BLACKROCK CALIFORNIA MUNICIPAL SERIES TRUST
BlackRock California Municipal Opportunities Fund
(the “Fund”)
Supplement dated January 12, 2023 (the “Supplement”) to the Fund’s
Summary Prospectuses and Prospectuses, each dated September 28, 2022, as supplemented to date
The following changes are made to the Fund’s Summary Prospectuses and Prospectuses, as applicable:
The section of the Summary Prospectuses entitled “Key Facts About BlackRock California Municipal Opportunities Fund — Portfolio Managers” and the section of the Prospectuses entitled “Fund Overview — Key Facts About BlackRock California Municipal Opportunities Fund — Portfolio Managers” are deleted in their entirety and replaced with the following:
Portfolio Managers
| Name | Portfolio Manager of the Fund Since |
Title | ||
| Theodore R. Jaeckel, Jr., CFA1 | 2006 | Managing Director of BlackRock, Inc. | ||
| Walter O’Connor, CFA | 1993 | Managing Director of BlackRock, Inc. | ||
| Peter Hayes | 2015 | Managing Director of BlackRock, Inc. | ||
| Michael Kalinoski, CFA | 2015 | Director of BlackRock, Inc. | ||
| Kevin Maloney, CFA | 2022 | Director of BlackRock, Inc. | ||
| Michael Perilli, CFA | 2022 | Director of BlackRock, Inc. |
| 1 | On or about March 1, 2023, Theodore R. Jaeckel, Jr. will retire from BlackRock, Inc., and will no longer serve as a portfolio manager of the Fund. |
The section of the Prospectuses entitled “Details About the Funds — How Each Fund Invests — About the Portfolio Management Team of the California Fund” is deleted in its entirety and replaced with the following:
| ABOUT THE PORTFOLIO MANAGEMENT TEAM OF THE CALIFORNIA FUND |
| The California Fund is managed by a team of financial professionals. Theodore R. Jaeckel, Jr., CFA1, Walter O’Connor, CFA, Peter Hayes, Michael Kalinoski, CFA, Kevin Maloney, CFA and Michael Perilli, CFA, are the co-portfolio managers and are jointly and primarily responsible for the day-to-day management of the Fund. Please see “Management of the Funds — Portfolio Manager Information” for additional information about the portfolio management team. |
| 1 | On or about March 1, 2023, Theodore R. Jaeckel, Jr. will retire from BlackRock, Inc., and will no longer serve as a portfolio manager of the Fund. |
The section of the Prospectuses entitled “Management of the Funds — Portfolio Manager Information — California Fund” is deleted in its entirety and replaced with the following:
California Fund
The Fund is managed by a team of financial professionals. Walter O’Connor, CFA, Theodore R. Jaeckel, Jr., CFA, Peter Hayes, Michael Kalinoski, CFA, Kevin Maloney, CFA and Michael Perilli, CFA, are the co-portfolio managers and are jointly and primarily responsible for the day-to-day management of the Fund.
| Portfolio Manager | Primary Role | Since | Title and Recent Biography | |||
| Walter O’Connor, CFA, Co-portfolio manager | Jointly and primarily responsible for the day-to-day management of the Fund’s portfolio, including setting the Fund’s overall investment strategy and overseeing the management of the Fund. | 1993 | Managing Director of BlackRock, Inc. since 2006. | |||
| Theodore R. Jaeckel, Jr., CFA, Co-portfolio manager1 | Jointly and primarily responsible for the day-to-day management of the Fund’s portfolio, including setting the Fund’s overall investment strategy and overseeing the management of the Fund. | 2006 | Managing Director of BlackRock, Inc. since 2006. | |||
| Peter Hayes, Co-portfolio manager | Jointly and primarily responsible for the day-to-day management of the Fund’s portfolio, including setting the Fund’s overall investment strategy and overseeing the management of the Fund. | 2015 | Managing Director of BlackRock, Inc. since 2006; Head of Municipal Bonds within BlackRock Fixed Income Portfolio Management Group since 2006. | |||
| Michael Kalinoski, CFA, Co-portfolio manager | Jointly and primarily responsible for the day-to-day management of the Fund’s portfolio, including setting the Fund’s overall investment strategy and overseeing the management of the Fund. | 2015 | Director of BlackRock, Inc. since 2006. | |||
| Kevin Maloney, CFA, Co-portfolio manager | Jointly and primarily responsible for the day-to-day management of the Fund’s portfolio, including setting the Fund’s overall investment strategy and overseeing the management of the Fund. | 2022 | Director of BlackRock, Inc. since 2021; Vice President of BlackRock, Inc. from 2018 to 2020; Associate of BlackRock, Inc. from 2014 to 2017; Analyst of BlackRock, Inc. from 2011 to 2013. | |||
| Michael Perilli, CFA, Co-portfolio manager | Jointly and primarily responsible for the day-to-day management of the Fund’s portfolio, including setting the Fund’s overall investment strategy and overseeing the management of the Fund. | 2022 | Director of BlackRock, Inc. since 2021; Vice President of BlackRock, Inc. from 2017 to 2020; Associate of BlackRock, Inc. from 2011 to 2016. |
| 1 | On or about March 1, 2023, Theodore R. Jaeckel, Jr. will retire from BlackRock, Inc., and will no longer serve as a portfolio manager of the Fund. |
Shareholders should retain this Supplement for future reference.
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