Bringing you live news and features since 2006 

BlackRock Canada makes changes to XEF ETF

RELATED TOPICS​

iShares is changing the way the investment strategy of the iShares Core MSCI EAFE IMI Index ETF (XEF) is implemented.

XEF will commence implementing its investment strategy by investing primarily in equity securities of companies from Europe, Australia and the Far East that are included in the MSCI EAFE Investable Market Index (the XEF Index), such that the resulting portfolio will have characteristics that closely match the characteristics of the XEF Index.
 
This direct investment strategy will be a change from how XEF currently implements its investment strategy by investing in shares of iShares Core MSCI EAFE ETF, a US iShares fund that itself invests in a portfolio of international equity securities included in the XEF Index.
 
The change is being implemented in accordance with XEF's current prospectus disclosure. The investment objective of XEF and the XEF Index will remain unchanged.
 
As a result of this change in investment strategy implementation, XEF will generally no longer be subject to US withholding taxes. While foreign withholding taxes will continue to apply to dividends paid on certain international equity securities included in the XEF Index, it is expected that the change in investment strategy implementation will reduce the overall amount of withholding taxes borne directly or indirectly by XEF.
 
BlackRock Canada expects that the changes in XEF's portfolio that reflect this change in investment strategy implementation will take place during the three-week period ending on 12 September 2014. BlackRock Canada's current expectation is that XEF will realise capital gains as a result of the changes to XEF's portfolio. The amount of any capital gains from the changes in XEF's portfolio and other investment activities will be disclosed and distributed to unitholders of XEF during the fourth quarter of 2014.

Latest News

Saving and investing app, Moneybox, has doubled the number of ETFs available on the platform, in the light of ‘growing..
Global X ETFs has announced the appointment of Ryan O'Connor as its Chief Executive Officer effective as of April 8, 2024. ..
Value-driven structured credit investing firm, Angel Oak Capital Advisors, LLC, has announced the completed conversions of two of its mutual..
Confidence in the continuing strength of bitcoin and Ethereum is driving wider interest in altcoins and other digital assets, according..

Related Articles

Graham MacKenzie, Toronto Stock Exchange
The evolution of ETFs has been a multi-decade experience for Toronto Stock Exchange says Graham MacKenzie, managing director, Exchange Traded...
Frank Koudelka, State Street Global Services
ETF data provider and ETF Express data partner, Trackinsight, has published its Global ETF Survey 2024 Report: ‘50+ Charts on...
Cryptocurrencies
Matteo Greco, Research Analyst at Fineqia International writes that bitcoin (BTC) ended the week at approximately USD52,150, showing a notable...
US Distribution Awards trophies
The winners of the first US ETF Distribution Awards at the Exchange conference, hosted by ETF Express and sponsored by...
Subscribe to the ETF Express newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by