The iShares Listed Private Equity UCITS ETF (IPRV) is an Ireland-domiciled equity ETF managed by BlackRock through its iShares platform. IPRV is a trading ticker for the fund on the London Stock Exchange.

IPRV seeks to track the S&P Listed Private Equity Index, a benchmark comprising listed private equity companies traded on developed-market exchanges that meet requirements related to size, liquidity, exposure, and business activity.

The benchmark includes companies whose businesses are related to private equity, including alternative asset managers, investment holding companies, and other businesses involved in acquiring, financing, and managing private companies.

The index uses a free float-adjusted market-capitalization-weighted methodology, with limits designed to reduce excessive concentration in individual constituents. It is periodically rebalanced according to rules established by S&P Dow Jones Indices.

Composition / Exposure Profile

IPRV's portfolio is concentrated in companies associated with the global private equity and alternative investment industry, including businesses involved in areas such as:

• Alternative asset management.

• Private equity.

• Investment holding companies.

• Capital markets.

• Financing and management of private businesses.

Geographic exposure spans developed markets across different regions. The United States and European countries represent significant portions of the investment universe, alongside other developed markets with eligible companies.

Although the ETF is associated with private equity, it does not invest directly in private companies. Exposure is obtained through publicly traded companies operating within the private equity industry. As a result, the fund's shares remain exposed to movements in public equity markets.

Structure and Costs

The fund and share class have the U.S. dollar as their base currency. The ETF has a total expense ratio (TER) of 0.75% per year, uses full physical replication, and is domiciled in Ireland. It operates as part of iShares II plc under the UCITS framework.

IPRV follows a distributing income policy, with distributions made semi-annually. Dividends and other income received from portfolio companies can therefore be periodically paid to shareholders.

History and Evolution of the ETF

The iShares Listed Private Equity UCITS ETF (IPRV) was launched in 2007 to provide exposure to the global private equity industry through publicly traded companies.

Since its launch, the fund has maintained a passive strategy linked to the S&P Listed Private Equity Index, tracking listed companies whose business activities are related to private-market investing.

Throughout its history, IPRV's performance has reflected factors including public equity-market cycles, merger and acquisition activity, financing conditions, interest rates, and changes in the global alternative investment environment.

Additional Information

iShares Listed Private Equity UCITS ETF (Ireland) is an exchange-traded fund (ETF), with assets under management totaling $1.01 billion.

Over the past 12 months, iShares Listed Private Equity UCITS ETF recorded a return of -8.74%, with its price trading between $28.96 and $37.11 during the same period.

The ETF is traded under the ticker IPRV.