BlackRock(R) Announces Estimated 2010 Annual Capital Gains Distributions for the iShares(R) Funds
November 18 2010 - 3:36PM
Marketwired
(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.
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Estimated annual Net asset value Estimated annual
capital gain per (NAV) per unit at capital gain as % of
Ticker Symbol unit to Nov 5, 2010 Nov 5, 2010 NAV at Nov 5, 2010
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XAL 0.58140 25.84910 2.25%
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XBB 0.00480 30.24947 0.02%
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XBZ - 22.40272 0.00%
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XCB 0.25968 20.81168 1.25%
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XCG - 24.18493 0.00%
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XCH - 23.13985 0.00%
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XCR 0.54932 22.84191 2.40%
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XCS 0.81299 17.39162 4.67%
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XCV 0.10582 20.20261 0.52%
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XDV - 20.42482 0.00%
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XEG - 18.91591 0.00%
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XEM 0.00218 27.40925 0.01%
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XEN - 17.76657 0.00%
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XFN 0.17818 22.89998 0.78%
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XGB 0.05419 20.98225 0.26%
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XGC 0.18601 24.74516 0.75%
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XGD 0.57377 25.77221 2.23%
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XGR 0.47683 24.42215 1.95%
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XHB 0.00005 20.26151 0.00%
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XHY 0.02763 20.99554 0.13%
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XIC - 20.38509 0.00%
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XID - 25.42665 0.00%
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XIG 0.31805 21.42439 1.48%
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XIN - 18.27699 0.00%
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XIT - 7.07897 0.00%
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XIU - 18.59696 0.00%
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XLA - 23.36172 0.00%
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XLB - 20.90922 0.00%
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XMA - 22.84557 0.00%
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XMD - 22.24845 0.00%
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XRB 0.08265 22.11463 0.37%
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XRE 0.40131 14.03577 2.86%
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XSB - 29.15965 0.00%
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XSP 0.30294 14.07637 2.15%
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XSU - 16.03946 0.00%
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XTR - 12.18222 0.00%
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XWD 0.00636 23.47915 0.03%
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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.
Contacts: Contact for Media: Veritas Communications Lisa An
416-955-4587 or Cell: 647-292-2478 an@veritascanada.com
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