BlackRock Readies Environmentally Aware Money Market Fund
March 11 2020 - 9:42AM
Dow Jones News
By Michael Dabaie
BlackRock Cash Management said it filed an amendment to the
registration statement for the BlackRock Money Market Portfolio to
convert it to the BlackRock Wealth Liquid Environmentally Aware
Fund, or WeLEAF.
BlackRock said WeLEAF, a retail prime money market fund, will
seek to invest, under normal market conditions, at least 80% of the
value of its net assets in securities whose issuer or guarantor
meets the fund's environmental criteria.
Under the fund's investment policies, an issuer or guarantor may
meet such criteria if it, at the time of the fund's investment, has
better than average performance in environmental practices.
The fund may also invest in green bonds where, the use of
proceeds from their sale will be used to finance projects intended
to generate an environmental benefit.
WeLEAF won't invest in securities issued or guaranteed by
entities that derive more than 5% of their revenue from fossil
fuels mining, exploration or refinement, or from thermal coal or
nuclear energy-based power generation, BlackRock said.
Write to Michael Dabaie at michael.dabaie@wsj.com
(END) Dow Jones Newswires
March 11, 2020 09:27 ET (13:27 GMT)
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