RBC iShares Closes the Market

TORONTO, July 15, 2024 /PRNewswire/ - The team at RBC iShares, led by Steven Leong, Director, Head of Canada iShares Product, BlackRock, joined Graham MacKenzie, Managing Director, Exchange Traded Products, Toronto Stock Exchange, to close the market today to celebrate the launch of iShares S&P 500 3% Capped Index ETF (TSX:XUSC and XUSC.U) and iShares S&P 500 3% Capped Index ETF – CAD Hedged (TSX: XSPC). These new ETFs will be managed by BlackRock Canada. 

These ETFs are the first of their kind, seeking to provide Canadian investors and advisors with greater choice and diversification options for their investment portfolios. They are designed to address growing concerns of mega cap company concentration risk within the S&P 500 by capping securities in the index at 3% weight.

RBC iShares ETFs are comprised of RBC ETFs managed by RBC Global Asset Management Inc. and iShares ETFs managed by BlackRock Asset Management Canada Limited. RBC iShares is a strategic alliance formed in 2019 between RBC Global Asset Management and BlackRock Canada. RBC iShares provides the largest suite of ETFs to Canadians, and leverages the combined investment expertise of Canada's largest asset manager and the world's largest ETF provider to help advisors build efficient portfolios that meet the needs of their clients.

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SOURCE Toronto Stock Exchange