Summary
This Form 8-K filing by iShares Gold Trust (IAU) on September 14, 2012, announces a significant change in the trust's sponsorship. BlackRock Asset Management International Inc. (BAMII), the current sponsor, intends to enter into an Assignment, Delegation and Assumption Agreement (AD&AA) with iShares Delaware Trust Sponsor LLC (IDTS). Subject to certain conditions, IDTS is expected to assume the role of sponsor for IAU. This strategic move aligns IAU with other iShares exchange-traded investment vehicles that are not classified as "investment companies" under the Investment Company Act of 1940. Importantly for investors, the filing explicitly states that this change in sponsorship will not impact shareholders of the iShares Gold Trust in any way. The trust's operations, the underlying gold holdings, and the rights of shareholders are expected to remain unaffected. This is a structural and administrative change designed to streamline the sponsorship of various iShares products under a common entity, ensuring consistency in management and oversight.
Key Highlights
- 1iShares Gold Trust (IAU) announces a change in its sponsor.
- 2BlackRock Asset Management International Inc. (BAMII) intends to transfer sponsorship to iShares Delaware Trust Sponsor LLC (IDTS).
- 3The transfer is expected to occur via an Assignment, Delegation and Assumption Agreement (AD&AA).
- 4This change aligns IAU with other iShares products not classified as investment companies.
- 5Crucially, the filing states that this sponsorship change will NOT affect IAU shareholders.
- 6The event date for this filing was September 13, 2012, and it was filed on September 14, 2012.