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An individual investor, also known as a retail client, is a client organisation or individual who cannot be deemed both a Qualified Investor and a Qualified Client, pursuant to the requirements of the Israeli Securities Law 1968 (the ‘Securities Law’) and the Law for the Regulation of Advice, Investment Marketing and Investment Portfolio Management 1995 (the ‘Advice Law’), respectively. A Qualified Investor is defined under the Securities Law as:
(1) A fund for joint investments in trust (i.e., mutual fund) as defined in the Joint Investment Trust Law, 1994, or a management company of such a fund;
(2) A provident fund or a management company (of such funds) thereof, both as defined in the Regulation of Financial Services (Provident Funds) Law, 2005;
(3) An insurer defined in the Regulation of Financial Services (Provident Funds) Law, 1981;
(4) A Banking Corporation or Auxiliary Corporation, as such terms are defined in the Banking (Licencing) Law 1981, other than a joint services company, acting for their own account or for the account of clients that are investors of the type listed in Section 15A(b) of the Securities Law;
(5) A licensed portfolio manager under the Advice Law, acting on its own account or for the account of clients that are investors of the type listed in Section 15A(b) of the Securities Law;
(6) An investment advisor or provider of investment marketing services under the Advice Law, acting for its own account;
(7) A member of the Tel Aviv Stock Exchange, acting on its own account or for the account of clients that are investors of the type listed in Section 15A(b) of the Securities Law;
(8) An underwriter fulfilling the conditions of Section 56(c) of the Securities Law;
(9) A venture capital fund (defined as an entity primarily involved in investments in entities which are engaged, at the time of investment,: (a) in research and development or production of new technological products or processes, and (b) where the risk of investment is typically above-average risk for such investment);
(10) An entity wholly owned by persons Exempt Investors (as defined in the Securities Law);
(11) An entity, other than an entity formed for the purpose of purchasing securities in a specific offering, in which the shareholders equity is in excess of NIS 50 million;
(12) An individual regarding whom one of the following conditions are met:
(a) The total value of cash, deposits, financial assets and securities – as defined in section 52 of the Securities Law – owned by the individual exceeds NIS8,095,444;
(b) The individual has income during each of the last two years exceeds NIS1,214,317, or the income of the family unit of which the individual is a member exceeds NIS1,812,475; or
(c) The total value of the liquid assets owned by the individual exceeds NIS5,059,652 and income during each of the last two years exceeds NIS607,158 or the income of the family unit of which the individual is a member exceeds 910,737.
A Qualified Client is defined under in the Advice Law as:
(1) A joint investment trust fund or a fund manager;
(2) A management company or provident fund (as defined in the Supervision of Financial Services (Provident Funds) Law, 1995;
(3) An insurance company;
(4) A banking corporation or an auxiliary corporation as defined in the Banking Law, other than a joint services company;
(5) A person holding a license under the Advice Law;
(6) A stock exchange member;
(7) An underwriter meeting the qualification conditions under section 56(c) of the Securities Law;
(8) A corporation, other than a corporation which was incorporated for the purpose of receiving services, with equity exceeding NIS50 million;
(9) An individual regarding whom two of the following conditions are met and who has given his consent in advance to being considered a Qualified Client for the purpose of Advice law;
(a) The total value of cash, deposits, financial assets and securities – as defined in section 52 of the Securities Law – owned by the individual exceeds NIS12 million;
(b) The individual has expertise and skills in capital markets or has been employed for at least one year in a professional capacity which requires capital markets expertise;
(c) The individual has executed at least 30 transactions, on average, in each of the four quarters preceding to his consent; or
(10) A corporation which is wholly owned by investors who are Qualified Clients; and
A corporation incorporated outside of Israel, whose activity characteristics are similar to those of a corporation listed in this Exhibit.
Please note that the above summary is provided for information purposes only. If you are uncertain as to whether you can both be classified as a Qualified Investor and Qualified Client, then you should seek independent advice.
Individual Investors
An individual investor, also known as a retail client, is a client organisation or individual who cannot be deemed both a Qualified Investor and a Qualified Client, pursuant to the requirements of the Israeli Securities Law 1968 (the ‘Securities Law’) and the Law for the Regulation of Advice, Investment Marketing and Investment Portfolio Management 1995 (the ‘Advice Law’), respectively.
Legal information
Please read this page before proceeding, as it explains certain restrictions imposed by law on the distribution of this information and the countries in which our funds are authorised for sale. It is your responsibility to be aware of and to observe all applicable laws and regulations of any relevant jurisdiction.
None of the material within this website is intended to be relied upon as a forecast, research or investment advice, and is not a recommendation, offer or solicitation to buy or sell any securities or financial product or to adopt any investment strategy. Any opinions expressed may change as subsequent conditions vary. The information and opinions contained in this material are derived from proprietary and non-proprietary sources deemed by BlackRock to be reliable, are not necessarily all-inclusive and are not guaranteed as to accuracy. Any investments named within this material may not necessarily be held in any accounts managed by BlackRock. Reliance upon information in this material is at the sole discretion of the reader. Past performance is no guarantee of future.
For Investors in Israel
BlackRock Investment Management (UK) Limited ("BlackRock") is not licensed and is not insured as required under Israel's Regulation of Investment Advice, Investment Marketing and Portfolio Management Law, 5755-1995 (the “Investment Advice Law”). In addition, The Fund and Fund Manager are not subject to the laws and regulations to which Israeli mutual funds are subject to. This document has not been approved by the Israel Securities Authority and will only be distributed to Israeli residents in a manner that will not constitute "an offer to the public" under sections 15 and 15a of the Israel Securities Law, 5728-1968 (the "Securities Law") or section 25 of the Joint Investment Trusts Law 5754-1994, as applicable. Investment in the products mentioned in this document is subject to the risks described in the fund prospectus (including the risk of loss of investment funds). The fund’s past returns do not guarantee similar returns in the future. For a concise description of the unique risks for the products mentioned in this document, see the above risk section.
This document may not be reproduced or used for any other purpose, nor be furnished to any other person other than those to whom copies have been sent. Nothing in this document should be considered investment advice or investment marketing as defined in the Investment Advice Law. Accordingly, the content of this publication does not replace and should not serve as substitution for Investment Advice or Investment Marketing that takes into account the special characteristics and needs of each Investor. This document does not constitute an offer to sell or solicitation of an offer to buy any securities, nor does it constitute an offer to sell to or solicitation of an offer to buy from any person or persons in any state or other jurisdiction in which such offer or solicitation would be unlawful, or in which the person making such offer or solicitation is not qualified to do so, or to a person or persons to whom it is unlawful to make such offer or solicitation. Furthermore, although BlackRock invests reasonable efforts to ensure the accuracy of the data presented in this document, it does not guarantee their accuracy, is not responsible for it, and should not be relied upon when making an investment decision. Therefore, investors considering investing in the product mentioned in this document are encouraged to review the complete regulatory documentation of each product they consider purchasing and consult their own professional advisers.
BlackRock could have a direct or indirect benefit from investments made by investors in Israel in the products mentioned in this document, or in other products managed by third parties with whom BlackRock is involved in a business contract. In particular, BlackRock manages the foreign funds mentioned in this document, and therefore derives a benefit from investments of Israeli investors in them (inter alia, by charging a "management fee" as specified in the prospectus and in the Annex to the prospectuses of such funds). Therefore, BlackRock has a "Connection" to such products, might have a personal interest in their sale, and might prefer such products over other products. Accordingly, any advice BlackRock provides, is considered, for the purpose of the Investment Advice Law, as Investment Marketing (and not Investment Advising). The complete and updated information regarding the names of such asset managers to the products of which BlackRock has a "connection" (and the types of products issued by each one) is available upon request.
Accessibility statement
BlackRock undertakes to make website and software packages accessible in accordance with Content Accessibility Guidelines (WCAG 2.0) in the near future and incorporate new functionalities specifically designed to enhance accessibility for individuals with disabilities. These enhancements are being implemented to ensure compliance with legal and regulatory requirements and to provide an inclusive online experience for all visitors. Thank you for your patience as we work to improve accessibility on BlackRock platform.
By accepting this terms and conditions, you consent to communicate with us in English, unless you inform us otherwise.
MKTGH0524E/S-3597545
BlackRock takes all complaints seriously and is committed to investigating all complaints competently, diligently and impartially.
Complaints should be made in writing, providing BlackRock with as much clear and accurate information as possible, Address: Alon Tower, 94 Yigal Alon Street, Tel Aviv 6783139, Israel
Email: blackrockisrael@blackrock.com
Complaints on matters concerning BlackRock’s Foreign Funds registered for sale in Israel should be made in writing, providing as much clear and accurate information as possible, to BlackRock’s local appointed foreign fund manager's representative in Israel in respect of registered funds:
Address: HaBarzel St 19א, Tel Aviv-Yafo, 6971026, Israel
Email: PBR@altshul.co.il
BlackRock and, where applicable, its local appointed foreign fund manager's representative in Israel in respect of registered funds, are committed to responding to complaints within a reasonable period of time. As a firm, BlackRock will aim to resolve complaints within eight weeks of receipt.
BlackRock operates in Israel as an unlicenced branch of BlackRock Investment Management (UK) Limited (“Israel Branch”) and as such has no obligation to receive and respond to complaints in a manner designated by local regulations applicable to locally licenced entities supervised by the Israel Securities Authority (“ISA”).
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