TORONTO, June 26, 2020 (GLOBE NEWSWIRE) -- BlackRock Asset Management Canada Limited (“BlackRock Canada”), an indirect, wholly-owned subsidiary of BlackRock, Inc. (NYSE: BLK) announced plans today to terminate the following mutual funds (each a “Terminating Fund”).
| Terminating Funds |
| BlackRock All Bond Portfolio |
| BlackRock Defensive Portfolio |
| BlackRock Conservative Portfolio |
| BlackRock Balanced Portfolio |
| BlackRock Growth Portfolio |
| BlackRock MaxGrowth Portfolio |
| BlackRock Diversified Monthly Income Portfolio |
The decision to terminate was made by BlackRock Canada based on an ongoing process to review its product lineup and ensure it meets the evolving needs of its clients. It is expected that each Terminating Fund will terminate on or about September 4, 2020 (the “Termination Date”).
Effective as of the market close today, units of each Terminating Fund will no longer be available for purchase, including any purchases made through a pre-authorized purchase plan.
As noted, the effective date of termination of each Terminating Fund is expected to be on or about September 4, 2020. All units not redeemed prior to a Terminating Fund’s closure will be automatically redeemed at that time at the Terminating Fund’s net asset value per unit. If you still hold a position in a Terminating Fund at 4:00 pm EST on the Termination Date, your position will be liquidated with the proceeds deposited into your account.
The monthly distribution from the BlackRock All Bond Portfolio and the BlackRock Diversified Monthly Income Portfolio that is scheduled for payment on September 1, 2020 will be cancelled as a result of each fund’s termination.
If required, a final distribution for a Terminating Fund will be determined before the Termination Date. Any undistributed income (in cash or units) will be included in the liquidation proceeds of a Terminating Fund.
The redemption of your units of a Terminating Fund and the termination of that Terminating Fund may have tax consequences. We strongly urge you to contact your financial advisor to discuss the financial and tax implications associated with the redemption of your units and the termination of the Terminating Fund that you hold in your particular circumstances.
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.
Commissions, trailing commissions, management fees and expenses all may be associated with investing in the Terminating Funds. Please read the relevant prospectus before investing. The Terminating 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.
©2020 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.
Contact for Media:
Maeve Hannigan
T - 416-643-4058
Email - Maeve.Hannigan@blackrock.com