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Press release from Business Wire

iShares 2012 S&P AMT-Free Municipal Series ETF Nears Maturity Date ETF Shareholders to Receive Payout in August

<p class='bwalignc'> <b>iShares Plans to Extend the Municipal Series with 2018 and 2019 ETFs</b> </p>

Friday, June 22, 2012

iShares 2012 S&P AMT-Free Municipal Series ETF Nears Maturity Date ETF Shareholders to Receive Payout in August08:11 EDT Friday, June 22, 2012 SAN FRANCISCO (Business Wire) -- iShares® announced today that the iShares 2012 S&P AMT-Free Municipal Series ETF (NYSE: MUAA) will mature on August 15, 2012. Individual bonds in the exchange traded fund (ETF) have begun to mature and the fund will transition into short-term, tax-exempt instruments and cash until August 15, when the ETF will close and cease trading at the end of the day. Remaining shareholders will receive the entire amount of their proceeds in cash on or after August 21, subject to their brokerage processes. The iShares 2012 S&P AMT-Free Municipal Series ETF is the first iShares Municipal Series ETF to mature. The other five iShares ETFs in the series have end dates ranging from 2013 to 2017. iShares has filed registration statements with the U.S. Securities and Exchange Commission (SEC) that would expand the suite of iShares S&P AMT-Free Municipal Series ETFs to include funds with 2018 and 2019 end dates. These funds are pending SEC review and therefore are not yet available to the public. “The iShares S&P AMT-Free Muni Series was created to offer investors a bond-like experience, via a tradeable ETF. Fund shareholders receive monthly income distributions and a maturity distribution with the added benefits found in the ETF structure, such as a diversified portfolio of bonds, transparency of holdings and pricing, and trading flexibility,” said Matthew Tucker, Head of iShares Fixed Income Strategy at BlackRock. “As the iShares 2012 Municipal Series ETF is the first of the series to reach maturity, we plan to introduce additional ETFs to the iShares series.” About the iShares S&P AMT-Free Municipal Series The six existing 2012 - 2017 iShares S&P AMT-Free Municipal Series funds are designed to offer investors access to benefits of both ETFs and bonds. As an ETF, each fund contains a diversified set of securities tracking the S&P AMT-Free Municipal Series 2012 Index, and can be bought and sold daily on an exchange. Like a bond, each fund has a pre-determined date when the fund will close and distribute all proceeds out to shareholders. The funds are designed to provide a yield to maturity (YTM) profile comparable to that of the underlying bond portfolio. Editor's Note: iShares 2012 S&P AMT-Free Municipal Series Product Page (with FAQ) http://us.ishares.com/product_info/fund/overview/MUAA.htm About BlackRock BlackRock is a leader in investment management, risk management and advisory services for institutional and retail clients worldwide. At March 31, 2012, BlackRock's AUM was $3.684 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 March 31, 2012, the firm has approximately 9,900 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 iShares is the global product leader in exchange traded funds with over 500 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. 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, which may be obtained by calling 1-800-iShares (1-800-474-2737) or by visiting www.iShares.com. Read the prospectus carefully before investing.Investing involves risk, including possible loss of principal. Transactions in shares of the iShares Funds will result in brokerage commissions and will generate tax consequences. iShares Funds are obliged to distribute portfolio gains to shareholders. Shares of the iShares Funds may be sold throughout the day on the exchange through any brokerage account. However, shares may only be redeemed directly from a Fund by Authorized Participants, in very large creation/redemption units. Bonds and bond funds will decrease in value as interest rates rise. A portion of the Fund's income may be subject to federal or state income taxes. Capital gains, if any, are subject to capital gains tax. Narrowly focused investments typically exhibit higher volatility and are subject to greater geographic or asset class risk. The Fund is subject to credit risk, which refers to the possibility that the debt issuers will not be able to make principal and interest payments. Shares of the Fund trade at market price, which may be greater or less than net asset value. An investment in the Fund(s) is not guaranteed, and an investor may experience losses, including near or at the termination date. In the final months of the Fund's operation, as the bonds it holds mature, its portfolio will transition to cash and cash-like instruments. Following the Fund's termination date, the Fund will distribute substantially all of its net assets, after deduction of any liabilities, to then-current investors without further notice and will no longer be listed or traded. The Funds do not seek to return any predetermined amount. During the final three months prior to the Fund's planned termination date, its yield will generally tend to move toward prevailing tax-exempt money market rates, and may be lower than the yields of the bonds previously held by the Fund and lower than prevailing yields for bonds in the market. The rate of Fund distribution payments may adversely affect the tax characterization of an investor's returns from an investment in the Fund relative to a direct investment in municipal bonds. If the amount an investor receives as liquidation proceeds upon the Fund's termination is higher or lower than the investor's cost basis, the investor may experience a gain or loss for tax purposes. The iShares Funds are distributed by BlackRock Investments, LLC (together with its affiliates, “BlackRock”). iS-7517-0612 The iShares Funds are not sponsored, endorsed, issued, sold or promoted by Standard & Poor's, nor does this company make any representation regarding the advisability of investing in the Funds. BlackRock is not affiliated with the company listed above. * Not FDIC Insured * No Bank Guarantee * May Lose Value BlackRock, Inc.Christine Hudacko, 415-670-2687christine.hudacko@blackrock.comDiane Henry, 415-670-4567diane.henry@blackrock.com