Official Contest Rules for the Portfolio Builder’s Cup (the “Contest”)

1. Contest period and Contest Sponsor: The Contest is being offered to you by BlackRock Asset Management Canada Limited (“BlackRock”). The Contest period (the “Contest Period”) begins Tuesday, January 24, 2017 at 12:00 a.m. and ends Monday, July 24, 2017 at 12:00 a.m. All times referenced in these Official Rules are Eastern time zone (EST). All dollar figures are in Canadian dollars (CAD).

2. Eligibility: The Contest is only open to financial advisors employed by Royal Bank of Canada. To be eligible to participate, contestants must have reached the age of majority in their province of residence at the time of entry. This is either 18 or 19 depending on the province of residence. Eligible contestants must be a resident in Canada. Employees of BlackRock Asset Management Canada Limited (“BlackRock”) and each of its affiliates and its sponsors, advertising, promotion and fulfillment agencies and Immediate Family Members or those living in the same household of each are not eligible to win. “Immediate Family Member” is defined as a parent, sibling or any person residing in the same household as an employee of one of the entities. Such excluded employees and/or Immediate Family Members may play, but WILL NOT be eligible to receive the grand prize.

3. Agreement to Rules: By participating, you agree to be fully and unconditionally bound by these rules and you represent and warrant that you meet the eligibility requirements described herein. By providing your email address, you agree to receive an email confirming your registration into the game. By entering this contest, you consent to the use of your name and/or photographs for publicity purposes without compensation, worldwide in perpetuity and in any form of media including the Internet. Winners may be required to sign a release form confirming acceptance of the prize as awarded, confirming their compliance with these contest rules and releasing BlackRock and its affiliates from any liability relating to their prize. Finally, you agree to accept the decision of BlackRock as final and binding as it relates to this Contest. The Portfolio Builder’s Cup is subject to the laws of the Province of Ontario and the federal laws of Canada, as may be applicable. Void where prohibited by law.

4. How To Play: Players will attempt to build a portfolio consisting of exchange-traded funds managed by BlackRock (“iShares ETFs”), subject to the prescribed rules and criteria set out below. Players will have a budget of $1,000,000 and must choose one (1) of two streams in which to build a portfolio: (a) Income or (b) Tactical. All portfolios must contain a minimum of 3 iShares ETFs at all times. The winners will be determined based on the portfolio in each category that achieves the highest overall return (based on closing Net Asset Value (“NAV”) including dividends and interest earned (“Highest Total Return”), as of July 24, 2017 at 12:00am EST, and is in compliance with the rules listed below for each portfolio. If no players have complied with the applicable rules in each category, no winner will be determined.

5. Transactions: Requests to buy or sell iShares ETFs submitted before 3:59 p.m. EST will be executed based on the closing NAV of the iShares ETF as of the business day the request was submitted. Transactions submitted on or after 4:00 p.m. EST will be executed based on the closing NAV of that iShares ETF on the following business day. At the time of your request, the exact NAV of the units you are selling or buying will not be confirmed. For purchase transactions, if you do not have enough cash available when the trade is executed, the per-unit number of your request will be reduced, evenly distributed over each fund, until the trade can be completed.

6. How to Enter: No purchase is necessary to enter this Contest. Entry is subject to these Official Rules, including without limitation, the conditions of entry set forth below. To enter the Contest, advisors must login or register on BlackRock’s website and complete the supplemental login found at All registrations must be fully completed and received by Monday, January 23, 2017 at 11:00 p.m. Only one entry may be submitted per individual, IP address or email address. BlackRock will not be responsible for, (i) late, lost, delayed, not received, damaged, misdirected, incomplete, stolen, postage due or illegible entries; or (ii) failure to receive entries due to transmission failures or technical failures of any kind, including, without limitation, malfunctioning of any network, servers, access providers, hardware or software, whether originating with sender or recipient.

7. Specific Rules for Income Portfolios: Players must hold at least 3 iShares ETFs in their respective portfolios at all times, and must target an asset allocation goal of 40% equity and 60% fixed income. A drift of up to 10% from the target allocation is permitted at any time (i.e., a portfolio may hold between 30-50% equity and 50-70% fixed income at any time).

If your portfolio drifts beyond 10% from the target asset allocation for a period of 14 days or more, on the 15th day, a 0.5% penalty will be charged to your overall portfolio value. You will be penalized a further 0.5% of your portfolio value for every subsequent 14 days that you do not adjust your portfolio to be compliant with the target asset allocation, which will be implemented on the 15th day.

Players must also adhere to a maximum 5% drawdown, meaning that the value of your portfolio cannot decline more than 5% below the original $1,000,000 value at any point. If you exceed this maximum 5% drawdown, you will be disqualified. However, in the event that every player competing in the Income portfolio category incurs more than the 5% maximum drawdown, this requirement will no longer continue to be in force.

Any penalties implemented will not officially be deducted until the conclusion of the game, however accrued penalties will be visible on your “My Portfolio” page and will be shown on the Leaderboard and reflected in your ranking.

Contestants are also required to generate a minimum of 1.5% (or $15,000.00) cash yield on the initial $1,000,000 portfolio. Contestants who have not achieved a 1.5% cash yield by the completion of the game will be disqualified.

The winning Income portfolio player will have achieved the Highest Total Return with a required 1.5% cash yield and a maximum drawdown of 5%. In the event no player in the Income Portfolio category achieves the minimum 1.5% cash yield, no winner will be named in this category.

8. Specific Rules for Tactical Portfolios: Players must hold at least 3 iShares ETFs in their portfolios at all times. There is no target asset allocation.

Players must complete a minimum of one (1) transaction (either a buy or sell) within their portfolios every 30 days. If a transaction is not made during the 30-day period, on the 31st day, a 0.5% penalty will be charged to your overall portfolio value.

Any penalties implemented will not officially be deducted until the conclusion of the game, however accrued penalties will be visible on your “My Portfolio” page and will be shown on the Leaderboard and reflected in your ranking.

Players must also achieve 100% portfolio turnover, meaning that you must have sold at least $1,000,000 worth of funds by the end of the game. Players may repurchase units initially sold at any time. If you have not achieved 100% turnover by the completion of the game you will be disqualified.

The winning player will have generated the highest return while completing 1 minimum transaction every 30 days and 100% turnover before the game ends. If no player achieves 100% turnover by the end of the game, no winner will be chosen in this category.

9. Electronic Communications: Contestants may be given the option to receive commercial emails and/or other communications from BlackRock; however, eligibility to participate in the Contest is not dependent upon an entrant’s consent to receive any such emails and communications, and consenting to receiving such emails and communications will not impact an entrant’s chances of winning. BlackRock will not send informational or marketing communications to entrants, unless entrants expressly consent to receive such communications through an opt-in mechanism. Entrants may at any time opt out of receiving such materials by following the unsubscribe instructions provided at the bottom of any of these communications.

10. Notification of Winner: The winner will be notified by email and/or phone on or before July 31, 2017 and will be announced within the game and by e-mail to all contestants.

11. Prize: There are two (2) grand prizes, each consisting of a $1,000.00 donation to the charity of the winner’s choosing, subject to BlackRock Canada’s sole and complete discretion. All charitable donations will be made in the name of BlackRock Canada. One grand prize will be awarded to the player who achieves the Highest Total Return in the Income category; the other to the player who achieves the Highest Total Return in the Tactical category. In the event of a tie in either category, the grand prize will be split equally amongst the contestants who have achieved the highest overall return in that category. Prizes must be accepted as awarded; no cash substitutes. Prizes are non-transferrable and will only be awarded to the winners. BlackRock reserves the right to substitute a prize of equal or greater value if stated prize becomes unavailable for reasons not related to the winner. Odds of winning will depend on the total number of eligible entries received. Any prize notification or prize returned as undeliverable may result in disqualification and selection of an alternate winner.

12. Miscellaneous: BlackRock reserves the right to cancel or modify the contest if, in its sole discretion, it determines that the contest is not capable of running as originally planned for any reason (such as tampering or infection by computer virus, fraud, technical failures, printing or distribution errors, or any other causes or occurrences have compromised the fairness or integrity of the contest). BlackRock will not be held responsible for failures resulting in the cancellation of this free contest. In the event of any discrepancy or inconsistency between the terms and conditions of these rules and disclosures or other statements contained in any contest-related materials, including but not limited to the contest entry form, or point of sale, television, print or online advertising, the terms and conditions of these rules shall prevail, govern and control.