Intercontinental Exchange’s ICE Data Services has been selected as the new benchmark provider for four of BlackRock’s iShares US bond exchange traded funds.
The transition of the four funds, which currently have USD19.9 billion in AUM, was completed on 1 August.
The funds and their new indexes are: iShares Broad USD Investment Grade Corporate Bond ETF (USIG) – ICE BofAML US Corporate Index; iShares Short-Term Corporate Bond ETF (IGSB) – ICE BofAML 1-5 Year US Corporate Index; iShares Intermediate-Term Corporate Bond ETF (IGIB) – ICE BofAML 5-10 Year US Corporate Index; and iShares Long-Term Corporate Bond ETF (IGLB) – ICE BofAML 10+ Year US Corporate Index.
“As investors have expressed a desire for more focused corporate exposure, these index changes will ensure we offer the right ETFs for our clients’ evolving needs,” says Heather Brownlie, Head of U.S. iShares Fixed Income at BlackRock. “We’re pleased to work with ICE as the new benchmark index provider for these ETFs. With its proven expertise in index design and calculation services, and the high quality of its underlying data and analytics, ICE Data Indices were a natural choice for these funds.”
“BlackRock iShares is a leader in ETF issuance and we’re excited to have been selected as the index provider for these funds,” says Lynn Martin, President and Chief Operating Officer of ICE Data Services. “As the trend towards indexation continues to grow, our innovative and flexible index services offer a wide range of indices and customised solutions to meet the evolving needs of our customers.”