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LONDON - iShares VI plc announced Tuesday that its iShares Global High Yield Corp Bond GBP Hedged UCITS ETF (ISIN:IE00B8KQFS66) will see a change to its underlying benchmark index.
According to a company statement, S&P Dow Jones Indices Limited, the index provider for the Markit iBoxx Global Developed Markets Liquid High Yield Capped (GBP Hedged) Index, will remove the 10% cap on exposure to bonds issued under Rule 144A of the U.S. Securities Act of 1933.
The change specifically affects Rule 144A bonds that are reportable on the Trade Reporting and Compliance Engine, a reporting system operated by the U.S. Financial Industry Regulatory Authority that provides real-time trade data for eligible fixed-income securities.
The index modification is scheduled to take effect on or around August 1, 2025.
iShares indicated that a new version of the company’s prospectus will be published around the effective date of the change.
The fund company noted that electronic copies of the full shareholder letter will be made available for inspection at the UK Financial Conduct Authority’s National Storage Mechanism and on the iShares website.
The announcement did not specify how this change might alter the composition or characteristics of the fund’s portfolio.
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