TORONTO, ONTAIRO -- (Marketwired) -- 08/13/15 -- (TSX: FIE)(TSX: FIE.A) - BlackRock Asset Management Canada Limited ("BlackRock Canada"), an indirect, wholly-owned subsidiary of BlackRock, Inc. ("BlackRock") (NYSE: BLK) and manager of iShares Canadian Financial Monthly Income ETF ("FIE"), announced today that unitholders of FIE approved the proposed extension of the term of FIE on an indefinite basis by amending the trust agreement governing FIE to remove FIE's scheduled termination date of September 30, 2015 (the "Fund Extension").
The Fund Extension has also received all necessary stock exchange approvals and has been implemented effective today.
In connection with the Fund Extension, the trust agreement governing FIE was also amended to provide that FIE may, subject to applicable law, be terminated by BlackRock Canada, as trustee of FIE, upon providing not less than 60 days' notice to unitholders of FIE.
Unitholders of FIE who voted against the Fund Extension will be permitted, on a one-time basis, to redeem all (but not less than all) of their units of FIE at their respective net asset value per unit on September 30, 2015 (the "Special Redemption"). Further information regarding how eligible unitholders can participate in the Special Redemption is provided in the management information circular dated July 10, 2015 (the "Circular") that was mailed to unitholders of FIE on or about July 14, 2015.
FIE's prospectus disclosure will be updated to reflect the implementation of the Fund Extension as well as the changes regarding FIE's existing credit facility, which were previously announced on June 11, 2015.
More information available
The Circular providing more details on the Fund Extension is available on the iShares website at www.blackrock.com/ca and on SEDAR.
Further information on the iShares funds can be found at www.blackrock.com/ca.
BlackRock is a leader in investment management, risk management and advisory services for institutional and retail clients worldwide. At June 30, 2015, BlackRock's AUM was $4.721 trillion. BlackRock helps clients meet their goals and overcome challenges with a range of products that include separate accounts, mutual funds, iShares® (exchange-traded funds), and other pooled investment vehicles. BlackRock also offers risk management, advisory and enterprise investment system services to a broad base of institutional investors through BlackRock Solutions®. Headquartered in New York City, as of June 30, 2015, the firm had approximately 12,400 employees in more than 30 countries and a major presence in key global markets, including North and South America, Europe, Asia, Australia and the Middle East and Africa. For additional information, please visit the Company's website at www.blackrock.com/ca / Twitter: @BlackRockCA / Blog: www.blackrockblog.com/can
iShares is a global leader in exchange-traded funds (ETFs), with more than a decade of expertise and commitment to individual and institutional investors of all sizes. With over 700 funds globally across multiple asset classes and strategies and more than $1 trillion in assets under management as of June 30, 2015, iShares helps clients around the world build the core of their portfolios, meet specific investment goals and implement market views. iShares funds are powered by the expert portfolio and risk management of BlackRock, trusted to manage more money than any other investment firm.(1)
iShares® Funds are managed by BlackRock Asset Management Canada Limited.
Commissions, management fees and expenses all may be associated with investing in iShares Funds. Please read the relevant prospectus before investing. Fund securities are not covered by the Canada Deposit Insurance Corporation or by any other government deposit insurer. There can be no assurances that the fund will be able to maintain its net asset value per security at a constant amount or that the full amount of your investment in the fund will be returned to you. The fund is not guaranteed, its 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.
(1) Based on $4.721in AUM as of 6/30/15.
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