BlackRock® Canada Announces Risk Rating Updates and makes Fee Reduction Waiver Permanent
26 Junio 2024 - 7:00AM
BlackRock Asset Management Canada Limited (“BlackRock Canada”), an
indirect, wholly-owned subsidiary of BlackRock, Inc. (“BlackRock”)
(NYSE:BLK) today announced certain risk rating changes and made
permanent a previously implemented annual management fee waiver,
each as specifically described below.
Risk Rating Changes
BlackRock Canada announced today an update to
the investment risk rating of the iShares exchange-traded funds
(the “iShares Funds” and each an “iShares Fund”) listed below.
iShares Fund Name |
Previous Risk Rating |
Updated Risk Rating |
iShares S&P/TSX Capped REIT Index ETF (TSX: XRE) |
Medium |
Medium to High |
iShares Core S&P U.S. Total Market Index ETF (CAD-Hedged) (TSX:
XUH) |
Medium |
Medium to High |
iShares S&P U.S. Small-Cap Index ETF (CAD-Hedged) (TSX:
XSMH) |
Medium to High |
High |
iShares Core Canadian 15+ Year Federal Bond Index ETF (TSX:
XFLB) |
Low to medium |
Medium |
Such changes are a result of the risk rating
methodology mandated by the Canadian Securities Administrators and
an annual review by BlackRock Canada to determine the risk level of
its publicly-offered exchange traded mutual funds. A copy of the
standardized risk classification methodology used by BlackRock
Canada to identify the investment risk levels of the iShares Funds
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.
No material changes have been made to the
investment objectives, strategies or management of the iShares
Funds. The change in the risk ratings will be reflected in the
iShares Funds’ offering documents which will be completed in
accordance with applicable securities laws.
Permanent Fee Reduction Waiver - iShares MSCI
Min Vol Emerging Markets Index ETF
BlackRock Canada had previously announced a
partial management fee waiver in respect of iShares MSCI Min Vol
Emerging Markets Index ETF (TSX: XMM) (the “XMM Waiver”). After
giving effect to the XMM Waiver, and since July 12, 2012, BlackRock
Canada has been entitled to receive an annual management fee of
0.40% from XMM. Effective June 27, 2024, BlackRock Canada will make
the XMM Waiver permanent. The annual management fee of XMM will
therefore be as follows:
Original Management Fee1 |
New Management Fee |
0.79%* |
0.40%* |
*Figure represents an
annualized percentage of XMM’s daily net asset value. In addition,
if applicable, BlackRock Canada or an affiliate is entitled to
receive a fee for acting as manager of exchange traded funds
managed by BlackRock Canada or an affiliate (each an “iShares ETF”)
in which XMM may invest (an “underlying product fee” and together
with the management fee payable to BlackRock Canada, the “total
annual fee”). As the underlying product fees are embedded in the
market value of the iShares ETFs in which XMM may invest, any
underlying product fees are borne indirectly by XMM. BlackRock
Canada will adjust the management fee payable to it by XMM to
ensure that the total annual fees paid directly or indirectly to
BlackRock Canada and its affiliates by XMM will not exceed the
percentage of the NAV set out above. The total annual fee is
exclusive of HST. Any underlying product fees borne indirectly by
XMM are calculated and accrued daily and are paid not less than
annually.
There are no changes to the investment objective
of XMM. Current unitholders in XMM are not required to take any
actions as a result of the XMM Waiver being made permanent.
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.
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 1400+ exchange traded funds
(ETFs) and US$3.7 trillion in assets under management as of March
31, 2024, iShares continues to drive progress for the financial
industry. iShares funds are powered by the expert portfolio and
risk management of BlackRock.
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.
Contact for Media: Reem Jazar
Email: reem.jazar@blackrock.com
1 Not including the XMM Waiver.
iShares MSCI Min Vol Eme... (TSX:XMM)
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iShares MSCI Min Vol Eme... (TSX:XMM)
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