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BlackRock makes changes to two iShares ETFs

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BlackRock is to change the fund names, underlying indexes and investment objectives for the iShares North American Tech ETF (IGM) and the iShares North American Tech-Software ETF (IGV), effective on or around 24 December 2018.

These changes are designed to help IGM and IGV more closely maintain existing constituent exposure and mitigate turnover risk following the Global Industry Classification Standard (GICS) revisions to the Information Technology (IT) Sector. The new indices seek to effectively track the methodology of the current underlying indices and retain constituents that have been reclassified to ineligible sub-industries due to the 2018 GICS Reclassification.
 
IGM will be renamed as the iShares Expanded Tech Sector ETF and will track the S&P North American Expanded Technology Sector Index, while IGV will be renamed as the iShares Expanded Tech-Software Sector ETF and will track the S&P North American Expanded Technology Software Index.

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