iShares to launch four bond funds with Mauro and Radell as managers

By Toni Weeks

San Diego, Jan. 30 - iShares, Inc. announced it is planning a new exchange-traded fund sponsored by BlockRock, Inc., according to an N-1A filing with the Securities and Exchange Commission.

The iShares Emerging Markets Corporate Bond Fund will seek investment results that correspond generally to the price and yield performance, before fees and expenses, of the Morningstar Emerging Markets Corporate Bond Index. The index tracks the performance of the dollar-denominated emerging market corporate bond market. The fund will generally invest at least 90% of its assets in the securities of the index.

The iShares Emerging Markets High Yield Bond Fund will seek investment results that correspond generally to the price and yield performance, before fees and expenses, of the Morningstar Emerging Markets High Yield Bond Index, which tracks the performance of the high-yield dollar-denominated emerging market sovereign and corporate bond market. The fund will generally invest at least 90% of its assets in the securities of the index.

The iShares B - Ca Rated Corporate Bond Fund will seek investment results that correspond generally to the price and yield performance, before fees and expenses, of the Barclays Capital U.S. Corporate B - Ca Capped Index, which is a subset of the Barclays U.S. Corporate High Yield Index and measures the performance of the taxable B1 - Ca-rated range of the fixed-rate dollar-denominated corporate bond market. The fund's underlying index is market capitalization-weighted, capping individual issuers at 3% of the index's total market value. The fund will generally invest at least 90% of its assets in the securities of the index and investments that provide substantially similar exposure to the securities in the index.

The iShares Baa - Ba Rated Corporate Bond Fund will seek investment results that correspond generally to the price and yield performance, before fees and expenses, of the Barclays Capital U.S. Corporate Baa - Ba Capped Index, which is a subset of the Barclays U.S. Corporate Index and Barclays U.S. Corporate High Yield Index and measures the performance of the taxable Baa1 - Ba3-rated range of the fixed-rate dollar-denominated corporate bond market. The fund's underlying index is market capitalization-weighted, capping individual issuers at 3% of the index's total market value. The fund will generally invest at least 90% of its assets in the securities of the index and investments that provide substantially similar exposure to the securities in the index.

The portfolio managers for the funds will be James Mauro and Scott Radell. Each manager will supervise a portfolio management team.

Although shareholder and management fees have not yet been detailed, San Francisco-based BlackRock Fund Advisors, the funds' investment adviser, has contractually agreed to pay all operating expenses of the funds except for interest expenses, taxes, brokerage expenses, future distribution fees or expenses and extraordinary expenses.

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