Dynamic Funds and BlackRock® Canada Announce Unitholder Votes in Favour of Change of Investment Management Responsibilities of Nine Dynamic Active ETFs
November 17 2021 - 5:37PM
BlackRock Asset Management Canada Limited (“BlackRock Canada”), an
indirect, wholly owned subsidiary of BlackRock, Inc. (“BlackRock”)
(NYSE:BLK) and the current trustee, manager and portfolio manager
of the nine Dynamic Active exchange traded funds listed below
(collectively, the “Dynamic Active ETFs”), is pleased to announce
that at special meetings held today, unitholders approved the
proposed change in trustee and manager of the Dynamic Active ETFs
from BlackRock Canada to Dynamic Funds (a division of 1832 Asset
Management L.P) (the “Proposals”). Dynamic Funds’ intention to
assume management of the ETFs pending regulatory, stock exchange
and unitholder approvals was previously announced on September 8,
2021.
- Dynamic Active Canadian Dividend ETF (ticker: DXC)
- Dynamic Active Crossover Bond ETF (ticker: DXO)
- Dynamic Active Global Dividend ETF (ticker: DXG)
- Dynamic Active Global Financial Services ETF (ticker: DXF)
- Dynamic Active Investment Grade Floating Rate ETF (ticker:
DXV)
- Dynamic Active Preferred Shares ETF (ticker: DXP)
- Dynamic Active Tactical Bond ETF (ticker: DXB)
- Dynamic Active U.S. Dividend ETF (ticker: DXU)
- Dynamic Active U.S. Mid-Cap ETF (ticker: DXZ)
Implementation of the Proposals is subject to
applicable regulatory, stock exchange and other approvals,
including the approval of the Ontario Securities Commission and the
Toronto Stock Exchange, and satisfaction of the closing conditions
set out in the purchase and sale agreement entered into by
BlackRock Canada and Dynamic Funds with respect to the Proposals.
BlackRock Canada expects that the Proposals will be implemented on
or about December 3, 2021 (the “Closing Date”), subject to
satisfying all conditions and obtaining the remaining required
approvals.
Effective as of the Closing Date, the
distribution reinvestment plan (“DRIP”) currently offered by
BlackRock Canada as trustee and manager for the Dynamic Active ETFs
will be suspended and will be subsequently replaced with a DRIP
offered by Dynamic Funds. DRIP plan participants will not be
required to take any action with respect to this change and will
automatically continue to be enrolled in the Dynamic Funds DRIP
upon its implementation.
Dynamic Funds will prepare updated disclosure
documents and an amended and restated declaration of trust for the
Dynamic Active ETFs reflecting the implementation of the Proposals,
which are expected to be filed on or about the Closing Date, and
which will be subsequently available on www.sedar.com.
For more information about the Dynamic Active
ETFs, please visit www.dynamic.ca/etf or www.blackrock.com/ca.
About Dynamic Funds Dynamic
Funds is a division of 1832 Asset Management L.P., which offers a
range of wealth management solutions, including mutual funds,
actively managed ETFs, investment solutions for private clients,
institutions and managed asset programs. 1832 Asset Management L.P.
is a limited partnership, the general partner of which is wholly
owned by Scotiabank. ® Dynamic Funds is a registered trademark of
its owner, used under license.Website:
www.dynamic.ca |Twitter:@DynamicFunds |
LinkedIn:
https://www.linkedin.com/company/dynamic-funds/
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, we help
millions of people build savings that serve them throughout their
lives by making investing easier and more affordable. For
additional information on BlackRock, please
visit www.blackrock.com/corporate
Dynamic Active ETFs are managed by BlackRock
Asset Management Canada Limited.
Commissions, trailing commissions, management
fees and expenses all may be associated with investing in Dynamic
Active 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.
©2021 BlackRock Asset Management Canada Limited.
All rights reserved. BLACKROCK is a registered
trademark of BlackRock, Inc., or its subsidiaries in the United
States and elsewhere. Used with permission.
For media enquiries only:
Alexandra MathiasGlobal Wealth Management Communications,
Scotiabank416-448-7044alexandra.mathias@scotiabank.com
Amanda FriedmanBlackRock
Communications646-823-2328amanda.friedman@blackrock.com
BlackRock (NYSE:BLK)
Historical Stock Chart
From Jun 2024 to Jul 2024
BlackRock (NYSE:BLK)
Historical Stock Chart
From Jul 2023 to Jul 2024