BlackRock unveils suite of mutual funds

Toronto-based BlackRock Asset Management Canada Ltd., an indirect, wholly owned subsidiary of U.S.-based BlackRock Inc., has launched a suite of seven balanced mutual funds – collectively known as the BlackRock Strategic Portfolio Series – that invest mainly in iShares ETFs. Leveraging the firm’s iShares ETF platform, the new fund series is designed to provide both advisors and investors with alternative investment strategies during a time of volatile market conditions. This is not new territory for BlackRock, which manages mutual fund platforms in more than 35 countries with more than US$420 billion in assets under management. The new portfolio series consists of seven allocation funds, including: BlackRock Diversified Monthly Income Portfolio, BlackRock All Bond Portfolio, BlackRock Defensive Portfolio, BlackRock Conservative Portfolio, BlackRock Balanced Portfolio, BlackRock Growth Portfolio and BlackRock Max Growth Portfolio. Management expense ratios for the portfolios range from 0.09% to 0.75%, which is lower than the respective fund’s corresponding category asset-weighted average. Advisor commissions are 0%-5% for front end sales, and 1%-2% for the low-load option. There is no deferred sales option. Redemption fees begin at 2% in Year 1 and end at zero after Year 3 for the BlackRock All Bond Portfolio and BlackRock Diversified Monthly Income Portfolio; and begin at 3% in Year 1 and end at zero after Year 3 for all other portfolios. Minimum investment is $1,000. For more information on trailing commissions and management fees, please refer to www.blackrockinvestments.ca.

Compiled by Clare O’Hara (cohara@investmentexecutive.com).