EXHIBIT 17(a)

                                  PROXY CARD


                  INDEPENDENCE SQUARE INCOME SECURITIES, INC.


               Special Meeting of Shareholders - March ___, 2000


     The undersigned hereby appoints _______________ and _______________ (the
"Proxies") and each of them, attorneys and Proxies of the undersigned, each with
power of substitution and resubstitution, to attend, vote and act for the
undersigned at the Special Meeting of Shareholders of Independence Square Income
Securities, Inc. ("ISIS") to be held at the offices of BlackRock Institutional
Management Corporation, Bellevue Park Corporate Center, 400 Bellevue Parkway,
Fourth Floor Conference Room, Wilmington, Delaware 19809 at __ a.m./ p.m.
(Eastern Time) on March __, 2000, and at any adjournment or adjournments thereof
(the "Meeting"). The Proxies will cast votes according to the number of shares
of ISIS which the undersigned may be entitled to vote with respect to the
proposals set forth below, in accordance with the specification indicated, if
any, and with all the powers which the undersigned would possess if personally
present. The undersigned hereby revokes any prior proxy to vote at such meeting,
and hereby ratifies and confirms all that said attorneys and Proxies, or either
of them, may lawfully do by virtue thereof.

The undersigned hereby acknowledges receipt of the Notice of Special Meeting of
Shareholders and the Combined Prospectus/Proxy Statement, dated January ____,
2000.

This proxy is solicited by the Board of Directors of ISIS, which unanimously
recommends that you vote in favor of the proposal.

This proxy will be voted as specified below with respect to the action to be
taken on the following proposal.

(1)  To approve the Agreement and Plan of Reorganization, attached to the
     Combined Prospectus/Proxy Statement for the Meeting, by and between ISIS
     and BlackRock FundsSM ("BlackRock") which provides for (a) the transfer of
     all of the assets and liabilities of ISIS to BlackRock's High Yield Bond
     Portfolio in exchange for Series B Investor Shares of the High Yield Bond
     Portfolio; (b) the distribution of such Series B Investor Shares to the
     shareholders of ISIS in connection with its liquidation; (c) the amendment
     to ISIS' by-laws and fundamental investment limitation to provide that ISIS
     may purchase securities of another investment company in connection with a
     merger, consolidation, reorganization or purchase of assets approved by
     stockholders, or as otherwise permitted by the Investment Company Act of
     1940, as amended ("1940 Act"); and (d) the dissolution under state law and
     the deregistration under the 1940 Act, of ISIS.

         [_] For                  [_] Against              [_] Abstain

(2)  In their discretion, the proxies are authorized to vote upon such other
     business as may properly come before the Meeting.

Please sign, date and return the proxy card promptly using the enclosed
envelope. Every properly signed proxy will be voted in the manner specified
hereon and, in the absence of specification, will be treated as granting
authority to vote "FOR" the proposal.

Please sign exactly as name(s) appear hereon. When shares are held by joint
tenants, both should sign. When signing as attorney or executor, administrator,
trustee or guardian, please give full title as such. If a corporation, please
sign in full corporate name by president or other authorized officer. If a
partnership, please sign in partnership name by authorized person.

_____________________________           ________________________________________
SIGNATURE                DATE           SIGNATURE (JOINT OWNER)             DATE