BlackRock Announces Estimated 2013 Annual Capital Gains Distributions for the iShares(R) Funds
November 19 2013 - 4:19PM
Marketwired Canada
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BlackRock Asset Management Canada Limited ("BlackRock Canada"), an indirect,
wholly owned subsidiary of BlackRock, Inc. (NYSE:BLK), today announced the
estimated annual capital gains distributions for the iShares(R) Funds listed
below for the 2013 tax year. Please note that these are estimated amounts only
as of November 6, 2013 and reflect forward-looking information which may cause
the estimates to change before the Funds' December 15, 2013 tax year-end.
These estimates are for the year-end capital gains distributions only, which are
typically reinvested in additional units of the respective funds rather than
paid in cash, and do not include estimates of ongoing monthly, quarterly, or
semi-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 year-end distribution amounts, as well as the
monthly, quarterly, and semi-annual cash distribution amounts, on or about
December 18, 2013. The ex-dividend date for the 2013 annual distributions will
be December 27, 2013. The record date for the 2013 annual distributions will be
December 31, 2013, payable on January 6, 2014. The actual taxable amounts of
reinvested and cash distributions for 2013, including the tax characteristics of
the distributions, will be reported to brokers (through CDS Clearing and
Depository Services Inc. or "CDS") in early 2014.
----------------------------------------------------------------------------
Estimated
annual
Net asset capital gain
value (NAV) as % of NAV
Fund per unit at at Nov 6,
Fund Name Ticker Nov 6, 2013 2013
----------------------------------------------------------------------------
iShares Advantaged Canadian Bond
Index Fund CAB 20.04476 0.00(i)%
-----------------------------------------
CAB.A 20.02108 0.00(i)%
----------------------------------------------------------------------------
iShares Balanced Income
CorePortfolio(TM) Fund CBD 20.41551 4.84%
-----------------------------------------
CBD.A 20.35869 5.00%
----------------------------------------------------------------------------
iShares 1-10 Year Laddered
Corporate Bond Index Fund CBH 19.67521 0.00%
-----------------------------------------
CBH.A 19.66765 0.00%
----------------------------------------------------------------------------
iShares Balanced Growth
CorePortfolio(TM) Fund CBN 17.09755 0.73%
-----------------------------------------
CBN.A 17.26614 0.00%
----------------------------------------------------------------------------
iShares 1-5 Year Laddered Corporate
Bond Index Fund CBO 19.76598 0.00%
-----------------------------------------
CBO.A 19.76147 0.00%
----------------------------------------------------------------------------
iShares BRIC Index Fund CBQ 24.21572 0.00%
-----------------------------------------
CBQ.A 24.36223 0.00%
----------------------------------------------------------------------------
iShares Broad Commodity Index ETF
(CAD-Hedged) CBR 21.1857 0.00%
-----------------------------------------
CBR.A 20.66797 0.00%
----------------------------------------------------------------------------
iShares S&P(R)/TSX(R) Canadian
Dividend Aristocrats Index Fund CDZ 24.06353 0.00%
-----------------------------------------
CDZ.A 23.98343 0.00%
----------------------------------------------------------------------------
iShares Equal Weight Banc & Lifeco
ETF CEW 9.411844 0.00%
-----------------------------------------
CEW.A 7.684738 0.00%
----------------------------------------------------------------------------
iShares Global Real Estate Index
Fund CGR 21.0553 0.00%
-----------------------------------------
CGR.A 21.03178 0.00%
----------------------------------------------------------------------------
iShares Gold Bullion ETF CGL 11.74916 0.00%
-----------------------------------------
CGL.C 12.33293 0.00%
----------------------------------------------------------------------------
iShares Advantaged U.S. High Yield
Bond Index Fund (CAD-Hedged) CHB 21.08602 0.00%
-----------------------------------------
CHB.A 21.052 0.00%
----------------------------------------------------------------------------
iShares China All-Cap Index Fund CHI 20.40538 0.00%
-----------------------------------------
CHI.A 19.88002 0.00%
----------------------------------------------------------------------------
iShares International Fundamental
Index Fund CIE 15.94095 0.00%
-----------------------------------------
CIE.A 15.99048 0.00%
----------------------------------------------------------------------------
iShares Global Infrastructure Index
Fund CIF 21.74975 2.66%
-----------------------------------------
CIF.A 21.81972 2.66%
----------------------------------------------------------------------------
iShares Japan Fundamental Index
Fund (CAD-Hedged) CJP 11.15991 0.00%
-----------------------------------------
CJP.A 10.98093 0.00%
----------------------------------------------------------------------------
iShares 1-5 Year Laddered
Government Bond Index Fund CLF 19.46551 0.00%
-----------------------------------------
CLF.A 19.44889 0.00%
----------------------------------------------------------------------------
iShares 1-10 Year Laddered
Government Bond Index Fund CLG 19.3468 0.00%
-----------------------------------------
CLG.A 19.34222 0.00%
----------------------------------------------------------------------------
iShares Oil Sands Index Fund CLO 12.60716 0.00%
-----------------------------------------
CLO.A 12.5131 0.00%
----------------------------------------------------------------------------
iShares US Fundamental Index Fund CLU 24.25808 1.84%
-----------------------------------------
CLU.A 24.10995 1.84%
-----------------------------------------
CLU.B 21.06216 1.84%
-----------------------------------------
CLU.C 21.15156 1.84%
----------------------------------------------------------------------------
iShares Managed Futures Index ETF CMF 20.38996 0.00%
-----------------------------------------
CMF.A 20.0877 0.00%
----------------------------------------------------------------------------
iShares Premium Money Market ETF CMR 50.01004 0.00%
-----------------------------------------
CMR.A 50.00648 0.00%
----------------------------------------------------------------------------
iShares S&P/TSX Global Mining Index
Fund CMW 14.88458 0.00%
-----------------------------------------
CMW.A 14.89838 0.00%
----------------------------------------------------------------------------
iShares Global Agriculture Index
Fund COW 26.24971 0.00%
-----------------------------------------
COW.A 25.75918 0.00%
----------------------------------------------------------------------------
iShares S&P/TSX Canadian Preferred
Share Index Fund CPD 16.18272 0.00%
-----------------------------------------
CPD.A 16.16198 0.00%
----------------------------------------------------------------------------
iShares Canadian Fundamental Index
Fund CRQ 13.23491 3.01%
-----------------------------------------
CRQ.A 13.20033 2.29%
----------------------------------------------------------------------------
iShares Advantaged Short Duration
High Income ETF CSD 20.2522 0.00%
-----------------------------------------
CSD.A 20.22333 0.00%
-----------------------------------------
CSD.U 20.40636 0.00%
-----------------------------------------
CSD.V 20.37546 0.00%
----------------------------------------------------------------------------
iShares S&P US Dividend Growers
Index Fund (CAD-Hedged) CUD 29.13678 1.01%
-----------------------------------------
CUD.A 29.10412 0.87%
----------------------------------------------------------------------------
iShares Advantaged Convertible Bond
Index Fund CVD 19.20124 0.00%
-----------------------------------------
CVD.A 19.19347 0.00%
----------------------------------------------------------------------------
iShares Emerging Markets
Fundamental Index ETF CWO 29.73267 0.00%
-----------------------------------------
CWO.A 29.66773 0.00%
----------------------------------------------------------------------------
iShares S&P Global Water Index Fund CWW 20.86683 0.00%
-----------------------------------------
CWW.A 20.91361 0.00%
----------------------------------------------------------------------------
iShares Global Monthly Advantaged
Dividend Index Fund CYH 16.95068 0.00(i)%
-----------------------------------------
CYH.A 16.91577 0.00(i)%
----------------------------------------------------------------------------
iShares Canadian Financial Monthly
Income ETF FIE 7.069559 0.00%
-----------------------------------------
FIE.A 6.807183 0.00%
----------------------------------------------------------------------------
iShares Silver Bullion ETF SVR 12.74602 0.00%
-----------------------------------------
SVR.C 9.309728 0.00%
----------------------------------------------------------------------------
iShares Alternatives Completion
Portfolio Builder Fund XAL 26.61613 0.00%
----------------------------------------------------------------------------
iShares DEX Universe Bond Index
Fund XBB 30.17465 0.13%
----------------------------------------------------------------------------
iShares S&P/TSX Global Base Metals
Index Fund XBM 13.09284 0.00%
----------------------------------------------------------------------------
iShares MSCI(R) Brazil Index Fund XBZ 13.99258 0.00%
----------------------------------------------------------------------------
iShares DEX All Corporate Bond
Index Fund XCB 20.85793 0.27%
----------------------------------------------------------------------------
iShares S&P Global Consumer
Discretionary Index Fund (CAD-
Hedged) XCD 23.95832 0.00%
----------------------------------------------------------------------------
iShares Dow Jones Canada Select
Growth Index Fund XCG 23.10894 0.00%
----------------------------------------------------------------------------
iShares China Index Fund XCH 18.7555 0.00%
----------------------------------------------------------------------------
iShares Conservative Core Portfolio
Builder Fund XCR 22.5206 0.00%
----------------------------------------------------------------------------
iShares S&P/TSX SmallCap Index Fund XCS 14.92018 0.00%
----------------------------------------------------------------------------
iShares Dow Jones Canada Select
Value Index Fund XCV 22.51473 3.33%
----------------------------------------------------------------------------
iShares Dow Jones Canada Select
Dividend Index Fund XDV 23.96644 0.55%
----------------------------------------------------------------------------
iShares J.P. Morgan USD Emerging
Markets Bond Index Fund (CAD-
Hedged) XEB 20.77843 0.00%
----------------------------------------------------------------------------
iShares MSCI Emerging Markets IMI
ETF XEC 20.41357 0.00%
----------------------------------------------------------------------------
iShares MSCI EAFE IMI Index ETF XEF 22.71046 0.00%
----------------------------------------------------------------------------
iShares S&P/TSX Capped Energy Index
Fund XEG 16.70281 0.00%
----------------------------------------------------------------------------
iShares S&P/TSX Equity Income Index
Fund XEI 21.35112 4.11%
----------------------------------------------------------------------------
iShares MSCI Emerging Markets Index
Fund XEM 24.7932 0.00%
----------------------------------------------------------------------------
iShares Jantzi Social Index(R) Fund XEN 19.64554 0.00%
----------------------------------------------------------------------------
iShares S&P/TSX Capped Financials
Index Fund XFN 28.34129 0.00%
----------------------------------------------------------------------------
iShares DEX Floating Rate Note
Index Fund XFR 20.14382 0.03%
----------------------------------------------------------------------------
iShares DEX All Government Bond
Index Fund XGB 20.8775 0.39%
----------------------------------------------------------------------------
iShares Global Completion Portfolio
Builder Fund XGC 27.26373 0.38%
----------------------------------------------------------------------------
iShares S&P/TSX Global Gold Index
Fund XGD 11.05946 0.00%
----------------------------------------------------------------------------
iShares S&P Global Industrials
Index Fund (CAD-Hedged) XGI 22.98575 0.00%
----------------------------------------------------------------------------
iShares Growth Core Portfolio
Builder Fund XGR 25.36794 0.47%
----------------------------------------------------------------------------
iShares DEX HYBrid Bond Index Fund XHB 20.61368 0.00%
----------------------------------------------------------------------------
iShares S&P Global Healthcare Index
Fund (CAD-Hedged) XHC 30.94391 0.00%
----------------------------------------------------------------------------
iShares U.S. High Dividend Equity
Index Fund (CAD-Hedged) XHD 23.15289 0.50%
----------------------------------------------------------------------------
iShares U.S. High Yield Bond Index
Fund (CAD-Hedged) XHY 21.57569 0.00%
----------------------------------------------------------------------------
iShares S&P/TSX Capped Composite
Index Fund XIC 21.11969 0.25%
----------------------------------------------------------------------------
iShares CNX Nifty India Index ETF XID 18.29399 0.00%
----------------------------------------------------------------------------
iShares U.S. IG Corporate Bond
Index Fund (CAD-Hedged) XIG 22.18756 0.00%
----------------------------------------------------------------------------
iShares MSCI EAFE Index Fund (CAD-
Hedged) XIN 21.48243 0.00%
----------------------------------------------------------------------------
iShares S&P/TSX Capped Information
Technology Index Fund XIT 7.87778 0.00%
----------------------------------------------------------------------------
iShares S&P/TSX 60 Index Fund XIU 19.33832 0.00%
----------------------------------------------------------------------------
iShares S&P Latin America 40 Index
Fund XLA 17.27734 0.00%
----------------------------------------------------------------------------
iShares DEX Long Term Bond Index
Fund XLB 21.3383 0.00%
----------------------------------------------------------------------------
iShares S&P/TSX Capped Materials
Index Fund XMA 12.83494 0.00%
----------------------------------------------------------------------------
iShares S&P/TSX Completion Index
Fund XMD 22.8333 0.00%
----------------------------------------------------------------------------
iShares MSCI EAFE Minimum
Volatility Index Fund XMI 25.03457 0.04%
----------------------------------------------------------------------------
iShares MSCI Emerging Markets
Minimum Volatility Index Fund XMM 22.84329 0.21%
----------------------------------------------------------------------------
iShares MSCI USA Minimum Volatility
Index Fund XMU 24.93268 0.89%
----------------------------------------------------------------------------
iShares MSCI Canada Minimum
Volatility Index Fund XMV 23.23846 0.08%
----------------------------------------------------------------------------
iShares MSCI All Country World
Minimum Volatility Index Fund XMW 24.23479 0.00%
----------------------------------------------------------------------------
iShares S&P/TSX North American
Preferred Stock Index Fund (CAD-
Hedged) XPF 19.17173 0.00%
----------------------------------------------------------------------------
iShares NASDAQ 100 Index Fund (CAD-
Hedged) XQQ 28.1269 0.00%
----------------------------------------------------------------------------
iShares DEX Real Return Bond Index
Fund XRB 22.65048 3.51%
----------------------------------------------------------------------------
iShares S&P/TSX Capped REIT Index
Fund XRE 15.23496 5.73%
----------------------------------------------------------------------------
iShares DEX Short Term Bond Index
Fund XSB 28.60864 0.00%
----------------------------------------------------------------------------
iShares DEX Short Term Corporate
Universe + Maple Bond Index Fund XSH 19.82266 0.00%
----------------------------------------------------------------------------
iShares S&P 500 Index Fund (CAD-
Hedged) XSP 20.37986 0.00%
----------------------------------------------------------------------------
iShares S&P/TSX Capped Consumer
Staples Index Fund XST 30.94612 0.38%
----------------------------------------------------------------------------
iShares Russell 2000(R) Index Fund
(CAD-Hedged) XSU 23.63482 0.00%
----------------------------------------------------------------------------
iShares Diversified Monthly Income
Fund XTR 12.01752 0.00%
----------------------------------------------------------------------------
iShares S&P 500 Index ETF XUS 23.04065 0.00%
----------------------------------------------------------------------------
iShares S&P/TSX Capped Utilities
Index Fund XUT 19.39598 0.25%
----------------------------------------------------------------------------
iShares S&P/TSX Venture Index Fund XVX 12.00968 0.00%
----------------------------------------------------------------------------
iShares MSCI World Index Fund XWD 30.88266 0.00%
----------------------------------------------------------------------------
(i)Additional capital gains distributions will be made on the CAB, CAB.A, CYH
and CYH.A units, as discussed below.
Reasons for some of the larger estimated capital gains distributions are as follows:
XRE
The iShares S&P/TSX Capped REIT Index Fund's ("XRE") capital gains are largely
the result of the acquisition of Primaris Real Estate Investment Trust by H&R
Real Estate Investment Trust during the year, which led to the realization of
capital gains embedded in the Primaris position held by the fund.
XEI
The iShares S&P/TSX Equity Income Index Fund ("XEI") experienced capital gains
in 2013 primarily due to the appreciation of securities held in its portfolio,
and realized on the sale of securities in connection with the quarterly index
rebalances. Some of the larger contributors to the gain were realized on the
disposition of shares in Thomson Reuters Corp., Shaw Communications Inc. B,
Husky Energy Inc., Cineplex Inc., and Bank of Nova Scotia.
CBD
The iShares Balanced Income CorePortfolio(TM) Fund ("CBD") experienced capital
gains in 2013 in part due to the appreciation of securities held in its
portfolio. Gains were also realized on the fund's holding of the iShares Global
Monthly Advantaged Dividend Index Fund ("CYH"). See below for further details on
CYH's distributions.
XRB
The iShares DEX Real Return Bond Index Fund ("XRB") realized capital gains in
2013 on the disposition of securities held as part of the normal course of
operations for which there were embedded gains based on strong past performance.
Forward-using iShares ETFs:
CYH, CAB, CBR, CHB, CMF, CSD and CVD
On September 17, 2013, BlackRock Canada announced changes to seven forward-using
iShares Funds in response to proposed new federal taxation rules that would deem
gains on the settlement of certain forward agreements to be included in ordinary
income rather than treated as capital gains.
As disclosed in a press release issued earlier today, each of the iShares Global
Monthly Advantaged Dividend Index Fund ("CYH") and the iShares Advantaged
Canadian Bond Index Fund ("CAB") experienced significant capital gains in 2013
due primarily to the appreciation in value of their respective reference
portfolios that were realized upon the termination of the respective funds'
forward agreements, which occurred in the fourth quarter of 2013 as part of the
changes to the funds. As a result, CYH and CAB will make special capital gains
distributions to unitholders on record as-of November 28, 2013.
BlackRock Canada does not expect that there will be year-end capital gain
distributions for iShares Broad Commodity Index Fund (CAD-Hedged) ("CBR"),
iShares Advantaged U.S. High Yield Bond Index Fund ("CHB"), iShares Managed
Futures Index Fund ("CMF"), iShares Advantaged Short Duration High Income ETF
("CSD") and iShares Advantaged Convertible Bond Index Fund ("CVD") as a result
of the changes to the funds. BlackRock Canada does expect, however, that for the
forward-using iShares ETFs, regular cash distributions made during 2013 will be
characterized as capital gains.
Certain considerations pertaining to the tax treatment of each of the
forward-using iShares ETFs and its forward agreement(s) are set out in the
fund's prospectus. As described above, the termination of a fund's forward
agreement, will have the effect of realizing certain of these tax consequences.
Unitholders should consult their own tax advisors about the consequences in
their particular circumstances.
Forward-looking information
This notice contains forward-looking statements with respect to the 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 the estimated annual distributions set
forth in this notice. Factors that could cause the actual distributions to
differ from the estimated distributions between now and December 15, 2013 (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.
Further information on iShares Funds can be found at www.iShares.ca.
About BlackRock
BlackRock is a leader in investment management, risk management and advisory
services for institutional and retail clients worldwide. At September 30, 2013,
BlackRock's AUM was US$4.096 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(R) (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(R). Headquartered in New
York City, as of September 30, 2013, the firm has approximately 11,200 employees
in 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.
About iShares ETFs
iShares 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(R) 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 ETFs
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.
(C) 2013 BlackRock Asset Management Canada Limited. All rights reserved.
iSHARES(R) and BLACKROCK(R) are registered trademarks of BlackRock, Inc., or its
subsidiaries in the United States and elsewhere. Used with permission.
FOR FURTHER INFORMATION PLEASE CONTACT:
Contact for Media:
Veritas Communications
Maeve Hannigan
T - 416-955-4570
C - 647-618-8621
hannigan@veritasinc.com
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