Eligible Funds and Accounts
In accordance with Department of Labor Prohibited Transaction Exemption 2002-12 (“PTE 2002-12”), effective as of September 1, 2014, BlackRock permits the following “Index Funds,” “Model-Driven Funds” and “Large Restructuring Accounts” (as each is defined below) to utilize BlackRock’s Aladdin Crossing Engine, which allows such funds and accounts to match buy and sell orders for securities in an automated fashion up to three business days after the day on which a “Triggering Event” (as defined below) occurs.
An "Index Fund" is any investment fund, account, or portfolio sponsored, maintained, trusteed and/or managed by BlackRock which is designed to track the rate of return, risk profile, and other characteristics of an independent, third-party standardized securities index that represents the investment performance of a specific segment of the public market for equity or debt securities in the US and/or another country (an "Index") by either (A) replicating the same combination of securities which compose such Index or (B) sampling the securities which compose such Index based on objective criteria and data. BlackRock may not use its discretion, or data within its control, to affect the identity or amount of securities to be purchased or sold for an Index Fund.
A "Model-Driven Fund" is any investment fund, account, or portfolio sponsored, maintained, trusteed and/or managed by BlackRock which is composed of securities the identity of which and the amount of which are selected by a computer model that is based on prescribed objective criteria using independent third-party data, not within the control of BlackRock to transform an Index. An Index Fund or Model-Driven Fund may be "plan assets" subject to ERISA, an investment company registered under the Investment Company Act of 1940, or contain assets of one or more institutional investors, such as an insurance company separate or general account, a governmental plan, a university endowment or a charitable foundation.
A "Large Restructuring Account" is an account for which BlackRock has been engaged to restructure all or a portion of the portfolio or to act as a trading adviser in connection with a portfolio restructuring program and which holds assets of (A) a plan within the meaning of Section 3(3) of ERISA that has assets in excess of $50 million, (B) an institutional investor that has assets in excess of $50 million or (C) an investment company registered under the Investment Company Act of 1940 that is not managed by BlackRock.
The attached list of eligible Index Funds, Model-Driven Funds, and Large Restructuring Accounts will be updated periodically, in accordance with PTE 2002-12.
Click here for the list of eligible Funds and Accounts