Blackrock Muniassets Fund Inc is a closed-end fund. Its investment objective is to provide high current income exempt from federal income taxes by investing predominantly in a portfolio of medium-to lower-grade or unrated municipal obligations, the interest on which, in the opinion of bond counsel to the issuer, is exempt from federal income taxes. The majority of the Fund's investments are made in a portfolio of obligations issued by or on behalf of states, territories and possessions of the United States and their political subdivisions, agencies or instrumentalities paying interest which is exempt from federal income taxes (Municipal Bonds). It invests directly in such securities or synthetically through the use of derivatives.