(Source: MARKETWIRE)
Today the previously announced transaction between Barclays PLC, the
ultimate parent company of Barclays Global Investors International
Inc., the Sponsor (the "Sponsor") of the iShares COMEX Gold Trust
(the "Trust") and BlackRock, Inc. (the "BlackRock Transaction"),
including the acquisition of the Sponsor of the Trust and certain of
the Sponsor's affiliated companies by BlackRock, Inc. was
consummated.
In connection with the BlackRock Transaction, the name of the Sponsor
was changed from Barclays Global Investors International Inc. to
BlackRock Asset Management International Inc.
It is not expected that the BlackRock Transaction will materially
affect the Trust, its shareholders, or an investment in its shares.
Investing involves risk, including possible loss of principal. The
iShares COMEX Gold Trust ("Trust") is not an investment company
registered under the Investment Company Act of 1940 or a commodity
pool for purposes of the Commodity Exchange Act. Shares of the Trust
are not subject to the same regulatory requirements as mutual funds.
Because shares of the Trust are created to reflect the price of the
gold held by the trust, the market price of the shares will be as
unpredictable as the price of gold has historically been.
Additionally, shares of the Trust are bought and sold at market price
(not NAV). Brokerage commissions will reduce returns.
Shares of the Trust are created to reflect, at any given time, the
market price of gold owned by the trust at that time less the trust's
expenses and liabilities. The price received upon the sale of the
shares, which trade at market price, may be more or less than the
value of the gold represented by them. If an investor sells the
shares at a time when no active market for them exists, such lack of
an active market will most likely adversely affect the price received
for the shares. For a more complete discussion of the risk factors
relative to the iShares COMEX(R) Gold Trust, carefully read the
prospectus.
Following an investment in shares of the Trust, several factors may
have the effect of causing a decline in the prices of gold and a
corresponding decline in the price of the shares. Among them: (i)
Large sales by the official sector. A significant portion of the
aggregate world gold holdings is owned by governments, central banks
and related institutions. If one or more of these institutions
decides to sell in amounts large enough to cause a decline in world
gold prices, the price of the shares will be adversely affected.
