UNITED STATES

 SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549



FORM N-PX



ANNUAL REPORT OF PROXY VOTING RECORD OF REGISTERED MANAGEMENT

INVESTMENT COMPANY



Investment Company Act file number 811-21931



Name of Fund: BlackRock Real Asset Equity Trust (BCF)



Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809



Name and address of agent for service: Anne Ackerley, Chief Executive Officer,

BlackRock Real Asset Equity

Trust, 40 East 52(nd) Street, New York City, NY 10022.



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



Date of fiscal year end: 10/31



Date of reporting period: 07/01/2008 -- 06/30/2009



Item 1 -- Proxy Voting Record -- Attached hereto.



Pursuant to the requirements of 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 Real Asset Equity Trust



By: /s/ Anne Ackerley

Anne Ackerley

Chief Executive Officer of

BlackRock Real Asset Equity Trust



Date: August 14, 2009




******************************* FORM N-Px REPORT *******************************

ICA File Number: 811-21931
Reporting Period: 07/01/2008 - 06/30/2009
BlackRock Real Asset Equity Trust









====================== BLACKROCK REAL ASSET EQUITY TRUST =======================


AGRIUM INC.

Ticker:       AGU            Security ID:  008916108
Meeting Date: MAY 13, 2009   Meeting Type: Annual
Record Date:  MAR 23, 2009

#     Proposal                                Mgt Rec   Vote Cast    Sponsor
1.1   Elect Director Ralph S. Cunningham      For       For          Management
1.2   Elect Director Germaine Gibara          For       For          Management
1.3   Elect Director Russell K. Girling       For       For          Management
1.4   Elect Director Susan A. Henry           For       For          Management
1.5   Elect Director Russell J. Horner        For       For          Management
1.6   Elect Director A. Anne McLellan         For       For          Management
1.7   Elect Director Derek G. Pannell         For       For          Management
1.8   Elect Director Frank W. Proto           For       For          Management
1.9   Elect Director Michael M. Wilson        For       For          Management
1.10  Elect Director Victor J. Zaleschuk      For       For          Management
2     Approve KPMG LLP as Auditors and        For       For          Management
      Authorize Board to Fix Their
      Remuneration


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AIR PRODUCTS & CHEMICALS, INC.

Ticker:       APD            Security ID:  009158106
Meeting Date: JAN 22, 2009   Meeting Type: Annual
Record Date:  NOV 30, 2008

#     Proposal                                Mgt Rec   Vote Cast    Sponsor
1.1   Elect Director Mario L. Baeza           For       For          Management
1.2   Elect Director Edward E. Hagenlocker    For       For          Management
1.3   Elect Director John E. McGlade          For       For          Management
1.4   Elect Director Charles H. Noski         For       For          Management
2     Ratify Auditors                         For       For          Management


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ALLEGHENY TECHNOLOGIES INCORPORATED

Ticker:       ATI            Security ID:  01741R102
Meeting Date: MAY 7, 2009    Meeting Type: Annual
Record Date:  MAR 11, 2009

#     Proposal                                Mgt Rec   Vote Cast    Sponsor
1.1   Elect Director Diane C. Creel           For       For          Management
1.2   Elect Director James E. Rohr            For       For          Management
1.3   Elect Director Louis J. Thomas          For       For          Management
1.4   Elect Director Barbara S. Jeremiah      For       For          Management
2     Ratify Auditors                         For       For          Management


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CARPENTER TECHNOLOGY CORP.

Ticker:       CRS            Security ID:  144285103
Meeting Date: OCT 13, 2008   Meeting Type: Annual
Record Date:  AUG 15, 2008

#     Proposal                                Mgt Rec   Vote Cast    Sponsor
1.1   Elect Director Robert R. McMaster       For       For          Management
1.2   Elect Director Gregory A. Pratt         For       For          Management
1.3   Elect Director Anne L. Stevens          For       For          Management
2     Ratify Auditors                         For       For          Management


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CATERPILLAR INC.

Ticker:       CAT            Security ID:  149123101
Meeting Date: JUN 10, 2009   Meeting Type: Annual
Record Date:  APR 13, 2009

#     Proposal                                Mgt Rec   Vote Cast    Sponsor
1.1   Elect Director Daniel M. Dickinson      For       For          Management
1.2   Elect Director David R. Goode           For       For          Management
1.3   Elect Director James W. Owens           For       For          Management
1.4   Elect Director Charles D. Powell        For       For          Management
1.5   Elect Director Joshua I. Smith          For       For          Management
2     Ratify Auditors                         For       For          Management
3     Declassify the Board of Directors       Against   For          Shareholder
4     Require a Majority Vote for the         Against   For          Shareholder
      Election of Directors
5     Report on Foreign Military Sales        Against   Against      Shareholder
6     Adopt Simple Majority Vote Standard     Against   For          Shareholder
7     Limitation on Compensation Consultant   Against   For          Shareholder
      Services
8     Require Independent Board Chairman      Against   Against      Shareholder
9     Report on Lobbying Priorities           Against   Against      Shareholder


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CELANESE CORP.

Ticker:       CE             Security ID:  150870103
Meeting Date: APR 23, 2009   Meeting Type: Annual
Record Date:  MAR 2, 2009

#     Proposal                                Mgt Rec   Vote Cast    Sponsor
1.1   Elect Director James E. Barlett         For       For          Management
1.2   Elect Director David F. Hoffmeister     For       For          Management
1.3   Elect Director Paul H. O'Neill          For       For          Management
2     Ratify Auditors                         For       For          Management
3     Approve Omnibus Stock Plan              For       For          Management
4     Approve Qualified Employee Stock        For       For          Management
      Purchase Plan


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CLIFFS NATURAL RESOURCES INC

Ticker:       CLF            Security ID:  18683K101
Meeting Date: MAY 12, 2009   Meeting Type: Annual
Record Date:  MAR 16, 2009

#     Proposal                                Mgt Rec   Vote Cast    Sponsor
1.1   Elect Director R.C. Cambre              For       Withhold     Management
1.2   Elect Director J.A. Carrabba            For       Withhold     Management
1.3   Elect Director S.M. Cunningham          For       Withhold     Management
1.4   Elect Director B.J. Eldridge            For       Withhold     Management
1.5   Elect Director S.M. Green               For       Withhold     Management
1.6   Elect Director J.D. Ireland III         For       Withhold     Management
1.7   Elect Director F.R. McAllister          For       Withhold     Management
1.8   Elect Director R. Phillips              For       Withhold     Management
1.9   Elect Director R.K. Riederer            For       Withhold     Management
1.10  Elect Director A. Schwartz              For       Withhold     Management
2     Ratify Auditors                         For       For          Management


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DEERE & CO.

Ticker:       DE             Security ID:  244199105
Meeting Date: FEB 25, 2009   Meeting Type: Annual
Record Date:  DEC 31, 2008

#     Proposal                                Mgt Rec   Vote Cast    Sponsor
1.1   Elect Director Crandall C. Bowles       For       For          Management
1.2   Elect Director Vance D. Coffman         For       For          Management
1.3   Elect Director Clayton M. Jones         For       For          Management
1.4   Elect Director Thomas H. Patrick        For       For          Management
2     Ratify Auditors                         For       For          Management
3     Declassify the Board of Directors       For       For          Shareholder
4     Advisory Vote to Ratify Named Executive Against   For          Shareholder
      Officers' Compensation
5     Require Independent Board Chairman      Against   Against      Shareholder


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DOW CHEMICAL COMPANY, THE

Ticker:       DOW            Security ID:  260543103
Meeting Date: MAY 14, 2009   Meeting Type: Annual
Record Date:  MAR 16, 2009

#     Proposal                                Mgt Rec   Vote Cast    Sponsor
1     Elect Director Arnold A. Allemang       For       For          Management
2     Elect Director Jacqueline K. Barton     For       For          Management
3     Elect Director James A. Bell            For       For          Management
4     Elect Director Jeff M. Fettig           For       For          Management
5     Elect Director Barbara H. Franklin      For       For          Management
6     Elect Director John B. Hess             For       For          Management
7     Elect Director Andrew N. Liveris        For       For          Management
8     Elect Director Geoffery E. Merszei      For       For          Management
9     Elect Director Dennis H. Reilley        For       For          Management
10    Elect Director James M. Ringler         For       For          Management
11    Elect Director Ruth G. Shaw             For       For          Management
12    Elect Director Paul G. Stern            For       For          Management
13    Ratify Auditors                         For       For          Management
14    Restore or Provide for Cumulative       Against   Against      Shareholder
      Voting
15    Amend Articles/Bylaws/Charter -- Call   Against   For          Shareholder
      Special Meetings
16    Stock Retention/Holding Period          Against   For          Shareholder
17    Advisory Vote to Ratify Named Executive Against   For          Shareholder
      Officers' Compensation
18    Report on Environmental Remediation in  Against   Against      Shareholder
      Midland Area


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E.I. DU PONT DE NEMOURS & CO.

Ticker:       DD             Security ID:  263534109
Meeting Date: APR 29, 2009   Meeting Type: Annual
Record Date:  MAR 4, 2009

#     Proposal                                Mgt Rec   Vote Cast    Sponsor
1     Elect Director Samuel W. Bodman         For       For          Management
2     Elect Director Richard H. Brown         For       For          Management
3     Elect Director Robert A. Brown          For       For          Management
4     Elect Director Bertrand P. Collomb      For       For          Management
5     Elect Director Curtis J. Crawford       For       For          Management
6     Elect Director Alexander M. Cutler      For       For          Management
7     Elect Director John T. Dillon           For       For          Management
8     Elect Director Eleuthere I. Du Pont     For       For          Management
9     Elect Director Marillyn Hewson          For       For          Management
10    Elect Director Charles O. Holliday, Jr. For       For          Management
11    Elect Director Lois D. Juliber          For       For          Management
12    Elect Director Ellen J. Kullman         For       For          Management
13    Elect Director William K. Reily         For       For          Management
14    Ratify Auditors                         For       For          Management
15    Advisory Vote to Ratify Named Executive Against   For          Shareholder
      Officers' Compensation


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GUARANTY FINANCIAL GROUP INC.

Ticker:       GFG            Security ID:  40108N106
Meeting Date: SEP 29, 2008   Meeting Type: Special
Record Date:  AUG 29, 2008

#     Proposal                                Mgt Rec   Vote Cast    Sponsor
1     Approve Conversion of Securities        For       For          Management


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INTERNATIONAL PAPER CO.

Ticker:       IP             Security ID:  460146103
Meeting Date: MAY 11, 2009   Meeting Type: Annual
Record Date:  MAR 16, 2009

#     Proposal                                Mgt Rec   Vote Cast    Sponsor
1.1   Elect Directors John V. Faraci          For       For          Management
1.2   Elect Directors Stacey J. Mobley        For       For          Management
1.3   Elect Directors William G. Walter       For       For          Management
1.4   Elect Directors J. Steven Whisler       For       For          Management
2     Ratify Auditors                         For       For          Management
3     Permit Right to Call Special Meeting    For       For          Management
4     Approve Omnibus Stock Plan              For       For          Management
5     Report on Sustainable Forestry          Against   Against      Shareholder


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MEADWESTVACO CORP.

Ticker:       MWV            Security ID:  583334107
Meeting Date: APR 27, 2009   Meeting Type: Annual
Record Date:  FEB 27, 2009

#     Proposal                                Mgt Rec   Vote Cast    Sponsor
1.1   Elect Director Michael E. Campbell      For       For          Management
1.2   Elect Director Thomas W. Cole, Jr.      For       For          Management
1.3   Elect Director James G. Kaiser          For       For          Management
1.4   Elect Director Richard B. Kelson        For       For          Management
1.5   Elect Director James M. Kilts           For       For          Management
1.6   Elect Director Susan J. Kropf           For       For          Management
1.7   Elect Director Douglas S. Luke          For       For          Management
1.8   Elect Director John A. Luke, Jr.        For       For          Management
1.9   Elect Director Robert C. McCormack      For       For          Management
1.10  Elect Director Timothy H. Powers        For       For          Management
1.11  Elect Director Edward M. Straw          For       For          Management
1.12  Elect Director Jane L. Warner           For       For          Management
2     Ratify Auditors                         For       For          Management
3     Amend Omnibus Stock Plan                For       For          Management
4     Amend Articles/Bylaws/Charter -- Call   Against   For          Shareholder
      Special Meetings


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MOSAIC CO

Ticker:       MOS            Security ID:  61945A107
Meeting Date: OCT 9, 2008    Meeting Type: Annual
Record Date:  AUG 11, 2008

#     Proposal                                Mgt Rec   Vote Cast    Sponsor
1.1   Elect Director David B. Mathis          For       For          Management
1.2   Elect Director James L. Popowich        For       For          Management
1.3   Elect Director James T. Prokopanko      For       For          Management
1.4   Elect Director Steven M. Seibert        For       For          Management
2     Ratify Auditors                         For       For          Management


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OLIN CORP.

Ticker:       OLN            Security ID:  680665205
Meeting Date: APR 23, 2009   Meeting Type: Annual
Record Date:  FEB 27, 2009

#     Proposal                                Mgt Rec   Vote Cast    Sponsor
1.1   Elect Director Gray G. Benoist          For       For          Management
1.2   Elect Director Donald W. Bogus          For       For          Management
1.3   Elect Director John M. B. O'Connor      For       For          Management
1.4   Elect Director Philip J. Schulz         For       For          Management
1.5   Elect Director Vincent J. Smith         For       For          Management
2     Approve Omnibus Stock Plan              For       For          Management
3     Ratify Auditors                         For       For          Management


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POTASH CORPORATION OF SASKATCHEWAN INC.

Ticker:       POT            Security ID:  73755L107
Meeting Date: MAY 7, 2009    Meeting Type: Annual/Special
Record Date:  MAR 12, 2009

#     Proposal                                Mgt Rec   Vote Cast    Sponsor
1.1   Elect Director C. M. Burley             For       For          Management
1.2   Elect Director W. J. Doyle              For       For          Management
1.3   Elect Director J. W. Estey              For       For          Management
1.4   Elect Director C. S. Hoffman            For       For          Management
1.5   Elect Director D. J. Howe               For       For          Management
1.6   Elect Director A. D. Laberge            For       For          Management
1.7   Elect Director K. G. Martell            For       For          Management
1.8   Elect Director J. J. McCaig             For       For          Management
1.9   Elect Director M. Mogford               For       For          Management
1.10  Elect Director P. J. Schoenhals         For       For          Management
1.11  Elect Director E. R. Stromberg          For       For          Management
1.12  Elect Director E. Viyella de Paliza     For       For          Management
2     Approve Deloitte & Touche LLP as        For       For          Management
      Auditors and Authorize Board to Fix
      Their Remuneration
3     Approve 2009 Performance Option Plan    For       For          Management
4     Advisory Vote to Ratify Named Executive Against   For          Shareholder
      Officers' Compensation


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PRAXAIR, INC.

Ticker:       PX             Security ID:  74005P104
Meeting Date: APR 28, 2009   Meeting Type: Annual
Record Date:  MAR 2, 2009

#     Proposal                                Mgt Rec   Vote Cast    Sponsor
1.1   Elect Director Stephen F. Angel         For       For          Management
1.2   Elect Director Nance K. Dicciani        For       For          Management
1.3   Elect Director Edward G. Galante        For       For          Management
1.4   Elect Director Claire W. Gargalli       For       For          Management
1.5   Elect Director Ira D. Hall              For       For          Management
1.6   Elect Director Raymond W. LeBoeuf       For       For          Management
1.7   Elect Director Larry D. McVay           For       For          Management
1.8   Elect Director Wayne T. Smith           For       For          Management
1.9   Elect Director H. Mitchell Watson, Jr.  For       For          Management
1.10  Elect Director Robert L. Wood           For       For          Management
2     Approve Omnibus Stock Plan              For       For          Management
3     Ratify Auditors                         For       For          Management


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ROHM AND HAAS CO.

Ticker:       ROH            Security ID:  775371107
Meeting Date: OCT 29, 2008   Meeting Type: Special
Record Date:  SEP 25, 2008

#     Proposal                                Mgt Rec   Vote Cast    Sponsor
1     Approve Merger Agreement                For       For          Management
2     Adjourn Meeting                         For       For          Management


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TEMPLE-INLAND INC.

Ticker:       TIN            Security ID:  879868107
Meeting Date: MAY 1, 2009    Meeting Type: Annual
Record Date:  MAR 6, 2009

#     Proposal                                Mgt Rec   Vote Cast    Sponsor
1     Elect Director Cassandra C. Carr        For       For          Management
2     Elect Director Richard M. Smith         For       For          Management
3     Elect Director Arthur Temple III        For       For          Management
4     Elect Director R.A. Walker              For       For          Management
5     Ratify Auditors                         For       For          Management


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UNITED STATES STEEL CORP.

Ticker:       X              Security ID:  912909108
Meeting Date: APR 28, 2009   Meeting Type: Annual
Record Date:  FEB 27, 2009

#     Proposal                                Mgt Rec   Vote Cast    Sponsor
1.1   Elect Director Frank J. Lucchino        For       For          Management
1.2   Elect Director Seth E. Schofield        For       For          Management
1.3   Elect Director John P. Surma            For       For          Management
1.4   Elect Director David S. Sutherland      For       For          Management
2     Ratify Auditors                         For       For          Management


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WEYERHAEUSER CO.

Ticker:       WY             Security ID:  962166104
Meeting Date: APR 16, 2009   Meeting Type: Annual
Record Date:  FEB 20, 2009

#     Proposal                                Mgt Rec   Vote Cast    Sponsor
1.1   Elect Director Debra A. Cafaro          For       For          Management
1.2   Elect Director Nicole W. Piasecki       For       For          Management
1.3   Elect Director Mark A. Emmert           For       For          Management
1.4   Elect Director Daniel S. Fulton         For       For          Management
1.5   Elect Director Wayne W. Murdy           For       For          Management
2     Require Independent Board Chairman      Against   Against      Shareholder
3     Reduce Supermajority Vote Requirement   Against   For          Shareholder
4     Ratify Auditors                         For       For          Management

========== END NPX REPORT