iShares plans four investment-grade corporate financial sector ETFs

By Toni Weeks

San Diego, Jan. 18 - iShares Trust announced plans for four new investment-grade term funds targeting financial sector bond securities, according to separate N-1A filings with the Securities and Exchange Commission.

The exchange-traded funds are the iShares 2016 Investment Grade Corporate Financial Sector Bond ETF, iShares 2018 Investment Grade Corporate Financial Sector Bond ETF, iShares 2020 Investment Grade Corporate Financial Sector Bond ETF and iShares 2023 Investment Grade Corporate Financial Sector Bond ETF.

Each fund will seek investment results that correspond generally to the price and yield performance, before fees and expenses, of an underlying index comprised of dollar-denominated, investment-grade corporate bonds issued by financial institutions, with the bonds maturing in the fund's last year. Each fund will terminate on March 31 of its final year, at which time it will distribute its remaining net assets to shareholders.

Scott Radell and James Maura are the primary portfolio managers to the funds.

Ticker symbols and management fees have not yet been set.

San Francisco-based BlackRock Fund Advisors is the investment adviser to the funds.

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