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iBoxx corporate bond ETF to reflect index changes


Markit Group is making changes to the methodology of the iBoxx USD Liquid Investment Grade Index.

Barclays Global Fund Advisors intends to continue to manage the iShares iBoxx USD Investment Grade Corporate Bond Fund so as to seek investment results that correspond generally to the price and yield performance, before fees and expenses, of the U. dollar denominated investment grade corporate bond market as defined by the iBoxx USD Liquid Investment Grade Index.

BGFA also intends to manage the fund in a manner designed to minimize turnover and maximize cost- and tax-efficiencies.

The index methodology change is expected to take effect at the index’s 30 September 2009 rebalancing, and to be completed over a three month period.

"We believe that the new methodology will provide investors with a more accurate reflection of the broad, liquid universe of the investment grade corporate bond market," says Noel Archard, head of US iShares product research and development. "During and subsequent to the index transition period, we expect the iShares iBoxx USD Investment Grade Corporate Bond Fund to continue to provide liquidity and tight bid/ask spreads."

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