The ECNS issuer, BlackRock-advised Funds, aims to replicate the performance of the MSCI China Small Cap Index, which focuses on small-capitalization Chinese equity securities, including H-shares, B-shares, Red-Chips, and P-Chips. As of August 31, 2023, the index's composition was primarily invested in P-Chips, followed by Red-Chips and H-shares, with a significant allocation to the healthcare industry. Employing an indexing approach, the fund seeks to match the index rather than outperform it, aiming for lower costs and better after-tax performance. Through a representative sampling indexing strategy, the fund invests in a selection of securities mirroring the index's characteristics. While the fund typically invests at least 80% in the index's component securities, it may allocate up to 20% to futures, options, and other instruments. Additionally, the fund may lend securities up to one-third of its total assets. Adhering to an industry concentration policy, the fund mirrors the index's industry concentration, with exceptions for U.S. government securities. The index, sponsored by MSCI Inc., determines the composition and weightings of securities independently of the fund and its advisor, BlackRock.
ECNS Dividend, as an entity within the BlackRock-advised Funds, operates with the objective of delivering dividends to its investors while maintaining alignment with the MSCI China Small Cap Index. This index encompasses various small-cap Chinese equity securities, including H-shares, B-shares, Red-Chips, and P-Chips, with a notable emphasis on the healthcare sector as of August 31, 2023. Employing an indexing strategy, ECNS Dividend seeks to replicate the index's performance rather than actively managing to beat it, hereby potentially reducing certain risks associated with active management. The fund typically invests at least 80% of its assets in securities from the underlying index, with the remainder potentially allocated to various instruments such as futures, options, and cash equivalents. By adhering to an industry concentration policy similar to that of the underlying index, ECNS Dividend aims to provide investors with dividend income while closely tracking the performance of small-cap Chinese equities.
ECNS Tracking, a component of the BlackRock-advised Funds, is designed to closely mirror the performance of the MSCI China Small Cap Index, which comprises small-capitalization Chinese equity securities, including H-shares, B-shares, Red-Chips, and P-Chips, with a notable focus on the healthcare sector as of August 31, 2023. Utilizing an indexing approach, ECNS Tracking aims to replicate the index's returns rather than actively manage investments in an attempt to outperform it. This strategy potentially reduces certain risks associated with active management while aiming for lower costs and better after-tax performance. The fund typically invests at least 80% of its assets in securities from the underlying index, with the flexibility to allocate up to 20% to various instruments such as futures, options, and cash equivalents. By closely aligning with the industry concentration policy of the underlying index, ECNS Tracking seeks to provide investors with an investment vehicle that closely tracks the performance of small-cap Chinese equities.
ECNS Correlation, a constituent of the BlackRock-advised Funds, endeavors to maintain a high correlation with the MSCI China Small Cap Index, which encompasses small-capitalization Chinese equity securities, including H-shares, B-shares, Red-Chips, and P-Chips, with a notable emphasis on the healthcare sector as of August 31, 2023. Employing a strategy focused on correlation, rather than active management for outperformance, ECNS Correlation aims to closely track the movements of its benchmark index. This approach is geared towards reducing certain risks associated with active management, while also potentially offering lower costs and improved after-tax performance. The fund typically invests at least 80% of its assets in securities from the underlying index, while also retaining the flexibility to allocate up to 20% to various instruments such as futures, options, and cash equivalents. By adhering closely to the industry concentration policy of the underlying index, ECNS Correlation seeks to provide investors with a vehicle that maintains a strong correlation with the performance of small-cap Chinese equities.
ECNS Sector, operating within the BlackRock-advised Funds, is structured to reflect the sectoral composition of the MSCI China Small Cap Index, which includes small-capitalization Chinese equity securities like H-shares, B-shares, Red-Chips, and P-Chips, with a notable emphasis on healthcare as of August 31, 2023. Utilizing an approach centered on sectoral allocation, ECNS Sector aims to mirror the index's sectoral distribution rather than actively managing investments to outperform it. This methodology seeks to mitigate certain risks associated with active management while striving for lower costs and potentially enhanced after-tax returns. The fund typically i nvests at least 80% of its assets in securities from the underlying index, with the remainder possibly allocated to various instruments such as futures, options, and cash equivalents. By closely adhering to the sector concentration policy of the underlying index, ECNS Sector endeavors to provide investors with exposure to a portfolio that reflects the sectoral dynamics of small-cap Chinese equities.
ECNS Exposure, within the framework of the BlackRock-advised Funds, aims to provide investors with exposure to the diverse landscape of small-capitalization Chinese equity securities represented in the MSCI China Small Cap Index. This index encompasses a range of securities including H-shares, B-shares, Red-Chips, and P-Chips, with a notable emphasis on the healthcare sector as of August 31, 2023. Employing a strategy focused on exposure, ECNS Exposure seeks to replicate the performance of its benchmark index rather than actively manage investments for outperformance. By closely tracking the index, the fund endeavors to offer investors a vehicle that captures the broad market movements of small-cap Chinese equities. The fund typically invests at least 80% of its assets i n securities from the underlying index, with the flexibility to allocate up to 20% to various instruments such as futures, options, and cash equivalents. Through this approach, ECNS Exposure aims to provide investors with a means to gain exposure to the diverse array of small-cap Chinese equities while potentially mitigating certain risks associated with active management.
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