NEW YORK--(BUSINESS WIRE)--BlackRock (NYSE: BLK) announces that the Board of Trustees of iShares Trust has authorized a share split for iShares California Muni Bond ETF (CMF) and iShares New York Muni Bond ETF (NYF).
The Board has approved a 2-for-1 split for these funds for shareholders of record as of the close of business on October 13, 2017, payable after the close of trading on October 17, 2017. The 2-for-1 split will lower the share price and increase the number of outstanding shares. The total value of shares outstanding is not affected by the split.
|Fund Name||Ticker||Inception Date||NAV/Share||Proposed Forward|
|(as of 09/29/17)||Split Ratio|
|iShares California Muni Bond ETF||CMF||10/04/2007||$118.28||2 for 1|
|iShares New York Muni Bond ETF||NYF||10/04/2007||$111.73||2 for 1|
BlackRock is a global leader in investment management, risk management and advisory services for institutional and retail clients. At June 30, 2017, BlackRock’s AUM was $5.68 trillion1. BlackRock helps clients around the world meet their goals and overcome challenges with a range of products that include 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®. As of June 30, 2017, the firm had approximately 13,000 employees in more than 30 countries and a major presence in 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 | Twitter: @blackrock_news | Blog: www.blackrockblog.com | LinkedIn: www.linkedin.com/company/blackrock
iShares® is a global leader in exchange-traded funds (ETFs), with more than a decade of expertise and commitment to individual and institutional investors of all sizes. With over 700 funds globally across multiple asset classes and strategies and more than $1.5 trillion in assets under management as of June 30, 2017, iShares helps clients around the world build the core of their portfolios, meet specific investment goals and implement market views. iShares funds are powered by the expert portfolio and risk management of BlackRock, trusted to manage more money than any other investment firm1.
1 Based on $5.68 trillion in AUM as of 6/30/17
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 or, if available, the summary prospectuses which may be obtained by visiting www.iShares.com or www.blackrock.com. Read the prospectus carefully before investing.
Investing involves risk, including possible loss of principal.
The iShares Funds are distributed by BlackRock Investments, LLC (together with its affiliates, “BlackRock”).
Fixed income risks include interest-rate and credit risk. Typically, when interest rates rise, there is a corresponding decline in bond values. Credit risk refers to the possibility that the bond issuer will not be able to make principal and interest payments. There may be less information on the financial condition of municipal issuers than for public corporations. The market for municipal bonds may be less liquid than for taxable bonds. Some investors may be subject to federal or state income taxes or the Alternative Minimum Tax (AMT). Capital gains distributions, if any, are taxable.
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