BlackRock, Inc.

BlackRock, Inc.
BlackRock Asset Management Canada Limited

April 02, 2012 07:00 ET

BlackRock Announces Termination of Claymore Inverse 10 Yr Government Bond ETF

TORONTO, ONTARIO--(Marketwire - April 2, 2012) - BlackRock Investments Canada Inc., an indirect, wholly-owned subsidiary of BlackRock, Inc. (NYSE:BLK), today announced that it will terminate the Claymore Inverse 10 Yr Government Bond ETF (TSX:CIB) and distribute to unitholders the proceeds to be received from the liquidation of the assets, less all liabilities and all expenses to be incurred in connection with the termination and dissolution of CIB.

BlackRock, and its leading exchange traded fund (ETF) provider iShares, proposed late last year a series of regulatory reforms and recommendations for enhanced disclosure and transparency related to the ETF markets. ETFs have provided investors with a low cost and transparent way to access a wide variety of asset classes for more than two decades. When first introduced, ETFs brought investors new levels of transparency and disclosure among other benefits. However, increasingly complex ETFs and related products have sometimes failed to maintain that standard and have introduced new risks to these products.

"We believe in providing products that will help investors build robust portfolios and achieve their savings and investment goals" says Mary Anne Wiley, Head of iShares, BlackRock Canada. "Given the fund's mandate is speculative in nature and designed for short-term use, we don't believe it fits well with the iShares brand or product philosophy and will be terminating the fund"

BlackRock Investments expects that CIB will be terminated on or about June 22, 2012 and that proceeds from the termination and dissolution of CIB will be payable to CIB unitholders on or shortly after the termination date.

About BlackRock

BlackRock is a leader in investment management, risk management and advisory services for institutional and retail clients worldwide. At December 31, 2011, BlackRock's AUM was US$3.513 trillion. BlackRock offers products that span the risk spectrum to meet clients' needs, including active, enhanced and index strategies across markets and asset classes. Products are offered in a variety of structures including 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 December 31, 2011, the firm has approximately 10,100 employees in 27 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

About iShares ETFs

The iShares business is a global product leader in ETFs with over 460 funds globally across equities, fixed income and commodities, which trade on 19 exchanges worldwide. The iShares funds are attractive to many individual and institutional investors and financial intermediaries because of their relative low cost, tax efficiency and trading flexibility. Investors can purchase and sell securities through any brokerage firm, financial advisor, or online broker, and hold the funds in any type of brokerage account. The iShares customer base consists of the institutional segment of pension plans and fund managers, as well as the retail segment of financial advisors and individual investors.

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