BlackRock Launches iShares Short Maturity Municipal Bond ETF
March 05 2015 - 8:30AM
Business Wire
Seeks to maximize tax-free income through
diversified exposure to short-term municipal bonds
BlackRock, Inc. (NYSE:BLK) announced today that its iShares
Exchange Traded Funds (ETFs) business, the world’s largest manager
of ETFs, has launched the iShares Short Maturity Municipal Bond ETF
(BATS:MEAR).
iShares Short Maturity Municipal Bond ETF is actively managed by
BlackRock’s municipal bond team with more than 25 years of
investment experience and backed by a dedicated municipal credit
research team. An active approach allows the portfolio management
and research team to capitalize on municipal opportunities along
the front of the yield curve and across the investment grade credit
spectrum.
The fund seeks to maximize tax-free income through diversified
exposure to short-term municipal bonds by investing in tax-exempt
municipal bonds with maturities of less than five years. Under
normal circumstances the portfolio will have an effective duration
of 1.2 years or less.
iShares Short Maturity Municipal Bond ETF extends iShares
current suite of short duration and municipal bond ETFs to provide
investors with a wide range of investment choices backed by the
investment excellence of BlackRock’s fixed income portfolio
management team.
About BlackRock
BlackRock is a leader in investment management, risk management
and advisory services for institutional and retail clients
worldwide. At December 31, 2014, BlackRock’s AUM was $4.652
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 September 30, 2014, the firm
had approximately 12,100 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 | Twitter: @blackrock_news | Blog:
www.blackrockblog.com | LinkedIn:
www.linkedin.com/company/blackrock
About iShares
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 December 31, 2014,
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
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.
Diversification may not protect against market risk or loss of
principal. Fixed income risks include interest-rate and credit
risk. Typically, when interest rates rise, there is a corresponding
decline in bond values. Credit risk refers to the possibility that
the bond issuer will not be able to make principal and interest
payments. There may be less information on the financial condition
of municipal issuers than for public corporations. The market for
municipal bonds may be less liquid than for taxable bonds. Some
investors may be subject to federal or state income taxes or the
Alternative Minimum Tax (AMT). Capital gains distributions, if any,
are taxable.
The Fund is not a money market fund and is not subject to the
strict rules that govern the quality, maturity, liquidity and other
features of securities that money market funds may purchase.
Under normal circumstances, the Fund’s investments may be more
susceptible than a money market fund is to credit risk, interest
rate risk, valuation risk and other risks relevant to the Fund’s
investments. The Fund does not seek to maintain a stable net
asset value of $1.00 per share.
The Fund will hold securities with floating or variable interest
rates which may decline in value if their coupon rates do not reset
as high, or as quickly, as comparable market interest rates.
Although floating rate notes are less sensitive to interest rate
risk than fixed rate securities, they are subject to credit and
default risk, which could impair their value
The Fund is an actively managed ETF that does not seek to
replicate the performance of a specified index. The Fund may have a
higher degree of portfolio turnover than funds that seek to
replicate the performance of an index. Active funds typically
charge higher fees than index-linked products due to increased
trading and research expenses that may be incurred.
Effective duration is a measure of the Fund’s price sensitivity
to changes in yields or interest rates; however investors should be
aware that effective duration is not an exact measurement and may
not reliably predict a particular security’s price sensitivity to
changes in yield or interest rates.
The payment of a CLP Fee is intended to generate more quotes and
trading than might otherwise exist absent this payment, and that
the security leaving the Program may adversely impact a purchaser’s
subsequent sale of the security. Learn more at:
http://www.ishares.com/us/products/liquidity-incentive-programs
The Funds are distributed by BlackRock Investments, LLC
(together with its affiliates, “BlackRock”).
©2015 BlackRock. All rights reserved. iSHARES and
BLACKROCK are registered trademarks of BlackRock. All other
marks are the property of their respective owners.
iS-14933-0315
1 Based on 4.652T in AUM as of 12/31/14.
BlackRock, Inc.Melissa Garville,
212-810-5528Melissa.Garville@blackrock.comorDiane Henry,
415-670-4567Diane.Henry@blackrock.com
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