BlackRock® Canada Announces Risk Ratings Updates, Name Changes and Management Fee Reduction for Certain iShares Exchange-Tra...
June 26 2020 - 08:12AM
BlackRock Asset Management Canada Limited (“
BlackRock
Canada”), an indirect, wholly-owned subsidiary of
BlackRock, Inc. (“
BlackRock”) (NYSE:BLK) today
announced an update to the investment risk ratings of certain
iShares exchange-traded funds (“
iShares ETFs”),
changes to the names of certain iShares ETFs, and a reduction of
the annual management fee for iShares Global Government Bond Index
ETF (CAD-Hedged)(“
XGGB”). These changes are
reflected in the prospectus for the iShares ETFs that was filed on
or about June 26, 2020 (the “Prospectus”). Capitalized terms not
otherwise defined in this press release have the meaning ascribed
to them in the Prospectus.
Risk Rating Update
BlackRock Canada has updated the investment risk
ratings of the iShares ETFs, or class of the iShares ETF, as
applicable, listed below, effective on or about June 26, 2020:
iShares ETF Name |
Previous Risk Rating |
Updated Risk Rating |
iShares S&P/TSX Composite High Dividend Index ETF |
Low to Medium |
Medium |
iShares Core MSCI Global Quality Dividend Index ETF1 |
Medium |
Low to Medium |
iShares Core MSCI US Quality Dividend Index ETF2 |
Medium |
Low to Medium |
iShares S&P U.S. Mid-Cap Index ETF3 |
Medium |
Medium to High |
iShares S&P/TSX Canadian Dividend Aristocrats Index ETF |
Low to Medium |
Medium |
iShares S&P U.S. Mid-Cap Index ETF (CAD-Hedged) |
Medium |
Medium to High |
iShares S&P/TSX SmallCap Index ETF |
Medium |
Medium to High |
____________________
1 The investment risk rating change only applies
to the CAD Units and not the USD Units of the fund.2 The investment
risk rating change only applies to the CAD Units and not the USD
Units of the fund.3 The investment risk rating change only applies
to the USD Units and not the CAD Units of the fund.
A copy of the standardized risk classification
methodology used by BlackRock Canada to identify the investment
risk levels of the iShares ETFs is available on request, at no
cost, by calling us at 1-855-255-5951 or by writing to BlackRock
Canada at 161 Bay Street, Suite 2500, Toronto, Ontario M5J 2S1.
Name Changes
Additionally, effective June 26, 2020, the
iShares ETFs listed below have changed their names as follows:
Former iShares ETF Name |
New iShares ETF Name |
iShares Edge MSCI Min Vol Canada Index ETF |
iShares MSCI Min Vol Canada Index ETF |
iShares Edge MSCI Min Vol EAFE Index ETF |
iShares MSCI Min Vol EAFE Index ETF |
iShares Edge MSCI Min Vol EAFE Index ETF (CAD-Hedged) |
iShares MSCI Min Vol EAFE Index ETF (CAD-Hedged) |
iShares Edge MSCI Min Vol Emerging Markets Index ETF |
iShares MSCI Min Vol Emerging Markets Index ETF |
iShares Edge MSCI Min Vol Global Index ETF |
iShares MSCI Min Vol Global Index ETF |
iShares Edge MSCI Min Vol Global Index ETF (CAD-Hedged) |
iShares MSCI Min Vol Global Index ETF (CAD-Hedged) |
iShares Edge MSCI Min Vol USA Index ETF |
iShares MSCI Min Vol USA Index ETF |
iShares Edge MSCI Min Vol USA Index ETF (CAD-Hedged) |
iShares MSCI Min Vol USA Index ETF (CAD-Hedged) |
iShares Edge MSCI Multifactor Canada Index ETF |
iShares MSCI Multifactor Canada Index ETF |
iShares Edge MSCI Multifactor EAFE Index ETF |
iShares MSCI Multifactor EAFE Index ETF |
iShares Edge MSCI Multifactor EAFE Index ETF (CAD-Hedged) |
iShares MSCI Multifactor EAFE Index ETF (CAD-Hedged) |
iShares Edge MSCI Multifactor USA Index ETF |
iShares MSCI Multifactor USA Index ETF |
iShares Edge MSCI Multifactor USA Index ETF (CAD-Hedged) |
iShares MSCI Multifactor USA Index ETF (CAD-Hedged) |
iShares Edge MSCI USA Momentum Factor Index ETF |
iShares MSCI USA Momentum Factor Index ETF |
iShares Edge MSCI USA Quality Factor Index ETF |
iShares MSCI USA Quality Factor Index ETF |
iShares Edge MSCI USA Value Factor Index ETF |
iShares MSCI USA Value Factor Index ETF |
iShares Core Canadian Short Term Corporate + Maple Bond Index
ETF |
iShares Core Canadian Short Term Corporate Bond Index ETF |
Management Fee Reduction
BlackRock Canada has implemented a reduction in
the annual management fee of XGGB from 0.35% to 0.20% of NAV. This
management fee reduction is effective as of June 26, 2020.
iShares Premium Money Market
ETF
As a result of the current low interest rate
environment, in the Prospectus BlackRock Canada has added
disclosure clarifying its ability to voluntarily, in its sole
discretion, temporarily waive a portion of the management fee of
iShares Premium Money Market ETF (“CMR”), which if
implemented, may result in a reduction in CMR’s management expense
ratio. BlackRock Canada is not obligated to waive any portion of
its management fee but may decide to do so in certain
circumstances. BlackRock Canada may choose not to waive or may
cease to waive fees at any time without notice. In addition,
CMR generally will not pay a cash distribution in any month where
it has no net income to distribute.
About BlackRock
BlackRock’s purpose is to help more and more
people experience financial well-being. As a fiduciary to
investors and a leading provider of financial technology, our
clients turn to us for the solutions they need when planning for
their most important goals. As of March 31, 2020, the firm
managed approximately US$6.47 trillion in assets on behalf of
investors worldwide. For additional information on BlackRock,
please visit www.blackrock.com/corporate |
Twitter: @BlackRockCA |
Blog: www.blackrockblog.com/can/ |
LinkedIn: www.linkedin.com/company/blackrock.
About iShares
iShares unlocks opportunity across markets to
meet the evolving needs of investors. With more than twenty years
of experience, a global line-up of 900+ exchange traded funds
(ETFs) and US$1.85 trillion in assets under management as of March
31, 2020, iShares continues to drive progress for the financial
industry. iShares funds are powered by the expert portfolio and
risk management of BlackRock, trusted to manage more money than any
other investment firm1.
1 Based on US$6.47 trillion in AUM as of
3/31/20
iShares ETFs are managed by BlackRock Asset
Management Canada Limited.
Commissions, trailing commissions, management
fees and expenses all may be associated with investing in iShares
ETFs. Please read the relevant prospectus before investing. The
funds are not guaranteed, their values change frequently and past
performance may not be repeated. Tax, investment and all other
decisions should be made, as appropriate, only with guidance from a
qualified professional.
The ETF is not in any way sponsored, endorsed,
sold or promoted by the London Stock Exchange Group plc and its
group undertakings (collectively, the “LSE Group”). The LSE Group
does not accept any liability whatsoever to any person arising out
of the use of the ETF or the underlying data.
“FTSE®” and “FTSE Russell®” are trademarks of
the relevant LSE Group company and are used by any other LSE Group
company under license.
MSCI is a trademark of MSCI, Inc. (“MSCI”). The
ETF is permitted to use the MSCI mark pursuant to a license
agreement between MSCI and BlackRock Institutional Trust Company,
N.A., relating to, among other things, the license granted to
BlackRock Institutional Trust Company, N.A. to use the Index.
BlackRock Institutional Trust Company, N.A. has sublicensed the use
of this trademark to BlackRock. The ETF is not sponsored, endorsed,
sold or promoted by MSCI and MSCI makes no representation,
condition or warranty regarding the advisability of investing in
the ETF.
©2020 BlackRock Asset Management Canada Limited.
All rights reserved. iSHARES and
BLACKROCK are registered trademarks of BlackRock,
Inc., or its subsidiaries in the United States and elsewhere. Used
with permission.
Contact for Media:Maeve HanniganT –
416-643-4058Email: Maeve.Hannigan@blackrock.com
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