WhyBlackRockBlackRockInvestmentInstitute
BlackRockhelpspeoplearoundtheworld,aswellastheTheBlackRockInvestmentInstitute(BII)providesconnectivitybetweenBlackRock’sportfolio
world’slargestinstitutionsandgovernments,pursuemanagers,originatesmarketresearchandpublishesinsights.Ourgoalsaretohelpourfund
theirinvestinggoals.Weoffer:managersbecomebetterinvestorsandtoproducethought-provokingcontentforclients.
?Acomprehensivesetofinnovativesolutions
BLACKROCKVICECHAIRMANHEADOFECONOMICANDMARKETSRESEARCH
PhilippHildebrandJeanBoivin
?Globalmarketandinvestmentinsights
?Sophisticatedriskandportfolioanalytics
GLOBALCHIEFINVESTMENTSTRATEGISTEXECUTIVEEDITOR
RichardTurnillJackReerink
blackrock.com
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ThismaterialispreparedbyBlackRockandisnotintendedtoberelieduponasaforecast,researchorinvestmentadvice,andisnotarecommendation,offerorsolicitationtobuyorsellanysecuritiesortoadoptanyinvestmentstrategy.Theopinions
expressedareasofDecember2016andmaychangeassubsequentconditionsvary.TheinformationandopinionscontainedinthismaterialarederivedfromproprietaryandnonproprietarysourcesdeemedbyBlackRocktobereliable,arenotnecessarily
all-inclusiveandarenotguaranteedastoaccuracy.Assuch,nowarrantyofaccuracyorreliabilityisgivenandnoresponsibilityarisinginanyotherwayforerrorsandomissions(includingresponsibilitytoanypersonbyreasonofnegligence)isaccepted
byBlackRock,itsofficers,employeesoragents.Thismaterialmaycontain‘forward-looking’informationthatisnotpurelyhistoricalinnature.Suchinformationmayinclude,amongotherthings,projectionsandforecasts.Thereisnoguaranteethatany
forecastsmadewillcometopass.Relianceuponinformationinthismaterialisatthesolediscretionofthereader.Thismaterialisintendedforinformationpurposesonlyanddoesnotconstituteinvestmentadviceoranofferorsolicitationtopurchaseor
sellinanysecurities,BlackRockfundsoranyinvestmentstrategynorshallanysecuritiesbeofferedorsoldtoanypersoninanyjurisdictioninwhichanoffer,solicitation,purchaseorsalewouldbeunlawfulunderthesecuritieslawsofsuchjurisdiction.
IntheU.S.,thismaterialisintendedforpublicdistribution.IntheEUissuedbyBlackRockInvestmentManagement(UK)Limited(authorisedandregulatedbytheFinancialConductAuthority).Registeredoffice:12ThrogmortonAvenue,London,EC2N
2DL.RegisteredinEnglandNo.2020394.Tel:02077433000.Foryourprotection,telephonecallsareusuallyrecorded.BlackRockisatradingnameofBlackRockInvestmentManagement(UK)Limited.ThismaterialisfordistributiontoProfessional
Clients(asdefinedbytheFCARules)andQualifiedInvestorsandshouldnotberelieduponbyanyotherpersons.ForqualifiedinvestorsinSwitzerland,thismaterialshallbeexclusivelymadeavailableto,anddirectedat,qualifiedinvestorsas
definedintheSwissCollectiveInvestmentSchemesActof23June2006,asamended.IssuedinAustraliaandNewZealandbyBlackRockInvestmentManagement(Australia)LimitedABN13006165975AFSL230523(BIMAL)fortheexclusiveuse
oftherecipientwhowarrantsbyreceiptofthismaterialthattheyareawholesaleclientandnotaretailclientasthosetermsaredefinedundertheAustralianCorporationsAct2001(Cth)andtheNewZealandFinancialAdvisersAct2008respectively.This
materialcontainsgeneralinformationonlyanddoesnotconstitutefinancialproductadvice.Thismaterialhasbeenpreparedwithouttakingintoaccountanyperson’sobjectives,financialsituationorneeds.Beforemakinganyinvestmentdecisionbased
onthismaterial,apersonshouldassesswhethertheinformationisappropriatehavingregardtotheperson’sobjectives,financialsituationandneedsandconsulttheirfinancial,tax,legal,accountingorotherprofessionaladvisorabouttheinformation
containedinthismaterial.Thismaterialisnotintendedfordistributionto,orusebyanypersonorentityinanyjurisdictionorcountrywheresuchdistributionorusewouldbecontrarytolocallaworregulation.BIMAListheissueroffinancialproducts
andactsasaninvestmentmanagerinAustralia.BIMALdoesnotofferfinancialproductstopersonsinNewZealandwhoareretailinvestors(asthattermisdefinedintheFinancialMarketsConductAct2013(FMCA)).Thismaterialdoesnotconstituteor
relatetosuchanoffer.Totheextentthatthismaterialdoesconstituteorrelatetosuchanofferoffinancialproducts,theofferisonlymadeto,andcapableofacceptanceby,personsinNewZealandwhoarewholesaleinvestors(asthattermisdefinedin
theFMCA).BIMALisapartoftheglobalBlackRockGroupwhichcomprisesoffinancialproductissuersandinvestmentmanagersaroundtheworld.ThismaterialhasnotbeenpreparedspecificallyforAustralianorNewZealandinvestors.Itmaycontain
referencestodollaramountswhicharenotAustralianorNewZealanddollarsandmaycontainfinancialinformationwhichisnotpreparedinaccordancewithAustralianorNewZealandlaworpractices.BIMAL,itsofficers,employeesandagentsbelieve
thattheinformationinthismaterialandthesourcesonwhichtheinformationisbased(whichmaybesourcedfromthirdparties)arecorrectasatthedatespecifiedinthismaterial.Whileeverycarehasbeentakeninthepreparationofthismaterial,no
warrantyofaccuracyorreliabilityisgivenandnoresponsibilityforthisinformationisacceptedbyBIMAL,itsofficers,employeesoragents.Exceptwherecontrarytolaw,BIMALexcludesallliabilityforthisinformation.Pastperformanceisnotareliable
indicatoroffutureperformance.Investinginvolvesriskincludinglossofprincipal.NoguaranteeastothecapitalvalueofinvestmentsnorfuturereturnsismadebyBIMALoranycompanyintheBlackRockGroup.InSingapore,thisisissuedbyBlackRock
(Singapore)Limited(Co.registrationno.200010143N)foruseonlywithinstitutionalinvestorsasdefinedinSection4AoftheSecuritiesandFuturesAct,Chapter289ofSingapore.InHongKong,thismaterialisissuedbyBlackRockAssetManagement
NorthAsiaLimitedandhasnotbeenreviewedbytheSecuritiesandFuturesCommissionofHongKong.Thismaterialisfordistributionto‘ProfessionalInvestors’(asdefinedintheSecuritiesandFuturesOrdinance(Cap.571ofthelawsofHongKong)
andanyrulesmadeunderthatordinance)andshouldnotberelieduponbyanyotherpersonsorredistributedtoretailclientsinHongKong.InKorea,thismaterialisforProfessionalInvestorsonly.InJapan,thisisissuedbyBlackRockJapan.Co.,Ltd.
(FinancialInstrumentsBusinessOperator:TheKantoRegionalFinancialBureau.LicenseNo375,AssociationMemberships:JapanInvestmentAdvisersAssociation,TheInvestmentTrustsAssociation,Japan,JapanSecuritiesDealersAssociation,TypeII
FinancialInstrumentsFirmsAssociation.)forProfessionalInvestorsonly(ProfessionalInvestorisdefinedinFinancialInstrumentsandExchangeAct)andforinformationoreducationalpurposesonly,anddoesnotconstituteinvestmentadviceoranoffer
orsolicitationtopurchaseorsellsinanysecuritiesoranyinvestmentstrategies.InTaiwan,independentlyoperatedbyBlackRockInvestmentManagement(Taiwan)Limited.Address:28/F,No.95,TunHwaSouthRoad,Section2,Taipei106,Taiwan.Tel:
(02)23261600.InCanada,thismaterialisintendedforpermittedclientsonly.InLatinAmericaandIberia,thismaterialisforeducationalpurposesonlyanddoesnotconstituteinvestmentadvicenoranofferorsolicitationtosellorasolicitationofan
offertobuyanysharesofanyfund(norshallanysuchsharesbeofferedorsoldtoanyperson)inanyjurisdictioninwhichanoffer,solicitation,purchaseorsalewouldbeunlawfulunderthesecuritieslawofthatjurisdiction.Ifanyfundsarementionedor
inferredtointhismaterial,itispossiblethatsomeorallofthefundshavenotbeenregisteredwiththesecuritiesregulatorofBrazil,Chile,Colombia,Mexico,Panama,Peru,Portugal,Spain,UruguayoranyothersecuritiesregulatorinanyLatinAmerican
countryandthusmightnotbepubliclyofferedwithinanysuchcountry.Thesecuritiesregulatorsofsuchcountrieshavenotconfirmedtheaccuracyofanyinformationcontainedherein.
Theinformationprovidedhereisneithertaxnorlegaladvice.Investorsshouldspeaktotheirtaxprofessionalforspecificinformationregardingtheirtaxsituation.Investmentinvolvesriskincludingpossiblelossofprincipal.Internationalinvesting
involvesrisks,includingrisksrelatedtoforeigncurrency,limitedliquidity,lessgovernmentregulation,andthepossibilityofsubstantialvolatilityduetoadversepolitical,economicorotherdevelopments.Theserisksareoftenheightenedforinvestments
inemerging/developingmarketsorsmallercapitalmarkets.
?2016BlackRock,Inc.AllRightsReserved.BLACKROCKisaregisteredtrademarkofBlackRock,Inc.Allothertrademarksarethoseoftheirrespectiveowners.
Lit.No.BII-OUTLOOK-20177660A-BII-1116/BII-0224/BII-0225 |
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