Share Classes & Loads

Learn about specific sales charges and forms of share classes for all investment types.

Share
Class

Distribution/
Accumulation

Calculated

Paid

Dividend Basis

Gross/Net

Stable

1

Distribution

Daily

Monthly

Income for current day

Net*

No

2

Accumulation

-

-

-

-

-

3

Distribution

Monthly

Monthly

Income for preceding 1 month

Net*

No

4

Distribution

Annually

Annually

Income for preceding 12 months

Net*

No

5

Distribution

Quarterly

Quarterly

Income for preceding 3 months

Net*

No

6

Distribution

Monthly

Monthly

Determined on the basis of gross income

Gross

Yes

8

Distribution

Monthly

Monthly

Determined on the basis of gross income and
interest rate differential

Gross

Yes

 

Classes and Form of Shares
Shares in the Funds are divided into Class A, Class C, Class D, Class E, Class I, Class J, and Class X Shares, representing different charging structures. Shares are further divided into Distributing and Non-Distributing Share classes. Non-Distributing Shares do not pay dividends, whereas Distributing Shares pay dividends.

Class A Shares: are available to all investors as Distributing and Non-Distributing Shares and are issued in registered form and global certificate form. Unless otherwise requested, all Class A Shares will be issued as registered shares.

Class C Shares: are available as Distributing and Non-Distributing Shares to clients of certain distributors (which provide nominee facilities to investors) and to other
investors at the discretion of the Management Company. Class C Shares are available as registered shares only.

Class D Shares: are available as Distributing and Non-Distributing Shares and are issued as registered shares and global certificates. Unless otherwise requested, all Class D Shares will be issued as registered shares. They are only available to:

  • certain distributors who have separate fee arrangements with their clients and
  • other investors at the Management Company’s discretion. In relation to Spain, the Management Company has decided to allow only Institutional Investors to invest in Class D Shares in addition to those mentioned under

Class E Shares: are available in certain countries, subject to the relevant regulatory approval, through specific distributors selected by the Management Company and the Principal Distributor (details of which may be obtained from the local Investor Servicing team). They are available as Distributing and Non-Distributing Shares, and are issued as registered shares and global certificates for all Funds. Unless otherwise requested, all Class E Shares will be issued as registered shares.

Class I Shares: are available as Distributing and Non-Distributing Shares to Institutional Investors and are issued as registered shares and global certificates. Unless otherwise requested, all Class I Shares will be issued as registered shares. They are only available at the Management Company’s discretion. Class I Shares are only available to Institutional Investors within the meaning of Article 174 of the 2010 Law. Investors must demonstrate that they qualify as Institutional Investors by providing the Company and its Transfer Agent or the local Investor Servicing team with sufficient evidence of their status.

Class J Shares: are available as Distributing and Non-Distributing Shares. No fees are payable in respect of Class J Shares (instead a fee will be paid to the Management Company or affiliates under an agreement). Unless otherwise requested, all Class J Shares will be issued as registered shares. Class J Shares are only available to Institutional Investors within the meaning of Article 174 of the 2010 Law. Investors must demonstrate that they qualify as Institutional Investors by providing the Company and its Transfer Agent or the local Investor Servicing team with sufficient evidence of their status.

Class X Shares: are available as Non-Distributing Shares and Distributing Shares, and are issued as registered shares only at the discretion of the Investment Adviser and its affiliates. No management fees are payable in respect of Class X Shares (instead a fee will be paid to the Investment Adviser or affiliates under an agreement). Class X Shares are only available to Institutional Investors within the meaning of Article 174 of the 2010 Law on undertakings for collective investment, as amended and who have entered into a separate agreement with the relevant entity of the BlackRock Group. Investors must demonstrate that they qualify as Institutional Investors by providing the Company and its Transfer Agent or the local Investor Servicing team with sufficient evidence of their status.

Minimum Subscription
The minimum initial subscription in respect of any Share Class of a Fund is currently USD5,000 (except for Class D Shares where the minimum is USD100,000 and Class I Shares, Class J Shares and Class X Shares where the minimum is USD10 million) or the approximate equivalent in the relevant Dealing Currency. The minimum for additions to existing holdings of any Share Class of a Fund is USD1,000 or the approximate equivalent. These minima may be varied for any particular case or distributor or generally.

Not all funds mentioned in this pricing guide are available at this time.

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