Press Release Contacts: BlackRock | ||
Media Relations Canada: Karrie Van Belle 416-594-4407 karrie.vanbelle@blackrock.com | Media Relations United States: Brian Beades 212-810-5596 brian.beades@blackrock.com | Investor Relations: Ellen Taylor 212-810-3815 ellen.taylor@blackrock.com |
Media Relations: Tripp Kyle / April Kabahar-Emspak Brunswick Group 212-333-3810 guggenheim@brunswickgroup.com |
Based in Toronto, Claymore is an independent Canadian
subsidiary of Guggenheim Funds Services Group, a subsidiary
of Guggenheim Partners, LLC.
"This transaction brings together two innovative investment
fund providers and creates an unparalleled opportunity to
serve our Canadian clients," said Bill Chinery, head of
BlackRock Canada. "Claymore Canada brings a complementary set
of ETFs to the world-class iShares® range of
products and enhances our ability to compete against other
investment fund providers in Canada."
Som Seif, president and CEO of Claymore, commented, "advisors
and investors have embraced Claymore Canada products as
valuable components of their investment portfolios.
BlackRock's global breadth and scale provide an
excellent platform for Claymore Canada to begin its next,
exciting chapter. With best-in-class risk management and
operational resources, powerful distribution potential and a
shared commitment to putting clients first, the combined
business will offer strong opportunities for future
growth."
"Our investment in Claymore Canada embodies Guggenheim's
philosophy of supporting industry innovators and preeminent
investment managers," said Todd Boehly, president of
Guggenheim Partners. "We couldn't be more pleased with the
result of our partnership with Som and his team in Canada,
and remain strongly committed to growing our ETF businesses
based in the United States."
At December 31, 2011, BlackRock offered 48 ETFs in Canada
under the iShares brand, representing C$29.0 billion in
assets under management ("AUM") and Claymore Canada offered
34 ETFs and two closed-end funds representing C$7.0 billion
in AUM. The Canadian funds market totaled C$832.6* billion at
June 30, 2011.
"This combination of two great businesses will set a new
standard for service delivery and product offerings in
Canada," said Mary Anne Wiley, head of iShares Canada,
BlackRock. "Without question this will enhance our
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ability to deliver excellence in innovation, quality and
choice - attributes for which our iShares brand is known
around the globe."
Following the receipt of appropriate regulatory approvals,
and satisfaction of customary closing conditions, the
transaction is expected to be completed by the end of the
first quarter of 2012. Terms of the all cash transaction,
which will be neutral-to-modestly accretive to BlackRock's
2012 earnings, were not disclosed.
BlackRock is a leader in investment management, risk management and advisory services for institutional and retail clients worldwide. At September 30, 2011, BlackRock's AUM was $3.345 trillion. BlackRock offers products that span the risk spectrum to meet clients' needs, including active, enhanced and index strategies across markets and asset classes. Products are offered in a variety of structures including separate accounts, mutual funds, iShares® (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®. Headquartered in New York City, as of September 30, 2011, the firm has approximately 10,200 employees in 27 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.
About Guggenheim Partners
Guggenheim Partners is a privately held global financial
services firm with more than $125 billion in assets under
management. The firm provides asset management, investment
banking and capital markets services, insurance,
institutional finance and investment advisory solutions to
institutions, governments and agencies, corporations,
investment advisors, family offices and individuals.
Guggenheim Partners is headquartered in New York and Chicago
and serves clients throughout North America, Europe and Asia
from more than 25 offices in
10 countries. For more information, please visit
www.guggenheimpartners.com
Claymore Investments is a leader in offering innovative
exchange-traded funds in Canada through its family
of 34 ETFs and 2 closed-end funds across a broad range of
asset classes including core equity, fixed income and
commodities with approximately $7.0 billion in assets under
management. Claymore was acquired by Guggenheim Partners in
July 2009. For more information, please visit
www.claymoreinvestments.ca/
This report, and other statements that BlackRock may make,
may contain forward-looking statements within the meaning of
the Private Securities Litigation Reform Act, with respect to
BlackRock's future financial or business performance,
strategies or expectations. Forward-looking statements are
typically identified by words or phrases such as "trend,"
"potential," "opportunity," "pipeline," "believe,"
"comfortable," "expect," "anticipate," "current,"
"intention," "estimate," "position," "assume," "outlook,"
"continue," "remain," "maintain," "sustain,"
"seek," "achieve," and similar expressions, or future or
conditional verbs such as "will," "would," "should," "could,"
"may" or similar expressions.
BlackRock cautions that forward-looking statements are
subject to numerous assumptions, risks and uncertainties,
which change over time. Forward-looking statements speak only
as of the date they are made, and BlackRock assumes no duty
to and does not undertake to update forward-looking
statements. Actual results could differ materially from those
anticipated in forward-looking statements and future results
could differ materially from historical performance.
In addition to risk factors previously disclosed in
BlackRock's Securities and Exchange Commission ("SEC")
reports and those identified elsewhere in this report the
following factors, among others, could cause actual results
to differ materially from forward-looking statements or
historical performance: (1) the introduction, withdrawal,
success and timing of business initiatives and strategies;
(2) changes and volatility in political,
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economic or industry conditions, the interest rate
environment, foreign exchange rates or financial and capital
markets, which could result in changes in demand for products
or services or in the value of assets under management; (3)
the relative and absolute investment performance of
BlackRock's investment products; (4) the impact of increased
competition; (5) the impact of capital improvement projects;
(6) the impact of future acquisitions or divestitures; (7)
the unfavorable resolution of legal proceedings; (8) the
extent and timing of any share repurchases; (9) the impact,
extent and timing of technological changes and the adequacy
of intellectual property and information security protection;
(10) the impact of legislative and regulatory actions and
reforms, including the Dodd-Frank Wall Street Reform and
Consumer Protection Act, and regulatory, supervisory or
enforcement actions of government agencies relating to
BlackRock, Barclays Bank PLC or The PNC Financial Services
Group, Inc.; (11) terrorist activities, international
hostilities and natural disasters, which may adversely affect
the general economy, domestic and local financial and capital
markets, specific industries or BlackRock; (12) the ability
to attract and retain highly talented professionals; (13)
fluctuations in the carrying value of BlackRock's economic
investments; (14) the impact of changes to tax legislation
and, generally, the tax position of the Company; (15)
BlackRock's success in maintaining the distribution of its
products; (16) the impact of BlackRock electing to provide
support to its products from time to time; (17) the impact of
problems at other financial institutions or the failure or
negative performance of products at other financial
institutions; and (18) the ability of BlackRock to complete
the integration of the operations of Barclays Global
Investors.
BlackRock's Annual Report on Form 10-K and
BlackRock's subsequent filings with the SEC, accessible
on the SEC's website at www.sec.govand on BlackRock's
website at www.blackrock.com, discuss
these factors in more detail and identify additional factors
that can affect forward-looking statements. The information
contained on the Company's website is not a part of this
press release.
*Source: Investor Economics, Inc.
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