All-In-One Commodity Solution That Utilizes a Dynamic Roll Methodology
NEW YORK, Oct. 16 (Korea Bizwire) — Nasdaq today announced that BlackRock, Inc. will list a new exchange-traded fund, iShares Commodities Select Strategy ETF (Symbol: COMT), on The Nasdaq Stock Market. COMT will begin trading on Nasdaq today, October 16th, 2014.
“We believe commodities play an important role in investor’s portfolios, but investing in them can be a challenge,” said Patrick Dunne, Head of iShares Global Markets and Investments at BlackRock. “The iShares Commodities Select Strategy ETF provides investors with comprehensive commodity exposure in a simple, efficient way through futures and equities and removes a tax barrier that may have kept investors away from commodities.”
COMT is innovatively structured to provide cost-effective, simple access to a diversified mix of commodities through futures and commodity-related companies. The fund is intended to be an all-in-one commodity solution by providing comprehensive commodity exposure in a smarter, more efficient way through both futures and equities; removing a tax barrier that may have kept investors away from commodities and utilizing a roll methodology that seeks to improve returns. The fund manager uses a roll methodology designed to minimize the negative return impact of ‘contango’, which describes a term structure of the futures curve where the future price is above the expected future spot price. Additionally, the ETF structure of COMT alleviates the need for investors to file a K-1 at tax time.
“We are thrilled to embark on a closer partnership with BlackRock and welcome their unique exchange-traded product to the Nasdaq family of listed companies and ETPs,” said Walt Smith, Vice President, Head of U.S. Equities at Nasdaq. “As an operator of leading electronic trading venues in multiple asset classes including cash equities and fixed income, we continue to facilitate various investment opportunities in these products.”
Nasdaq operates an efficient platform for successfully introducing a product suite into one of the single largest pools of liquidity, including market participants which represent a full spectrum of investors. ETF issuers benefit from an end-to-end solution that provides ongoing product support including index licensing, listings opportunities, data offerings and trading services. As the home to some of the world’s most innovative ventures, Nasdaq generates opportunities for issuers to access new markets and deliver new concepts that change the way the industry develops, manages and applies ETFs.
BlackRock is a leader in investment management, risk management and advisory services for institutional and retail clients worldwide. At June 30, 2014, BlackRock’s AUM was $4.594 trillion. BlackRock helps clients meet their goals and overcome challenges with a range of products that include separate accounts, mutual funds, iShares(R) (exchange-traded funds), and other pooled investment vehicles. BlackRock also offers risk management, advisory and enterprise investment system services to a broad base of institutional investors through BlackRock Solutions(R). Headquartered in New York City, as of June 30, 2014, the firm had approximately 11,600 employees in more than 30 countries and a major presence in key global markets, including North and South America, Europe, Asia, Australia and the Middle East and Africa. For additional information, please visit the Company’s website at www.blackrock.com | Twitter: @blackrock_news | Blog: www.blackrockblog.com | LinkedIn: www.linkedin.co
iShares is a global product leader in exchange traded funds with over 600 funds globally across equities, fixed income and commodities, which trade on 20 exchanges worldwide. The iShares Funds are bought and sold like common stocks on securities exchanges. The iShares Funds are attractive to many individual and institutional investors and financial intermediaries because of their relative low cost, tax efficiency and trading flexibility. Investors can purchase and sell shares through any brokerage firm, financial advisor, or online broker, and hold the funds in any type of brokerage account. The iShares customer base consists of the institutional segment of pension plans and fund managers, as well as the retail segment of financial advisors and high net worth individuals.
Nasdaq (Nasdaq:NDAQ) is a leading provider of trading, exchange technology, information and public company services across six continents. Through its diverse portfolio of solutions, Nasdaq enables customers to plan, optimize and execute their business vision with confidence, using proven technologies that provide transparency and insight for navigating today’s global capital markets. As the creator of the world’s first electronic stock market, its technology powers more than 70 marketplaces in 50 countries, and 1 in 10 of the world’s securities transactions. Nasdaq is home to more than 3,400 listed companies with a market value of over $8.5 trillion and more than 10,000 corporate clients. To learn more, visit www.nasdaqomx.com.
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The matters described herein contain forward-looking statements that are made under the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements about Nasdaq and its products and offerings. We caution that these statements are not guarantees of future performance. Actual results may differ materially from those expressed or implied in the forward-looking statements. Forward-looking statements involve a number of risks, uncertainties or other factors beyond Nasdaq’s control. These factors include, but are not limited to factors detailed in Nasdaq’s annual report on Form 10-K, and periodic reports filed with the U.S. Securities and Exchange Commission. We undertake no obligation to release any revisions to any forward-looking statements.
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CONTACT: BlackRock Media Contact:
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Source: NASDAQ OMX Group via Globe Newswire