SEC Company Response from iSHARES TRUST (CIK 0001100663) — Sep 24, 2004
iSHARES TRUST (CIK 0001100663)
Date: Sept. 24, 2004 · CIK: 0001100663 · Accession: 0001193125-04-161418
AI Filing Summary & Sentiment
File numbers found in text: 333-92935, 811-09729
Letter
VIA EDGAR CORRESPONDENCE 450 Fifth Street, N.W. Washington, DC 20549 Re: iShares Trust – KLD Select SocialSM Index Fund Post Effective Amendment No. 32 (File Nos. 333-92935 and 811-09729)
Dear Mr. O’Connor:
This letter responds to your comments to iShares Trust’s (the “Trust”) July 15, 2004 Post Effective Amendment (“PEA”) No. 32 filing introducing the KLD Select SocialSM Index Fund (the “Fund”), a series of the Trust. Below is a summary of your comments, as well as our response to those comments. Unless otherwise noted, capitalized terms have the same meaning as contained in the Trust’s PEA.
1. Comment. Please confirm that the Fund reserves the right to invest in ADRs based on component securities of the Underlying Index (“Component Securities”).
Response. The disclosure in question is general disclosure that applies to other funds in the Trust that principally invest in non-U.S. securities. Currently, the Fund’s Underlying Index does not contain non-U.S. Component Securities and, thus, there are no ADRs based on Component Securities. Nonetheless, because the Fund’s prospectus will be part of a multi-fund prospectus, and the disclosure in question is introductory and general in nature, we would propose to keep the disclosure as it is currently written.
2. Comment. In the disclosure related to Section 12(d)(1) of the Investment Company Act of 1940, please amend the disclosure to clarify that investment companies may purchase shares of the Fund beyond the 12(d)(1) limits, subject to certain terms and conditions, including that such investment companies enter into an agreement with the Fund regarding the terms of the investment.
Mr. James E. O’Connor
September 24, 2004
Page 2
Response. We have not made the requested change. With respect to investment company investors, we believe that the important fact is that an investment company must first enter into an agreement with the Fund, not the nature of the agreement. With respect to all other investors, we do not believe that this is important disclosure.
We appreciate your efforts in promptly providing comments on this post-effective amendment. If you have any additional comments or questions, please call me at 202-739-5654 or Karen A. Aspinall at 202-739-5355 .
Sincerely,
/s/ W. JOHN
MCGUIRE
Show Raw Text
CORRESP 1 filename1.htm SEC Comment Response Letter Morgan, Lewis & Bockius LLP 1111 Pennsylvania Avenue, N.W. Washington, D.C. 20004 Tel: 202.739.3000 Fax: 202.739.3001 www.morganlewis.com W. John McGuire 202.739.5856 wjmcguire@morganlewis.com September 24, 2004 VIA EDGAR CORRESPONDENCE Mr. James E. O’Connor U.S. Securities and Exchange Commission Judiciary Plaza 450 Fifth Street, N.W. Washington, DC 20549 Re: iShares Trust – KLD Select SocialSM Index Fund Post Effective Amendment No. 32 (File Nos. 333-92935 and 811-09729) Dear Mr. O’Connor: This letter responds to your comments to iShares Trust’s (the “Trust”) July 15, 2004 Post Effective Amendment (“PEA”) No. 32 filing introducing the KLD Select SocialSM Index Fund (the “Fund”), a series of the Trust. Below is a summary of your comments, as well as our response to those comments. Unless otherwise noted, capitalized terms have the same meaning as contained in the Trust’s PEA. 1. Comment. Please confirm that the Fund reserves the right to invest in ADRs based on component securities of the Underlying Index (“Component Securities”). Response. The disclosure in question is general disclosure that applies to other funds in the Trust that principally invest in non-U.S. securities. Currently, the Fund’s Underlying Index does not contain non-U.S. Component Securities and, thus, there are no ADRs based on Component Securities. Nonetheless, because the Fund’s prospectus will be part of a multi-fund prospectus, and the disclosure in question is introductory and general in nature, we would propose to keep the disclosure as it is currently written. 2. Comment. In the disclosure related to Section 12(d)(1) of the Investment Company Act of 1940, please amend the disclosure to clarify that investment companies may purchase shares of the Fund beyond the 12(d)(1) limits, subject to certain terms and conditions, including that such investment companies enter into an agreement with the Fund regarding the terms of the investment. Mr. James E. O’Connor September 24, 2004 Page 2 Response. We have not made the requested change. With respect to investment company investors, we believe that the important fact is that an investment company must first enter into an agreement with the Fund, not the nature of the agreement. With respect to all other investors, we do not believe that this is important disclosure. We appreciate your efforts in promptly providing comments on this post-effective amendment. If you have any additional comments or questions, please call me at 202-739-5654 or Karen A. Aspinall at 202-739-5355 . Sincerely, /s/ W. JOHN MCGUIRE W. John McGuire cc: Richard F. Morris, Esq. Karen A. Aspinall, Esq.