The Fund seeks to achieve its objective by tracking the performance 
of the S&P Global 1200 Health Care Sector Net TR IndexTM (AUD) 
(referred to in this section 16 of the PDS as the Index).

The Fund aims to provide investors with the performance of an index, before fees and expenses. The index is designed to measure the performance of global biotechnology, healthcare, medical equipment and pharmaceuticals companies and may include large-, mid- or small capitalisation stocks. 

Benefits of iShares

iShares ETFs are managed funds listed or quoted on exchanges (including ASX) providing you with the opportunity to gain exposure to a diversified portfolio of assets in a single transaction.

The significant benefits of investing in the Funds include:

• low cost access to diversified portfolios of international shares;

• access to market capitalisation weighted, minimum volatility and multiple-factor exposures; and

• currency hedged options, to seek to minimise the impact of Australian dollar volatility on investor returns.

Other benefits of investing in iShares ETFs generally include:

• Diversification: In contrast to a direct investment in a single company or bond, an iShares ETF provides, as far as possible and practicable, exposure to all of the securities or instruments within the index that the particular iShares ETF seeks to track.

• Access global markets: iShares ETFs let you achieve international diversification by investing in overseas equity and bond markets. With iShares ETFs you can gain exposure by asset class, market capitalisation, country and sector.

• Liquidity and transparency: Each iShares ETF seeks investment results that correspond generally to the performance (before fees and expenses) of a particular index. As a traded security, an iShares ETF enables you to enter and exit your holding on the ASX. You can easily track performance and trade during ASX trading hours (subject to ASX rules).

• Managing risk: Investing in an iShares ETF can assist you in establishing a portfolio appropriate to your investment needs and risk profile.

• Lower cost: As each iShares ETF is passively managed and designed to track the performance of a particular index, the expenses of managing an iShares ETF are generally lower compared to other forms of retail managed funds. However, brokerage or adviser fees may still apply when buying or selling units of an iShares ETF.

• Receipt of income: You will generally receive income from your investment in the form of distributions. Distributions may include dividends, coupons and other income. There may be years in which no distributions are made.

• Accessibility: iShares ETFs can offer a cost-effective way to gain exposure to a diversified portfolio of securities. They can be less costly than purchasing a large number of individual securities as there are less trading costs and they offer lower thresholds than an investor might otherwise be able to afford.

This product is likely to be appropriate for a consumer seeking 
capital growth with a high to very high risk/return profile. 

About the Fund

The fund seeks to track the investment results of an index composed of global equities in the healthcare sector. 

The index, the S&P Global 1200 Healthcare Sector Index, may include large-, mid- or small-capitalisation companies and components primarily include biotechnology, healthcare, medical equipment and pharmaceuticals companies.

Why IXJ?

1. Exposure to pharmaceutical, biotechnology, and medical device companies 
2. Targeted access to healthcare stocks from around the world in a single fund 
3. Use to express a global sector view

How we invest your money

The Fund seeks to achieve its objective by tracking the performance of the S&P Global 1200 Health Care Sector Net TR Index (AUD) (referred to as the Index).

We believe that an optimisation investment strategy is the most appropriate investment strategy to track the performance of the Index as it takes into account liquidity and transaction cost impact and overall risk relative to the Index. Optimisation is an indexing strategy that involves investing in a representative sample of securities that collectively has an investment profile similar to that of the Index. The securities selected are expected to have, in aggregate, investment characteristics (based on factors such as market capitalisation and industry weightings), fundamental characteristics (such as return variability and yield) and liquidity measures similar to those of the Index. Therefore, the securities to which each Fund is exposed may or may not include all of the securities in its Index and the weighting of such securities may differ to the weighting of securities in the Index.

The Fund implements its optimisation investment strategy through an investment in a US domiciled version of the Fund, also called iShares Global Healthcare ETF (referred to as the Underlying Fund). Refer to the section of the PDS titled "The Underlying Funds for further information on the Underlying Fund.

What does the Fund invest in?

The Fund is generally exposed to the international health care equity securities that form the Index and in depositary receipts representing securities of the Index.

The Fund may have limited exposure to securities that are not constituents of the Index, including derivatives, where such securities provide similar performance (with matching risk profile) to Index securities. However, from time to time the Fund may be exposed to all constituents of the Index.

The Fund obtains exposure to the aforementioned securities indirectly, by investing in the Underlying Fund, which invests in such securities.

Generally, the Fund and Underlying Fund may also be exposed to a small allocation of cash (or cash equivalents, that may include other BlackRock Group funds) for cash flow management purposes.

About the Index

The Index consists of all constituents of the S&P Global 1200 Index that are classified within the GICS health care sector.

The S&P Global 1200 is a float-adjusted, market capitalisation weighted index that includes the largest most liquid equity securities from around the world. The S&P Global 1200 is composed of seven component indices, representing seven distinct regions and covers 30 countries.

For more information please see Section 13 of the PDS