TORONTO, ONTARIO--(Marketwire - Feb. 17, 2012) - BlackRock Asset Management Canada Limited, an indirect, wholly owned subsidiary of BlackRock, Inc. (NYSE:BLK), announced today that prospectus disclosures related to the impact of U.S. withholding taxes on certain iShares funds have been updated. Section 871(k) of the U.S. tax code, which exempts certain cash distributions made by U.S. investment funds from U.S. withholding tax, has ceased applying for tax periods of the distributing U.S. investment fund beginning after December 31, 2011. As a result, the income earned by certain iShares funds may be subject to an increased overall level of U.S. withholding tax.
While the provisions of section 871(k) have historically been extended following their expiry, at this time the status of a possible extension is not certain.
Further information on iShares funds can be found at www.ishares.ca.
BlackRock is a leader in investment management, risk management and advisory services for institutional and retail clients worldwide. At December 31, 2011, BlackRock's AUM was US $3.513 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 December 31, 2011, the firm has approximately 10,100 employees in 27 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(R) ETFs
The iShares business is a global product leader in ETFs 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 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 and individual investors.