ishares range changes

Transcription

1 ishares range changes BlackRock intends to migrate German ETFs to Ireland BlackRock intends to bring the benefits of its scale and unrivalled fund range to clients by merging the German-domiciled ishares ETF range into the Irishdomiciled ishares ETF range, subject to regulatory approvals. Since the German Investment Tax Reform (Investmentsteuerreform) came into effect on January 1, 2018 both German-domiciled and non-german-domiciled funds are subject to the same taxation in Germany. The total expense ratios (TERs) of the receiving Irish ETFs will be the same or lower than the merging German ETFs. Investors should benefit from larger funds which typically have greater liquidity and therefore lower trading spreads. The London- and Munich-based portfolio management teams will manage the new Irish ishares equity funds created for the mergers. BlackRock manages 54 German-domiciled ishares ETFs which had a combined AUM of USD 55.4bn on December 31, 2017; the receiving Irish ishares ETF range consists of 266 ETFs which had USD 294.5bn AUM. Want to know more? ishares.com info@ishares.com +44 (0)

2 Regulatory Information BlackRock Advisors (UK) Limited, which is authorised and regulated by the Financial Conduct Authority ('FCA'), registered office at 12 Throgmorton Avenue, London, EC2N 2DL, England, Tel +44 (0) For your protection, calls are usually recorded. The German domiciled funds are "undertakings for collective investment in transferable securities" (UCITS) in conformity with the directives within the meaning of the German Law on the investments. These funds are managed by BlackRock Asset Management Deutschland AG which is authorised and regulated by the Bundesanstalt für Finanzdienstleistungsaufsicht. For investors in Austria The funds mentioned in this document are registered for public offer in Austria. The Sales Prospectuses for the Companies, Key Investor Information Document and other documents as well as the annual and semiannual reports have been published in Austria and are available free of charge from UniCredit Bank AG Vienna Branch, Julius Tandler Platz 3, 1090 Vienna, Austria, the Austrian paying and information agent and are also available on the website Any decision to invest must be based solely on the information contained in the Company s Prospectus, Key Investor Information Document and the latest halfyearly report and unaudited accounts and/or annual report and audited accounts. Investors should read the fund specific risks in the Key Investor Information Document and the Company s Prospectus. The Companies intend to fulfil the requirements for treatment of all of their sub-funds as reporting funds. Therefore the Companies have an Austrian tax representative who calculates the Austrian Deemed Distributed Income figures once a year and files an electronic tax return with the Austrian Control Bank. However, it cannot be guaranteed that the requirements will be met in the future. The Companies reserve the right to give up the reporting fund status and to not undertake such tax filings. For investors in Germany The Sales Prospectus and Key Investor Information Document, as well as the annual and semi-annual reports are available free of charge from Commerzbank Kaiserplatz, Frankfurt am Main, Germany. The Companies intend to fulfil the prerequisites for treatment of their sub-funds as so-called "transparent funds" pursuant to 2 and 4 of the German Investment Tax Act (Investmentsteuergesetz InvStG). However, it cannot be guaranteed that the requirements will be met. The Companies reserve the right to give up the "transparent status" and to not undertake the necessary publications. Any decision to invest must be based solely on the information contained in the Company s Prospectus, Key Investor Information Document and the latest half-yearly report and unaudited accounts and/or annual report and audited accounts. Investors should read the fund specific risks in the Key Investor Information Document and the Company s Prospectus. Please note that important information about ishares VII funds is available in the current prospectus and other documents that can be obtained free of charge from the paying agent, Deutsche Bank AG Taunusanlage 12, Frankfurt am Main, Federal Republic of Germany. For investors in Switzerland The ishares ETFs are domiciled in Ireland, Switzerland and Germany. BlackRock Asset Management Schweiz AG, Bahnhofstrasse 39, CH-8001 Zurich, is the Swiss Representative and State Street International GmbH, Munich, Zurich Branch, Beethovenstrasse 19, CH-8002 Zürich the Swiss Paying Agent for the foreign ishares ETFs registered in Switzerland. The Prospectus with integrated fund contract, the Key Investor Information Document, the general and particular conditions, the Articles of Incorporation, the latest and any previous annual and semi-annual reports of the ishares ETFs domiciled or registered in Switzerland are available free of charge from BlackRock Asset Management Schweiz AG. Investors should read the fund specific risks in the Key Investor Information Document and the Prospectus. Restricted Investors This document is not, and under no circumstances is to be construed as an advertisement or any other step in furtherance of a public offering of shares in the United States or Canada. This document is not aimed at persons who are resident in the United States, Canada or any province or territory thereof, where the companies/securities are not authorised or registered for distribution and where no prospectus has been filed

3 with any securities commission or regulatory authority. The companies/securities may not be acquired or owned by, or acquired with the assets of, an ERISA Plan. Risk Warnings Investment in the products mentioned in this document may not be suitable for all investors. Past performance is not a reliable indicator of current or future results and should not be the sole factor of consideration when selecting a product or strategy. The price of the investments may go up or down and the investor may not get back the amount invested. Your income is not fixed and may fluctuate. The value of investments involving exposure to foreign currencies can be affected by exchange rate movements. We remind you that the levels and bases of, and reliefs from, taxation can change. BlackRock has not considered the suitability of this investment against your individual needs and risk tolerance. The data displayed provides summary information. Investment should be made on the basis of the relevant Prospectus which is available from the manager. In respect of the products mentioned this document is intended for information purposes only and does not constitute investment advice or an offer to sell or a solicitation of an offer to buy the securities described within. This document may not be distributed without authorisation from BlackRock Advisors (UK) Limited. Index Disclaimers Bloomberg, Bloomberg CommoditySM (Total Return Index) are service marks of Bloomberg L.P. and have been licensed for use for certain purposes by BlackRock. Neither Bloomberg Finance L.P. and its affiliates (collectively, Bloomberg ) nor UBS Securities LLC and its affiliates (collectively, UBS ) are affiliated with BlackRock Asset Management Deutschland AG, and Bloomberg and UBS do not approve, endorse, review, or recommend ishares Diversified Commodity Swap UCITS ETF (DE). BLOOMBERG and Bloomberg CommoditySM (Total Return Index) are trademarks or service marks of Bloomberg Finance L.P. and have been licensed to BlackRock Asset Management Deutschland AG. Neither Bloomberg nor UBS guarantees the timeliness, accurateness, or completeness of any data or information relating to Bloomberg CommoditySM (Total Return Index). DAX, DivDAX, eb.rexx, MDAX and TecDAX are registered trademarks of Deutsche Börse AG. The EURO STOXX, EURO STOXX Banks, EURO STOXX Health Care, EURO STOXX Select Dividend 30, EURO STOXX Technology, EURO STOXX Telecommunications, STOXX Europe 50, STOXX Europe 600 Automobiles & Parts, STOXX Europe 600 Banks, STOXX Europe 600 Basic Resources, STOXX Europe 600 Chemicals, STOXX Europe 600 Construction & Materials, STOXX Europe 600 Financial Services, STOXX Europe 600 Food & Beverage, STOXX Europe 600 Health Care, STOXX Europe 600 Industrial Goods & Services, STOXX Europe 600 Insurance, STOXX Europe 600 Media, STOXX Europe 600 Oil & Gas, STOXX Europe 600 Personal & Household Goods, STOXX Europe 600 Real Estate Cap, STOXX Europe 600 Retail, STOXX Europe 600 Technology, STOXX Europe 600 Telecommunications, STOXX Europe 600 Travel & Leisure, STOXX Europe600, STOXX Europe 600 Utilities, STOXX Europe Large 200, STOXX Europe Mid 200, STOXX Europe Select Dividend 30, STOXX Europe Small 200 and STOXX Global Select Dividend 100 indices and the trademarks used in the index names are the intellectual property of STOXX Limited, Zurich, Switzerland and/or its licensors. The indices are used under license from STOXX. The securities based on the indices are in no way sponsored, endorsed, sold or promoted by STOXX and/or its licensors and neither STOXX nor its licensors shall have any liability with respect thereto. "Dow Jones" anddow Jones Asia / Pacific Select Dividend 30 Index, Dow Jones China Offshore 50SM Index, Dow Jones Global Titans 50SM Index and Dow Jones Industrial Average Index are licensed for use for certain purposes by BlackRock Asset Management Deutschland AG.The ishares ETFs are not sponsored, endorsed, sold or promoted by Dow Jones and Dow Jones makes no representation regarding the advisability of investing in these products. The Dow Jones Sustainability World Enlarged Index ex Alcohol, Tobacco, Gambling, Armaments, Firearms and Adult Entertainment SM and Dow Jones Sustainability Europe Enlarged Index ex Alcohol, Tobacco, Gambling, Armaments, Firearms and Adult Entertainment SM" is a joint product of Dow Jones Indexes, the marketing name and a licensed trademark of CME Group Index Services LLC ("CME Indexes"), and SAM Indexes GmbH ( SAM ), and has been licensed for use. "Dow Jones ", "[DJSI Index]SM" and "Dow Jones Indexes" are service marks of Dow Jones Trademark Holdings, LLC ("Dow Jones") and have been licensed

4 to CME Indexes and sublicensed for use for certain purposes by BlackRock. Dow Jones, CME Indexes, SAM and their respective affiliates have no relationship to [licensee], other than making of the Dow Jones Sustainability World Enlarged Index ex Alcohol, Tobacco, Gambling, Armaments, Firearms and Adult Entertainment SM and Dow Jones Sustainability Europe Enlarged Index ex Alcohol, Tobacco, Gambling, Armaments, Firearms and Adult Entertainment SM"(the "Index") and their respective service marks available for use in connection with the ishares. Markit iboxx is a registered trade mark of Markit Indices Limited and has been licensed for use by BlackRock Asset Management Deutschland AG. Markit Indices Limited does not approve, endorse or recommend BlackRock Asset Management Deutschland AG or ishares ETF. These products are not sponsored, endorsed or sold by Markit Indices Limited and Markit Indices Limited makes no representation regarding the suitability of investing in the products. Nasdaq ', 'Nasdaq-100 ' and 'Nasdaq-100 Index ' are trademarks of the Nasdaq Stock Market Inc. (which with its affiliates is referred to as the 'Corporations') and are licensed for use by BlackRock Asset Management Deutschland AG. ishares NASDAQ-100 (DE) is not issued, endorsed, sold or promoted by the Corporations. The Corporations make no warranties and bear no liability with respect to the Product. The Nikkei Stock Average is a copyrighted material, calculated by Nihon Keizai Shimbun, Inc. which is the sole exclusive owner of the copyright and other intellectual property rights in the Nikkei Stock Average itself and the methodology to calculate the Nikkei Stock Average. Nihon Keizai Shimbun, Inc. (Licensor) granted a license to the licensee to use the Nikkei Stock Average as a basis for the ishares Nikkei 225 (DE) ETF. The Licensor does not sponsor, support, sell or market the ETF and has besides granting the license to the licensee no connection with the ETF. The ETF is managed exclusively at the risk of the licensee and licensor shall assume no obligation or responsibility for its management and transactions on the ETF. The ishares ETF is not sponsored, endorsed, sold or promoted by SIX Swiss Exchange Limted and SIX Swiss Exchange Limited makes no representation regarding the advisability of investing in the product. The Swiss Leader Index is a registered trademark of the SIX Swiss Exchange Limited and any use thereof requires a license. ATX ' (Austrian Traded Index ) is a registered trademark of Wiener Börse AG. The issuer has been granted a licence to use ATX about this issue. ishares ATX (DE) is not sponsored, recommended or marketed by Wiener Börse AG.

5 Fund Disclaimers The pricing of swaps and the pricing of the Fund s target asset exposures can differ over time, which can affect the Fund s performance against its benchmark. Swap agreements can also give rise to increased Counterparty Risk if the counterparties fail to provide sufficient assets as security for amounts owed to the Fund or if the Fund is unable to transact with multiple counterparties. The prices of commodities tend to experience greater variations than other asset classes (e.g. equities or fixed income securities). Investments in commodities are therefore potentially riskier than other types of investments. Investment risk is concentrated in specific sectors, countries, currencies or companies. This means the Fund is more sensitive to any localised economic, market, political or regulatory events. Counterparty Risk: The insolvency of any institutions providing services such as safekeeping of assets or acting as counterparty to derivatives or other instruments, may expose the Share Class to financial loss. Credit risk, changes to interest rates and/or issuer defaults will have a significant impact on the performance of fixed income securities. Potential or actual credit rating downgrades may increase the level of risk. Credit Risk: The issuer of a financial asset held within the Fund may not pay income or repay capital to the Fund when due. Currency Risk: The Fund invests in other currencies. Changes in exchange rates will therefore affect the value of the investment. Derivatives are highly sensitive to changes in the value of the asset on which they are based and can increase the size of losses and gains, resulting in greater fluctuations in the value of the Fund. The impact to the Fund can be greater where derivatives are used in an extensive or complex way. Emerging markets are generally more sensitive to economic and political conditions than developed markets. Other factors include greater 'Liquidity Risk', restrictions on investment or transfer of assets and failed/delayed delivery of securities or payments to the Fund. The value of equities and equity-related securities can be affected by daily stock market movements. Other influential factors include political, economic news, company earnings and significant corporate events. Investments in energy securities are subject to environmental concerns, taxes, government regulation, price and supply changes. Investments in property securities can be affected by the general performance of stock markets and the property sector. Changing interest rates can affect the value of properties in which a property company invests. Investments in the natural resources securities are subject to environmental concerns, taxes, government regulation, price and supply fluctuations. Liquidity Risk: Lower liquidity means there are insufficient buyers or sellers to allow the Fund to sell or buy investments readily. Shares in smaller companies typically trade in less volume and experience greater price variations than larger companies BlackRock, Inc. All Rights reserved. BLACKROCK, BLACKROCK SOLUTIONS, ishares, BUILD ON BLACKROCK, SO WHAT DO I DO WITH MY MONEY and the stylized i logo are registered and unregistered trademarks of BlackRock, Inc. or its subsidiaries in the United States and elsewhere. All other trademarks are those of their respective owners.