BlackRock has one of the most comprehensive and diverse
investment platforms in the industry, providing investors with
choice to meet their investment objectives. Investors are
continuing to turn to BlackRock to unlock the full potential of
their portfolios, as reflected by $1.9 trillion of net inflows in
the past five years globally.1
In the U.S., BlackRock offers over 600 mutual funds and ETFs for
investors to access different market exposures.2 As we evolve our
platform and launch new strategies, we also constantly assess the
regulatory and operating environment as well as how our funds are
meeting investors’ investment objectives. Today, BlackRock is
announcing the upcoming liquidation of 15 U.S.-domiciled mutual
funds and ETFs.
Fund
Name
Last
Trading Date
Liquidation Date3
BlackRock Future Climate and Sustainable
Economy ETF (NYSE: BECO)
8/12/2024
8/15/2024
BlackRock Future Tech ETF (NYSE: BTEK)
8/12/2024
8/15/2024
BlackRock Liquid Environmentally Aware
Fund4
N/A
9/5/2024
TempFund4
N/A
9/5/2024
BlackRock Sustainable Advantage CoreAlpha
Bond Fund
N/A
8/13/2024
BlackRock Sustainable International Equity
Fund
N/A
8/13/2024
BlackRock Sustainable Low Duration Bond
Fund
N/A
8/13/2024
BlackRock Sustainable US Growth Equity
Fund
N/A
8/13/2024
iShares Currency Hedged MSCI Germany ETF
(Nasdaq: HWEG)
8/12/2024
8/15/2024
iShares Frontier and Select EM ETF (NYSE:
FM)
See below
iShares Gold Strategy ETF (Cboe: IAUF)
8/12/2024
8/15/2024
iShares International Developed Property
ETF (NYSE: WPS)
8/12/2024
8/15/2024
iShares MSCI International Size Factor ETF
(NYSE: ISZE)
8/12/2024
8/15/2024
iShares USD Systematic Bond ETF (Nasdaq:
USBF)
8/12/2024
8/15/2024
iShares Virtual World and Life Multisector
ETF (NYSE: IWFH)
8/12/2024
8/15/2024
BlackRock continues to expand its active ETF platform, managing
$30 billion in AUM, as investors seek new access points to active
management globally. In addition, BlackRock’s sustainable investing
platform has grown sevenfold to over $800 billion in assets over
the last five years and includes over 450 products globally. The
firm’s industry-leading transition investing platform now manages
over $100 billion in AUM globally. 5
As described in the prospectuses, investors will incur
management fees until the liquidations are complete. In addition to
the management fee, investors who opt to sell an ETF will bear the
usual transaction and commissions costs in the secondary market. In
both cases, investors may see a capital gain or loss on their
investment.
iShares Frontier and Select EM ETF
BlackRock has also announced the liquidation of the iShares
Frontier and Select EM ETF (NYSE: FM). Over the past 12 years since
the fund's inception, BlackRock has provided investors access to
new and expanding corners of the capital markets, and several of
these frontier market countries have been elevated to emerging
market status. Select portions of the remaining smaller universe of
frontier markets have experienced persistent liquidity challenges,
and as a result, there will be an extended liquidation period for
the fund.
BlackRock currently expects that the fund will cease trading and
no longer accept creation and redemption orders after market close
on or around March 31, 2025; however, this date is subject to
change. During the extended liquidation period, the fund will not
be managed in accordance with its investment objective and
policies, as the fund will sell down its assets, as determined by
BlackRock, where possible and hold the proceeds of such sales in
cash and cash equivalents. Proceeds of the liquidation are expected
to be sent to shareholders on or around three days after the last
trading date. The Fund’s website will be updated upon the
determination of such dates.
Money Market Funds
The liquidations of TempFund, a series of BlackRock Liquidity
Funds, and the BlackRock Liquid Environmentally Aware Fund, a
series of BlackRock Funds, are driven by new amendments to Rule
2a-7, the principal rule governing U.S. Money Market Funds, adopted
by the Securities and Exchange Commission on July 12, 2023, among
other operational considerations.
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 1300+ exchange traded funds (ETFs) and $3.75
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.
Carefully consider the Funds' investment objectives, risk
factors, and charges and expenses before investing. This and other
information can be found in the Funds' prospectuses or, if
available, the summary prospectuses which may be obtained by
visiting www.iShares.com or www.blackrock.com. Read the prospectus
carefully before investing.
Investing involves risk, including possible loss of
principal.
This information should not be relied upon as research,
investment advice, or a recommendation regarding any products,
strategies, or any security in particular. This material is
strictly for illustrative, educational, or informational purposes
and is subject to change. This material does not constitute any
specific legal, tax or accounting advice. Please consult with
qualified professionals for this type of advice.
The BlackRock Funds are not sponsored, endorsed, issued, sold or
promoted by MSCI Inc., nor does this company make any
representation regarding the advisability of investing in the
Funds. BlackRock is not affiliated with MSCI Inc.
The iShares and BlackRock Funds are distributed by BlackRock
Investments, LLC (together with its affiliates, “BlackRock”).
©2024 BlackRock, Inc. or its affiliates. All rights reserved.
iSHARES and BLACKROCK are trademarks of BlackRock,
Inc. or its affiliates. All other trademarks are those of their
respective owners.
1 BlackRock, as of March 31, 2024
2 BlackRock, as of May 31, 2024
3 Proceeds of the liquidation are scheduled to be sent to the
shareholders on or around Liquidation Date.
4 The BlackRock Wealth Liquid Environmentally Aware Fund and
offshore Institutional Cash Series (ICS) Liquid Environmentally
Aware Funds are not impacted and will remain open to eligible
investors.
5 BlackRock, as of June, 5, 2024
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240607459139/en/
MEDIA: Joanna Yau joanna.yau@BlackRock.com
646.856.7274
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