BlackRock Expands Voting Choice to Millions of U.S. Retail Shareholder Accounts

Rhea-AI Summary

BlackRock enables Voting Choice for $2.6 trillion in assets under management with $598 billion already adopted. Three million U.S. retail shareholder accounts in iShares Core S&P 500 ETF (IVV) benefit from this initiative.

Voting Choice enabled for $2.6 trillion in assets under management (AUM)

Clients representing $598 billion in AUM have adopted BlackRock Voting Choice

NEW YORK--(BUSINESS WIRE)-- BlackRock is enabling Voting Choice for more than three million U.S. retail shareholder accounts¹ invested in iShares Core S&P 500 ETF (IVV) - representing about $200 billion¹ of the fund’s $399 billion² in assets under management (AUM). Two years on from the launch of Voting Choice for institutional clients, the program is now available to individual investors for the first time, increasing eligible Voting Choice assets to $2.6 trillion, or half of BlackRock’s index equity assets under management.

Eligible IVV shareholders will begin receiving communications on February 14 to participate in the program. Through this IVV pilot, BlackRock will evaluate investor interest, proxy voting infrastructure, and overall user experience.

Joud Abdel Majeid, Global Head of BlackRock Investment Stewardship, commented:
“Broadening access to Voting Choice is one way we empower investors by making proxy voting easier and more accessible. I’m thrilled that today more than three million additional shareholder accounts have an efficient solution for participating in proxy voting if they choose. For clients and shareholders who entrust BlackRock with voting on their behalf, we remain steadfast in our focus on their long-term financial interests.”

Rachel Aguirre, Head of U.S. iShares Product at BlackRock, commented:
“We launched Voting Choice two years ago to further democratize investing and enable more investors to participate in shareholder voting. Today, for the first time, we’re able to unlock Voting Choice for millions of individual U.S. investors. This is another important step in the broader innovation that BlackRock continues to bring to ETFs.”

Eligible IVV shareholder accounts will be able to select from six third-party proxy voting policies covering a range of voting preferences, as well as the option to continue to have their proportionate shares voted according to the BlackRock Investment Stewardship Voting Policy. Any investors that choose not to participate or are not eligible to participate will continue to have BlackRock Investment Stewardship vote on their behalf. Voting policy selections will be effective for the duration of the 2024 pilot.

More information for IVV shareholders on participating in Voting Choice, including information on the six third-party proxy voting policies available through the pilot is available here.

Voting Choice Client Adoption
As of December 29, 2023, clients representing $598 billion in assets are exercising BlackRock Voting Choice.

The majority of currently eligible clients continue to entrust BlackRock’s Investment Stewardship team with this important responsibility, consistent with BlackRock’s fiduciary duties as an asset manager.

About BlackRock
BlackRock’s purpose is to help more and more people experience financial well-being. As a fiduciary to investors and a leading provider of financial technology, we help millions of people build savings that serve them throughout their lives by making investing easier and more affordable. For additional information on BlackRock, please visit www.blackrock.com/corporate

About BlackRock Voting Choice
BlackRock Voting Choice is a proprietary offering leveraging technology and innovation that provides eligible clients with more opportunities to participate in proxy voting where legally and operationally viable. BlackRock believes that greater choice should extend to proxy voting. Clients participating in Voting Choice represent $598 billion. The AUM figures are USD as of December 29, 2023. For additional information on BlackRock Voting Choice, please visit www.blackrock.com/votingchoice

This material is not intended as an offer or solicitation for the purchase or sale of any financial instrument. Similarly, the material does not constitute, and should not be relied on as, legal, regulatory, accounting, tax, investment, trading or other advice. Any financial, tax, or legal information contained herein is included for informational purposes only. Investing involves risk, including possible loss of principal.

The iShares Core S&P 500 ETF is not sponsored, endorsed, issued, sold or promoted by S&P Dow Jones Indices LLC, nor does this company make any representation regarding the advisability of investing in the ETF. BlackRock is not affiliated with S&P Dow Jones Indices LLC.

© 2024 BlackRock, Inc. or its affiliates. All Rights

Reserved. BLACKROCK and iSHARES are trademarks of BlackRock, Inc. or its affiliates. All other trademarks are those of their respective owners.

¹ Based on estimated available reach from a proxy service advisor as of December 29, 2023.
² As of December 29, 2023.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240213422764/en/

Media

Matt Kobussen

matt.kobussen@blackrock.com

+1 (646) 231-0599

Source: BlackRock

FAQ

What assets under management (AUM) are affected by BlackRock's Voting Choice?

BlackRock's Voting Choice impacts $2.6 trillion in AUM.

How much of the AUM has already adopted BlackRock's Voting Choice?

$598 billion of the AUM has already adopted BlackRock's Voting Choice.

Which ETF benefits from BlackRock's Voting Choice initiative?

iShares Core S&P 500 ETF (IVV) is the ETF that benefits from BlackRock's Voting Choice initiative.

How many U.S. retail shareholder accounts are involved in BlackRock's Voting Choice for IVV?

More than three million U.S. retail shareholder accounts are involved in BlackRock's Voting Choice for iShares Core S&P 500 ETF (IVV).