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iShares completes shareholder proxy campaign

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BlackRock’s iShares product range has completed the proxy campaign to seek shareholder approval of the new investment advisory agreement for 179 US registered iShares funds.

In connection with BlackRock’s acquisition of Barclays Global Fund Advisors, adviser to the iShares funds, shareholders had to approve a new investment advisory agreement with BlackRock for the iShares funds.

Shareholder approval of the new investment advisory agreement was recently received for the last of the 179 US registered iShares funds.

The final two iShares funds in the campaign, the iShares S&P Global Consumer Discretionary Sector Index Fund and iShares S&P Global Financials Sector Index Fund, received shareholder approval at the meeting held on 28 January 2010.

"We want to thank our shareholders and distribution partners for their support throughout this important proxy campaign," says Michael Latham, head of US iShares, BlackRock. "Shareholder approval of the new advisory agreement is a vote of confidence in the strength of the new BlackRock."

iShares was assisted in the campaign by two proxy solicitation firms, Broadridge Financial Solutions and D.F. King.

With the completion of the campaign, shareholders in each of the 179 US registered iShares funds have approved the new investment advisory agreement.

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