Products February 24, 2012

Emerging Market and Asia/Pacific iShares ETFs Launched

 

BlackRock Inc.’s iShares Exchange Traded Funds (ETFs) business launched two dividend-focused equity funds designed to access the emerging markets and Asia/Pacific developed markets.

 

 

Reported by

Listed on the NYSE Arca, the funds are the iShares Emerging Markets Dividend Index Fund (NYSEArca: DVYE) and the iShares Asia/Pacific Dividend 30 Index Fund (NYSEArca: DVYA).  

The iShares Emerging Market Dividend Index Fund is benchmarked to the Dow Jones Emerging Market Select Dividend Index. The index offers exposure to 100 dividend-paying emerging market companies, weighted by indicated annual yield. The top sector holdings are Telecomm, Industrials and Basic Materials.  

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The iShares Asia/Pacific Dividend 30 Index Fund is benchmarked to the Dow Jones Asia/Pacific Select Dividend 30 Index. The index offers exposure to 30 dividend-paying companies in Australia, Hong Kong, Japan, New Zealand and Singapore, weighted by indicated annual yield. The top sector holdings are Financials, Consumer Services and Telecomm.  

More information is available at http://www.iShares.com.

 

The Markets February 24, 2012

BofA to Freeze Pension Fund

Bank of America will freeze its pension plans for eligible employees, effective July 1, 2012.
Reported by

According to news reports, employees will keep the pension benefits they have earned to date; however, workers will no longer accumulate new benefits into the fund. 

The company is moving to a 401(k) retirement plan for most of its employees. The company currently matches contributions of eligible workers up to 5% in the 401(k) plan; however, starting on July 1, the company will start contributing funds into workers’ 401(k) plans, regardless of whether they contribute to the plan. The company will contribute 2% to 3% of a worker’s salary into the 401(k) plan. 

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