BlackRock Asset Management Canada Limited (iShares)

BlackRock Asset Management Canada Limited (iShares)

November 26, 2014 08:00 ET

BlackRock® Announces Estimated 2014 Annual Reinvested Capital Gains Distributions for the iShares® Funds

TORONTO, ONTARIO--(Marketwired - Nov. 26, 2014) - (TSX:CBD)(TSX:CBD.A)(TSX:CBH)(TSX:CBH.A)(TSX:CBN)(TSX:CBN.A)(TSX:CBO)(TSX:CBO.A)(TSX:CBR)(TSX:CBR.A)(TSX:CBQ)(TSX:CBQ.A)(TSX:CDZ)(TSX:CDZ.A)(TSX:CEW)(TSX:CEW.A)(TSX:CGL)(TSX:CGL.C)(TSX:CGR)(TSX:CGR.A)(TSX:CHB)(TSX:CHB.A)(TSX:CHI)(TSX:CHI.A)(TSX:CIE)(TSX:CIE.A)(TSX:CIF)(TSX:CIF.A)(TSX:CJP)(TSX:CJP.A)(TSX:CLF)(TSX:CLF.A)(TSX:CLG)(TSX:CLG.A)(TSX:CLO)(TSX:CLO.A)(TSX:CLU)(TSX:CLU.A)(TSX:CLU.B)(TSX:CLU.C)(TSX:CMR)(TSX:CMR.A)(TSX:CMW)(TSX:CMW.A)(TSX:COW)(TSX:COW.A)(TSX:CPD)(TSX:CPD.A)(TSX:CRQ)(TSX:CRQ.A)(TSX:CSD)(TSX:CSD.A)(TSX:CUD)(TSX:CUD.A)(TSX:CVD)(TSX:CVD.A)(TSX:CWO)(TSX:CWO.A)(TSX:CWW)(TSX:CWW.A)(TSX:CYH)(TSX:CYH.A)(TSX:SVR)(TSX:SVR.C)(TSX:FIE)(TSX:FIE.A)(TSX:XAL)(TSX:XBB)(TSX:XBM)(TSX:XBZ)(TSX:XCB)(TSX:XCD)(TSX:XCG)(TSX:XCH)(TSX:XCR)(TSX:XCS)(TSX:XCV)(TSX:XDV)(TSX:XEB)(TSX:XEC)(TSX:XEF)(TSX:XEG)(TSX:XEH)(TSX:XEI)(TSX:XEM)(TSX:XEN)(TSX:XEU)(TSX:XFN)(TSX:XFR)(TSX:XGB)(TSX:XGC)(TSX:XGD)(TSX:XGI)(TSX:XGR)(TSX:XHB)(TSX:XHC)(TSX:XHD)(TSX:XHY)(TSX:XIC)(TSX:XID)(TSX:XIG)(TSX:XIN)(TSX:XIT)(TSX:XIU)(TSX:XLA)(TSX:XLB)(TSX:XMA)(TSX:XMD)(TSX:XMI)(TSX:XMM)(TSX:XMU)(TSX:XMV)(TSX:XMW)(TSX:XPF)(TSX:XQB)(TSX:XQB.A)(TSX:XQQ)(TSX:XRB)(TSX:XRE)(TSX:XSB)(TSX:XSH)(TSX:XSP)(TSX:XSQ)(TSX:XST)(TSX:XSU)(TSX:XTR)(TSX:XUS)(TSX:XUT)(TSX:XVX)(TSX:XWD) -

BlackRock Asset Management Canada Limited ("BlackRock Canada"), an indirect, wholly-owned subsidiary of BlackRock, Inc. (NYSE:BLK), today announced the estimated annual reinvested capital gains distributions for the iShares Funds listed on the Toronto Stock Exchange for the 2014 tax year. Please note that these are estimated amounts only as of October 31, 2014 and may reflect forward-looking assumptions made by management. As these are estimated amounts, the final capital gains distributions may change by the Funds' December 15, 2014 tax year-end.

These estimates are for the annual non-cash capital gains distributions, which are typically reinvested in additional units of the respective funds at the year-end, and do not include estimates of ongoing monthly, quarterly, semi-annual, or annual cash distribution amounts. The additional units will be immediately consolidated with the previously outstanding units such that the number of outstanding units following the distribution will equal the number of units outstanding prior to the distribution.

We expect to announce the final annual reinvested distribution amounts, as well as the monthly, quarterly, semi-annual, and annual cash distribution amounts, as applicable, for 2014, on or about December 18, 2014. The record date for the 2014 annual distributions will be December 31, 2014, payable on January 6, 2015. The actual taxable amounts of reinvested and cash distributions for 2014, including the tax characteristics of the distributions, will be reported to brokers (through CDS Clearing and Depository Services Inc. or "CDS") in early 2015.

Fund Name Fund Ticker Net asset value (NAV) per unit at Oct 31, 2014 Estimated annual reinvested capital gains as % of NAV at Oct 31, 2014
iShares Balanced Income CorePortfolio™ Index ETF CBD 21.522993 3.15 %
CBD.A 21.412299 3.34 %
iShares 1-10 Year Laddered Corporate Bond Index ETF CBH 19.769638 0.00 %
CBH.A 19.748471 0.00 %
iShares Balanced Growth CorePortfolio™ Index ETF CBN 18.453687 3.47 %
CBN.A 18.582077 3.60 %
iShares 1-5 Year Laddered Corporate Bond Index ETF CBO 19.511979 0.00 %
CBO.A 19.493593 0.00 %
iShares BRIC Index ETF CBQ 24.484893 0.00 %
CBQ.A 24.488702 0.00 %
iShares Broad Commodity Index ETF (CAD-Hedged) CBR 20.230028 0.00 %
CBR.A 19.569972 0.00 %
iShares S&P®/TSX® Canadian Dividend Aristocrats Index ETF CDZ 26.367314 4.94 %
CDZ.A 26.213245 3.89 %
iShares Equal Weight Banc & Lifeco ETF CEW 10.363722 0.00 %
CEW.A 8.219069 0.29 %
iShares Global Real Estate Index ETF CGR 24.689863 0.20 %
CGR.A 24.607859 1.03 %
iShares Gold Bullion ETF CGL 10.385379 0.00 %
CGL.C 11.721737 0.00 %
iShares Advantaged U.S. High Yield Bond Index ETF (CAD-Hedged) CHB 20.826961 5.45 %
CHB.A 20.773079 6.86 %
iShares China All-Cap Index ETF CHI 23.224023 0.00 %
CHI.A 22.797907 0.00 %
iShares International Fundamental Index ETF CIE 16.790603 2.25 %
CIE.A 16.793097 1.64 %
iShares Global Infrastructure Index ETF CIF 24.279240 2.75 %
CIF.A 24.267678 2.75 %
iShares Japan Fundamental Index ETF (CAD- Hedged) CJP 12.401447 0.00 %
CJP.A 12.165834 0.00 %
iShares 1-5 Year Laddered Government Bond Index ETF CLF 19.227833 0.00 %
CLF.A 19.180087 0.00 %
iShares 1-10 Year Laddered Government Bond Index ETF CLG 19.432732 0.00 %
CLG.A 19.395063 0.00 %
iShares Oil Sands Index ETF CLO 12.036471 0.00 %
CLO.A 11.929464 0.00 %
iShares US Fundamental Index ETF CLU 27.370647 3.61 %
CLU.A 27.143119 3.59 %
CLU.B 25.460562 8.32 %
CLU.C 25.658941 8.32 %
iShares Premium Money Market ETF CMR 50.003237 0.00 %
CMR.A 50.002321 0.00 %
iShares S&P/TSX Global Mining Index ETF CMW 13.081279 0.00 %
CMW.A 13.081488 0.00 %
iShares Global Agriculture Index ETF COW 30.070138 0.00 %
COW.A 29.480476 0.00 %
iShares S&P/TSX Canadian Preferred Share Index ETF CPD 16.303065 0.00 %
CPD.A 16.287027 0.00 %
iShares Canadian Fundamental Index ETF CRQ 14.065975 4.03 %
CRQ.A 14.005930 4.31 %
iShares Advantaged Short Duration High Income ETF (CAD-Hedged) CSD 19.900916 3.55 %
CSD.A 19.858712 3.25 %
iShares US Dividend Growers Index ETF (CAD-Hedged) CUD 31.923617 3.01 %
CUD.A 31.826493 3.13 %
iShares Convertible Bond Index ETF CVD 19.358373 1.78 %
CVD.A 19.344274 1.78 %
iShares Emerging Markets Fundamental Index ETF CWO 31.023107 0.00 %
CWO.A 30.875934 0.00 %
iShares Global Water Index ETF CWW 23.964022 0.00 %
CWW.A 23.951222 0.00 %
iShares Global Monthly Dividend Index ETF (CAD-Hedged) CYH 17.716489 0.00 %
CYH.A 17.667959 0.00 %
iShares Canadian Financial Monthly Income ETF FIE 7.402915 0.00 %
FIE.A 7.049483 0.00 %
iShares Silver Bullion ETF SVR 9.366833 0.00 %
SVR.C 7.403131 0.00 %
iShares Alternatives Completion Portfolio Builder Fund XAL 28.086225 0.00 %
iShares Canadian Universe Bond Index ETF XBB 30.987701 0.00 %
iShares S&P/TSX Global Base Metals Index ETF XBM 12.989277 1.67 %
iShares MSCI® Brazil Index ETF XBZ 13.501834 0.00 %
iShares Canadian Corporate Bond Index ETF XCB 21.265344 0.00 %
iShares S&P Global Consumer Discretionary Index ETF (CAD-Hedged) XCD 25.386695 0.00 %
iShares Canadian Growth Index ETF XCG 27.363983 0.00 %
iShares China Index ETF XCH 21.757014 0.00 %
iShares Conservative Core Portfolio Builder Fund XCR 23.555533 0.00 %
iShares S&P/TSX SmallCap Index ETF XCS 14.770154 5.41 %
iShares Canadian Value Index ETF XCV 24.078276 3.71 %
iShares Canadian Select Dividend Index ETF XDV 25.250516 0.77 %
iShares J.P. Morgan USD Emerging Markets Bond Index ETF (CAD-Hedged) XEB 21.715820 0.00 %
iShares Core MSCI Emerging Markets IMI Index ETF XEC 22.251246 0.01 %
iShares Core MSCI EAFE IMI Index ETF XEF 23.700168 3.56 %
iShares S&P/TSX Capped Energy Index ETF XEG 16.442806 6.99 %
iShares MSCI Europe IMI Index ETF (CAD-Hedged) XEH 20.008348 2.52 %
iShares Core S&P/TSX Composite High Dividend Index ETF XEI 22.551156 4.05 %
iShares MSCI Emerging Markets Index ETF XEM 26.855759 0.00 %
iShares Jantzi Social Index® ETF XEN 21.784826 0.00 %
iShares MSCI Europe IMI Index ETF XEU 19.303276 0.05 %
iShares S&P/TSX Capped Financials Index ETF XFN 31.607924 2.01 %
iShares Floating Rate Index ETF XFR 20.136167 0.00 %
iShares Canadian Government Bond Index ETF XGB 21.506216 0.00 %
iShares Global Completion Portfolio Builder Fund XGC 29.114427 0.00 %
iShares S&P/TSX Global Gold Index ETF XGD 8.395615 0.00 %
iShares S&P Global Industrials Index ETF (CAD-Hedged) XGI 25.119765 0.00 %
iShares Growth Core Portfolio Builder Fund XGR 26.940348 0.00 %
iShares Canadian HYBrid Corporate Bond Index ETF XHB 21.060922 0.00 %
iShares Global Healthcare Index ETF (CAD-Hedged) XHC 38.503207 0.00 %
iShares U.S. High Dividend Equity Index ETF (CAD-Hedged) XHD 25.329116 3.17 %
iShares U.S. High Yield Bond Index ETF (CAD-Hedged) XHY 21.528260 0.00 %
iShares Core S&P/TSX Capped Composite Index ETF XIC 23.147176 1.77 %
iShares India Index ETF XID 27.171461 0.00 %
iShares U.S. IG Corporate Bond Index ETF (CAD-Hedged) XIG 23.177353 0.00 %
iShares MSCI EAFE® Index ETF (CAD-Hedged) XIN 22.485214 0.00 %
iShares S&P/TSX Capped Information Technology Index ETF XIT 10.428657 0.00 %
iShares S&P/TSX 60 Index ETF XIU 21.407197 0.00 %
iShares Latin America Index ETF XLA 17.406595 0.00 %
iShares Core Canadian Long Term Bond Index ETF XLB 22.893393 0.00 %
iShares S&P/TSX Capped Materials Index ETF XMA 11.299876 0.00 %
iShares S&P/TSX Completion Index ETF XMD 24.280349 0.40 %
iShares MSCI EAFE Minimum Volatility Index ETF XMI 28.018868 0.00 %
iShares MSCI Emerging Markets Minimum Volatility Index ETF XMM 25.014062 0.00 %
iShares MSCI USA Minimum Volatility Index ETF XMU 30.269927 2.11 %
iShares MSCI Canada Minimum Volatility Index ETF XMV 25.930269 1.33 %
iShares MSCI All Country World Minimum Volatility Index ETF XMW 28.039044 0.00 %
iShares S&P/TSX North American Preferred Stock Index ETF (CAD-Hedged) XPF 19.781420 0.00 %
iShares Core High Quality Canadian Bond Index ETF XQB 20.519525 0.18 %
XQB.A 20.501712 0.00 %
iShares NASDAQ 100 Index ETF (CAD-Hedged) XQQ 34.623271 0.00 %
iShares Canadian Real Return Bond Index ETF XRB 24.123226 1.53 %
iShares S&P/TSX Capped REIT Index ETF XRE 16.596685 0.00 %
iShares Canadian Short Term Bond Index ETF XSB 28.533960 0.00 %
iShares Core Canadian Short Term Corporate + Maple Bond Index ETF XSH 19.795126 0.00 %
iShares Core S&P 500 Index ETF (CAD-Hedged) XSP 23.320705 0.00 %
iShares Core Short Term High Quality Canadian Bond Index ETF XSQ 19.987151 0.00 %
iShares S&P/TSX Capped Consumer Staples Index ETF XST 38.811772 0.43 %
iShares U.S. Small Cap Index ETF (CAD-Hedged) XSU 25.385077 0.00 %
iShares Diversified Monthly Income ETF XTR 12.141399 0.00 %
iShares Core S&P 500 Index ETF XUS 28.447630 0.00 %
iShares S&P/TSX Capped Utilities Index ETF XUT 20.390229 0.00 %
iShares S&P/TSX Venture Index ETF XVX 9.421475 0.00 %
iShares MSCI World Index ETF XWD 35.557167 0.27 %

Reasons for some of the larger estimated annual reinvested capital gains distributions are as follows:

CDZ

The iShares S&P/TSX Canadian Dividend Aristocrats Index ETF ("CDZ") experienced capital gains in 2014 primarily due to the appreciation of securities held in its portfolio, and realized on the sale of securities in connection with quarterly index rebalances. Some of the larger components of the gains were realized on the disposition of shares in AG Growth International Inc., Keyera Corp., and Constellation Software Inc.

CHB

The iShares Advantaged U.S. High Yield Bond Index ETF (CAD-Hedged) ("CHB") is expected to, and does, realize capital gains in connection with its legacy forward agreement through which it obtains exposure to its reference fund.

CLU

The iShares US Fundamental Index ETF experienced capital gains in 2014 primarily due to appreciation of securities held in its portfolio due to the strong performance of US equity markets, with gains realized on the sale of certain portfolio securities, such as Bank of America Corp., Sprint Corp., Rite Aid Corp., Wells Fargo and Co., and Exxon Mobil Corp. Gains in the currency hedged classes of units (CLU and CLU.A) were lower than those experienced in the non-hedged classes of units of the fund (CLU.B and CLU.C) due to the existence of realized losses on foreign currency hedging instruments in the currency hedged classes of units.

CRQ

The iShares Canadian Fundamental Index ETF ("CRQ") experienced capital gains in 2014 as a result of the appreciation of securities held in its portfolio, with gains realized on the sale of certain securities, such as Manulife Financial Corp., Magna International Inc., and Valeant Pharmaceuticals International Inc.

CSD

The iShares Advantaged Short Duration High Income ETF (CAD-Hedged) ("CSD") is expected to, and does, realize capital gains in connection with its legacy forward agreement through which it obtains exposure to its reference fund.

XCS

The iShares S&P/TSX Small Cap Index ETF ("XCS") realized capital gains in 2014 on the disposition of securities held as part of the normal course of operations, including index rebalances, for which there were embedded gains based on strong past performance.

XCV

The iShares Canadian Value Index ETF ("XCV") experienced capital gains in 2014 primarily due to the appreciation of securities held in its portfolio, and realized on the sale of securities in connection with semi-annual index rebalances. Some of the larger components of the gains were realized on the disposition of shares in Magna International Inc., Toronto Dominion Bank, and Royal Bank of Canada.

XEF

The iShares Core MSCI EAFE IMI Index ETF ("XEF") realized capital gains in 2014 in connection with changes implemented to its portfolio, which moved from a fund-of-fund investment to directly-held investments.

XEG

The iShares S&P/TSX Capped Energy Index ETF ("XEG") realized capital gains in 2014 on the disposition of securities held as part of the normal course of operations, including index rebalances, for which there were embedded gains based on strong past performance. Some of the larger components of the gains were realized on the disposition of shares in Suncor Energy Inc. and Canadian Natural Resources Limited.

XEI

The iShares Core S&P/TSX Composite High Dividend Index ETF ("XEI") experienced capital gains in 2014 primarily due to the appreciation of securities held in its portfolio, and realized on the sale of securities in connection with quarterly index rebalances. Some of the larger components of the gains were realized on the disposition of shares in Pembina Pipeline Corp., Vermilion Energy Inc., and Aimia Inc.

Further information on the iShares Funds can be found at www.blackrock.com/ca.

Forward-looking information

This notice contains forward-looking statements with respect to the annual reinvested capital gains 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 the estimated distributions set forth in this notice. Factors that could cause the actual distributions to differ from the estimated distributions between now and December 15, 2014 (the iShares Funds' tax year end) 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, 2014, BlackRock's AUM was US$4.525 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/ca / Twitter: @BlackRockCA / Blog: www.blackrockblog.com/can

About iShares ETFs

The iShares business is the global product leader in exchange traded funds with over 600 funds globally across equities, fixed income and commodities, which trade on 20 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 shares 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 high net worth individuals.

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. The funds are not guaranteed, their 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.

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