iShares € Cash UCITS ETFIndex, costs, backtest, listings and taxation

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The Fund aims to provide a return in line with money market rates. This aim is consistent with maintaining capital and ensuring its underlying assets can easily be bought or sold in the market (in normal market conditions).

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Money invested in the Fund is not protected or guaranteed. The Fund will do this by maintaining a portfolio of high credit quality (according to the Investment Manager’s assessment of credit worthiness) fixed income securities (such as bonds) and money market instruments (i.e. debt securities with short term maturities) such as securities, instruments and obligations that may be available in the relevant markets (both within and outside the Eurozone). It may also invest in cash and in deposits with credit institutions (e.g. banks) and in units of other short term money market funds. The Fund will take into account environment, social and governance criteria when selecting investments as disclosed in the prospectus. The Fund’s assets may be issued or guaranteed by the governments of member states of the European Union (whether or not participating in EMU) or other sovereign governments, government agencies, companies and supranationals (e.g. the International Bank for Reconstruction and Development) and shall always be denominated in Euro. The Fund will limit its investment to assets which have 397 days or less remaining until the full principal must be repaid. At least 7.5% of the Fund’s assets will be daily maturing and at least 15% of the Fund’s assets will be weekly maturing (provided that units or shares in other money market funds may be included in the weekly maturity assets, up to 7.5%, provided they can be redeemed and settled within five working days). The Fund will maintain a weighted average maturity of 60 days or less and a weighted average life of 120 days or less. The Fund is a “Short Term Variable NAV Money Market Fund” as defined by the EU Money Markets Funds Regulations.

The Fund is actively managed. The investment manager has discretion to select the Fund’s investments. The Euro Short-Term Rate (ESTR) should be used by investors to compare the performance of the Fund. The investments of this Fund are valued using the mark-to-market method (i.e. a valuation based on current market prices) where possible, and if not, the mark-to-model method (i.e. a valuation based on a financial model) is used. The NAV is calculated to four decimal places and forms the dealing NAV. The Fund may use financial derivative instruments (FDIs) (i.e. investments the prices of which are based on one or more underlying assets) for investment purposes, to achieve the investment objective of the Fund, and/or to reduce risk within the Fund’s portfolio, reduce investment costs and generate additional income. The Fund may, via FDIs, generate varying amounts of market leverage (i.e. where the Fund gains market exposure in excess of the value of its assets).

The price of fixed income securities may be affected by changing interest rates which in turn may affect the value of your investment. Fixed income securities prices move inversely to interest rates. Therefore, the market value of fixed income securities may decrease as interest rates increase. The credit rating of an issuing entity will generally affect the yield that can be earned on fixed income securities; the better the credit rating the smaller the yield.

The return on your investment in the Fund is directly related to the value of the underlying assets of the Fund, less costs (see “What are the costs?” below). The relationship between the return on your investment, how it is impacted and the period for which you hold your investment is considered below (see “How long should I hold it, and can I take my money out early?”).

The depositary of the Fund is State Street Custodial Services (Ireland) Limited. Further information about the Fund can be obtained from the latest annual report and half-yearly reports of the iShares III plc. These documents are available free of charge in English and certain other languages. These can be found, along with other (practical) information, including prices of units, on the iShares website at: www.ishares.com or by calling +49 89427295800 or from your broker or financial adviser.

Your shares will be accumulating shares (i.e. income will be included in their value). Your shares will be denominated in Euro, the Fund's base currency. The shares are listed and traded on various stock exchanges. In normal circumstances, only authorised participants may buy and sell shares directly with the Fund. Investors who are not authorised participants (e.g. select financial institutions) can generally only buy or sell the shares on the secondary market (e.g. via a broker on a stock exchange) at the then prevailing market price. The value of the shares are related to the value of the underlying assets of the Fund, less costs (see “What are the costs?” below). The prevailing market price at which the shares trade on the secondary market may deviate from the value of the Shares. Indicative net asset value is published on relevant stock exchanges websites.

Intended retail investor:The Fund is intended for retail investors with the ability to bear losses up to the amount invested in the Fund (see “How long should I hold it and can I take my money out early?”).

Insurance benefits:The Fund does not offer any insurance benefits.

• BG Saxozero within the savings plan (buys)
• Finecozero on buys (single orders and savings plan) — promo list renewed monthly: check it is still listed
• XTBzero (up to €100,000 monthly volume, unreachable for a retail plan); fractions available in plans