BlackRock Floating Rate Income Trust is a closed-end fund. The Trust’s primary investment objective is to provide a high level of current income. The Trust’s secondary investment objective is to seek the preservation of capital. The Trust seeks to achieve its investment objectives by investing primarily, under normal conditions, at least 80% of its assets in floating and variable rate instruments of United States and non- United States issuers, including a substantial portion of its assets in global floating and variable rate securities including senior secured floating rate loans made to corporate and other business entities. BlackRock Advisors, LLC is the investment advisor of BlackRock Floating Rate Income Trust.