BlackRock® Canada Announces Custodian Changes for the iShares Gold Bullion ETF and iShares Silver Bullion ETF
TORONTO, Feb. 04, 2021 (GLOBE NEWSWIRE) -- BlackRock Asset Management Canada Limited (“BlackRock Canada”), an indirect, wholly-owned subsidiary of BlackRock, Inc. (“BlackRock”) (NYSE:BLK) and manager of the iShares Gold Bullion ETF (“CGL”) and iShares Silver Bullion ETF (“SVR”, and together with CGL, the “iShares Funds”), is pleased to announce the appointment of new custodians for the iShares Funds following the unitholder approved changes to the investment restrictions of each iShares Fund previously announced on November 6, 2020 and December 18, 2020.
BlackRock Canada has appointed CIBC Mellon Trust Company (“CIBC Mellon”) to act as bullion custodian for the iShares Funds and State Street Trust Company Canada (“SSTCC”) as custodian of the non-bullion assets of the iShares Funds. It is expected that the bullion owned by the iShares Funds will be stored in the vault facilities of The Royal Canadian Mint (the “RCM”) as CIBC Mellon’s sub-custodian and/or International Depository Services of Canada Inc., as the RCM’s sub-custodian. The Bank of Nova Scotia, the current custodian of the iShares Funds, will cease to be a custodian of the iShares Funds following the full transition of custody responsibilities to CIBC Mellon and SSTCC, respectively.
Further details regarding the iShares Funds and these changes can be found in the updated disclosure documents for the iShares Funds, which are expected to be filed after the date hereof, and which will be subsequently available on www.sedar.com.
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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 900+ exchange traded funds (ETFs) and US$2.67 trillion in assets under management as of December 31, 2020, iShares continues to drive progress for the financial industry. iShares funds are powered by the expert portfolio and risk management of BlackRock.
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