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BlackRock® Canada Announces Voting Results from Special Meeting of the iShares Premium Money Market ETF

1. BlackRock Canada adjusts iShares Premium Money Market ETF's investment objective. 2. New objective permits investments in asset-backed commercial paper. 3. Objective aims for maximum current income while preserving capital. 4. Effective date for changes is February 7, 2025. 5. iShares manages over $4.2 trillion in assets, enhancing investor opportunity.

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Why Bullish?

The change could lead to increased investor interest and inflows into related ETFs, boosting BlackRock's overall asset management business and revenues. Similar past ETF adjustments have positively influenced stock performance.

How important is it?

The adjustment of investment objectives can significantly affect fund performance and inflow metrics, influencing investor sentiment towards BlackRock stock.

Why Short Term?

Financial markets often react quickly to ETF announcements, with an immediate impact on BlackRock's share price. This contrasts with longer-term effects dependent on broader market conditions.

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BLKiShares ETF
TORONTO, Feb. 03, 2025 (GLOBE NEWSWIRE) -- BlackRock Asset Management Canada Limited (“BlackRock Canada”), an indirect, wholly-owned subsidiary of BlackRock, Inc. (“BlackRock”) (NYSE: BLK), is pleased to announce that at a special meeting of the iShares Premium Money Market ETF (the “iShares Fund”) held today, unitholders approved the proposal to change the investment objective of the iShares Fund to permit investments in asset-backed commercial paper (the “Proposal”). Following the implementation of the Proposal, the new investment objective of the iShares Fund will be as follows: CMR’s investment objective is to maximize current income to the extent consistent with the preservation of capital and liquidity by investing in high-quality, short-term (generally less than 90 days), investment grade debt securities, including treasury bills and promissory notes issued or guaranteed by Canadian governments or their agencies, bankers’ acceptances, asset-backed commercial paper, and commercial paper issued by Canadian chartered banks, loan companies, trust companies and corporations. The change in investment objective will be effective as of February 7, 2025. For more information about the iShares Fund, please visit www.blackrock.com/ca. About BlackRock BlackRock’s purpose is to help more and more people experience financial well-being. As a fiduciary to investors and a leading provider of financial technology, we help millions of people build savings that serve them throughout their lives by making investing easier and more affordable. For additional information on BlackRock, please visit www.blackrock.com/corporate. About iShares iShares unlocks opportunity across markets to meet the evolving needs of investors. With more than twenty years of experience, a global line-up of 1500+ exchange traded funds (ETFs) and US$4.2 trillion in assets under management as of December 31, 2024, iShares continues to drive progress for the financial industry. iShares funds are powered by the expert portfolio and risk management of BlackRock. iShares® ETFs are managed by BlackRock Asset Management Canada Limited. Commissions, trailing commissions, management fees and expenses all may be associated with investing in iShares ETFs. 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. Contact for Media: Sydney Punchard Email: Sydney.Punchard@blackrock.com

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