PAGE 1 000 A000000 04/30/2010 000 C000000 1368893 000 D000000 N 000 E000000 NF 000 F000000 Y 000 G000000 N 000 H000000 N 000 I000000 6.1 000 J000000 A 001 A000000 BLACKROCK REAL ASSET EQUITY TRUST 001 B000000 811-21931 001 C000000 8888252257 002 A000000 100 BELLEVUE PARKWAY 002 B000000 WILMINGTON 002 C000000 DE 002 D010000 19809 003 000000 N 004 000000 N 005 000000 N 006 000000 N 007 A000000 N 007 B000000 0 007 C010100 1 008 A000001 BLACKROCK ADVISORS, LLC 008 B000001 A 008 C000001 801-47710 008 D010001 WILMINGTON 008 D020001 DE 008 D030001 19809 008 A000002 BLACKROCK INVESTMENT MANAGEMENT, LLC 008 B000002 S 008 C000002 801-56972 008 D010002 PRINCETON 008 D020002 NJ 008 D030002 08356 008 A000003 BLACKROCK INTERNATIONAL LTD. 008 B000003 S 008 C000003 801-51087 008 D010003 EDINBURGH 008 D050003 SCOTLAND 008 D060003 EH38JB 012 A000001 BNY MELLON SHAREOWNER SERVICES 012 B000001 85-0000000 012 C010001 JERSEY CITY 012 C020001 NJ 012 C030001 07310 013 A000001 DELOITTE & TOUCHE LLP 013 B010001 NEW YORK 013 B020001 NY 013 B030001 10281 014 A000001 BLACKROCK INVESTMENTS, INC. PAGE 2 014 B000001 8-048436 014 A000002 PNC CAPITAL MARKETS, INC. 014 B000002 8-032493 014 A000003 PFPC DISTRIBUTORS, INC. 014 B000003 8-045467 014 A000004 MGI FUNDS DISTRIBUTOR, INC. 014 B000004 8-046960 014 A000005 BB&T AM Distributors, Inc. 014 B000005 8-052396 014 A000006 Fairholme Distributors, Inc. 014 B000006 8-00000 014 A000007 PNC INVESTMENTS LLC 014 B000007 8-066195 014 A000008 Highmark Funds Distributors, Inc. 014 B000008 8-00000 014 A000009 Harris Williams LLC 014 B000009 8-53380 014 A000010 BLACKROCK CAPITAL MARKETS, LLC 014 B000010 8-67827 014 A000011 Red Capital Markets, Inc. 014 B000011 8-31175 014 A000012 BLACKROCK EXECUTION SERVICES 014 B000012 8-48719 014 A000013 BLACKROCK FUND DISTRIBUTION CO. 014 B000013 8-67795 015 A000001 THE BANK OF NEW YORK MELLON 015 B000001 C 015 C010001 NEW YORK 015 C020001 NY 015 C030001 10286 015 E010001 X 018 000000 Y 019 A000000 Y 019 B000000 279 019 C000000 BLKRKADVSR 020 A000001 CREDIT SUISSE FIRST BOSTON 020 B000001 13-5659485 020 C000001 112 020 A000002 UBS SECURITIES 020 B000002 13-2932996 020 C000002 105 020 A000003 MORGAN STANLEY 020 B000003 13-2655998 020 C000003 60 020 A000004 CITIGROUP 020 B000004 11-2418191 020 C000004 49 020 A000005 MERRILL LYNCH 020 B000005 13-5674085 020 C000005 45 020 A000006 DEUTSCHE BANK PAGE 3 020 B000006 13-2730828 020 C000006 23 020 A000007 JEFFERIES & COMPANY 020 B000007 95-2622900 020 C000007 21 020 A000008 TD SECURITIES 020 C000008 19 020 A000009 GOLDMAN SACHS & CO. 020 B000009 13-5108880 020 C000009 18 020 A000010 RBC CAPITAL MARKETS 020 C000010 15 021 000000 543 022 A000001 BANK OF NEW YORK MELLON 022 B000001 13-5160382 022 C000001 270611 022 D000001 279339 022 A000002 CREDIT SUISSE FIRST BOSTON 022 B000002 13-5659485 022 C000002 4555 022 D000002 32589 022 A000003 MORGAN STANLEY 022 B000003 13-2655998 022 C000003 4535 022 D000003 28205 022 A000004 UBS SECURITIES 022 B000004 13-2932996 022 C000004 4320 022 D000004 19396 022 A000005 CITIGROUP 022 B000005 11-2418191 022 C000005 4712 022 D000005 12099 022 A000006 GOLDMAN SACHS & CO. 022 B000006 13-5108880 022 C000006 3063 022 D000006 12559 022 A000007 DEUTSCHE BANK SECURITIES, INC. 022 B000007 13-2473088 022 C000007 743 022 D000007 11142 022 A000008 JP MORGAN CHASE BANK 022 B000008 13-2624428 022 C000008 956 022 D000008 2596 022 A000009 BNP PARIBAS 022 C000009 919 022 D000009 2136 022 A000010 MERRILL LYNCH 022 B000010 13-5674085 022 C000010 0 PAGE 4 022 D000010 1 023 C000000 294734 023 D000000 400062 024 000000 N 026 A000000 N 026 B000000 N 026 C000000 N 026 D000000 Y 026 E000000 N 026 F000000 N 026 G010000 N 026 G020000 N 026 H000000 N 027 000000 N 028 A010000 0 028 A020000 0 028 A030000 0 028 A040000 0 028 B010000 0 028 B020000 0 028 B030000 0 028 B040000 0 028 C010000 0 028 C020000 0 028 C030000 0 028 C040000 0 028 D010000 0 028 D020000 0 028 D030000 0 028 D040000 0 028 E010000 0 028 E020000 0 028 E030000 0 028 E040000 0 028 F010000 0 028 F020000 0 028 F030000 0 028 F040000 0 028 G010000 0 028 G020000 0 028 G030000 0 028 G040000 0 028 H000000 0 030 A000000 0 030 B000000 0.00 030 C000000 0.00 031 A000000 0 031 B000000 0 032 000000 0 033 000000 0 035 000000 0 PAGE 5 036 B000000 0 038 000000 0 042 A000000 0 042 B000000 0 042 C000000 0 042 D000000 0 042 E000000 0 042 F000000 0 042 G000000 0 042 H000000 0 043 000000 0 044 000000 0 045 000000 Y 046 000000 N 047 000000 Y 048 000000 1.200 048 A010000 0 048 A020000 0.000 048 B010000 0 048 B020000 0.000 048 C010000 0 048 C020000 0.000 048 D010000 0 048 D020000 0.000 048 E010000 0 048 E020000 0.000 048 F010000 0 048 F020000 0.000 048 G010000 0 048 G020000 0.000 048 H010000 0 048 H020000 0.000 048 I010000 0 048 I020000 0.000 048 J010000 0 048 J020000 0.000 048 K010000 0 048 K020000 0.000 049 000000 N 050 000000 N 051 000000 N 052 000000 N 053 A000000 Y 053 B000000 Y 053 C000000 N 054 A000000 Y 054 B000000 Y 054 C000000 N 054 D000000 N 054 E000000 N 054 F000000 N PAGE 6 054 G000000 Y 054 H000000 Y 054 I000000 N 054 J000000 Y 054 K000000 N 054 L000000 N 054 M000000 Y 054 N000000 N 054 O000000 N 055 A000000 N 055 B000000 N 056 000000 Y 057 000000 N 058 A000000 N 059 000000 Y 060 A000000 N 060 B000000 N 061 000000 0 062 A000000 N 062 B000000 0.0 062 C000000 0.0 062 D000000 0.0 062 E000000 0.0 062 F000000 0.0 062 G000000 0.0 062 H000000 0.0 062 I000000 0.0 062 J000000 0.0 062 K000000 0.0 062 L000000 0.0 062 M000000 0.0 062 N000000 0.0 062 O000000 0.0 062 P000000 0.0 062 Q000000 0.0 062 R000000 0.0 063 A000000 0 063 B000000 0.0 066 A000000 Y 066 B000000 N 066 C000000 N 066 D000000 N 066 E000000 Y 066 F000000 N 066 G000000 N 067 000000 N 068 A000000 N 068 B000000 N 069 000000 N 070 A010000 Y 070 A020000 N PAGE 7 070 B010000 Y 070 B020000 Y 070 C010000 Y 070 C020000 N 070 D010000 Y 070 D020000 N 070 E010000 Y 070 E020000 N 070 F010000 Y 070 F020000 N 070 G010000 Y 070 G020000 N 070 H010000 Y 070 H020000 N 070 I010000 N 070 I020000 N 070 J010000 Y 070 J020000 N 070 K010000 Y 070 K020000 Y 070 L010000 Y 070 L020000 Y 070 M010000 Y 070 M020000 N 070 N010000 Y 070 N020000 N 070 O010000 Y 070 O020000 N 070 P010000 Y 070 P020000 Y 070 Q010000 N 070 Q020000 N 070 R010000 N 070 R020000 N 071 A000000 322836 071 B000000 315663 071 C000000 688402 071 D000000 46 072 A000000 6 072 B000000 19 072 C000000 4517 072 D000000 0 072 E000000 0 072 F000000 4342 072 G000000 0 072 H000000 0 072 I000000 6 072 J000000 86 072 K000000 0 072 L000000 78 072 M000000 59 PAGE 8 072 N000000 14 072 O000000 0 072 P000000 0 072 Q000000 0 072 R000000 23 072 S000000 16 072 T000000 0 072 U000000 0 072 V000000 0 072 W000000 42 072 X000000 4666 072 Y000000 734 072 Z000000 604 072AA000000 15149 072BB000000 0 072CC010000 94148 072CC020000 0 072DD010000 30826 072DD020000 0 072EE000000 0 073 A010000 0.5436 073 A020000 0.0000 073 B000000 0.0000 073 C000000 0.0000 074 A000000 9059 074 B000000 0 074 C000000 0 074 D000000 0 074 E000000 0 074 F000000 725010 074 G000000 0 074 H000000 0 074 I000000 28784 074 J000000 10516 074 K000000 0 074 L000000 946 074 M000000 3250 074 N000000 777565 074 O000000 21327 074 P000000 759 074 Q000000 0 074 R010000 0 074 R020000 0 074 R030000 8896 074 R040000 2580 074 S000000 0 074 T000000 744003 074 U010000 56708 074 U020000 0 074 V010000 13.12 074 V020000 0.00 PAGE 9 074 W000000 0.0000 074 X000000 25 074 Y000000 8809 075 A000000 0 075 B000000 729661 076 000000 13.04 077 A000000 Y 077 B000000 Y 077 C000000 N 077 D000000 N 077 E000000 N 077 F000000 N 077 G000000 N 077 H000000 N 077 I000000 N 077 J000000 N 077 K000000 N 077 L000000 N 077 M000000 N 077 N000000 N 077 O000000 N 077 P000000 N 077 Q010000 N 077 Q020000 N 077 Q030000 N 078 000000 N 080 C000000 0 081 B000000 0 082 B000000 0 083 B000000 0 084 B000000 0 086 A010000 0 086 A020000 0 086 B010000 0 086 B020000 0 086 C010000 0 086 C020000 0 086 D010000 0 086 D020000 0 086 E010000 0 086 E020000 0 086 F010000 0 086 F020000 0 087 A010000 COMMON 087 A020000 09254B109 087 A030000 BCF 088 A000000 N 088 B000000 N 088 C000000 N 088 D000000 N SIGNATURE ANNE F. ACKERLEY TITLE PRESIDENT