Company: MYI
Filing Date: 2025-09-02
Form Type: N-14 8C/A
Source: 0001193125-25-193985
Chunk: 208

Company: BLACKROCK MUNIYIELD QUALITY FUND III, INC.
Filing Date: 2025-09-02
Form: N-14 8C/A
Chunk 208
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 leverage embedded in them will result in a higher return on its common shares. Under Rule 18f-4 under the 1940 Act, among other things, MIY must either use derivatives in a limited manner or comply
with an outer limit on fund leverage risk based on value-at-risk.

Temporary Borrowings.MIY may also borrow money as a temporary measure for extraordinary or emergency purposes, including the payment of dividends and
the settlement of securities transactions which otherwise might require untimely dispositions of MIY securities.

MVF’s Investment Objective and Policies

MVF’s investment objective is to provide stockholders with as high a level of current income exempt from federal income taxes as is consistent with its
investment policies and prudent investment management. MVF’s investment policies provide that it seeks to achieve its investment objective by investing, as a fundamental policy, at least 80% of an aggregate of MVF’s net assets (including
proceeds from the issuance of preferred stock), and the proceeds of any borrowings for investment purposes, in a portfolio of municipal obligations issued by or on behalf of states, territories and possessions of the United States and their
political subdivisions, agencies or instrumentalities, each of which pays interest that, in the opinion of bond counsel to the issuer, is excludable from gross income for federal income tax purposes (except that the interest may be includable in
taxable income for purposes of the Federal alternative minimum tax) (“”). MVF may invest directly in securities or synthetically through the use of derivatives. There can be no assurance that MVF’s
investment objective will be realized.

MVF may invest up to 20% of its managed assets in securities that are rated below investment grade, or are
considered by the Investment Advisor to be of comparable quality, at the time of purchase, subject to MVF’s other investment policies. Bonds of below investment grade quality are regarded as having predominantly speculative characteristics
with respect to the issuer’s capacity to pay interest and repay principal. Such securities, sometimes referred to as “high yield” or “junk” bonds, are predominantly speculative with respect to the capacity to pay
interest and repay principal in accordance with the terms of the security and generally involve a greater volatility of price than securities in higher rating categories. Below investment grade securities and comparable unrated securities involve
substantial risk of loss, are considered speculative with respect to the issuer’s ability to pay interest and any required redemption or principal payments and are susceptible to default or decline in market value due