To achieve its objective, the Fund invests in an equally weighted
portfolio of United Kingdom/United States domiciled iShares ETFs.
The iShares ETFs in which the Fund invests employ indexing
strategies that provide exposure to innovative, technology focused
companies.

The Fund aims to provide investors with the performance of the equally weighted return of the various indices of the Underlying Funds in which the Fund invests, before fees and expenses. The Underlying Funds are ETFs that invest in disruptive, technology themed companies driving innovation and providing solutions to global challenges.

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:
► who is seeking capital growth
► using the product for a core component of their portfolio
or less
► with a minimum investment timeframe of 5 years, and
► with a high to very high risk/return profile

What does the Fund invest in?

The Fund will generally be exposed to international equity securities in alignment with the above indexes weighted equally.
The Fund may have limited exposure to securities that do not directly form part of the strategy, including derivatives, where such securities provide similar performance (with matching risk profile) to the held ETFs.

The Fund may also hold small amounts of cash (or cash equivalents, that may include units in other BlackRock funds) for cash flow management purposes and may also invest in index futures contracts for cash equitisation purposes.

The Fund obtains exposure to the aforementioned securities either:
► directly, by investing in such securities; or
► indirectly, by investing in the Underlying Funds, which
invest in such securities. 

Labour standards, environmental, social or ethical considerations

The table below contains further details of some of the key screens applied by the index provider (including any specific threshold criteria if applicable). This table sets out a summary only. Revenue thresholds for certain aspects of an activity may be lower than shown below, and additional screens may apply. 

                               Exclusion Criteria         

Companies are screened/excluded based on following criteria as
identified by Sustainalytics:
► Sustainalytics’ Global Standards Screening Non
Compliance (GSS): GSS provides an assessment of a
company’s impact on stakeholders and the extent to which
a company causes, contributed, or is linked to violations of
international norms and standards. The basis of the GSS
assessment is the United Nations Global Compact (UNGC)
Principles.
► Controversy Rating: STOXX will exclude companies that
Sustainalytics identifies to have a Controversy Rating of
Category 5 (Severe). Sustainalytics assesses companies’
involvement in incident with negative environmental,
social and governance (ESG) implications. Controversy is
one key measure of ESG performance. A controversy is
defined as an event or aggregation of events relating to an
ESG topic.
An event is assessed on its severity on a scale of 1 to 5 (1-Low, 2-
Moderate, 3-Significant, 4-High, 5-Severe). The highest Event
rating under a controversy indicator, automatically becomes the
Controversy Rating for a given company.
► Business Involvement: Additional exclusion filters are
incorporated, screening companies for involvement (based on
revenue thresholds from direct activities or ownership of
subsidiaries) in controversial weapons, weapons,
unconventional oil & gas, conventional oil & gas, thermal coal,
nuclear power and tobacco.
These screens are explained in more detail in the index
methodology document available on the STOXX website.
In addition to above, for iShares Smart City Infrastructure UCITS ETF,
companies are screened/excluded based on following criteria as
identified by Sustainalytics:
► ESG Risk Rating: STOXX will exclude companies that have a
“Severe” ESG Risk Rating, reflecting the highest level of
unmitigated ESG risk
► Combination of ESG Risk Ratings and Controversy Ratings:
STOXX will exclude companies with a “High” ESG Risk Rating, that
also have a Controversy Rating of Category 2 or higher (i.e.
Moderate, Significant or High)
iShares Global Clean Energy ETF
► Sustainalytics’ Global Standards Screening Non-Compliance
(GSS): GSS provides an assessment of a company’s impact on
stakeholders and the extent to which a company causes,
contributed, or is linked to violations of international norms and
standards. The basis of the GSS assessment is the United Nations
Global Compact (UNGC) Principles. Companies that are noncompliant with GSS are excluded.
► Business Involvement: Additional exclusion filters are
incorporated, screening companies for involvement (based on
revenue thresholds from direct activities or ownership of
subsidiaries) in controversial weapons, military contracting,
small arms, tobacco, thermal coal, oil sands, shale energy, artic
oil & gas exploration. The level of business involvement is
determined by Sustainalytics.
► Controversies: S&P Global uses RepRisk, a leading provider of
business intelligence on environmental, social, and governance
risks, for daily filtering, screening and analysis of controversies
related to companies within the index. In cases where risks are
presented, S&P Global releases a Media and Stakeholder
Analysis (“MSA”) which includes a range of issues such as
economic crime and corruption, fraud, illegal commercial
practices, human rights issues, labour disputes, workplace
safety, catastrophic accidents, and environmental disasters. The
Index Committee will review constituents that have been flagged
by S&P Global’s MSA to evaluate the potential impact of
controversial company activities on the composition of the
indices. If the Index Committee decides to remove a company in
question, that company would not be eligible for re-entry into
the indices for one full calendar year beginning with the
subsequent rebalancing.
Please refer to section 25.8 of this PDS (including the section titled
‘Information about exclusionary screens’) for further information about
how BlackRock incorporates ESG considerations for the Fund

The Fund will generally be exposed to international equity securities in
alignment with the above indexes weighted equally.
The Fund may have limited exposure to securities that do not directly
form part of the strategy, including derivatives, where such securities
provide similar performance (with matching risk profile) to the held
ETFs.
The Fund may also hold small amounts of cash (or cash equivalents, that
may include units in other BlackRock funds) for cash flow management
purposes and may also invest in index futures contracts for cash
equitisation purposes. The Fund obtains exposure to the aforementioned securities either:
► directly, by investing in such securities; or
► indirectly, by investing in the Underlying Funds, which
invest in such securities.