Toronto-based BlackRock Asset Management Canada Limited (BlackRock Canada) has made changes to the investment strategies of several iShares funds.
The revised investment strategies allow an iShares fund to invest in securities of one or more iShares exchange-traded funds managed by BlackRock Canada or an affiliate, and/or in index securities of the applicable index that the iShares Fund seeks to replicate, such that the resulting portfolio will have characteristics that closely match the characteristics of such index.
The investment strategy of each of the iShares funds was previously to invest primarily in shares of one or more U.S. iShares funds managed by an affiliate of BlackRock Canada.
The investment objective of each iShares dund remains unchanged. BlackRock Canada expects that the new investment strategies will be effective March 24.
The changes affect the following funds:
- iShares MSCI Brazil Index ETF (XBZ);
- iShares S&P Global Consumer Discretionary Index ETF (CAD-Hedged) (XCD);
- iShares China Index ETF (XCH);
- iShares J.P. Morgan USD Emerging Markets Bond Index ETF (CAD-Hedged) (XEB);
- iShares MSCI Emerging Markets IMI Index ETF (XEC);
- iShares MSCI EAFE IMI Index ETF (XEF);
- iShares MSCI Emerging Markets Index ETF (XEM);
- iShares S&P Global Industrials Index ETF (CAD-Hedged) (XGI);
- iShares Global Healthcare Index ETF (CAD-Hedged) (XHC);
- iShares India Index ETF (XID);
- iShares U.S. IG Corporate Bond Index ETF (CAD-Hedged) (XIG);
- iShares MSCI EAFE Index ETF (CAD-Hedged) (XIN);
- iShares Latin America Index ETF (XLA);
- iShares MSCI EAFE Minimum Volatility Index ETF (XMI);
- iShares MSCI Emerging Markets Minimum Volatility Index ETF (XMM);
- iShares MSCI All Country World Minimum Volatility Index ETF (XMW);
- iShares S&P/TSX North American Preferred Stock Index ETF (CAD-Hedged) (XPF);
- iShares S&P 500 Index ETF (CAD-Hedged) (XSP);
- iShares U.S. Small Cap Index ETF (CAD-Hedged) (XSU); and
- iShares S&P 500 Index ETF (XUS) and iShares MSCI World Index ETF (XWD).
In addition, the names of certain of the iShares funds were changed in order to replace the word “fund” with “ETF”, while the names of certain other iShares funds were changed more significantly, as follows:
- iShares CNX Nifty India Index ETF is now iShares India Index ETF;
- iShares S&P Latin America 40 Index Fund is now iShares Latin America Index ETF;
- iShares S&P Global Healthcare Index Fund (CAD-Hedged) is now iShares Global Healthcare Index ETF (CAD-Hedged); and
- iShares Russell 2000 Index Fund (CAD-Hedged) is now iShares U.S. Small Cap Index ETF (CAD-Hedged).