BlackRock Asset Management Canada has reopened three iShares exchange-traded funds having completed changes to their respective investment strategies.
On 17 September, BlackRock announced certain changes to CSD, CHB, CBR and other iShares ETFs managed by BlackRock Canada that use forward agreements for certain investment purposes, in response to proposed new federal taxation rules first introduced in conjunction with the 2013 Federal Budget.
Following the initial announcement of these proposed rules, CSD, CHB and CBR had temporarily stopped accepting subscriptions, except in certain limited circumstances.
Effective as of 10 December 2013, CSD, CHB and CBR will be re-opened to new subscriptions in connection with the implementation of the previously announced changes to their respective investment strategies.
In connection with the implementation of the previously announced changes, BlackRock Canada is also providing additional information regarding the termination of the US dollar-denominated common units of CSD (CSD.U) and US dollar-denominated advisor class units of CSD (CSD.V).
The USD units were delisted from the Toronto Stock Exchange on 5 December 2013. The assets of CSD referable to the USD units were liquidated. The final net asset value of the USD units was determined on 9 December 2013. The net asset value per unit of CSD.U was USD19.61708. The net asset value per unit of CSD.V was USD19.58573. Holders of USD units will receive their respective distribution entitlements on or about 13 December. Following this distribution, the USD units will no longer be offered by CSD.