BLK BlackRock Inc

   By Stephen Nakrosis 
 

BlackRock Inc. (BLK) on Tuesday said BlackRock Cash Management filed an initial registration statement for the BlackRock Liquid Environmentally Aware Fund, a series of the BlackRock Funds, with the U.S. Securities and Exchange Commission.

The new fund will give consideration to select environmental criteria while still working to provide clients with as high a level of current income as is consistent with liquidity and preservation of capital, the company said.

BlackRock also said 5% of the net revenue from their management fee from the fund would be used to purchase and retire carbon offsets, either directly or through a third-party organization.

The fund will invest "in a broad range of money market instruments whose issuer or guarantor, in the opinion of BlackRock, at the time of investment has better than average performance in environmental practices," the company said. The fund will eschew investments in companies making significant revenue from the fossil fuels, thermal coal or nuclear-energy power generation.

BlackRock also said it entered an agreement with the World Wildlife Fund and would make an annual payment to help further WWF's global conservation efforts.

--Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

(END) Dow Jones Newswires

January 22, 2019 17:21 ET (22:21 GMT)

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