="US-MA" adminCountry="US"/>
            <isAdminAffiliated>N</isAdminAffiliated>
            <isAdminSubAdmin>Y</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <brokerDealers>
          <brokerDealer>
            <brokerDealerName>BlackRock Investments, LLC</brokerDealerName>
            <brokerDealerFileNo>8-48436</brokerDealerFileNo>
            <brokerDealerCrdNo>000038642</brokerDealerCrdNo>
            <brokerDealerLei>54930061FBHCKXL2G714</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>BlackRock Execution Services</brokerDealerName>
            <brokerDealerFileNo>8-48719</brokerDealerFileNo>
            <brokerDealerCrdNo>000039438</brokerDealerCrdNo>
            <brokerDealerLei>549300HFCRQ0NT5KY652</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
        </brokerDealers>
        <brokers>
          <broker>
            <brokerName>Mizuho Securities USA LLC</brokerName>
            <brokerFileNo>8-37710</brokerFileNo>
            <brokerCrdNo>000019647</brokerCrdNo>
            <brokerLei>7TK5RJIZDFROZCA6XF66</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>25049.60000000</grossCommission>
          </broker>
          <broker>
            <brokerName>UBS Securities LLC</brokerName>
            <brokerFileNo>8-22651</brokerFileNo>
            <brokerCrdNo>000007654</brokerCrdNo>
            <brokerLei>T6FIZBDPKLYJKFCRVK44</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>486989.89000000</grossCommission>
          </broker>
          <broker>
            <brokerName>Citigroup Global Markets Inc.</brokerName>
            <brokerFileNo>8-8177</brokerFileNo>
            <brokerCrdNo>000007059</brokerCrdNo>
            <brokerLei>MBNUM2BPBDO7JBLYG310</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>35503.29000000</grossCommission>
          </broker>
          <broker>
            <brokerName>Cowen and Company, LLC</brokerName>
            <brokerFileNo>8-22522</brokerFileNo>
            <brokerCrdNo>000007616</brokerCrdNo>
            <brokerLei>549300WR155U7DVMIW58</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>181.36000000</grossCommission>
          </broker>
          <broker>
            <brokerName>BofA Securities, Inc.</brokerName>
            <brokerFileNo>8-69787</brokerFileNo>
            <brokerCrdNo>000283942</brokerCrdNo>
            <brokerLei>549300HN4UKV1E2R3U73</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>7986.17000000</grossCommission>
          </broker>
          <broker>
            <brokerName>J.P. Morgan Securities LLC</brokerName>
            <brokerFileNo>8-35008</brokerFileNo>
            <brokerCrdNo>000000079</brokerCrdNo>
            <brokerLei>ZBUT11V806EZRVTWT807</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>192812.75000000</grossCommission>
          </broker>
          <broker>
            <brokerName>Goldman Sachs &amp; Co. LLC</brokerName>
            <brokerFileNo>8-129</brokerFileNo>
            <brokerCrdNo>000000361</brokerCrdNo>
            <brokerLei>FOR8UP27PHTHYVLBNG30</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>173.16000000</grossCommission>
          </broker>
          <broker>
            <brokerName>Morgan Stanley &amp; Co. LLC</brokerName>
            <brokerFileNo>8-15869</brokerFileNo>
            <brokerCrdNo>000008209</brokerCrdNo>
            <brokerLei>9R7GPTSO7KV3UQJZQ078</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>97868.56000000</grossCommission>
          </broker>
        </brokers>
        <aggregateCommission>846564.78000000</aggregateCommission>
        <principalTransactions>
          <principalTransaction>
            <principalName>J.P. Morgan Securities LLC</principalName>
            <principalFileNo>8-35008</principalFileNo>
            <principalCrdNo>000000079</principalCrdNo>
            <principalLei>ZBUT11V806EZRVTWT807</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>157634646.24000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Goldman Sachs &amp; Co. LLC</principalName>
            <principalFileNo>8-129</principalFileNo>
            <principalCrdNo>000000361</principalCrdNo>
            <principalLei>FOR8UP27PHTHYVLBNG30</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>55232188.24000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Citigroup Global Markets Inc.</principalName>
            <principalFileNo>8-8177</principalFileNo>
            <principalCrdNo>000007059</principalCrdNo>
            <principalLei>MBNUM2BPBDO7JBLYG310</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>57944480.23000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>RBC Capital Markets, LLC</principalName>
            <principalFileNo>8-45411</principalFileNo>
            <principalCrdNo>000031194</principalCrdNo>
            <principalLei>549300LCO2FLSSVFFR64</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>1197219366.11000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Barclays Capital Inc.</principalName>
            <principalFileNo>8-41342</principalFileNo>
            <principalCrdNo>000019714</principalCrdNo>
            <principalLei>AC28XWWI3WIBK2824319</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>702804176.98000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BNP Paribas Securities Corp.</principalName>
            <principalFileNo>8-32682</principalFileNo>
            <principalCrdNo>000015794</principalCrdNo>
            <principalLei>RCNB6OTYUAMMP879YW96</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>339218883.15000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Credit Suisse Securities (USA) LLC</principalName>
            <principalFileNo>8-422</principalFileNo>
            <principalCrdNo>000000816</principalCrdNo>
            <principalLei>1V8Y6QCX6YMJ2OELII46</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>133830683.63000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BlackRock Liquidity Funds - T-Fund</principalName>
            <principalFileNo>N/A</principalFileNo>
            <principalCrdNo>N/A</principalCrdNo>
            <principalLei>5493002L9DNZ83RX7V61</principalLei>
            <principalStateCountry principalState="US-DE" principalCountry="US"/>
            <principalTotalPurchaseSale>578677384.70000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BofA Securities, Inc.</principalName>
            <principalFileNo>8-69787</principalFileNo>
            <principalCrdNo>000283942</principalCrdNo>
            <principalLei>549300HN4UKV1E2R3U73</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>92343600.25000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Morgan Stanley &amp; Co. LLC</principalName>
            <principalFileNo>8-15869</principalFileNo>
            <principalCrdNo>000008209</principalCrdNo>
            <principalLei>9R7GPTSO7KV3UQJZQ078</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>77858287.94000000</principalTotalPurchaseSale>
          </principalTransaction>
        </principalTransactions>
        <principalAggregatePurchase>3587447849.01000000</principalAggregatePurchase>
        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>1444178886.24461538</mnthlyAvgNetAssets>
      </managementInvestmentQuestion>
    </managementInvestmentQuestionSeriesInfo>
    <closedEndManagementInvestment>
      <securityRelatedItems>
        <securityRelatedItem>
          <description>Common stock</description>
          <securityClassTitle>BlackRock Credit Allocation Income Trust</securityClassTitle>
          <commonStocks>
            <commonStock commonStockExchange="XNYS" commonStockTickerSymbol="BTZ"/>
          </commonStocks>
        </securityRelatedItem>
      </securityRelatedItems>
      <isRightsOffering>N</isRightsOffering>
      <isSecondaryOffering>N</isSecondaryOffering>
      <isRepurchaseSecurity>N</isRepurchaseSecurity>
      <isDefaultLongTermDebt>N</isDefaultLongTermDebt>
      <isDividendsInArrears>N</isDividendsInArrears>
      <isSecuritiesModified>N</isSecuritiesModified>
      <managementFee>0.87000000</managementFee>
      <netOperatingExpenses>1.12000000</netOperatingExpenses>
      <marketPricePerShare>15.05000000</marketPricePerShare>
      <netAssetValuePerShare>15.10000000</netAssetValuePerShare>
    </closedEndManagementInvestment>
    <attachmentsTab>
      <isIPAReportInternalControl>true</isIPAReportInternalControl>
      <isNewOrAmendedInvAdvContracts>true</isNewOrAmendedInvAdvContracts>
    </attachmentsTab>
    <signature registrantSignedName="BlackRock Credit Allocation Income Trust" signedDate="2022-03-14" signature="Ann Frechette" title="Assistant Treasurer"/>
  </formData>
</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>ADVISORY CONTRACTS
<SEQUENCE>2
<FILENAME>NCEN_811-21972_46848908_1221.htm
<TEXT>

<HTML>
<HEAD>
   <TITLE>blackrockbtz-bslsubima.htm - Generated by SEC Publisher for SEC Filing</TITLE>
</HEAD>

<BODY bgcolor="#ffffff">
<a name="page_1"></a><a name="_bclPageBorder1"></a><DIV STYLE="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
<p style="margin-bottom:6.0pt;margin-left:0in;margin-right:0in;margin-top:0in;page-break-after:avoid;text-align:center;"><b><u><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">SUB-ADVISORY AGREEMENT</font></u></b></p>

<p style="margin:0in;"><b><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></b></p>

<p style="margin-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:1.0in;text-justify:inter-ideograph;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">AGREEMENT dated August 4, 2021, among </font><font face="Times New Roman" lang=EN-CA style="font-size:12.0pt;">BlackRock Credit Allocation Income Trust</font><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">, a Delaware statutory trust (the &#8220;</font><u><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">Trust</font></u><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&#8221;),
BlackRock Advisors, LLC, a Delaware limited liability company (the &#8220;</font><u><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">Advisor</font></u><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&#8221;),
and BlackRock (Singapore) Limited, a corporation organized under the laws of Singapore
(the &#8220;</font><u><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">Sub-Advisor</font></u><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&#8221;).</font></p>

<p style="margin-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:1.0in;text-justify:inter-ideograph;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">WHEREAS, the Advisor has agreed to furnish investment
advisory services to the Trust, a closed-end management investment company
registered under the Investment Company Act of 1940, as amended (the &#8220;</font><u><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">1940
Act</font></u><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&#8221;);</font></p>

<p style="margin-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:1.0in;text-justify:inter-ideograph;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">WHEREAS, the Advisor wishes to retain the Sub-Advisor
to provide it with certain sub-advisory services as described below in
connection with Advisor&#8217;s advisory activities on behalf of the Trust;</font></p>

<p style="margin-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:1.0in;text-justify:inter-ideograph;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">WHEREAS, the investment management agreement between
the Advisor and the Trust, dated December 7, 2006 (such agreement or the most
recent successor agreement between such parties relating to advisory services
to the Trust is referred to herein as the &#8220;</font><u><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">Advisory Agreement</font></u><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&#8221;),
contemplates that the Advisor may appoint a sub-adviser to perform investment
advisory services with respect to the Trust; and</font></p>

<p style="margin-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:1.0in;text-justify:inter-ideograph;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">WHEREAS, this Agreement has been approved in
accordance with the provisions of the 1940 Act, and the Sub-Advisor is willing
to furnish such services upon the terms and conditions herein set forth;</font></p>

<p style="margin-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:1.0in;text-justify:inter-ideograph;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">NOW, THEREFORE, in consideration of the mutual
premises and covenants herein contained and other good and valuable
consideration, the receipt of which is hereby acknowledged, it is agreed by and
between the parties hereto as follows:</font></p>

<p style="margin-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:1.0in;text-justify:inter-ideograph;"><font color=black face="Times New Roman" lang=EN-US style="font-size:12.0pt;">1.</font><font color=black face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><u><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">Appointment</font></u><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">.&#160; The Advisor hereby appoints the Sub-Advisor
to act as sub-advisor with respect to the Trust and the Sub-Advisor accepts
such appointment and agrees to render the services herein set forth for the
compensation herein provided. </font></p>

<p style="margin-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:1.0in;text-justify:inter-ideograph;"><font color=black face="Times New Roman" lang=EN-US style="font-size:12.0pt;">2.</font><font color=black face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><u><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">Services of the Sub-Advisor</font></u><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">.&#160; Subject to the succeeding
provisions of this section, the oversight and supervision of the Advisor and
the direction and control of the Board of Trustees of the Trust, the
Sub-Advisor will perform certain of the day-to-day operations of the Trust,
which may include one or more of the following services, at the request of the
Advisor:&#160; (a) acting as investment advisor for and managing the investment and
reinvestment of those assets of the Trust as the Advisor may from time to time
request and in connection therewith have complete discretion in purchasing and
selling such securities and other assets for the Trust and in voting,
exercising consents and exercising all other rights appertaining to such
securities and other assets on behalf of the Trust; (b) arranging, subject to
the provisions of paragraph 3 hereof, for the purchase and sale of securities
and other assets of the Trust; (c) providing investment research and credit
analysis concerning the Trust&#8217;s investments, (d) assisting the Advisor in
determining what portion of the Trust&#8217;s assets will be invested in cash, cash
equivalents and money market instruments,</font><b><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;"> </font></b><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">(e) placing orders for all
purchases and sales of such </font><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">investments made for the
Trust, and (f) maintaining the books and records as are required to support the
Trust&#8217;s investment operations.&#160; At the request of the Advisor, the Sub-Advisor
will also, subject to the oversight and supervision of the Advisor and the
direction and control of the Board of Trustees of the Trust, provide to the
Advisor or the Trust any of the facilities and equipment and perform any of the
services described in Section 3 of the Advisory Agreement.&#160; In addition, the
Sub-Advisor will keep the Trust and the Advisor informed of developments
materially affecting the Trust and shall, on its own initiative, furnish to the
Trust from time to time whatever information the Sub-Advisor believes
appropriate for this purpose.&#160; The Sub-Advisor will periodically communicate to
the Advisor, at such times as the Advisor may direct, information concerning
the purchase and sale of securities for the Trust, including:&#160; (a) the name of
the issuer, (b) the amount of the purchase or sale, (c) the name of the broker
or dealer, if any, through which the purchase or sale is effected, (d) the
CUSIP number of the instrument, if any, and (e) such other information as the
Advisor may reasonably require for purposes of fulfilling its obligations to the
Trust under the Advisory Agreement.&#160; The Sub-Advisor will provide the services
rendered by it under this Agreement in accordance with the Trust&#8217;s investment
objective, policies and restrictions (as currently in effect and as they may be
amended or supplemented from time to time) as stated in the Trust&#8217;s Prospectus
and Statement of Additional Information and the resolutions of the Trust&#8217;s
Board of Trustees.</font></p>
<a name="_bclFooter1"></a><DIV>


<p align=center style="margin:0in;text-align:center;"><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;"></font></font><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">1</font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;"></font></font></p>

<p style="margin:0in;"><font face="Times New Roman" lang=EN-US style="font-size:7.5pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</DIV><a name="page_2"></a><a name="_bclPageBorder2"></a><DIV STYLE="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">


<p style="margin-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:1.0in;text-justify:inter-ideograph;"><font color=black face="Times New Roman" lang=EN-US style="font-size:12.0pt;">3.</font><font color=black face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><u><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">Covenants</font></u><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">. (a)&#160; In the performance of its duties under
this Agreement, the Sub-Advisor shall at all times conform to, and act in accordance
with, any requirements imposed by: (i) the provisions of the 1940 Act, and the
Investment Advisers Act of 1940, as amended (the &#8220;</font><u><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">Advisers Act</font></u><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&#8221;), and
all applicable Rules and Regulations of the Securities and Exchange Commission
(the &#8220;</font><u><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">SEC</font></u><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&#8221;); (ii) any other applicable provision of law; (iii) the
provisions of the Agreement and Declaration of Trust and By-Laws of the Trust,
as such documents are amended from time to time; (iv) the investment objective
and policies of the Trust as set forth in its Registration Statement on Form
N-2; and (v) any policies and determinations of the Board of Trustees of the
Trust.</font></p>

<p style="margin-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:1.0in;text-justify:inter-ideograph;"><font color=black face="Times New Roman" lang=EN-US style="font-size:12.0pt;">(b)</font><font color=black face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font color=black face="Times New Roman" lang=EN-US style="font-size:12.0pt;">In addition, the Sub-Advisor will: </font></p>

<p style="margin-bottom:12.0pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:.5in;text-justify:inter-ideograph;"><font color=black face="Times New Roman" lang=EN-US style="font-size:12.0pt;">(i)</font><font color=black face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font color=black face="Times New Roman" lang=EN-US style="font-size:12.0pt;">place orders either directly with the issuer or with any broker or
dealer.&#160; Subject to the other provisions of this paragraph, in placing orders
with brokers and dealers, the Sub-Advisor will attempt to obtain the best price
and the most favorable execution of its orders.&#160; In placing orders, the
Sub-Advisor will consider the experience and skill of the firm&#8217;s securities
traders as well as the firm&#8217;s financial responsibility and administrative
efficiency.&#160; Consistent with this obligation, the Sub-Advisor may select
brokers on the basis of the research, statistical and pricing services they
provide to the Trust and other clients of the Advisor or the Sub-Advisor.&#160;
Information and research received from such brokers will be in addition to, and
not in lieu of, the services required to be performed by the Sub-Advisor
hereunder.&#160; A commission paid to such brokers may be higher than that which
another qualified broker would have charged for effecting the same transaction,
provided that the Sub-Advisor determines in good </font><font color=black face="Times New Roman" lang=EN-US style="font-size:12.0pt;">faith
that such commission is reasonable in terms either of the transaction or the
overall responsibility of the Advisor and the Sub-Advisor to the Trust and
their other clients and that the total commissions paid by the Trust will be
reasonable in relation to the benefits to the Trust over the long-term.&#160; In no
instance, however, will the Trust&#8217;s securities be purchased from or sold to the
Advisor, the Sub-Advisor or any affiliated person thereof, except to the extent
permitted by the SEC or by applicable law.&#160; It is understood that Sub-Advisor
may utilize affiliates in connection with the placement of orders with issuers
and brokers or dealers, but such use of affiliates shall not affect the
responsibility of Sub-Advisor to Adviser for such activities. Subject to the
foregoing and the provisions of the 1940 Act, the Securities Exchange Act of
1934, as amended, and other applicable provisions of law, the Sub-Advisor may
select brokers and dealers with which it or the Trust is affiliated;</font></p>
<a name="_bclFooter2"></a><DIV>


<p align=center style="margin:0in;text-align:center;"><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;"></font></font><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">2</font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;"></font></font></p>

<p style="margin:0in;"><font face="Times New Roman" lang=EN-US style="font-size:7.5pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</DIV><a name="page_3"></a><a name="_bclPageBorder3"></a><DIV STYLE="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">


<p style="margin-bottom:12.0pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:.5in;text-justify:inter-ideograph;"><font color=black face="Times New Roman" lang=EN-US style="font-size:12.0pt;">(ii)</font><font color=black face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font color=black face="Times New Roman" lang=EN-US style="font-size:12.0pt;">maintain books and records with respect to the Trust&#8217;s securities
transactions and will render to the Advisor and the Trust&#8217;s Board of Trustees, such
periodic and special reports as they may request;</font></p>

<p style="margin-bottom:12.0pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:.5in;text-justify:inter-ideograph;"><font color=black face="Times New Roman" lang=EN-US style="font-size:12.0pt;">(iii)</font><font color=black face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font color=black face="Times New Roman" lang=EN-US style="font-size:12.0pt;">maintain a policy and practice of conducting its investment advisory
services hereunder independently of the commercial banking operations of its
affiliates.&#160; When the Sub-Advisor makes investment recommendations for the
Trust, its investment advisory personnel will not inquire or take into
consideration whether the issuer of securities proposed for purchase or sale
for the Trust&#8217;s accounts are customers of the commercial department of its
affiliates; and</font></p>

<p style="margin-bottom:12.0pt;margin-left:.5in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:.5in;text-justify:inter-ideograph;"><font color=black face="Times New Roman" lang=EN-US style="font-size:12.0pt;">(iv)</font><font color=black face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font color=black face="Times New Roman" lang=EN-US style="font-size:12.0pt;">treat confidentially and as proprietary information of the Trust all
records and other information relative to the Trust, and the Trust&#8217;s prior,
current or potential shareholders, and will not use such records and
information for any purpose other than performance of its responsibilities and
duties hereunder, except after prior notification to and approval in writing by
the Trust which approval shall not be unreasonably withheld and may not be
withheld where the Sub-Advisor may be exposed to civil or criminal contempt
proceedings for failure to comply, when requested to divulge such information
by duly constituted authorities, or when so requested by the Trust.</font></p>

<p style="margin-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:1.0in;text-justify:inter-ideograph;"><font color=black face="Times New Roman" lang=EN-US style="font-size:12.0pt;">4.</font><font color=black face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><u><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">Services Not Exclusive</font></u><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">.&#160; Nothing in this Agreement shall
prevent the Sub-Advisor or any officer, employee or other affiliate thereof
from acting as investment advisor for any other person, firm or corporation, or
from engaging in any other lawful activity, and shall not in any way limit or
restrict the Sub-Advisor or any of its officers, employees or agents from
buying, selling or trading any securities for its or their own accounts or for
the accounts of others for whom it or they may be acting; provided, however,
that the Sub-Advisor will undertake no activities which, in its judgment, will
adversely affect the performance of its obligations under this Agreement.</font></p>

<p style="margin-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:1.0in;text-justify:inter-ideograph;"><font color=black face="Times New Roman" lang=EN-US style="font-size:12.0pt;">5.</font><font color=black face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><u><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">Books and Records</font></u><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">.&#160; In compliance with the requirements of
Rule 31a-3 under the 1940 Act, the Sub-Advisor hereby agrees that all records
which it maintains for the Trust are the property of the Trust as the case may
be and further agrees </font><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">to surrender promptly to the
Trust, any such records upon the Trust&#8217;s request as the case may be.&#160; The
Sub-Advisor further agrees to preserve for the periods prescribed by Rule 31a-2
under the 1940 Act the records required to be maintained by Rule 31a-1 under
the 1940 Act (to the extent such books and records are not maintained by the
Advisor).</font></p>
<a name="_bclFooter3"></a><DIV>


<p align=center style="margin:0in;text-align:center;"><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;"></font></font><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">3</font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;"></font></font></p>

<p style="margin:0in;"><font face="Times New Roman" lang=EN-US style="font-size:7.5pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</DIV><a name="page_4"></a><a name="_bclPageBorder4"></a><DIV STYLE="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">


<p style="margin-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:1.0in;text-justify:inter-ideograph;"><font color=black face="Times New Roman" lang=EN-US style="font-size:12.0pt;">6.</font><font color=black face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><u><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">Agency Cross Transactions</font></u><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">.&#160; From time to time, the
Sub-Advisor or brokers or dealers affiliated with it may find themselves in a
position to buy for certain of their brokerage clients (each an &#8220;</font><u><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">Account</font></u><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&#8221;)
securities which the Sub-Advisor&#8217;s investment advisory clients wish to sell,
and to sell for certain of their brokerage clients securities which advisory
clients wish to buy.&#160; Where one of the parties is an advisory client, the
Advisor or the affiliated broker or dealer cannot participate in this type of
transaction (known as a cross transaction) on behalf of an advisory client and
retain commissions from both parties to the transaction without the advisory
client&#8217;s consent.&#160; This is because in a situation where the Sub-Advisor is
making the investment decision (as opposed to a brokerage client who makes his
own investment decisions), and the Sub-Advisor or an affiliate is receiving
commissions from one or both sides of the transaction, there is a potential
conflicting division of loyalties and responsibilities on the Sub-Advisor&#8217;s
part regarding the advisory client.&#160; The SEC has adopted a rule under the
Advisers Act which permits the Sub-Advisor or its affiliates to participate on
behalf of an Account in agency cross transactions if the advisory client has
given written consent in advance.&#160; By execution of this Agreement, the Trust authorizes
the Sub-Advisor or its affiliates to participate in agency cross transactions
involving an Account.&#160; The Trust may revoke its consent at any time by written
notice to the Sub-Advisor.</font></p>

<p style="margin-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:1.0in;text-justify:inter-ideograph;"><font color=black face="Times New Roman" lang=EN-US style="font-size:12.0pt;">7.</font><font color=black face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><u><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">Expenses</font></u><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">.&#160; During the term of this Agreement, the
Sub-Advisor will bear all costs and expenses of its employees and any overhead
incurred by the Sub-Advisor in connection with its duties hereunder; provided
that the Board of Trustees of the Trust may approve reimbursement to the
Sub-Advisor of the pro-rata portion of the salaries, bonuses, health insurance,
retirement benefits and all similar employment costs for the time spent on the
Trust&#8217;s operations (including, without limitation, compliance matters) (other
than the provision of investment advice and administrative services required to
be provided hereunder) of all personnel employed by the Sub-Advisor who devote
substantial time to the Trust&#8217;s operations or the operations of other
investment companies advised or sub-advised by the Sub-Advisor.</font></p>

<p style="margin-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:0in;page-break-after:avoid;text-align:justify;text-indent:1.0in;text-justify:inter-ideograph;"><font color=black face="Times New Roman" lang=EN-US style="font-size:12.0pt;">8.</font><font color=black face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><u><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">Compensation</font></u><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">. </font></p>

<p style="margin-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:1.0in;text-justify:inter-ideograph;"><font color=black face="Times New Roman" lang=EN-US style="font-size:12.0pt;">(a)</font><font color=black face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font color=black face="Times New Roman" lang=EN-US style="font-size:12.0pt;">For that portion of the Trust for which the Sub-Advisor acts as
sub-advisor, the Advisor agrees to pay to the Sub-Advisor and the Sub-Advisor
agrees to accept as full compensation for all services rendered by the
Sub-Advisor pursuant to this Agreement, an annual fee in arrears in an amount
equal to </font><font color=black face="Times New Roman" lang=EN-GB style="font-size:12.0pt;">50%</font><font color=black face="Times New Roman" lang=EN-US style="font-size:12.0pt;"> of the management fees received by the
Advisor from the Trust with respect to the average daily value of the Managed
Assets of the Trust allocated to the Sub-Advisor. &#8220;Managed Assets&#8221; means the
total assets of the Trust (including any assets attributable to money borrowed
for investment purposes) minus the sum of the Trust&#8217;s accrued liabilities
(other than money borrowed for investment purposes).</font></p>


<a name="_bclFooter4"></a><DIV>


<p align=center style="margin:0in;text-align:center;"><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;"></font></font><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">4</font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;"></font></font></p>

<p style="margin:0in;"><font face="Times New Roman" lang=EN-US style="font-size:7.5pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</DIV><a name="page_5"></a><a name="_bclPageBorder5"></a><DIV STYLE="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
<p style="margin-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:1.0in;text-justify:inter-ideograph;"><font color=black face="Times New Roman" lang=EN-US style="font-size:12.0pt;">(b)</font><font color=black face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font color=black face="Times New Roman" lang=EN-US style="font-size:12.0pt;">For purposes of this Agreement, the Managed Assets of the Trust shall be
calculated pursuant to the procedures adopted by resolutions of the Board of Trustees
of the Trust for calculating the value of the Trust&#8217;s assets or delegating such
calculations to third parties.</font></p>

<p style="margin-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:0in;page-break-after:avoid;text-align:justify;text-indent:1.0in;text-justify:inter-ideograph;"><font color=black face="Times New Roman" lang=EN-US style="font-size:12.0pt;">9.</font><font color=black face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><u><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">Indemnity</font></u><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">.&#160; </font></p>

<p style="margin-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:1.0in;text-justify:inter-ideograph;"><font color=black face="Times New Roman" lang=EN-US style="font-size:12.0pt;">(a)</font><font color=black face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font color=black face="Times New Roman" lang=EN-US style="font-size:12.0pt;">The Trust may, with the prior consent of the Board of Trustees of the
Trust, including a majority of the trustees of the Trust that are not &#8220;interested
persons&#8221; of the Trust (as defined in Section 2(a)(19) of the 1940 Act),
indemnify the Sub-Advisor and each of the Sub-Advisor&#8217;s directors, officers,
employees, agents, associates and controlling persons and the directors,
partners, members, officers, employees and agents thereof (including any
individual who serves at the Sub-Advisor&#8217;s request as director, officer,
partner, member, trustee or the like of another entity) (each such person being
an &#8220;</font><u><font color=black face="Times New Roman" lang=EN-US style="font-size:12.0pt;">Indemnitee</font></u><font color=black face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&#8221;) against any liabilities and expenses, including amounts
paid in satisfaction of judgments, in compromise or as fines and penalties, and
counsel fees (all as provided in accordance with applicable state law) reasonably
incurred by such Indemnitee in connection with the defense or disposition of
any action, suit or other proceeding, whether civil or criminal, before any
court or administrative or investigative body in which such Indemnitee may be
or may have been involved as a party or otherwise or with which such Indemnitee
may be or may have been threatened, while acting in any capacity set forth
herein or thereafter by reason of such Indemnitee having acted in any such
capacity, except with respect to any matter as to which such Indemnitee shall
have been adjudicated not to have acted in good faith in the reasonable belief
that such Indemnitee&#8217;s action was in the best interest of the Trust and
furthermore, in the case of any criminal proceeding, so long as such Indemnitee
had no reasonable cause to believe that the conduct was unlawful; provided,
however, that (1) no Indemnitee shall be indemnified hereunder against any
liability to the Trust, the Trust&#8217;s shareholders or any expense of such
Indemnitee arising by reason of (i) willful misfeasance, (ii) bad faith, (iii)
gross negligence or (iv) reckless disregard of the duties involved in the
conduct of such Indemnitee&#8217;s position (the conduct referred to in such clauses
(i) through (iv) being sometimes referred to herein as &#8220;</font><u><font color=black face="Times New Roman" lang=EN-US style="font-size:12.0pt;">disabling conduct</font></u><font color=black face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&#8221;),
(2) as to any matter disposed of by settlement or a compromise payment by such
Indemnitee, pursuant to a consent decree or otherwise, no indemnification
either for said payment or for any other expenses shall be provided unless
there has been a determination that such settlement or compromise is in the
best interests of the Trust and that such Indemnitee appears to have acted in
good faith in the reasonable belief that such Indemnitee&#8217;s action was in the
best interest of the Trust and did not involve disabling conduct by such
Indemnitee and (3) with respect to any action, suit or other proceeding
voluntarily prosecuted by any Indemnitee as plaintiff, indemnification shall be
mandatory only if the prosecution of such action, suit or other proceeding by
such Indemnitee was authorized by a majority of the full Board of Trustees of
the Trust, including a majority of the trustees of the Trust who are not &#8220;interested
persons&#8221; of the Trust (as defined in Section 2(a)(19) of the 1940 Act).</font></p>

<p style="margin-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:1.0in;text-justify:inter-ideograph;"><font color=black face="Times New Roman" lang=EN-US style="font-size:12.0pt;">(b)</font><font color=black face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font color=black face="Times New Roman" lang=EN-US style="font-size:12.0pt;">The Trust shall make advance payments in connection with the expenses of
defending any action with respect to which indemnification might be sought
hereunder if the Trust receives a written affirmation of the Indemnitee&#8217;s good
faith belief </font><font color=black face="Times New Roman" lang=EN-US style="font-size:12.0pt;">that the standard of conduct necessary for
indemnification has been met and a written undertaking to reimburse the Trust
unless it is subsequently determined that such Indemnitee is entitled to such
indemnification and if the trustees of the Trust determine that the facts then
known to them would not preclude indemnification.&#160; In addition, at least one of
the following conditions must be met:&#160; (A) the Indemnitee shall provide a
security for such Indemnitee-undertaking, (B) the Trust shall be insured
against losses arising by reason of any unlawful advance, or (C) a majority of
a quorum consisting of trustees of the Trust who are neither &#8220;interested
persons&#8221; of the Trust (as defined in Section 2(a)(19) of the 1940 Act) nor
parties to the proceeding (&#8220;</font><u><font color=black face="Times New Roman" lang=EN-US style="font-size:12.0pt;">Disinterested Non-Party Trustees</font></u><font color=black face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&#8221;) or an
independent legal counsel in a written opinion, shall determine, based on a
review of readily available facts (as opposed to a full trial-type inquiry),
that there is reason to believe that the Indemnitee ultimately will be found
entitled to indemnification.</font></p>
<a name="_bclFooter5"></a><DIV>


<p align=center style="margin:0in;text-align:center;"><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;"></font></font><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">5</font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;"></font></font></p>

<p style="margin:0in;"><font face="Times New Roman" lang=EN-US style="font-size:7.5pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</DIV><a name="page_6"></a><a name="_bclPageBorder6"></a><DIV STYLE="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">


<p style="margin-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:1.0in;text-justify:inter-ideograph;"><font color=black face="Times New Roman" lang=EN-US style="font-size:12.0pt;">(c)</font><font color=black face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font color=black face="Times New Roman" lang=EN-US style="font-size:12.0pt;">All determinations with respect to indemnification hereunder shall be
made (1) by a final decision on the merits by a court or other body before whom
the proceeding was brought that such Indemnitee is not liable by reason of
disabling conduct, or (2) in the absence of such a decision, by (i) a majority
vote of a quorum of the Disinterested Non-Party Trustees of the Trust, or (ii)
if such a quorum is not obtainable or even, if obtainable, if a majority vote
of such quorum so directs, independent legal counsel in a written opinion.&#160; All
determinations that advance payments in connection with the expense of
defending any proceeding shall be authorized shall be made in accordance with
the immediately preceding clause (2) above.</font></p>

<p style="margin-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:1.0in;text-justify:inter-ideograph;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">The rights accruing to any Indemnitee under these
provisions shall not exclude any other right to which such Indemnitee may be
lawfully entitled.</font></p>

<p style="margin-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:0in;page-break-after:avoid;text-align:justify;text-indent:1.0in;text-justify:inter-ideograph;"><font color=black face="Times New Roman" lang=EN-US style="font-size:12.0pt;">10.</font><font color=black face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><u><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">Limitation on Liability</font></u><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">.&#160; </font></p>

<p style="margin-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:1.0in;text-justify:inter-ideograph;"><font color=black face="Times New Roman" lang=EN-US style="font-size:12.0pt;">(a)</font><font color=black face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font color=black face="Times New Roman" lang=EN-US style="font-size:12.0pt;">The Sub-Advisor will not be liable for any error of judgment or mistake
of law or for any loss suffered by the Advisor or by the Trust in connection
with the performance of this Agreement, except a loss resulting from a breach
of fiduciary duty with respect to the receipt of compensation for services or a
loss resulting from willful misfeasance, bad faith or gross negligence on its
part in the performance of its duties or from reckless disregard by it of its
duties under this Agreement.</font></p>

<p style="margin-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:1.0in;text-justify:inter-ideograph;"><font color=black face="Times New Roman" lang=EN-US style="font-size:12.0pt;">(b)</font><font color=black face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font color=black face="Times New Roman" lang=EN-US style="font-size:12.0pt;">Notwithstanding anything to the contrary contained in this Agreement,
the parties hereto acknowledge and agree that, as provided in Section 5.1 of
Article V of the Agreement and Declaration of Trust, this Agreement is executed
by the Trustees and/or officers of the Trust, not individually but as such
Trustees and/or officers of the Trust, and the obligations hereunder are not
binding upon any of the Trustees or Shareholders individually but bind only the
estate of the Trust.</font></p>

<p style="margin:0in;page-break-after:avoid;text-align:justify;text-indent:1.0in;text-justify:inter-ideograph;"><font color=black face="Times New Roman" lang=EN-US style="font-size:12.0pt;">11.</font><font color=black face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><u><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">Duration and Termination</font></u><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">.&#160; </font></p>

<p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:12.0pt;text-align:justify;text-indent:1.0in;text-justify:inter-ideograph;"><font color=black face="Times New Roman" lang=EN-US style="font-size:12.0pt;">(a)</font><font color=black face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font color=black face="Times New Roman" lang=EN-US style="font-size:12.0pt;">This Agreement shall become effective as of the date hereof and, unless
sooner terminated with respect to the Trust as provided herein, shall continue
in effect for a period of two years.&#160; Thereafter, if not terminated, this
Agreement shall </font><font color=black face="Times New Roman" lang=EN-US style="font-size:12.0pt;">continue in effect with respect to the
Trust for successive periods of 12 months, provided such continuance is
specifically approved at least annually by both (a) the vote of a majority of
the Trust&#8217;s Board of Trustees or a vote of a majority of the outstanding voting
securities of the Trust at the time outstanding and entitled to vote and (b) by
the vote of a majority of the Trustees, who are not parties to this Agreement
or interested persons (as such term is defined in the 1940 Act) of any such
party, cast in person (or otherwise, as consistent with applicable laws,
regulations and related guidance and relief) at a meeting called for the purpose
of voting on such approval.</font></p>
<a name="_bclFooter6"></a><DIV>


<p align=center style="margin:0in;text-align:center;"><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;"></font></font><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">6</font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;"></font></font></p>

<p style="margin:0in;"><font face="Times New Roman" lang=EN-US style="font-size:7.5pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</DIV><a name="page_7"></a><a name="_bclPageBorder7"></a><DIV STYLE="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">


<p style="margin-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:12.0pt;text-align:justify;text-indent:1.0in;text-justify:inter-ideograph;"><font color=black face="Times New Roman" lang=EN-US style="font-size:12.0pt;">(b)</font><font color=black face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><font color=black face="Times New Roman" lang=EN-US style="font-size:12.0pt;">Notwithstanding the foregoing, this Agreement may be terminated by the
Trust or the Advisor at any time, without the payment of any penalty, upon
giving the Sub-Advisor 60 days&#8217; notice (which notice may be waived by the
Sub-Advisor), provided that such termination by the Trust or the Advisor shall
be directed or approved by the vote of a majority of the Trustees of the Trust
in office at the time or by the vote of the holders of a majority of the voting
securities of the Trust at the time outstanding and entitled to vote, or by the
Sub-Advisor on 60 days&#8217; written notice (which notice may be waived by the Trust
and the Advisor), and will terminate automatically upon any termination of the
Advisory Agreement between the Trust and the Advisor.&#160; This Agreement will also
immediately terminate in the event of its assignment.&#160; (As used in this
Agreement, the terms &#8220;</font><u><font color=black face="Times New Roman" lang=EN-US style="font-size:12.0pt;">majority of the outstanding voting securities</font></u><font color=black face="Times New Roman" lang=EN-US style="font-size:12.0pt;">,&#8221; &#8220;</font><u><font color=black face="Times New Roman" lang=EN-US style="font-size:12.0pt;">interested
person</font></u><font color=black face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&#8221; and &#8220;</font><u><font color=black face="Times New Roman" lang=EN-US style="font-size:12.0pt;">assignment</font></u><font color=black face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&#8221; shall have the same meanings of such terms
in the 1940 Act.)</font></p>

<p style="margin-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:1.0in;text-justify:inter-ideograph;"><font color=black face="Times New Roman" lang=EN-US style="font-size:12.0pt;">12.</font><font color=black face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><u><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">Notices</font></u><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">.&#160; Any notice under this Agreement shall be in
writing to the other party at such address as the other party may designate
from time to time for the receipt of such notice and shall be deemed to be
received on the earlier of the date actually received or on the fourth day
after the postmark if such notice is mailed first class postage prepaid.</font></p>

<p style="margin-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:1.0in;text-justify:inter-ideograph;"><font color=black face="Times New Roman" lang=EN-US style="font-size:12.0pt;">13.</font><font color=black face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><u><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">Amendment of this Agreement</font></u><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">.&#160; No provision of this
Agreement may be changed, waived, discharged or terminated orally, but only by
an instrument in writing signed by the party against which enforcement of the
change, waiver, discharge or termination is sought.&#160; Any amendment of this
Agreement shall be subject to the 1940 Act.</font></p>

<p style="margin-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:1.0in;text-justify:inter-ideograph;"><font color=black face="Times New Roman" lang=EN-US style="font-size:12.0pt;">14.</font><font color=black face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><u><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">Miscellaneous</font></u><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">.&#160; The captions in this Agreement are included
for convenience of reference only and in no way define or delimit any of the
provisions hereof or otherwise affect their construction or effect.&#160; If any
provision of this Agreement shall be held or made invalid by a court decision,
statute, rule or otherwise, the remainder of this Agreement shall not be
affected thereby.&#160; This Agreement shall be binding on, and shall inure to the
benefit of the parties hereto and their respective successors.</font></p>

<p style="margin-bottom:12.0pt;margin-left:1.0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;text-justify:inter-ideograph;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:1.0in;text-justify:inter-ideograph;"><font color=black face="Times New Roman" lang=EN-US style="font-size:12.0pt;">15.</font><font color=black face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><u><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">Governing Law</font></u><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">.&#160; This Agreement shall be governed by and
construed in accordance with the laws of the State of New York for contracts to
be performed entirely therein without reference to choice of law principles
thereof and in accordance with the applicable provisions of the 1940 Act.</font></p>


<a name="_bclFooter7"></a><DIV>


<p align=center style="margin:0in;text-align:center;"><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;"></font></font><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">7</font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;"></font></font></p>

<p style="margin:0in;"><font face="Times New Roman" lang=EN-US style="font-size:7.5pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</DIV><a name="page_8"></a><a name="_bclPageBorder8"></a><DIV STYLE="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
<p style="margin-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:1.0in;text-justify:inter-ideograph;"><font color=black face="Times New Roman" lang=EN-US style="font-size:12.0pt;">16.</font><font color=black face="times new roman" lang=EN-US style="font-size:7.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><u><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">Counterparts</font></u><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">.&#160; This Agreement may be executed in
counterparts by the parties hereto, each of which shall constitute an original
counterpart, and all of which, together, shall constitute one Agreement. </font></p>

<p style="margin-bottom:12.0pt;margin-left:1.0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:0in;text-justify:inter-ideograph;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p align=center style="margin-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:0in;"><i><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">[Signature Page Follows]</font></i></p>









<a name="_bclFooter8"></a><DIV>


<p align=center style="margin:0in;text-align:center;"><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;"></font></font><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">8</font><font style="display:none;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;"></font></font></p>

<p style="margin:0in;"><font face="Times New Roman" lang=EN-US style="font-size:7.5pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</DIV><a name="page_9"></a><a name="_bclPageBorder9"></a><DIV STYLE="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
<p style="margin-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;text-indent:1.0in;text-justify:inter-ideograph;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">IN WITNESS WHEREOF, the
parties hereto have caused this instrument to be executed by their duly
authorized officers designated below as of the day and year first above
written.</font></p>

<p style="margin-bottom:0in;margin-left:3.0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:3.0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:3.0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">BLACKROCK ADVISORS, LLC</font></p>

<p style="margin-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-indent:1.0in;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:3.0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">By: </font><u><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">/s/ Trent Walker____________&#160;&#160;&#160;&#160;&#160;&#160; <br>
</font></u><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&#160;&#160;&#160;&#160; Name: &#160;Trent Walker<br>
&#160;&#160;&#160;&#160; Title: &#160;&#160;&#160;Managing Director<br>
<br>
</font></p>

<p style="margin-bottom:0in;margin-left:3.0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:3.0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">BLACKROCK (SINGAPORE)</font></p>

<p style="margin-bottom:0in;margin-left:3.0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">LIMITED </font></p>

<p style="margin-bottom:0in;margin-left:3.0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:3.0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:3.0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">By:</font><u><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;"> /s/ Sarah Percy-Dove________<br>
</font></u><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&#160;&#160;&#160;&#160; Name: Sarah Percy-Dove<br>
&#160;&#160;&#160;&#160; Title: &#160;&#160;Managing Director<br>
<br>
</font></p>

<p style="margin-bottom:0in;margin-left:3.0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:3.0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">BLACKROCK (SINGAPORE)</font></p>

<p style="margin-bottom:0in;margin-left:3.0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">LIMITED</font></p>

<p style="margin-bottom:0in;margin-left:3.0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:3.0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:3.0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">By:</font><u><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;"> /s/ Patrick Leung____________<br>
</font></u><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&#160;&#160;&#160;&#160; Name: Patrick Leung <br>
&#160;&#160;&#160;&#160; Title: &#160;&#160;Managing Director<br>
<br>
</font></p>

<p style="margin-bottom:0in;margin-left:3.0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:3.0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=EN-CA style="font-size:12.0pt;text-transform:uppercase;">Blackrock credit allocation income
trust</font></p>

<p style="margin-bottom:0in;margin-left:3.0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:3.0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin-bottom:0in;margin-left:3.0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">By:</font><u><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;"> /s/ John Perlowski____________<br>
</font></u><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&#160;&#160;&#160;&#160; Name: &#160;John Perlowski <br>
&#160;&#160;&#160;&#160; Title: &#160;&#160;&#160;President and Chief Executive </font></p>

<p style="margin-bottom:0in;margin-left:3.0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Officer</font></p>

<p style="margin-bottom:0in;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></p>




<a name="_bclFooter9"></a><DIV>


<p align=center style="margin:0in;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:8.0pt;">Signature Page to BSL Sub-Investment Advisory Agreement</font></p>

<p align=center style="margin:0in;text-align:center;"><font face="Times New Roman" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;"><font face="Times New Roman" lang=EN-US style="font-size:7.5pt;">&nbsp;</font></p>


</DIV>
</DIV>
</BODY>

</HTML>

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>INTERNAL CONTROL RPT
<SEQUENCE>3
<FILENAME>NCEN_811-21972_46655189_1221.htm
<TEXT>

<HTML>
<HEAD>
   <TITLE>tax41124.htm - Generated by SEC Publisher for SEC Filing</TITLE>
</HEAD>

<BODY bgcolor="#ffffff">
<a name="page_1"></a><a name="_bclPageBorder1"></a><DIV STYLE="PADDING-RIGHT: 0%; PADDING-LEFT: 0%">
<p style="margin-bottom:3.15pt;margin-left:0in;margin-right:0pt;margin-top:3.15pt;"><b><font color=black face="times new roman" lang=EN-US style="font-size:10.0pt;line-height:10.0pt;">REPORT
OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM </font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:justify;"><b><font color=black face="times new roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><b><font color=black face="times new roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">To the Shareholders and the Board of Trustees/Directors of
BlackRock Core Bond Trust, BlackRock Corporate High Yield Fund, Inc., BlackRock
Credit Allocation Income Trust, and BlackRock Floating Rate Income Trust:</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="times new roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="times new roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">In
planning and performing our audits of the financial statements </font><font color=black face="times new roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">of BlackRock
Core Bond Trust, BlackRock Corporate High Yield Fund, Inc.,</font><font face=Calibri,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;"> </font><font color=black face="times new roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">BlackRock
Credit Allocation Income Trust, and BlackRock Floating Rate Income Trust </font><font face="times new roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">(the &#8220;Funds&#8221;) as of and for the
year ended December 31, 2021, in accordance with the standards of the Public
Company Accounting Oversight Board (United States) (PCAOB), we considered the
Funds&#8217; internal control over financial reporting, including controls over
safeguarding securities, as a basis for designing our auditing procedures for
the purpose of expressing our opinion on the financial statements and to comply
with the requirements of Form N-CEN, but not for the purpose of expressing an
opinion on the effectiveness of the Funds&#8217; internal control over financial
reporting. Accordingly, we express no such opinion. </font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="times new roman" lang=EN-US style="font-size:10.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:8.0pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="times new roman" lang=EN-US style="font-size:10.0pt;line-height:106%;">The management of the Funds is responsible for
establishing and maintaining effective internal control over financial
reporting. In fulfilling this responsibility, estimates and judgments by
management are required to assess the expected benefits and related costs of
controls. A company&#8217;s internal control over financial reporting is a process
designed to provide reasonable assurance regarding the reliability of financial
reporting and the preparation of financial statements for external purposes in
accordance with generally accepted accounting principles. A company&#8217;s internal
control over financial reporting includes those policies and procedures that
(1) pertain to the maintenance of records that, in reasonable detail,
accurately and fairly reflect the transactions and dispositions of the assets
of the company; (2) provide reasonable assurance that transactions are recorded
as necessary to permit preparation of financial statements in accordance with
generally accepted accounting principles, and that receipts and expenditures of
the company are being made only in accordance with authorizations of management
and directors of the company; and (3) provide reasonable assurance regarding
prevention or timely detection of unauthorized acquisition, use, or disposition
of a company's assets that could have a material effect on the financial
statements. </font></p>

<p style="margin-bottom:8.0pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="times new roman" lang=EN-US style="font-size:10.0pt;line-height:106%;">Because of its inherent limitations, internal control
over financial reporting may not prevent or detect misstatements. Also,
projections of any evaluation of effectiveness to future periods are subject to
the risk that controls may become inadequate because of changes in conditions,
or that the degree of compliance with the policies or procedures may
deteriorate. </font></p>

<p style="margin-bottom:8.0pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="times new roman" lang=EN-US style="font-size:10.0pt;line-height:106%;">A deficiency in internal control over financial
reporting exists when the design or operation of a control does not allow
management or employees, in the normal course of performing their assigned
functions, to prevent or detect misstatements on a timely basis. A material
weakness is a deficiency, or a combination of deficiencies, in internal control
over financial reporting, such that there is a reasonable possibility that a
material misstatement of the company's annual or interim financial statements
will not be prevented or detected on a timely basis. </font></p>

<p style="margin-bottom:8.0pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="times new roman" lang=EN-US style="font-size:10.0pt;line-height:106%;">Our consideration of the Funds&#8217; internal control over
financial reporting was for the limited purpose described in the first
paragraph and would not necessarily disclose all deficiencies in internal
control that might be material weaknesses under standards established by the
PCAOB. However, we noted no deficiencies in the Funds&#8217; internal control over
financial reporting and its operation, including controls for safeguarding
securities, that we consider to be a material weakness, as defined above, as of
December 31, 2021. </font></p>

<p style="margin-bottom:8.0pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="times new roman" lang=EN-US style="font-size:10.0pt;line-height:106%;">This report is intended solely for the information and
use of management and the Board of Trustees/Directors of the Funds and the
Securities and Exchange Commission and is not intended to be and should not be
used by anyone other than these specified parties. </font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="times new roman" lang=EN-US style="font-size:10.0pt;line-height:106%;">/s/Deloitte
&amp; Touche LLP </font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="times new roman" lang=EN-US style="font-size:10.0pt;line-height:106%;">Boston,
Massachusetts </font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><font face="times new roman" lang=EN-US style="font-size:10.0pt;line-height:106%;">February
24, 2022</font></p>




</DIV>
</BODY>

</HTML>

</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
