BlackRock converts silver bullion trust to ETF

BlackRock Investments Canada will be converting its silver bullion closed-end fund into an ETF, called the iShares Silver Bullion Fund (SVR).

“The conversion of our SVR fund to an ETF structure will provide Canadians with a more liquid option for accessing exposure to physical silver bullion,” says Mary Anne Wiley, managing director and head of iShares at BlackRock Canada.

Starting November 5, 2012, SVR will be available, and will offer both hedged and non-hedged units to investors. The fund seeks to replicate the performance of the price of silver bullion, less fees and expenses.

SVR invests in long-term holdings of silver bullion in 1,000 troy ounces international bar sizes. The ticker symbol for the hedged units will change to SVR from SVR.UN, but the ticker for the non-hedged units remains the same.

Staff

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