BlackRock Canada Announces Certain Changes to XHY
02 Oktober 2013 - 11:05PM
Marketwired
BlackRock Asset Management Canada Limited ("BlackRock Canada"), an
indirect, wholly owned subsidiary of BlackRock, Inc. (NYSE:BLK),
has completed the implementation of the new investment strategy of
the iShares U.S. High Yield Bond Index Fund (CAD-Hedged) ("XHY"),
as previously announced by press release dated July 5, 2013.
The new investment strategy of XHY is to invest primarily in a
regularly rebalanced portfolio of U.S. dollar-denominated high
yield corporate bonds, selected by BlackRock Canada from time to
time, that in aggregate closely match the characteristics of the
Markit iBoxx USD Liquid High Yield Total Return Index hedged in CAD
(the "XHY Index"), and hedge any resulting U.S. dollar currency
exposure back to Canadian dollars. The previous investment strategy
of XHY involved investing in the iShares iBoxx $ High Yield
Corporate Bond ETF, a U.S. iShares Fund that itself invests in a
portfolio of U.S. dollar-denominated high yield corporate bonds
included in the XHY Index. The investment objective of XHY and the
XHY Index have remained unchanged.
As a result of the new investment strategy, the potential
expiration of U.S. tax rules exempting qualified interest income
from U.S. withholding tax no longer affects XHY, as interest income
arising from direct investments in U.S. fixed income securities is
generally not subject to U.S. withholding taxes.
Further information on iShares funds can be found at
www.iShares.ca.
About BlackRock
BlackRock is a leader in investment management, risk management
and advisory services for institutional and retail clients
worldwide. At June 30, 2013, BlackRock's AUM was US$3.857 trillion.
BlackRock helps clients meet their goals and overcome challenges
with a range of products that include separate accounts, mutual
funds, iShares® (exchange-traded funds), and other pooled
investment vehicles. BlackRock also offers risk management,
advisory and enterprise investment system services to a broad base
of institutional investors through BlackRock Solutions®.
Headquartered in New York City, as of June 30, 2013, the firm has
approximately 10,700 employees in 30 countries and a major presence
in key global markets, including North and South America, Europe,
Asia, Australia and the Middle East and Africa. For additional
information, please visit the Company's website at
www.blackrock.com.
About iShares® ETFs
iShares is the global product leader in exchange traded funds
with over 600 funds globally across equities, fixed income and
commodities, which trade on 20 exchanges worldwide. The iShares
Funds are bought and sold like common stocks on securities
exchanges. The iShares Funds are attractive to many individual and
institutional investors and financial intermediaries because of
their relative low cost, tax efficiency and trading flexibility.
Investors can purchase and sell shares through any brokerage firm,
financial advisor, or online broker, and hold the funds in any type
of brokerage account. The iShares customer base consists of the
institutional segment of pension plans and fund managers, as well
as the retail segment of financial advisors and high net worth
individuals.
iShares® Funds are managed by BlackRock Asset Management Canada
Limited. Commissions, management fees and expenses all may be
associated with investing in iShares Funds. Please read the
relevant prospectus before investing. The ETFs 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.
© 2013 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.
Contacts: Contact for Media: Maeve Hannigan Veritas
Communications T - 416-955-4570 C -
647-618-8621hannigan@veritasinc.com
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