Effective August 3, 2022, the iShares MSCI Russia ETF (ERUS) has suspended the right of redemption of fund shares pursuant to an exemptive order issued by. S&P 500 Sectors. 9. documents in the last year, 1377 The President of the United States issues other types of documents, including but not limited to; memoranda, notices, determinations, letters, messages, and orders. 1. Buying and selling shares of ETFs may result in brokerage commissions. Shares of the Fund are listed on NYSE Arca, Inc. (NYSE Arca). The fund generally will invest at least 80% of its assets in the component securities of the underlying index . Applicants assert that, in requesting an order by the Commission, the Applicants' goal is to ensure that all of the Fund's shareholders will be treated appropriately and fairly in view of the otherwise detrimental effect on the Fund of the illiquidity of the Fund's investments and the ongoing uncertainty surrounding the Russian equity markets. Following that distribution, the Fund will have no assets of realizable value (other than the amount so held in reserve), and the Fund's positions in Russian securities will not be transferable by the Fund. include documents scheduled for later issues, at the request The President of the United States manages the operations of the Executive branch of Government through Executive orders. Visit the 360 Evaluator tool, exclusively for advisors, to analyze investments within a portfolio context in minutes. of the issuing agency. Add to watchlist; Add to portfolio; Price (USD) 21.40; Today's Change 0.00 / 0.00%; Mar. NYSE Arca, the fund's listing exchange, halted trading in the ETF prior to the March 4 market open, the filing said. International investing involves risks, including risks related to foreign currency, limited liquidity, less government regulation and the possibility of substantial volatility due to adverse political, economic or other developments. Start Printed Page 48522 Prior to the events described in the Application, the Fund was managed by Adviser according to an investment objective of seeking to track the investment results of an index composed of Russian equities. New York, NY 10017-4036, Chicago Office For newly launched funds, Sustainability Characteristics are typically available 6 months after launch. Carefully consider the Funds' investment objectives, risk factors, and charges and expenses before investing. The iShares MSCI Russia ETF (ticker ERUS) will begin closing on Aug. 17 and proceeds from the few assets that can be liquidated will be distributed to shareholders, BlackRock announced in a. As of the last day of trading (March 3, 2022), the Closing Price was $8.06, the Premium/Discount was 7,039.25%, the 30-Day Average Volume was 1,553,680, the Daily Volume was 5,256,584 and the 30-Day Median Bid/Ask Spread was 0.14%. In addition, as noted above, the NYSE Arca may determine in its discretion to delist shares of the Fund if the requested relief is not granted. The iShares MSCI Russia Capped ETF previously suspended new creations of ERUS shares on March 1 and stopped trading altogether on March 4 after western sanctions on Moscow in response to the invasion of Ukraine made it all but impossible to access Russian financial markets. BlackRock has announced that it will begin liquidating the portfolio of the iShares MSCI Russia Capped ETF (ERUS) and distribute assets to shareholders who were left holding the bag when. If the order requested in the Application is granted, pursuant to the Plan of Liquidation and Dissolution of Series (the Plan of Liquidation) approved by the Board of Directors of the Company (the Board), the Fund will distribute in liquidation all of its liquid assets to shareholders, less a reserve in an amount estimated to meet the costs of the liquidation that would be borne by the Fund. Explore ERUS for FREE on ETF Database: Price, Holdings, Charts, Technicals, Fact Sheet, News, and more. Achieving such exceptional returns involves the risk of volatility and investors should not expect that such results will be repeated. Russias invasion of Ukraine has prompted a range of sanctions and other capital controls that prevent BlackRock and other non-Russian investors from buying and selling Russian securities. For more news, information, and strategy, visit VettaFi. Known as Exchange-Traded Funds in English, ETFs are tools that help you make an investment in the stock market. For more information, please refer to the prospectus.Additional information: Effective June 1, 2022, MSCI has terminated the Funds underlying index. But while S&P 500 index funds are holding up relatively well amid broad global . Neither FTSE, LSEG, nor NAREIT makes any warranty regarding the FTSE Nareit Equity REITS Index, FTSE Nareit All Residential Capped Index or FTSE Nareit All Mortgage Capped Index. Actions. NYSE Arca, the fund's listing exchange, halted trading. Commission's website by searching for the file number at the top of this document, or for an Applicant using the Company name search field, on the SEC's EDGAR system. In this Issue, Documents payment or satisfaction upon redemption of any redeemable security in accordance with its terms for more than seven days after the tender of such security to the company or its designated agent except for any period during which the New York Stock Exchange (NYSE) is closed other than customary week-end and holiday closings, or during which trading on the NYSE is restricted. the material on FederalRegister.gov is accurately displayed, consistent with On August 17, 2022, BlackRock will begin Actual after-tax returns depend on the investor's tax situation and may differ from those shown. This and other information can be found in the Funds' prospectuses or, if available, the summary prospectuses, which may be obtained by visiting the iShares ETF and BlackRock Fund prospectus pages. BlackRocks purpose is to help more and more people experience financial well-being. 11/09/2022, 809 developer tools pages. Applicants state that the request for relief arises from the effect of geopolitical affairs on transactions in the Russian equity markets and on the relevant markets for Russian equity securities generally, and on related clearance and payment systems. Suite 3200 Read the prospectus carefully before investing. The reasons cited were its . Tapping a Misunderstood Alpha Source - Effective Corporate Bond Portfolio Const, A Closer Look at the Listed Infrastructure Advantage, Responsible investment 2.0: Rethinking the asset management sectors approach t, The Role of ETFs in a New Fixed Income Landscape, Analysts of The Future: The Roles of Buy Side Analysts in Engagement with Compa, Asset Owners Create a More Powerful Voice, For institutional investors, ETFs can make meeting liquidity needs easier, Gold: the most effective commodity investment, 2021 Investment Outlook | Investing Beyond the Pandemic: A Reset for Portfolios, Ten ways retirement plan professionals add value to plan sponsors. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. documents in the last year, 9 ICRMH0719U-885409. 9. The iShares MSCI Russia ADR/GDR UCITS ETF (Acc) is a very small ETF with 16m Euro assets under management. The iShares MSCI Russia ETF (ticker ERUS) will begin closing on Aug. 17 and proceeds from the few assets that can be liquidated will be distributed to shareholders, BlackRock announced in a press . provide legal notice to the public or judicial notice to the courts. An initial liquidation distribution is currently scheduled to be sent to shareholders on or around August 17, 2022," according to iShares. Pending liquidating distributions, the Fund will invest proceeds of cash dispositions of portfolio securities solely in U.S. government securities, money market funds that are registered under the Act and comply with the requirements of Rule 2a-7 under that Act, cash equivalents, securities eligible for purchase by a registered money market fund meeting the requirements of Rule 2a-7 under the Act with legal maturities not in excess of 90 days and, if determined to be necessary to protect the value of a portfolio position in a rights offering or other dilutive transaction, additional securities of the affected issuer. has no substantive legal effect. 5. BlackRock provides compensation in connection with obtaining or using third-party ratings and rankings. The Top 100 ETFs of the archive that best performed in the last 12 Months. from 49 agencies. The Fund's assets will be distributed to the Fund's shareholders solely in accordance with the Plan of Liquidation. "After Dec. 31, 2023, the fund may be terminated at any time, in the discretion of the fund's board of directors, even if the Russian securities and depository receipts have not been sold," the release said. Interested persons may request a hearing by emailing to the Commission's Secretary at This difference may result in divergence of ETF total return and benchmark return. This voluntary waiver may be eliminated by BFA at any time. Applicants believe that the relief requested is appropriate for the protection of shareholders of the Fund. As a result of these geopolitical affairs, virtually all of the Fund's direct and indirect holdings of Russian equity securities have become illiquid and are fair valued at or near zero. that agencies use to create their documents. Read the prospectus carefully before investing. documents in the last year, 503 BLACKROCK, BLACKROCK SOLUTIONS, BUILD ON BLACKROCK, ALADDIN, iSHARES, iBONDS, iTHINKING, iSHARES CONNECT, FUND FRENZY, LIFEPATH, SO WHAT DO I DO WITH MY MONEY, INVESTING FOR A NEW WORLD, BUILT FOR THESE TIMES, the iShares Core Graphic, CoRI and the CoRI logo are registered and unregistered trademarks of BlackRock, Inc., or its subsidiaries in the United States and elsewhere. See Shares of ETFs are bought and sold at market price (not NAV) and are not individually redeemed from the fund. documents in the last year, 272 Applicants request an order pursuant to Section 22(e) of the Act to suspend the right of redemption with respect to shares of the Fund effective August 3, 2022, and postpone the date of payment of redemption proceeds with respect to redemption orders received on or after August 1, 2022 but not yet paid as of August 3, 2022, for more than seven days after the tender of securities to the Fund, until the Fund completes the liquidation of its portfolio and distributes all its assets to the shareholders, or until the Commission rescinds the order granted herein. 812-15377). The OFR/GPO partnership is committed to presenting accurate and reliable Under the circumstances described in the application, which require immediate action to protect the Fund's shareholders, the Commission concludes that it is not practicable to give notice or an opportunity to request a hearing before issuing the order. 2022-17001 Filed 8-8-22; 8:45 am], updated on 4:15 PM on Wednesday, November 9, 2022, updated on 8:45 AM on Wednesday, November 9, 2022, 116 documents A Notice by the Securities and Exchange Commission on 08/09/2022. The ETF had assets totaling just $960,454 as of Aug. 3, according to BlackRock's website. Free ratings, analyses, holdings, benchmarks, quotes, and news. Investing involves risk, including possible loss of principal. June 27 2022: the funds distributed existing liquidation proceeds to investors. BlackRock will begin the process of liquidating its iShares MSCI Russia ETF on Aug. 17 after the Securities and Exchange Commission granted exemptive relief, a BlackRock spokeswoman confirmed Thursday. on NARA's archives.gov. Effective March 1, 2022, the Fund has temporarily suspended new creations of its shares until further notice. Prepared by BlackRock Investments, LLC, member FINRA. "Russia's invasion of Ukraine has prompted a range of sanctions and other capital controls that prevent BlackRock and other non-Russian investors from buying and selling Russian securities," the news release said. Secretarys-Office@sec.gov 7. Section 22(e)(3) of the Act provides that redemptions may be suspended by a registered investment company for such other periods as the Commission may by order permit for the protection of security holders of the registered investment company. View source version on businesswire.com: https://www.businesswire.com/news/home/20220803005961/en/, Soogyung JordanSoogyung.Jordan@blackrock.com 646.276.5403, will be published on the products webpage, https://www.businesswire.com/news/home/20220803005961/en/, Midterm election results raise DeSantis's stock, scramble 2024 calculus for Trump, Nevada's critical US Senate, House races too early to call, Nailed It: Amazon Becomes the First Company Ever to Lose $1 Trillion in Stock Value, Three U.S. tourists die in Mexico City Airbnb from carbon monoxide poisoning, Ocasio-Cortez slams NY Democratic Party leadership over election results. rendition of the daily Federal Register on FederalRegister.gov does not 10. 1503 & 1507. Latest iShares VII PLC - iShares MSCI Russia ADR/GDR ETF USD Acc (CSRU:LSE:USD) share price with interactive charts, historical prices, comparative analysis, . In general, the values shown for market value, weight, and notional value (the calculated values) are based off of a price provided by a third-party pricing vendor for the portfolio holding and do not reflect the impact of fair valuation (the vendor price). establishing the XML-based Federal Register as an ACFR-sanctioned iSHARES and BLACKROCK are trademarks of BlackRock, Inc., or its subsidiaries in the United States and elsewhere. The Fund and the Adviser will promptly make available to Commission staff all files, books, records and personnel, as requested, relating to the Fund. Find the latest iShares MSCI Russia ETF (ERUS) stock discussion in Yahoo Finance's forum. POPULAR ARTICLES AND RESOURCES FROM ETFTRENDS.COM, Volatility ETFs Arent Flashing Signs of Market Fear, iShares Russia ETF Investors Get Some Closure, Biotech ETFs Advance on Speculation of a Takeover Bid for Global Blood Therapeutics, Divestment Is Disengagement: How Engine No. Main Office documents in the last year, 887 iShares Russia ETFs are funds that focus on equities domiciled in the emerging-market nation of Russia and the various Russian republics. Everything from high demand sneakers to luxury watches. Christopher D. Carlson, Senior Counsel, Trace W. Rakestraw, Branch Chief, or Daniele Marchesani, Assistant Chief Counsel, at (202) 551-6825 (Division of Investment Management, Chief Counsel's Office). will adopt or has adopted the Plan of Liquidation for the orderly liquidation of Fund assets and distribution of appropriate payments to Fund shareholders. ERUS CL. Investing involves risk, including possible loss of principal. The ETF total return is based on the ETFs net asset value, which uses systematic fair value to price certain foreign assets as of 4:00 p.m. Eastern time (when foreign markets may be closed). 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