TORONTO, Jan. 11, 2023 (GLOBE NEWSWIRE) -- BlackRock Asset Management Canada Limited (“BlackRock Canada”), an indirect, wholly-owned subsidiary of BlackRock, Inc. (“BlackRock”) (NYSE: BLK) today announced that effective on January 12, 2023, the annual management fees of the following iShares exchange-traded funds (“iShares Funds”) will change as follows:
| Name | Ticker | Current Management Fee(1) | New Management Fee(1) | ||
| iShares Floating Rate Index ETF | XFR | 0.20% | 0.12% | ||
| iShares Premium Money Market ETF | CMR | 0.25% | 0.12% | ||
| iShares Core S&P 500 Index ETF (CAD-Hedged) | XSP | 0.09%(2) | 0.08%(2) | ||
| iShares Core S&P 500 Index ETF | XUS, XUS.U | 0.09%(2) | 0.08%(2) | ||
(1) As an annualized percentage of the iShares Fund’s daily net asset value.
(2) If applicable, BlackRock Canada or an affiliate is entitled to receive a fee for acting as manager of each iShares ETF in which this iShares Fund 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 this iShares Fund may invest, any underlying product fees are borne indirectly by this iShares Fund. BlackRock Canada will adjust the management fee payable to it by this iShares Fund to ensure that the total annual fees paid directly or indirectly to BlackRock Canada and its affiliates by this iShares Fund 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 this iShares Fund are calculated and accrued daily and are paid not less than annually.
There are no changes to the investment objectives of the iShares Funds. Current unitholders in the iShares Funds are not required to take any actions as a result of these changes.
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 900+ exchange-traded funds and US$2.62 trillion in assets under management as of September 30, 2022, 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
