UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM N-Q

 

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY

 

Investment Company Act file number 811-21793

 

Name of Fund: BlackRock Enhanced Government Fund, Inc. (EGF)

 

Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809

 

Name and address of agent for service: John M. Perlowski, Chief Executive Officer, BlackRock Enhanced Government Fund, Inc., 55 East 52nd Street, New York, NY 10055

 

Registrant’s telephone number, including area code: (800) 882-0052, Option 4

 

Date of fiscal year end: 12/31/2012

 

Date of reporting period: 03/31/2012

 

Item 1 – Schedule of Investments

 

 

 

 

 

Schedule of Investments March 31, 2012 (Unaudited)

BlackRock Enhanced Government Fund, Inc. (EGF)

(Percentages shown are based on Net Assets)

 

 

 

 

 

 

 

 

Asset-Backed Securities (a)

 

Par
(000)

 

Value

 

First Franklin Mortgage Loan
Asset-Backed Certificates,
Series 2005-FF2, Class M2,
0.68%, 3/25/35

 

$

3,220

 

$

3,017,571

 

Securitized Asset-Backed Receivables
LLC Trust:

 

 

 

 

 

 

 

Series 2005-0P1, Class M2,
0.69%, 1/25/35

 

 

2,000

 

 

1,399,538

 

Series 2005-OP2, Class M1,
0.67%, 10/25/35

 

 

1,025

 

 

620,415

 

Soundview Home Equity Loan
Trust, Series 2007-OPT5, Class
2A2, 1.19%, 10/25/37

 

 

2,500

 

 

1,205,298

 

Total Asset-Backed Securities – 3.5%

 

 

 

 

 

6,242,822

 

 

 

Non-Agency Mortgage-Backed Securities

 

 

 

 

 

 

 

Collateralized Mortgage Obligations — 1.6%

 

 

 

 

 

 

 

Bank of America Mortgage
Securities, Inc., Series 2003-J,
Class 2A1, 2.84%, 11/25/33 (a)

 

 

266

 

 

255,562

 

Bear Stearns Alt-A Trust,
Series 2004-13, Class A1,
0.98%, 11/25/34 (a)

 

 

356

 

 

335,847

 

Countrywide Alternative Loan
Trust, Series 2006-41CB,
Class 2A17, 6.00%, 1/25/37

 

 

824

 

 

535,427

 

Homebanc Mortgage Trust,
Series 2005-4, Class A1, 0.51%,
10/25/35 (a)

 

 

1,515

 

 

1,063,526

 

Thornburg Mortgage Securities
Trust, Series 2007-2, Class A2A,
0.37%, 6/25/37 (a)

 

 

713

 

713,747

 

 

 

 

 

 

 

2,904,109

 

Commercial Mortgage-Backed Securities — 3.8%

 

 

 

 

 

 

 

Commercial Mortgage Pass-
Through Certificates, Series
2007-C9, Class A2, 5.81%,
12/10/49 (a)

 

 

2,841

 

 

2,855,305

 

Credit Suisse Mortgage Capital
Certificates, Series 2007-C5,
Class A2, 5.59%, 9/15/40

 

 

3,083

 

 

3,107,507

 

LB-UBS Commercial Mortgage
Trust, Series 2007-C1, Class A2,
5.32%, 2/15/40

 

 

696

 

 

696,168

 

 

 

 

 

 

 

6,658,980

 

 

 

 

 

 

 

 

 

Non-Agency Mortgage-Backed Securities

 

Par
(000)

 

Value

 

Interest Only Collateralized Mortgage Obligations — 0.0%

 

 

 

 

 

 

 

CitiMortgage Alternative Loan
Trust, Series 2007-A5, Class
1A7, 6.00%, 5/25/37

 

$

467

 

$

86,877

 

Total Non-Agency Mortgage-Backed Securities – 5.4%

 

 

 

 

 

9,649,966

 

 

 

Preferred Securities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Capital Trusts

 

 

 

 

 

 

 

Diversified Financial Services — 1.2%

 

 

 

 

 

 

 

JPMorgan Chase Capital XXII,
6.45%, 1/15/87

 

 

2,000

 

 

2,000,000

 

Electric Utilities — 1.1%

 

 

 

 

 

 

 

PPL Capital Funding, 6.70%,
3/30/67 (a)

 

 

2,000

 

 

2,000,000

 

Insurance — 0.3%

 

 

 

 

 

 

 

ZFS Finance (USA) Trust V, 6.50%,
5/09/67 (a)(b)

 

 

504

 

 

486,360

 

Total Capital Trusts – 2.6%

 

 

 

 

 

4,486,360

 

 

 

Trust Preferreds

 

Shares

 

 

 

 

Capital Markets — 1.1%

 

 

 

 

 

 

 

Morgan Stanley Capital Trust VIII,
6.45%, 4/15/67

 

 

80,000

 

 

1,919,608

 

Media — 1.1%

 

 

 

 

 

 

 

Comcast Corp., 6.63%, 5/15/56

 

 

80,000

 

 

2,006,702

 

Total Trust Preferreds – 2.2%

 

 

 

 

 

3,926,310

 

Total Preferred Securities – 4.8%

 

 

 

 

 

8,412,670

 

 

Taxable Municipal Bonds

 

Par
(000)

 

 

 

 

State of California, GO, Various
Purpose 3, Mandatory Put
Bonds, 5.65%, 4/01/39 (a)

 

$

1,220

 

 

1,280,744

 

Total Taxable Municipal Bonds – 0.7%

 

 

 

 

 

1,280,744

 

 

 

 

 

 

 

 

 

 

 

BLACKROCK ENHANCED GOVERNMENT FUND, INC.

MARCH 31, 2012

1


 

 

 

 

Schedule of Investments (continued)

BlackRock Enhanced Government Fund, Inc. (EGF)

(Percentages shown are based on Net Assets)

 

 

 

 

 

 

 

 

US Government Sponsored Agency Securities

 

Par
(000)

 

Value

 

Agency Obligations — 14.4%

 

 

 

 

 

 

 

Fannie Mae:

 

 

 

 

 

 

 

5.25%, 8/01/12 (c)

 

$

2,460

 

$

2,499,207

 

4.00%, 2/01/41

 

 

18,034

 

 

18,920,036

 

Federal Farm Credit Bank, 4.55%,
6/08/20 (d)

 

 

3,500

 

 

4,147,941

 

 

 

 

 

 

 

25,567,184

 

Collateralized Mortgage Obligations — 11.4%

 

 

 

 

 

 

 

Ginnie Mae Mortgage-Backed
Securities, Class C (a):

 

 

 

 

 

 

 

Series 2005-87, 5.13%,
9/16/34

 

 

8,759

 

 

9,252,555

 

Series 2006-3, 5.24%,
4/16/39

 

 

10,000

 

 

11,045,130

 

 

 

 

 

 

 

20,297,685

 

Interest Only Collateralized Mortgage Obligations — 2.3%

 

 

 

 

 

 

 

Fannie Mae Mortgage-Backed
Securities:

 

 

 

 

 

 

 

Series 2010-126, Class UI,
5.50%, 10/25/40

 

 

3,799

 

 

647,013

 

Series 2012-47, Class NI,
4.50%, 4/25/42

 

 

3,000

 

 

581,250

 

Ginnie Mae Mortgage-Backed Securities (a):

 

 

 

 

 

 

 

Series 2006-30, Class, 0.57%,
5/16/46

 

 

5,829

 

 

178,382

 

Series 2009-78, Class SD,
5.96%, 9/20/32

 

 

3,993

 

 

715,423

 

Series 2011-52, Class NS,
6.43%, 4/16/41

 

 

10,742

 

 

1,945,068

 

 

 

 

 

 

 

4,067,136

 

Mortgage-Backed Securities — 69.4%

 

 

 

 

 

 

 

Fannie Mae Mortgage-Backed
Securities:

 

 

 

 

 

 

 

3.50%, 8/01/26 - 12/01/41

 

 

17,918

 

 

18,778,353

 

4.00%, 4/01/24 – 2/01/41

 

 

14,214

 

 

15,056,509

 

4.50%, 5/01/34 - 7/01/40

 

 

19,464

 

 

20,953,189

 

4.86%, 2/01/13

 

 

3,968

 

 

4,007,114

 

5.00%, 11/01/33 - 2/01/40 (c)

 

 

15,612

 

 

16,969,924

 

5.24%, 4/01/12

 

 

7,939

 

 

7,935,606

 

5.50%, 10/01/23 – 4/12/42 (c)

 

 

15,937

 

 

17,499,894

 

6.00%, 2/01/36 (e)

 

 

19,377

 

 

21,357,627

 

Freddie Mac Mortgage-Backed
Securities, 4.50%, 5/01/34

 

 

520

 

 

552,908

 

Ginnie Mae Mortgage-Backed
Securities, 5.00%, 11/15/35

 

 

23

 

 

25,216

 

 

 

 

 

 

 

123,136,340

 

Total US Government Sponsored Agency
Securities – 97.5%

 

 

 

 

 

173,068,345

 

 

 

US Treasury Obligations

 

Par
(000)

 

Value

 

US Treasury Bonds (d):

 

 

 

 

 

 

 

6.63%, 2/15/27

 

$

4,000

 

$

5,870,000

 

3.88%, 8/15/40

 

 

12,000

 

 

13,273,128

 

4.38%, 5/15/41

 

 

10,000

 

 

12,021,880

 

3.75%, 8/15/41

 

 

12,000

 

 

12,973,128

 

US Treasury Notes:

 

 

 

 

 

 

 

0.25%, 1/31/14

 

 

300

 

 

299,567

 

0.88%, 11/30/16 (d)

 

 

16,735

 

 

16,664,395

 

3.13%, 5/15/21 (d)

 

 

10,000

 

 

10,884,380

 

2.13%, 8/15/21 (c)

 

 

2,000

 

 

1,998,594

 

2.00%, 2/15/22

 

 

2,000

 

 

1,961,562

 

Total US Treasury Obligations – 42.8%

 

 

 

 

 

75,946,634

 

Total Long-Term Investments
(Cost – $267,681,493) – 154.7%

 

 

 

 

 

274,601,181

 

 

 

Short-Term Securities

 

 

 

 

 

 

 

 

 

 

 

 

 

Money Market Funds — 1.2%

 

Shares

 

 

 

BlackRock Liquidity Funds,
TempFund, Institutional Class,
0.14% (f)(g)

 

 

2,168,228

 

 

2,168,228

 

Total Short-Term Securities
(Cost – $2,168,228) – 1.2%

 

 

 

 

 

2,168,228

 

Total Investments Before TBA Sale
Commitments and Options Written
(Cost – $269,849,721*) – 155.9%

 

 

 

 

 

276,769,409

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

TBA Sale Commitments (e)

 

Par
(000)

 

 

 

Fannie Mae Mortgage-Backed
Securities, 5.50%, 10/01/23 –
4/12/42

 

$

15,000

 

 

(16,342,968

)

Total TBA Sale Commitments
(Proceeds – $16,345,313) – (9.2)%

 

 

 

 

 

(16,342,968

)

 

 

 

 

 

 

 

 

 

 

BLACKROCK ENHANCED GOVERNMENT FUND, INC.

MARCH 31, 2012

2


 

 

 

 

Schedule of Investments (continued)

BlackRock Enhanced Government Fund, Inc. (EGF)

(Percentages shown are based on Net Assets)

 

 

 

 

 

 

 

 

Options Written

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Notional
Amount
(000)

 

Value

 

Over-the-Counter Interest Rate Call Swaptions — (0.2)%

 

 

 

 

 

 

 

Pay a fixed rate of 0.55% and receive
a floating rate based on 6-month
LIBOR, Expires 4/30/12, Broker
Barclays Bank Plc

 

$

50,000

 

$

(15,000

)

Pay a fixed rate of 1.20% and receive
a floating rate based on 3-month
LIBOR, Expires 4/30/12, Broker
Barclays Bank Plc

 

 

25,000

 

 

(50,000

)

Pay a fixed rate of 2.15% and receive
a floating rate based on 3-month
LIBOR, Expires 4/30/12, Broker
Barclays Bank Plc

 

 

30,000

 

 

(141,000

)

Pay a fixed rate of 2.90% and receive
a floating rate based on 3-month
LIBOR, Expires 4/30/12, Broker
Barclays Bank Plc

 

 

10,000

 

 

(131,000

)

Total Options Written
(Premiums Received – $337,000) – (0.2)%

 

 

 

 

 

(337,000

)

Total Investments, Net of TBA Sale Commitments and
Options Written – 146.5%

 

 

 

 

 

260,089,441

 

Liabilities in Excess of Other Assets – (46.5)%

 

 

 

 

 

(82,572,597

)

Net Assets – 100.0%

 

 

 

 

$

177,516,844

 

 

 

 

*

As of March 31, 2012, gross unrealized appreciation and gross unrealized depreciation based on cost for federal income tax purposes were as follows:

 

 

 

 

 

Tax cost

 

$

269,849,721

 

Gross unrealized appreciation

 

$

10,263,577

 

Gross unrealized depreciation

 

 

(3,343,889

)

Net unrealized appreciation

 

$

6,919,688

 

 

 

(a)

Variable rate security. Rate shown is as of report date.

 

 

(b)

Security exempt from registration pursuant to Rule 144a under the Securities Act of 1933. These securities may be resold in transactions exempt from registration to qualified institutional investors.

 

 

(c)

All or a portion of security has been pledged as collateral in connection with swaps.

 

 

(d)

All or a portion of security has been pledged as collateral in connection with open reverse repurchase agreements.

 

 

(e)

Represents or includes a TBA transaction. Unsettled TBA transactions as of March 31, 2012 were as follows:

 

 

 

 

 

 

 

 

 

 

Counterparty

 

Value

 

Unrealized
Appreciation

 

 

Goldman Sachs & Co.

 

$

182,814

 

$

2

 

 

 

(f)

Investments in companies considered to be an affiliate of the Fund during the period, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

 

 

 

 

 

 

 

 

 

 

 

Affiliate

 

Shares
Held at
December 31,
2011

 

Net
Activity

 

Shares
Held at
March 31,
2012

 

 

Income

 

BlackRock
Liquidity
Funds,
TempFund,
Institutional
Class

 

7,261,074

 

(5,092,846

)

2,168,228

 

$

1,889

 

 

 

(g)

Represents the current yield as of report date.

 

Portfolio Abbreviations

To simplify the listings of portfolio holdings in the Schedule of Investments, the names and descriptions of many of the securities have been abbreviated according to the following list:

 

 

GO

General Obligation Bonds

LIBOR

London Interbank Offered Rate

TBA

To Be Announced

 

 

•

Reverse repurchase agreements outstanding as of March 31, 2012 were as follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Counterparty

 

Interest
Rate

 

Trade
Date

 

Maturity
Date1

 

Net Closing
Amount

 

Face
Amount

 

Credit Suisse Securities
(USA) LLC

 

0.00%

 

1/09/12

 

Open

 

$

15,037,500

 

$

15,037,500

 

Deutsche Bank AG

 

0.16%

 

1/19/12

 

Open

 

 

6,212,062

 

 

6,210,000

 

Deutsche Bank AG

 

0.18%

 

1/19/12

 

Open

 

 

12,879,446

 

 

12,875,000

 

Deutsche Bank AG

 

0.18%

 

1/19/12

 

Open

 

 

4,133,457

 

 

4,130,000

 

Credit Suisse Securities
(USA) LLC

 

0.10%

 

1/31/12

 

Open

 

 

14,027,376

 

 

14,025,000

 

Merrill Lynch & Co., Inc.

 

0.15%

 

2/16/12

 

Open

 

 

11,239,649

 

 

11,237,500

 

Credit Suisse Securities
(USA) LLC

 

0.20%

 

3/20/12

 

Open

 

 

13,005,867

 

 

13,005,000

 

Total

 

 

 

 

 

 

 

$

76,535,357

 

$

76,520,000

 

 

 

1

Certain agreements have no stated maturity and can be terminated by either party at any time.

 

 

 

 

 

 

 

 

 

BLACKROCK ENHANCED GOVERNMENT FUND, INC.

MARCH 31, 2012

3


 

 

 

 

Schedule of Investments (continued)

BlackRock Enhanced Government Fund, Inc. (EGF)

 

 

•

Financial futures contracts sold as of March 31, 2012 were as follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Contracts

 

Issue

 

Exchange

 

Expiration

 

Notional
Value

 

Unrealized
Depreciation

 

9

 

90-Day Euro-Dollar

 

Chicago Mercantile

 

June 2012

 

$

2,239,425

 

$

(250

)

9

 

90-Day Euro-Dollar

 

Chicago Mercantile

 

September 2012

 

$

2,238,975

 

 

(475

)

9

 

90-Day Euro-Dollar

 

Chicago Mercantile

 

December 2012

 

$

2,238,300

 

 

(925

)

9

 

90-Day Euro-Dollar

 

Chicago Mercantile

 

March 2013

 

$

2,237,625

 

 

(1,487

)

7

 

90-Day Euro-Dollar

 

Chicago Mercantile

 

June 2013

 

$

1,739,413

 

 

(1,235

)

7

 

90-Day Euro-Dollar

 

Chicago Mercantile

 

September 2013

 

$

1,738,100

 

 

(1,469

)

7

 

90-Day Euro-Dollar

 

Chicago Mercantile

 

December 2013

 

$

1,736,350

 

 

(1,507

)

7

 

90-Day Euro-Dollar

 

Chicago Mercantile

 

March 2014

 

$

1,734,600

 

 

(1,635

)

5

 

90-Day Euro-Dollar

 

Chicago Mercantile

 

June 2014

 

$

1,237,375

 

 

(1,264

)

5

 

90-Day Euro-Dollar

 

Chicago Mercantile

 

September 2014

 

$

1,235,563

 

 

(1,451

)

5

 

90-Day Euro-Dollar

 

Chicago Mercantile

 

December 2014

 

$

1,233,312

 

 

(1,451

)

5

 

90-Day Euro-Dollar

 

Chicago Mercantile

 

March 2015

 

$

1,231,125

 

 

(1,576

)

Total

 

 

 

 

 

 

 

 

 

 

$

(14,725

)

 

 

•

Interest rate swaps outstanding as of March 31, 2012 were as follows:


 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed
Rate

 

Floating
Rate

 

Counterparty

 

Expiration
Date

 

Notional
Amount
(000)

 

Unrealized
Depreciation

 

5.96%1

 

3-Month LIBOR

 

Deutsche Bank AG

 

12/27/37

 

$

23,900

 

$

(13,009,470

)

 

 

1

Fund pays a fixed interest rate and receives a floating rate.

 

 

 

•

Fair Value Measurements - Various inputs are used in determining the fair value of investments and derivative financial instruments. These inputs are categorized into a disclosure hierarchy consisting of three broad levels for financial reporting purposes as follows:

 

 

 

•

Level 1 — unadjusted price quotations in active markets/exchanges for identical assets and liabilities

 

 

 

 

•

Level 2 — other observable inputs (including, but not limited to: quoted prices for similar assets or liabilities in markets that are active, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the assets or liabilities (such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and default rates) or other market-corroborated inputs)

 

 

 

 

•

Level 3 — unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are not available (including the Fund’s own assumptions used in determining the fair value of investments and derivative financial instruments)

 

 

 

Changes in valuation techniques may result in transfers into or out of an assigned level within the disclosure hierarchy. In accordance with the Fund’s policy, transfers between different levels of the fair value disclosure hierarchy are deemed to have occurred as of the beginning of the reporting period. The categorization of a value determined for investments and derivative financial instruments is based on the pricing transparency of the investment and derivative financial instrument and is not necessarily an indication of the risks associated with investing in those securities. For information about the Fund’s policy regarding valuation of investments and derivative financial instruments and other significant accounting policies, please refer to the Fund’s most recent financial statements as contained in its annual report.

 

 

 

 

 

 

 

 

 

BLACKROCK ENHANCED GOVERNMENT FUND, INC.

MARCH 31, 2012

4


 

 

 

 

Schedule of Investments (concluded)

BlackRock Enhanced Government Fund, Inc. (EGF)

 

The following tables summarize the inputs used as of March 31, 2012 in determining the fair valuation of the Fund’s investments and derivative financial instruments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Valuation Inputs

 

Level 1

 

Level 2

 

Level 3

 

Total

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

Investments

 

 

 

 

 

 

 

 

 

 

 

 

 

Long Term Investments:

 

 

 

 

 

 

 

 

 

 

 

 

 

Asset-Backed Securities

 

 

—

 

$

6,242,822

 

 

—

 

$

6,242,822

 

Non-Agency Mortgage-Backed Securities

 

 

—

 

 

9,649,966

 

 

—

 

 

9,649,966

 

Preferred Securities

 

$

3,926,310

 

 

4,486,360

 

 

—

 

 

8,412,670

 

Taxable Municipal Bonds

 

 

—

 

 

1,280,744

 

 

—

 

 

1,280,744

 

US Government Sponsored Agency Securities

 

 

—

 

 

173,068,345

 

 

—

 

 

173,068,345

 

US Treasury Obligations

 

 

—

 

 

75,946,634

 

 

—

 

 

75,946,634

 

Short-Term Securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

Money Market Funds

 

 

2,168,228

 

 

—

 

 

—

 

 

2,168,228

 

Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

 

Long Term Investments:

 

 

 

 

 

 

 

 

 

 

 

 

 

TBA Sale Commitments

 

 

—

 

 

(16,342,968

)

 

—

 

 

(16,342,968

)

Total

 

$

6,094,538

 

$

254,331,903

 

 

—

 

$

260,426,441

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Valuation Inputs

 

Level 1

 

Level 2

 

Level 3

 

Total

 

Derivative Financial Instruments1

 

 

 

 

 

 

 

 

 

 

 

 

 

Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest rate contracts

 

$

(14,725

)

$

(13,346,470

)

 

—

 

$

(13,361,195

)

 

 

1

Derivative financial instruments are swaps, financial futures contracts and options written. Swaps and financial futures contracts are valued at the unrealized appreciation/depreciation on the instrument and options written are shown at value.

Certain of the Fund’s assets and liabilities are held at carrying or face amount which approximates fair value. Such assets and liabilities are categorized within the disclosure hierarchy as follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Valuation Inputs

 

Level 1

 

Level 2

 

Level 3

 

Total

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash pledged
as collateral
for financial
futures
contracts

 

$

6,743,000

 

 

—

 

 

—

 

$

6,743,000

 

Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

 

Reverse
repurchase
agreements

 

 

—

 

$

(76,520,000

)

 

—

 

 

(76,520,000

)

Total

 

$

6,743,000

 

$

(76,520,000

)

 

—

 

$

(69,777,000

)

There were no transfers between levels during the period ended March 31, 2012.

 

 

 

 

 

 

 

 

 

BLACKROCK ENHANCED GOVERNMENT FUND, INC.

MARCH 31, 2012

5

Item 2 –

Controls and Procedures

 

 

2(a) –

The registrant’s principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the “1940 Act”)) are effective as of a date within 90 days of the filing of this report based on the evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act and Rule 13a-15(b) under the Securities Exchange Act of 1934, as amended.

 

 

2(b) –

There were no changes in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act) that occurred during the registrant’s last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the registrant’s internal control over financial reporting.

 

 

Item 3 –

Exhibits

 

 

 

Certifications – Attached hereto

 

 

 

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

 

 

BlackRock Enhanced Government Fund, Inc.

 

 
  By: /s/ John M. Perlowski  
    John M. Perlowski
    Chief Executive Officer (principal executive officer) of
    BlackRock Enhanced Government Fund, Inc.
   
  Date: May 23, 2012
   
  Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
   
  By: /s/ John M. Perlowski  
    John M. Perlowski
    Chief Executive Officer (principal executive officer) of
    BlackRock Enhanced Government Fund, Inc.
   
  Date: May 23, 2012
   
  By: /s/ Neal J. Andrews  
    Neal J. Andrews
    Chief Financial Officer (principal financial officer) of
    BlackRock Enhanced Government Fund, Inc.
     
  Date: May 23, 2012