London – 1 February 2024 – BlackRock today announced that BNY Mellon will join State Street as depositary and administration service providers for iShares’ USD729bn / EUR 673bn1 AUM Irish-domiciled exchange traded funds (ETFs).
This follows BlackRock’s announcement in 2021, of the diversification of post-trade custodians for U.S. domiciled ETFs, which included BNY Mellon with a share of 15% of the contemporary AUM2 of U.S.-listed iShares ETFs.
Mitigating risk and creating efficiency
BNY Mellon3 will provide depositary (including custody), fund administration and fund accounting services to a selection of Irish-domiciled iShares ETFs. State Street will continue to be the registrar and transfer agent for all Irish-domiciled iShares ETFs.
The end state of this project, after the transitions of assets in the coming months, will lead to broadly a 50-50 asset split for depositary and administration between State Street and BNY Mellon based on today’s valuation (BNY Mellon share USD356bn / EUR329bn4). This will only impact BlackRock’s iShares Irish-domiciled ETFs. Fund administration and depositary for the rest of BlackRock’s European iShares ETF ranges (including the iShares ETF ranges domiciled in Switzerland and Germany) will remain with State Street.
Appendix
Details of the BlackRock December 2021 US Custody Announcement
In December 2021, BlackRock announced that BNY Mellon, Citi and JP Morgan would join State Street as post-trade service providers for iShares’ U.S. domiciled ETFs. Each firm provides custodial, fund administration, fund accounting, and transfer agency services to a subset of U.S. listed iShares ETFs.
Approximate AUM Breakdown by Provider*:
|
Citi
|
40%
|
|
JP Morgan
|
30%
|
|
State Street
|
15%
|
|
BNY Mellon
|
15%
|
*Percentages are approximate as of September 30, 2021 and are subject to change
Notes to editors:
Press contacts:
Anthony Arthur
anthony.arthur@blackrock.com
+44 (0) 77553 293913
Ellie Bishop
ellie.bishop@blackrock.com
+44 (0) 7741 811316
About iShares
iShares unlocks opportunity across markets to meet the evolving needs of investors. With more than twenty years of experience, a global line-up of 1400+ exchange traded funds (ETFs) and $3.5 trillion in assets under management as of December 31, 2023, iShares continues to drive progress for the financial industry. iShares funds are powered by the expert portfolio and risk management of BlackRock.
BlackRock iShares European listed ETF AUM as at 30 January 2024: USD808bn / EUR745bn.
IMPORTANT INFORMATION
This communication is for information purposes only and does not constitute a financial promotion, marketing communication or an offer or invitation to anyone to invest in any BlackRock funds and has not been prepared in connection with any such offer. Accordingly, this material does not constitute an offer or solicitation by anyone in any jurisdiction in which such offer or solicitation is not lawful or in which the person making such offer or solicitation is not qualified to do so or to anyone to whom it is unlawful to make such offer or solicitation. It is your responsibility to be aware of the applicable laws and regulations of your country of residence.
In the UK and Non-European Economic Area (EEA) countries:
This is Issued by BlackRock Investment Management (UK) Limited, authorised and regulated by the Financial Conduct Authority. Registered office: 12 Throgmorton Avenue, London, EC2N 2DL. Tel: + 44(0)20 7743 3000. Registered in England and Wales No. 02020394.
For your protection telephone calls are usually recorded. Please refer to the Financial Conduct Authority website for a list of authorised activities conducted by BlackRock.
In the European Economic Area (EEA):
This is Issued by BlackRock (Netherlands) B.V. is authorised and regulated by the Netherlands Authority for the Financial Markets. Registered office Amstelplein 1, 1096 HA, Amsterdam, Tel: 020 – 549 5200, Tel: 31-20-549-5200. Trade Register No. 17068311 For your protection telephone calls are usually recorded.
For Italy
For information on investor rights and how to raise complaints please go to https://www.blackrock.com/corporate/compliance/investor-right available in Italian.
In South Africa
Please be advised that BlackRock Investment Management (UK) Limited is an authorised Financial Services provider with the South African Financial Services Board, FSP No. 43288.
In the U.S.
For U.S., intended for public distribution.
In Canada
This material is intended for institutional investors only, is for educational purposes only, are subject to change and does not constitute investment advice.
In Latin America, no securities regulator within Latin America has confirmed the accuracy of any information contained herein. The provision of investment management and investment advisory services is a regulated activity in Mexico thus is subject to strict rules. For more information on the Investment Advisory Services offered by BlackRock Mexico please refer to the Investment Services Guide available at https://www.blackrock.com/mx.
In Hong Kong, this press release is issued by BlackRock Asset Management North Asia Limited. This press release and the BlackRock website mentioned herein have not been reviewed by the Securities and Futures Commission of Hong Kong.
In Singapore, this information is issued by BlackRock (Singapore) Limited (company registration number: 200010143N)
In South Korea
This information is issued by BlackRock Investment (Korea) Limited. This material is for distribution to the Qualified Professional Investors (as defined in the Financial Investment Services and Capital Market Act and its sub-regulations) and for information or educational purposes only, and does not constitute investment advice or an offer or solicitation to purchase or sells in any securities or any investment strategies.
In Australia, issued by BlackRock Investment Management (Australia) Limited ABN 13 006 165 975 AFSL 230 523 (BIMAL). This material is not a securities recommendation or an offer or solicitation with respect to the purchase or sale of any securities in any jurisdiction. It provides general information only and does not take into account your individual objectives, financial situation, needs or circumstances. Before making any investment decision, you should therefore assess whether the material is appropriate for you and obtain financial advice tailored to you having regard to your individual objectives, financial situation, needs and circumstances. Refer to BIMAL’s Financial Services Guide on its website for more information. This material is not a securities recommendation or an offer or solicitation with respect to the purchase or sale of any securities in any jurisdiction. This material has not been prepared specifically for Australian investors. It may contain references to dollar amounts which are not Australian and may contain financial information which is not prepared in accordance with Australian law or practices. This material is not intended for distribution to, or use by any person or entity in any jurisdiction or country where such distribution or use would be contrary to local law or regulation. BIMAL is a part of the global BlackRock Group which comprises of financial product issuers and investment managers around the world. BIMAL is the issuer of financial products and acts as an investment manager in Australia.
