BlackRock Files with SEC to Launch ETF Share Classes on Five Active Mutual Funds

BlackRock filed initial registration statements with the U.S. Securities and Exchange Commission to introduce ETF share classes across five of its active mutual funds. If made effective by regulators, each proposed ETF share class will trade on a public exchange while holding identical underlying assets as the existing mutual fund portfolios. The multi-class structure spans active investment strategies covering municipal bonds, high-yield debt, and equity dividend funds. Current mutual fund shareholders will not be required to transfer their existing holdings or convert accounts under the proposed design. The rollout taps BlackRock's iShares platform, which manages approximately $6.2 trillion in assets across more than 1,700 ETFs, including nearly $190 billion in active ETF strategies globally. "The proposed share classes would give investors greater choice in how they access the same established portfolios, combining the flexibility and potential tax and cost efficiencies of an ETF with BlackRock’s investment expertise and long-term track records." — Elise Terry