iShares Announces Launch of New iShares Russia Exchange Traded Fund
SAN FRANCISCO, November 10, 2010—BlackRock, Inc. (NYSE: BLK) today announced that the iShares Exchange Traded Funds (ETFs) business, the world's largest manager of ETFs, launched the new iShares MSCI Russia Capped Index Fund (ERUS) on the NYSE Arca. The new fund launch completes the suite of iShares BRIC single country funds. In addition, with the launch today, the iShares international single country offering includes nearly 40 ETFs and 19 dedicated to emerging countries.
"The new iShares MSCI Russia Capped Index Fund offers greater precision and access to the 12th largest economy in the world1," said Noel Archard, Head of US Product at iShares, BlackRock. "The new iShares fund further enhances our large single country iShares ETF lineup to respond to requests from financial advisors and investors for greater precision in implementing their international-focused investment strategies and interest in getting deeper access to emerging market stocks to help diversify portfolios."
The iShares MSCI Russia Capped Index Fund seeks to track the MSCI Russia 25/50 Index, which is a free-float adjusted market capitalization weighted index designed to measure the performance of equity securities listed on stock exchanges in Russia. The benchmark index is a customized variation of the MSCI Russia Index, designed to cap certain weightings to take into account the investment diversification requirement applicable to U.S. regulated investment companies. The top three sectors in the index as of October 15, 2010, are Energy (50.7%), Materials (18.4%) and Financials (14.5%).
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 $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: iShares is the global product leader in exchange traded funds with over 460 funds globally across equities, fixed income and commodities, which trade on 19 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.
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, which may be obtained by calling 1-800-iShares (1-800-474-2737) or by visiting www.iShares.com. Read the prospectus carefully before investing.
Investing involves risk, including possible loss of principal. In addition to the normal risks associated with investing, international investments may involve risk of capital loss from unfavorable fluctuation in currency values, from differences in generally accepted accounting principles or from economic or political instability in other nations. Emerging markets involve heightened risks related to the same factors as well as increased volatility and lower trading volume. Narrowly focused investments and securities focusing on a single country typically exhibit higher volatility. Diversification may not protect against market risk.
Transactions in shares of the iShares Funds will result in brokerage commissions and will generate tax consequences. iShares Funds are obliged to distribute portfolio gains to shareholders. Shares of the iShares Funds may be sold throughout the day on the exchange through any brokerage account. However, shares may only be redeemed directly from a Fund by Authorized Participants, in very large creation/redemption units.
The iShares Funds ("Funds") are distributed by SEI Investments Distribution Co. ("SEI"). BlackRock Fund Advisors ("BFA") serves as the investment advisor to the Funds. BlackRock Fund Distribution Company ("BFDC") assists in the marketing of the Funds. BFA and BFDC are affiliates of BlackRock, Inc., none of which is affiliated with SEI.
The iShares Funds are not sponsored, endorsed, issued, sold or promoted by MSCI Inc., nor does this company make any representation regarding the advisability of investing in the Funds. Neither SEI, nor BlackRock Institutional Trust Company, N.A., nor any of their affiliates, are affiliated with the company listed above.
©2010 BlackRock Institutional Trust Company, N.A. iShares® is a registered trademark of BlackRock Institutional Trust Company, N.A. All other trademarks, servicemarks or registered trademarks are the property of their respective owners.
* Not FDIC Insured * No Bank Guarantee * May Lose Value
1Source: Russia is the 12th largest economy in the world by 2009 nominal GDP, according to the IMF
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