Exhibit 793 ยท Contract
Secondary Market Corporate Credit Facility Investment Management Agreement between Corporate Credit Facilities LLC and BlackRock Financial Markets Advisory (with exhibits)
The Manager shall treat BlackRock-sponsored ETFs on the same neutral footing as ETFs sponsored by other entities.
Published by the New York Fed (66 pages, stamped "Cleared for Release"). Sec. 1.2 (p. 2): the Manager "will act as a fiduciary to the Company." Exh. A-2 (p. 42): BlackRock-sponsored ETFs are treated on the same neutral footing as others, and if holdings exceed BlackRock's market share of the corporate bond ETF market the Manager must notify and consult FRBNY, which may direct adjustments. Exh. D (p. 54): the Manager may not charge fees on the Company's ETF holdings, including BlackRock ETFs, and reduces its fee by BlackRock revenues from BlackRock ETFs and money market funds held. Fixed fee $2,000,000 for Q2 2020, $1,000,000 for Q3 2020, $750,000 a quarter after; asset-based fee of 2.5 basis points on the first $10 billion, declining. Exh. G: information barrier and conflicts mitigation procedures. The Agreement is dated 11 May 2020; the retention was announced 24 March 2020.
- Source
- Federal Reserve Bank of New York
- Date
- 11 May 2020
- Quoted from
- Exh. A-2 (Operating Guidelines), p. 42 of 66
- Grade
- Primary record
- Document
- https://www.newyorkfed.org/medialibrary/media/markets/SMCCF_Investment_Management_Agreement.pdf
- Accessed
- 2026-11-09
- Cited by
- Findings citing this exhibit