BlackRock Asset Management Canada Limited (iShares)
TSX : XAL
TSX : XBB
TSX : XCB
TSX : XCG
TSX : XCR
TSX : XCS
TSX : XCV
TSX : XDV
TSX : XEG
TSX : XEM
TSX : XEN
TSX : XFN
TSX : XGB
TSX : XGC
TSX : XGD
TSX : XGR
TSX : XIC
TSX : XIN
TSX : XIT
TSX : XIU
TSX : XLB
TSX : XMA
TSX : XMD
TSX : XRB
TSX : XRE
TSX : XSB
TSX : XSP
TSX : XSU
TSX : XTR
TSX : XWD
TSX : XBZ
TSX : XLA
TSX : XID
TSX : XCH
TSX : XIG
TSX : XHY
TSX : XHB

BlackRock Asset Management Canada Limited (iShares)

November 18, 2010 16:37 ET

BlackRock® Announces Estimated 2010 Annual Capital Gains Distributions for the iShares® Funds

TORONTO, ONTARIO--(Marketwire - Nov. 18, 2010) - (TSX:XAL)(TSX:XBB)(TSX:XBZ)(TSX:XCB)(TSX:XCG)(TSX:XCH)(TSX:XCR)(TSX:XCS)(TSX:XCV)(TSX:XDV)(TSX:XEG)(TSX:XEM)(TSX:XEN)(TSX:XFN)(TSX:XGB)(TSX:XGC)(TSX:XGD)(TSX:XGR)(TSX:XHB)(TSX:XHY)(TSX:XIC)(TSX:XID)(TSX:XIG)(TSX:XIN)(TSX:XIT)(TSX:XIU)(TSX:XLA)(TSX:XLB)(TSX:XMA)(TSX:XMD)(TSX:XRB)(TSX:XRE)(TSX:XSB)(TSX:XSP)(TSX:XSU)(TSX:XTR)(TSX:XWD)

BlackRock Asset Management Canada Limited, an indirect, wholly-owned subsidiary of BlackRock, Inc., announces today the estimated annual capital gains distributions for the iShares Funds for the 2010 tax year. Please note that these are estimated amounts only as of November 5, 2010 and include forward-looking information which may cause the estimates to change before the Funds' December 15 tax year-end. These estimates are for the year-end capital gains distributions only, which are typically reinvested rather than paid in cash, and do not include estimates of ongoing monthly, quarterly, or semi-annual cash distribution amounts. 

We expect to announce the final year-end distribution amounts, as well as the monthly, quarterly, and semi-annual cash distribution amounts, on or about December 17. The ex-dividend date for the 2010 annual distributions will be December 24. The record date for the 2010 annual distributions will be December 30. The distributions will be paid/reinvested on December 31. The actual taxable amounts of reinvested and cash distributions for 2010, including the tax characteristics of the distributions, will be reported to brokers (through CDS) in early 2011. 

Ticker Symbol   Estimated annual capital gain per unit to Nov 5, 2010   Net asset value (NAV) per unit at Nov 5, 2010   Estimated annual capital gain as % of NAV at Nov 5, 2010  
XAL   0.58140   25.84910   2.25 %
XBB   0.00480   30.24947   0.02 %
XBZ   -   22.40272   0.00 %
XCB   0.25968   20.81168   1.25 %
XCG   -   24.18493   0.00 %
XCH   -   23.13985   0.00 %
XCR   0.54932   22.84191   2.40 %
XCS   0.81299   17.39162   4.67 %
XCV   0.10582   20.20261   0.52 %
XDV   -   20.42482   0.00 %
XEG   -   18.91591   0.00 %
XEM   0.00218   27.40925   0.01 %
XEN   -   17.76657   0.00 %
XFN   0.17818   22.89998   0.78 %
XGB   0.05419   20.98225   0.26 %
XGC   0.18601   24.74516   0.75 %
XGD   0.57377   25.77221   2.23 %
XGR   0.47683   24.42215   1.95 %
XHB   0.00005   20.26151   0.00 %
XHY   0.02763   20.99554   0.13 %
XIC   -   20.38509   0.00 %
XID   -   25.42665   0.00 %
XIG   0.31805   21.42439   1.48 %
XIN   -   18.27699   0.00 %
XIT   -   7.07897   0.00 %
XIU   -   18.59696   0.00 %
XLA   -   23.36172   0.00 %
XLB   -   20.90922   0.00 %
XMA   -   22.84557   0.00 %
XMD   -   22.24845   0.00 %
XRB   0.08265   22.11463   0.37 %
XRE   0.40131   14.03577   2.86 %
XSB   -   29.15965   0.00 %
XSP   0.30294   14.07637   2.15 %
XSU   -   16.03946   0.00 %
XTR   -   12.18222   0.00 %
XWD   0.00636   23.47915   0.03 %

Reasons for some of the larger estimated capital gains distributions

XAL

The iShares Alternatives Completion Portfolio Builder Fund ("XAL") experienced capital gains in 2010 due mostly to realized gains on investments in ETFs which provide exposure to property and infrastructure. XAL also realized capital gains on forward contracts used to hedge currency exposure to the U.S. dollar. XAL's portfolio is generally rebalanced on a quarterly basis.

XCR

The iShares Conservative Core Portfolio Builder Fund ("XCR") experienced capital gains in 2010 due mostly to realized gains on investments in ETFs which provide exposure to Canadian equities and property. XCR also realized capital gains on forward contracts used to hedge currency exposure to the U.S. dollar. XCR's portfolio is generally rebalanced on a quarterly basis.

XCS

The iShares S&P®/TSX® SmallCap Index Fund ("XCS") experienced capital gains in 2010 due mostly to turnover that resulted from the September 2010 annual index reconstitution of the S&P/TSX SmallCap Index. The index experienced one-way turnover of over 30% during that review, and 41 securities were deleted from the index. XCS's disposition of these securities resulted in realized capital gains.

XGD

The iShares S&P/TSX Global Gold Index Fund ("XGD") experienced capital gains in 2010 due mostly to the acquisition, and subsequent deletion from XGD's benchmark index, of LIHIR Gold Ltd., as well as the various rebalances for the fund. XGD's disposition of LIHIR Gold Ltd., as well as sales of other securities during the quarterly rebalances of the index, resulted in realized capital gains.

XRE

The iShares S&P/TSX Capped REIT Index Fund ("XRE") experienced capital gains in 2010 due mostly to the funding trades for the addition of Artis REIT and Allied Properties REIT to the S&P/TSX Capped REIT Index during its September quarterly index review. XRE sold various securities in order to fund the purchase of these additional securities, which resulted in realized capital gains.

XSP

The iShares S&P 500 Index Fund (CAD-Hedged) ("XSP") experienced capital gains in 2010 due mostly to realized gains on forward contracts used to hedge currency exposure to the U.S. dollar.

Forward-looking information

This notice contains forward-looking statements with respect to the estimated annual distributions for the iShares Funds. By their nature, these forward-looking statements involve risks and uncertainties that could cause the actual distributions to differ materially from those contemplated by the forward-looking statements. Material factors that could cause the actual distributions to differ from the estimated distributions between now and December 15 (the iShares Funds' tax year ends), include, but are not limited to: the actual amounts of distributions received by the iShares Funds; the actual amounts of capital gains generated from sales of securities; trading activity within the iShares Funds, including buying and selling of securities; index changes which cause rebalancing within the iShares Funds; and subscription and redemption activity.

About BlackRock

BlackRock is a leader in investment management, risk management and advisory services for institutional and retail clients worldwide. At September 30, 2010, BlackRock's AUM was US $3.446 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 September 30, 2010, the firm has approximately 8,900 employees in 24 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.

About iShares ETFs

The iShares business is the global product leader in ETFs with over 410 funds globally across equities, fixed income and commodities, which trade on 16 exchanges worldwide. The iShares funds are bought and sold like common stocks on securities exchanges. 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.

Contact Information

  • Contact for Media:
    Veritas Communications
    Lisa An
    416-955-4587 or Cell: 647-292-2478
    an@veritascanada.com