Investment Approach

BlackRock Limited Duration Income Trust’s (BLW) (the 'Fund') investment objective is to provide current income and capital appreciation. The Fund seeks to achieve its investment objective by investing primarily in three distinct asset classes: • Intermediate duration, investment grade corporate bonds, mortgage-related securities, asset-backed securities and US Government and agency securities; • Senior, secured floating rate loans made to corporate and other business entities; and • US dollar-denominated securities of US and non-US issuers rated below investment grade and, to a limited extent, non-US dollar denominated securities of non-US issuers rated below investment grade. The Fund’s portfolio normally has an average portfolio duration of less than five years (including the effect of anticipated leverage), although it may be longer from time to time depending on market conditions. The Fund may invest directly in such securities or synthetically through the use of derivatives. No assurance can be given that the Trust’s investment objective will be achieved.