We learned from Fund Action that a Prospectus Supplement for the BlackRock Cash Funds: Prime explains, "On February 23, 2017, the Board of Trustees of BlackRock Funds III ... approved a proposal to close the Fund to new purchases and thereafter to liquidate the Fund. Accordingly, effective 3:​00 p.​m. (​Eastern time) on April 24, 2017, the Fund will no longer accept purchase orders. On or about April 28, 2017, all of the assets of the Fund will be liquidated completely, the shares of any shareholders holding shares on the Liquidation Date will be redeemed at the 3:​00 p.​m. (​Eastern time) net asset value per share and the Fund will then be terminated as a series of the Trust. Shareholders may redeem their Fund shares or exchange their shares into an appropriate class of shares of another money market fund advised by BlackRock Advisors, LLC or its affiliates, at any time prior to the Liquidation Date. The Fund may not achieve its investment objective as the Liquidation Date approaches. Shareholders should consult their personal tax advisers concerning their tax situation and the impact of the liquidation or exchanging to a different fund on their tax situation." BlackRock Cash Prime MMF Inst (​BPIXX) currently has just $​355 million in 3 share classes. The BlackRock Cash money funds, formerly Barclays Global Investors MMFs, have been shedding almost all of their non-​securities lending assets, but the "​SL" shares continue to hold sizeable balances in their Inst MMF and Treasury MMF.

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