Interim report and unaudited financial statements

Interim report and unaudited financial statements iSHARES PLC

For the financial period ended 31 August 2018

iSHARES PLC

Contents Overview General information

2

Background

4

Performance Investment Manager’s report

7

Financial Statements Condensed income statement

16

Condensed statement of changes in net assets attributable to redeemable participating shareholders

26

Condensed balance sheet

36

Notes to the unaudited financial statements

46

Schedules of investments

90

Additional Information and Regulatory Disclosures Schedules of material purchases and sales

495

Calendar year performance

537

Transactions with connected parties

539

Leverage

539

Supplementary Information

540

Glossary

575

Disclaimers

576

This interim report and unaudited financial statements (the “Report and Accounts”) may be translated into other languages. Any such translation shall only contain the same information and have the same meaning as the English language Report and Accounts. To the extent that there is any inconsistency between the English language Report and Accounts and the Report and Accounts in another language, the English language Report and Accounts will prevail, except to the extent (and only to the extent) that it is required by law of any jurisdiction where the shares are sold, that in an action based upon disclosure in a Report and Accounts in a language other than English, the language of the Report and Accounts on which such action is based shall prevail. Any disputes as to the terms of the Report and Accounts, regardless of the language of the Report and Accounts, shall be governed by and construed in accordance with the laws of Ireland.

iSHARES PLC INTERIM REPORT

[1]

iSHARES PLC

General information 1

Board of Directors

Sub-Investment Managers (continued)

Paul McNaughton (Chairman) (Irish)

BlackRock (Singapore) Limited

Paul McGowan (Irish)

20 Anson Road

Barry O'Dwyer (Irish)

#18-01

Teresa O'Flynn (Irish)

Singapore 079912

David Moroney (Irish)

Singapore

Jessica Irschick (British) BlackRock Asset Management North Asia Limited Audit Committee Members

16/F Champion Tower

Paul McGowan (Chairman)

Three Garden Road

Paul McNaughton

Central Hong Kong

Nomination Committee Members Paul McNaughton (Chairman)

BlackRock Asset Management Deutschland AG

Paul McGowan

Lenbachplatz 1 1st Floor

Barry O'Dwyer

Munich 80333-MN3 Germany

Manager BlackRock Asset Management Ireland Limited

Depositary

J.P. Morgan House

State Street Custodial Services (Ireland) Limited

International Financial Services Centre

78 Sir John Rogerson’s Quay

Dublin 1

Dublin 2

Ireland

Ireland

Administrator and Registrar

Registered office of the Company

State Street Fund Services (Ireland) Limited

J.P. Morgan House

78 Sir John Rogerson’s Quay

International Financial Services Centre

Dublin 2

Dublin 1

Ireland

Ireland

Company Secretary

Legal Advisors to the Company

Sanne Corporate Administration Services Ireland Limited

William Fry

Fourth Floor

2 Grand Canal Square

76 Baggot Street Lower

Dublin 2

Dublin 2

Ireland

Ireland Independent Auditors Investment Manager, Promoter and Securities Lending Agent

PricewaterhouseCoopers

BlackRock Advisors (UK) Limited

Chartered Accountants and Registered Auditors

12 Throgmorton Avenue

One Spencer Dock

London EC2N 2DL

North Wall Quay

England

Dublin 1 Ireland

Sub-Investment Managers BlackRock Financial Management Inc.

Paying Agent

40 East 52nd Street

Citibank N.A., London Branch

New York

Citigroup Centre

NY 10022

25 Canada Square

United States

Canary Wharf London E14 5LB England

1

All Directors are non-executive Directors.

[2]


iSHARES PLC

General information (continued) Representative in Switzerland

German Information Agent

BlackRock Asset Management Schweiz AG

State Street Bank International GmbH

Bahnhofstrasse 39

Briennerstrasse 59

8001 Zurich

80333 Munich

Switzerland

Germany

Paying Agent in Switzerland

Austrian Paying and Information Agent

State Street Bank International GmbH

UniCredit Bank Austria AG

Munich

Attn: 8398/Custody

Zurich Branch

Julius Tandler Platz 3

Beethovenstrasse 19

1090 Vienna

CH-8027 Zurich

Austria

Switzerland The Company is duly registered with the Comisión Nacional del Mercado de Valores in Spain under number 801.


[3]

iSHARES PLC

Background iShares public limited company (the “Company”) is organised as an open-ended Investment Company with variable capital (an "Investment Company"). The Company was incorporated in Ireland on 21 January 2000 with limited liability and segregated liability between its Funds and is organised under the laws of Ireland as a Public Limited Company (“PLC”) pursuant to the Companies Act 2014 (as amended) and the European Communities (Undertakings for Collective Investment in Transferable Securities) Regulations, 2011 (as amended) (the “UCITS Regulations”) and is regulated by the Central Bank of Ireland ("CBI"). The term “Fund” shall be deemed to mean either a fund of the Company, or if the context so requires, the Manager or its delegate acting for the account of the relevant Fund. The term “BlackRock” is used to represent BlackRock Advisors (UK) Limited. The investment objectives and policies of each Fund are set out in the prospectus. The Company is structured as an umbrella Fund and comprises separate Funds (“Funds”) of the Company. Each Fund of the Company comprises a distinct portfolio of Investments. The shares of each Fund may be issued with different rights, features and on different terms and conditions to those of other Funds. Shares of a Fund may be divided into different share classes with different dividend policies, currency hedging and valuation currencies and may therefore have different fees and expenses. A currency hedged share class is a share class of a Fund which allows the use of hedging transactions to reduce the effect of exchange rate fluctuations. Unhedged share classes are also available to investors. The Company may issue currency hedged share classes in Funds that are not currency hedged Funds. Currency hedged Funds are identified on the Fund details table on pages 5 and 6. While assets and liabilities that are specific to a share class within a Fund would be attributable to (and should be borne by) only that share class, there is no segregation of liabilities between share classes as a matter of Irish law. Due to the lack of segregation of liabilities, there is a risk that the creditors of a share class may bring a claim against the assets of the Fund notionally allocated to other share classes. The financial instruments and risks section of the financial statements provides more details on the management of foreign currency risk in relation to the currency hedged share classes. The Investment Manager may use derivatives (for example, forward currency contracts, futures contracts, options and swaps, or such other instruments as are permitted) to hedge the rate of exchange between the currency of all or some of the currencies in which the assets of a Fund (including cash and income) are denominated and the share class valuation currencies. The transactions, costs and related liabilities and benefits arising from instruments entered into for the purposes of hedging the currency exposure for the benefit of any particular currency hedged share classes shall be attributed only to the relevant currency hedged share classes. Currency exposures of different share classes may not be combined or offset and currency exposures of the assets of a Fund may not be allocated to separate share classes.

Changes to the Company On 31 May 2018, an updated prospectus was issued by the Company to revise the Total Expense Ratio ("TER") for iShares Core MSCI EM IMI UCITS ETF from 0.25% to 0.18% for both the USD (Acc) and USD (Dist) classes. New share classes were launched on the following Funds during the financial period as detailed in the below table: Fund iShares Core MSCI EM IMI UCITS ETF

Share Class USD (Dist)

Launch Date 12 March 2018

iShares $ Corp Bond UCITS ETF

GBP Hedged (Dist)

23 March 2018

iShares Global Corp Bond UCITS ETF

GBP Hedged (Dist)

23 March 2018

iShares $ Treasury Bond 1-3yr UCITS ETF

EUR Hedged (Acc)

12 April 2018


GBP Hedged (Dist)

12 April 2018


USD (Acc)

14 May 2018

iShares $ Corp Bond Interest Rate Hedged UCITS

USD (Acc)

03 July 2018

[4]


iSHARES PLC

Background (continued) Potential implication of Brexit In a referendum held on 23 June 2016, the electorate of the United Kingdom ("UK") resolved to leave the European Union ("EU"). The result has led to political and economic instability and volatility in the financial markets of the UK and more broadly across Europe. It may also lead to weakening in consumer, corporate and financial confidence in such markets as the UK negotiates its exit from the EU. The longer term process to implement the political, economic and legal framework between the UK and the EU is likely to lead to continuing uncertainty and periods of exacerbated volatility in both the UK and in wider European markets. This mid to long term uncertainty may have an adverse effect on the economy generally and on the ability of the Company and its investments to execute their respective strategies and to receive attractive returns, and may also result in increased costs to the Company.

Fund details There were 39 Funds in operation at 31 August 2018. The investment objective of the Funds is to provide investors with a total return, taking into account the capital and income returns, which reflect the total returns of the respective benchmark listed in the table below and overleaf:

Fund iShares $ Corp Bond Interest Rate Hedged UCITS ETF

Benchmark Index Markit iBoxx USD Liquid Investment Grade Interest Rate

Investment Management Approach*

Hedged Index

Non-replicating


Markit iBoxx USD Liquid Investment Grade Index

Non-replicating


ICE U.S. Treasury 1-3 Year Bond Index

Non-replicating

iShares € Corp Bond Large Cap UCITS ETF

Markit iBoxx EUR Liquid Corporates Large Cap Index

Non-replicating

iShares € Govt Bond 1-3yr UCITS ETF

Bloomberg Barclays Euro Government Bond 1-3 Year Term Index

Non-replicating

iShares € High Yield Corp Bond UCITS ETF

Markit iBoxx Euro Liquid High Yield Index

Non-replicating

iShares € Inflation Linked Govt Bond UCITS ETF

Bloomberg Barclays Euro Government Inflation Linked Bond Index

Non-replicating

iShares £ Corp Bond 0-5yr UCITS ETF

Markit iBoxx GBP Corporates 0-5 Index

Non-replicating

iShares AEX UCITS ETF

AEX-Index®

Replicating

iShares Asia Pacific Dividend UCITS ETF

Dow Jones Asia/Pacific Select Dividend 30 Index

Replicating

iShares China Large Cap UCITS ETF

FTSE China 50 Index

Replicating

iShares Core £ Corp Bond UCITS ETF

Markit iBoxx GBP Liquid Corporates Large Cap Index

Non-replicating

iShares Core FTSE 100 UCITS ETF

FTSE 100 Index

Replicating

iShares Core MSCI EM IMI UCITS ETF

MSCI Emerging Markets Investable Market Index (IMI)

Non-replicating

iShares Euro Dividend UCITS ETF

EURO STOXX Select Dividend 30 Index

Replicating

iShares EURO STOXX Mid UCITS ETF

EURO STOXX Mid Index

Non-replicating

iShares EURO STOXX Small UCITS ETF

EURO STOXX Small Index

Non-replicating

iShares Euro Total Market Growth Large UCITS ETF

EURO STOXX Total Market Growth Large Index

Replicating

iShares Euro Total Market Value Large UCITS ETF

EURO STOXX Total Market Value Large Index

Replicating

iShares European Property Yield UCITS ETF

FTSE EPRA/NAREIT Developed Europe ex UK Dividend+ Index

Replicating

iShares FTSE 250 UCITS ETF

FTSE 250 Index

Non-replicating

iShares FTSEurofirst 80 UCITS ETF

FTSEurofirst 80 Index

Replicating


FTSEurofirst 100 Index

Replicating


Bloomberg Barclays Global Aggregate Corporate Bond Index

Non-replicating

* Please refer to the Investment Manager’s report for further information on the meaning of replicating and non-replicating Funds.


[5]

iSHARES PLC

Background (continued) Fund details (continued)

Fund iShares Global High Yield Corp Bond UCITS ETF

Benchmark Index

Investment Management Approach*

Markit iBoxx Global Developed Markets Liquid High Yield Capped Index

Non-replicating

iShares MSCI AC Far East ex-Japan UCITS ETF

MSCI AC Far East ex-Japan Index

Non-replicating

iShares MSCI Brazil UCITS ETF USD (Dist)

MSCI Brazil Index

Replicating

iShares MSCI Eastern Europe Capped UCITS ETF

MSCI EM Eastern Europe 10/40 Index

Non-replicating

iShares MSCI EM UCITS ETF USD (Dist)

MSCI Emerging Markets Index

Non-replicating

(Dist)^

MSCI Europe ex UK 100% Hedged to GBP Index

Non-replicating

iShares MSCI Europe ex-UK UCITS ETF

MSCI Europe ex-UK Index

Non-replicating

iShares MSCI Japan UCITS ETF USD (Dist)

MSCI Japan Index

Replicating

iShares MSCI Japan USD Hedged UCITS ETF (Acc)^

MSCI Japan 100% Hedged to USD Net TR Index

Non-replicating

iShares MSCI Korea UCITS ETF USD (Dist)

MSCI Korea Index

Replicating

iShares MSCI North America UCITS ETF

MSCI North America Index

Non-replicating

iShares MSCI Taiwan UCITS ETF

MSCI Taiwan Index

Replicating

iShares MSCI World UCITS ETF

MSCI World Index

Non-replicating

iShares MSCI Europe ex-UK GBP Hedged UCITS ETF

iShares S&P 500 UCITS ETF

S&P 500

Non-replicating

iShares UK Dividend UCITS ETF

FTSE UK Dividend+ Index

Replicating

* Please refer to the Investment Manager’s report for further information on the meaning of replicating and non-replicating Funds. ^ Currency hedged Fund.

All figures relating to each Fund/Share class are shown in the relevant functional currency. The financial statements of the Company are presented in Sterling. These Funds are Exchange Traded Funds (“ETFs”), which provide the flexibility of a share with the diversification of a Fund. They can be bought and sold like any other share listed on a stock exchange, but provide instant exposure to many companies or various financial instruments relevant to the Fund and its benchmark index.

Stock exchange listings The Company maintained a primary listing on the London Stock Exchange (“LSE”).

[6]


iSHARES PLC

Investment Manager’s report INVESTMENT OBJECTIVE The investment objective of the Funds is to provide investors with a total return, taking into account the capital and income returns, which reflect the total returns of the respective benchmark listed in Fund details in the Background section.

FUND PERFORMANCE AND TRACKING ERROR The Fund performance figures are the aggregated net monthly returns based on the Net Asset Value ("NAV") calculated in accordance with the prospectus for the financial period under review. Due to Financial Reporting Standard ("FRS") 102 requirements which apply to the financial statements, there may be differences between the NAV per share as recorded in the financial statements and the NAV per share calculated in accordance with the prospectus. The returns are net of the TER. Realised tracking error is the annualised standard deviation of the difference in monthly returns between a Fund and its benchmark index. Tracking error shows the consistency of the returns relative to the benchmark index over a defined period of time. Tracking error is based on the NAV calculated in accordance with the prospectus. Anticipated tracking error is based on the expected volatility of differences between the returns of a Fund and the returns of its benchmark index. For physically replicating Funds, the investment management approach is to buy a portfolio of securities that as far as practicable consist of the securities that make up the benchmark index, in similar proportion to the weights represented in the benchmark index. For non-replicating Funds, the investment management approach aims to match the main risk characteristics of the benchmark index by investing in a portfolio that is primarily made up of securities that represent the benchmark index. The objective is to generate a return which is as close as practicable to the total return of the index net of transaction costs, gross of fees and other costs. Cash management, efficient portfolio management techniques including securities lending, transaction costs from rebalancing and currency hedging can have an impact on tracking error as well as the return differential between a Fund and its benchmark index. Importantly, these impacts can be either positive or negative depending on the underlying circumstances. Each Fund’s TER is accrued on a daily basis throughout the financial period, which can impact the measurement of a tracking error in a positive or negative manner depending on the performance in the market and the TER rate applied. The extent and magnitude of this effect on performance measurement is subject to the timing of the market performance relative to the performance period and can be greater than the headline TER in a positive market and lower than the TER in a negative market. In addition to the above, the Funds may also have a tracking error due to withholding tax suffered by the Funds on any income received from its investments. The level and quantum of tracking error arising due to withholding taxes depends on various factors such as any reclaims filed on behalf of the Funds with various tax authorities, any benefits obtained by the Funds under a tax treaty or any securities lending activities carried out by the Funds. The following table compares the realised performance of the Funds against the performance of the relevant benchmark index during the financial period ended 31 August 2018 and the anticipated tracking error of the Funds (disclosed in the prospectus on an ex-ante basis) against the actual realised tracking error of the Funds as at 31 August 2018. The realised tracking error is annualised and calculated using data from the preceding 36 month observation period.

Fund

Fund

Benchmark

return for the

return for the

financial period ended


Anticipated

Realised

31/08/2018

31/08/2018

tracking error

tracking error

%

%

%

%

(0.56)

(0.43)

Up to 0.300

0.12

0.38

0.42

Up to 0.300

0.11

iShares $ Corp Bond Interest Rate Hedged UCITS ETF iShares $ Corp Bond UCITS ETF


[7]

iSHARES PLC

Investment Manager’s report (continued) FUND PERFORMANCE AND TRACKING ERROR (continued)

Fund iShares $ Treasury Bond 1-3yr UCITS ETF

Fund

Benchmark

return for the

return for the



Anticipated

Realised

31/08/2018

31/08/2018

tracking error

tracking error

%

%

%

%

0.69

0.73

Up to 0.050

0.02


(0.02)

0.02

Up to 0.200

0.08


(0.98)

(0.87)

Up to 0.050

0.01

0.25

0.33

Up to 0.400

0.10

(0.66)

(0.56)

Up to 0.100

0.01

0.63

0.64

Up to 0.300

0.11 0.14

iShares € High Yield Corp Bond UCITS ETF iShares € Inflation Linked Govt Bond UCITS ETF iShares £ Corp Bond 0-5yr UCITS ETF iShares AEX UCITS ETF

6.50

6.57

Up to 0.200

(5.67)

(5.54)

Up to 0.400

0.25

(10.23)

(9.93)

Up to 0.350

0.11


0.82

0.85

Up to 0.300

0.16


5.34

5.40

Up to 0.100

0.03

(10.12)

(10.21)

Up to 0.600

0.17

(2.13)

(2.73)

Up to 0.500

0.42

iShares Asia Pacific Dividend UCITS ETF iShares China Large Cap UCITS ETF

iShares Core MSCI EM IMI UCITS ETF iShares Euro Dividend UCITS ETF iShares EURO STOXX Mid UCITS ETF

3.98

3.77

Up to 0.300

0.25

(0.64)

(0.75)

Up to 0.500

0.38

7.47

7.43

Up to 0.300

0.21

UCITS ETF

(2.58)

(3.08)

Up to 0.400

0.82


12.50

11.95

Up to 0.500

0.38

iShares EURO STOXX Small UCITS ETF iShares Euro Total Market Growth Large UCITS ETF iShares Euro Total Market Value Large


6.64

6.88

Up to 0.100

0.04


0.58

0.24

Up to 0.500

0.45

iShares FTSEurofirst 100 UCITS ETF iShares Global Corp Bond UCITS ETF

1.83

1.70

Up to 0.300

0.25

(1.21)

(1.14)

Up to 0.200

0.09

0.06

0.23

Up to 0.400

0.15

iShares Global High Yield Corp Bond UCITS ETF iShares MSCI AC Far East ex-Japan UCITS ETF iShares MSCI Brazil UCITS ETF USD (Dist)

(8.31)

(8.03)

Up to 0.300

0.15

(28.73)

(28.37)

Up to 0.300

0.17

iShares MSCI Eastern Europe Capped UCITS ETF iShares MSCI EM UCITS ETF USD (Dist)

(8.79)

(8.44)

Up to 0.500

0.32

(10.45)

(10.18)

Up to 0.500

0.12

iShares MSCI Europe ex-UK GBP Hedged UCITS ETF (Dist)

2.90

2.68

Up to 0.300

0.17


2.45

2.22

Up to 0.250

0.21

(4.55)

(4.30)

Up to 0.100

0.61 0.62

iShares MSCI Japan UCITS ETF USD (Dist) iShares MSCI Japan USD Hedged UCITS ETF (Acc)

0.25

0.55

Up to 0.200

(6.87)

(6.58)

Up to 0.300

0.21


7.57

7.64

Up to 0.150

0.04


0.42

0.79

Up to 0.150

0.61


3.78

3.89

Up to 0.150

0.11


7.78

7.65

Up to 0.100

0.06


5.98

6.36

Up to 0.300

0.18


Past performance may not necessarily be repeated and future performance may vary. The performance returns and tracking error are for the primary share class for each Fund, which has been selected as a representative share class. Performance returns for other share classes are available at www.ishares.com.

[8]


iSHARES PLC

Investment Manager’s report (continued) MARKET REVIEW Equities Global equities This market review summary covers iShares MSCI World UCITS ETF. Following an uncertain start to the review period amid concerns over rising global trade tensions, world stock markets subsequently rallied on optimism that the US led global economic recovery will continue to underpin company earnings. Nevertheless, some concerns lingered over the outlook for US interest rates and uncertainty over US trade policy. Global stock markets began the six month review period on a soft footing, with investors unsettled by rising trade tension between the US and China. Weakness across much of the IT sector also weighed on broader markets as a data security scandal hit Facebook and a fatal accident raised questions over the safety of self-driving cars. Nevertheless, global equities gradually recovered from their late March lows during the course of April and early May 2018 as generally solid corporate earnings and resilient global economic data offset concerns over the gradual withdrawal of economic stimulus by leading central banks. However, simmering trade related concerns were never far from investors’ minds, with President Donald Trump’s announcement of tariffs on $50 billion in imports from China, threatening a further $200 billion should China impose similar measures on US exports, prompting a selloff in June 2018. However, global equities soon regained their poise in July 2018, rallying in response to a further round of reassuring corporate earnings and economic news. Robust US economic growth data raised particular optimism that the world’s largest economy remained well placed to absorb the effects of ongoing interest rate rises. However, volatility in some emerging markets during the final weeks of the review period reflected investors’ view that some economies were struggling to withstand the wider effects of higher US borrowing costs, with Turkey facing a slide in the Turkish Lira amid governance concerns and fears over the impact of US sanctions. Nevertheless, global equities ended the review period on a broadly firmer note, cheered by the encouraging tone of corporate results and optimism that the US administration’s agreement with Mexico over trade could herald similar agreements with the China and the EU, thereby reducing the risk of a damaging global trade war.

US equities This market review summary covers iShares MSCI North America UCITS ETF and iShares S&P 500 UCITS ETF. US equities produced solid returns, outperforming wider global equities over the review period. Robust domestic economic data and a succession of positive updates from a range of leading US listed companies more than offset concerns over simmering trade related tension, the projected path of US interest rates and the effect of the stronger US Dollar on exporters’ international earnings. US markets followed their global peers lower in March and early April 2018. Notwithstanding some degree of support from the relatively large US energy sector as oil prices pushed higher, concern that President Donald Trump’s strategy over import tariffs would risk a global trade war weighed on sentiment. Financial, mining and IT stocks suffered disproportionately, with the latter further impacted by the prospect of a political crackdown on how companies such as Facebook manage user data. Meanwhile a fatal accident raised new questions over the safety of selfdriving cars, with stocks such as graphics processor specialist Nvidia suffering brief setbacks. Nevertheless, given the strength of the US economic backdrop, with investors largely pricing in the March 2018 0.25% interest rate increase from the Federal Reserve (“Fed”) and at least two further rises in 2018, the US market gradually pushed higher over the remainder of the second quarter. Despite President Donald Trump’s tough rhetoric over trade policy, investors focused on signs of further strength in the domestic economy, with average earnings growing at a robust rate, reflecting the firm employment market as the unemployment rate fell to 3.80%, the lowest since 2000. Although global stocks suffered sporadic setbacks as trade matters returned to centre stage, renewed strength in the energy sector lent support to the US market in late June 2018 as President Donald Trump stepped up pressure on Iran with new sanctions that boosted oil prices amid supply concerns. US markets ended the review period on a very solid note, significantly outpacing the gains by global equities during July and August 2018. This outperformance was largely based on yet more encouraging news from the US economy, with investors unperturbed by the June 2018 0.25% interest rate rise. Provisional data showed that the economy had grown at an annualised pace of 4.10% during the second quarter of 2018, its best performance since late 2014, while more reassuring signs on trade matters also served to bolster investor sentiment.


[9]

iSHARES PLC

Investment Manager’s report (continued) MARKET REVIEW (continued) Equities (continued) US equities (continued) A meeting between European Commission (“EC”) President Juncker and President Donald Trump produced an agreement that helped to defuse trade tension between the US and the EU, while a deal over revised trade terms between the US and Mexico raised hopes over further progress in negotiations with China to avert a further escalation in trade related risks. Nevertheless, uncertainty over Canada’s future trading terms with the US acted as a headwind to the Canadian market, leading to underperformance relative to US equities, following President Donald Trump’s extended efforts to revise the North American Free Trade Agreement (“NAFTA”). Uncertainty heightened during the final days of the review period, particularly as a deadline imposed by the US on Canada to join the revised US-Mexico agreement expired.

UK equities This market review summary covers iShares Core FTSE 100 UCITS ETF, iShares FTSE 250 UCITS ETF and iShares UK Dividend UCITS ETF. UK equities generated good returns over the six month review period, marginally outperforming their global counterparts. With the UK economy showing signs of improvement following its disappointing performance around the turn of the calendar year, some investors took the view that, despite some ongoing uncertainties related to Brexit, their previous allocation to UK equities may have reflected an overly pessimistic view of the UK’s economic prospects. Mid-sized companies, as represented by the FTSE 250 index, outperformed their larger, blue chip peers, as represented by the FTSE 100 index, largely reflecting the formers’ greater focus on the improving domestic economy. Shares paying attractive levels of dividends also outperformed blue chip equities, reflecting the formers’ higher weighting among several outperforming consumer discretionary stocks and lower holdings among some underperforming financials. The UK market followed its international counterparts lower during the opening weeks of the review period amid rising global trade tension. The UK currency’s rally against the US Dollar further weighed on export orientated UK listed large caps given the dilutive effect on their international earnings. However, Sterling’s recovery proved short lived as expectations over a near term rise in UK interest rates faded amid signs that economic activity remained relatively subdued, influenced to some extend by unusually harsh early Spring weather. With Fed officials’ hawkish language contrasting with efforts from their Bank of England (“BoE”) counterparts to downplay the prospect of higher UK interest rates in the near term, Sterling’s weakness extended throughout the second quarter of 2018, thereby helping to underpin the valuation of UK exporters. Boosted by higher oil & gas prices, the UK energy sector also performed well relative to the broader market, helping the main UK market indices to push to new year to date highs in May, despite only muted signs of recovery in the domestic economy. Having traded largely sideways in June 2018, UK equities inched higher in July 2018, supported by ongoing weakness in the UK currency, against both the US Dollar and the Euro. Nevertheless, investor conviction remained relatively weak against the backdrop of mixed economic and political news flow. Provisional data suggested that the UK economy had grown by 0.40% during the second quarter of 2018, compared to 0.20% three months earlier. Meanwhile, despite ongoing strength in the employment market, the widely forecast upturn in wage growth failed to materialise as average earnings growth eased to a six month low in June 2018. Against this uncertain international backdrop as trade related concerns persisted, domestic political factors did nothing to reassure as Prime Minister Theresa May’s Chequers Brexit plan prompted cabinet resignations and attracted only limited support in her own party and from EU leaders. Nevertheless, despite comments from BoE Governor Mark Carney warning over the ‘uncomfortably high’ risk of a no deal Brexit as negotiations seemingly made limited progress, the BoE’s Monetary Policy Committee raised interest rates by 0.25% in August 2018, taking UK benchmark borrowing costs to 0.75%. The decision was influenced by sentiment based surveys suggesting that economic activity was recovering, while inflation remained well above target. Despite the firmer tone of economic indicators, UK equities nevertheless tracked their global counterparts lower during the final weeks of the review period amid some concerns that rising trade friction could threaten global economic growth, augmenting concerns over the UK’s future trading relationship with the EU.

[10]


iSHARES PLC

Investment Manager’s report (continued) MARKET REVIEW (continued) Equities (continued) European equities This market review summary covers iShares AEX UCITS ETF, iShares Euro Dividend UCITS ETF, iShares EURO STOXX Mid UCITS ETF, iShares EURO STOXX Small UCITS ETF, iShares Euro Total Market Growth Large UCITS ETF, iShares Euro Total Market Value Large UCITS ETF, iShares FTSEurofirst 80 UCITS ETF, iShares FTSEurofirst 100 UCITS ETF, iShares MSCI Europe ex-UK GBP Hedged UCITS ETF (Dist) and iShares MSCI Europe ex-UK UCITS ETF. European equities produced muted returns over the review period, lagging behind those of wider global equities. With the region’s economic recovery continuing, albeit at a softer pace, the European Central Bank’s (“ECB”) decision to signal the end of its massive quantitative easing (“QE”) economic support programme and rising political uncertainty, particularly related to Italy, acted as a drag on sentiment. European bourses broadly tracked the swings in wider global equity markets early in the review period, initially drifting lower as concerns mounted over the risk of trade tensions escalating into a full scale global trade war. Nevertheless, with Eurozone economic data remaining positive on the whole, investors became increasingly vigilant over possible signs from the ECB over the timescale for ending its €2.40 trillion QE programme. However, Eurozone equities staged a solid recovery during April and early May 2018, with investors drawing encouragement from the US administration’s decision to temporarily exclude the EU from import tariffs on steel and aluminium. Meanwhile, economic data painted a more mixed picture; compared to 0.70% during the final quarter of 2017, the Eurozone economy grew by a more modest 0.40% during the first quarter of 2018, although some more recent sentiment indicators suggested that activity could soon pick up again. Against this backdrop, the ECB signalled that QE would finally end in December 2018, with interest rates unlikely to rise before mid-2019. Despite the ongoing economic recovery, political factors intensified during the second half of the review period. Following March’s inconclusive Italian elections, an anti EU coalition government finally emerged following weeks of negotiations between the Five Star Movement and the Lega party. Although the coalition’s first choice of a controversial anti EU finance minister candidate was rejected by President Mattarella, a revised nomination enabled the formation of a government, led by academic Giuseppe Conte. However, the new government’s commitment to reduce taxes and increase spending alarmed investors, with the country seemingly set on a collision course with EU deficit rules. Although Italian equities rallied alongside their broader Eurozone peers in July as some government officials reassured investors that they would refrain from making a push to leave the Eurozone, and a meeting between President Donald Trump and European Commission President Juncker over working to reduce tariffs on some industrial goods, Eurozone equities ended the review period on a soft note. The human tragedy of the catastrophic failure of the Morandi road bridge in Genoa raised concerns over the state of some infrastructure across Italy, with the heightened prospect of additional spending raising fears over Italy’s fiscal outlook, and doubts over Italy’s future in the Euro heaping pressure on the banking sector. Meanwhile, news that Eurozone economic growth had slowed to 0.40%, after a revision from the provisional 0.30% figure, during the second quarter of 2018 and President Donald Trump’s renewed threat to impose a 25% tariff on EU vehicle imports saw European markets end the review period on a soft note. Mid-caps outperformed their larger peers, as mid-sized companies’ greater focus on the growing domestic economy offered some protection against the risk that global trade tension could escalate. However, small caps lagged the broader market, partly reflecting investors’ muted appetite for risk. The Dutch-focused AEX index outperformed its wider European peers, helped by the greater representation of the outperforming energy sector and lower representation of some underperforming financials in the Dutch market. The FTSEurofirst80 index marginally underperformed compared to its more broad based FTSEurofirst100 peer, reflecting the latter’s greater exposure to some outperforming energy companies and reduced weighting in some underperforming consumer discretionary companies. In style terms, European growth outperformed value, while dividend orientated stocks underperformed the broader market, largely due to greater relative exposure to the financial sector as political concerns weighed on some banking sector valuations, particularly in Italy.

Japanese equities This market review summary covers iShares MSCI Japan UCITS ETF USD (Dist) and iShares MSCI Japan USD Hedged UCITS ETF (Acc). Japanese equities produced disappointing returns, underperforming their global peers by a substantial margin over the review period. Despite the US Dollar’s recovery against the Japanese Yen (from approximately 106 to 111) over the six months boosting Japanese companies’ earnings from the US market, concerns that Japan’s economic backdrop was softening and fears that trade tension could degenerate into a global trade war weighed on the market.


[11]

iSHARES PLC

Investment Manager’s report (continued) MARKET REVIEW (continued) Equities (continued) Japanese equities (continued) Japanese equities lost ground early in the review period, weighed by a combination of trade tension related softness in global stock markets, modest gains in the Japanese Yen relative to the US Dollar and mixed domestic economic indicators. Political factors also played a part amid claims that an education provider with links to Prime Minister ("PM") Shinzo Abe’s wife secured advantageous terms in a real estate transaction. However, Japanese stocks soon recovered from their lows of late March 2018, rallying alongside their global peers into early May 2018 as some concerns over the threat of a global trade war eased. Although data showed that the economy had suffered a surprise -0.20% contraction during the first quarter of 2018 as private investment and household consumption faltered and uncertainty lingered over PM Abe’s future, investors drew encouragement from a recovery in the US Dollar which eased pressure on export orientated Japanese companies. Solid earnings updates from Japanese corporates, generally positive economy indicators and easing geopolitical tensions following the US-North Korea summit lent further support to the market rally. However, having largely matched the returns from global equities until early June 2018, Japanese equities underperformed their global counterparts over the remainder of the review period. This poor relative performance reflected an escalation of US-China tensions and the softer tone of some domestic economic data. Despite ongoing strength in the US Dollar underpinning sentiment towards Japanese exporters, some manufacturing surveys suggested that export orders were softening while, even as the labour market remained tight, consumer spending data disappointed. Although data would subsequently show that the Japanese economy had returned to growth during the second quarter of 2018, with GDP growth of 0.60%, helped by solid domestic demand, concerns deepened over Japan’s exposure to the ongoing trade skirmish between China and the US as the latter imposed tariffs on $50 billion of Chinese imports and threatened further measures. Nevertheless, domestic factors helped to underpin market sentiment during the final weeks of the review period. Following the release of lower than expected inflation figures, the Bank of Japan stated its intention to maintain its ultra-accommodative interest rate policy for “an extended period”. Meanwhile, having survived accusations of cronyism, PM Abe won the public backing of political colleagues ahead of a September 2018 leadership vote that was widely seen as an opportunity for the leader to reaffirm his authority and extend his mandate for market friendly reform.

Emerging markets equities This market review summary covers iShares Asia Pacific Dividend UCITS ETF, iShares China Large Cap UCITS ETF, iShares Core MSCI EM IMI UCITS ETF, iShares MSCI AC Far East ex-Japan UCITS ETF, iShares MSCI Brazil UCITS ETF USD (Dist), iShares MSCI Eastern Europe Capped UCITS ETF, iShares MSCI EM UCITS ETF USD (Dist), iShares MSCI Korea UCITS ETF USD (Dist) and iShares MSCI Taiwan UCITS ETF. Having delivered robust gains for much of 2017, emerging market equities produced very poor returns during the Company’s review period, underperforming global stock markets by a substantial margin. The marked performance reversal reflected emerging markets’ exposure to the growing risk of a global trade war, concerns over the effects of the ratcheting up of US interest rates and a broad decline in investors’ appetite for higher risk markets. With investor sentiment already fickle given the prospect of US interest rates rising more rapidly and to a greater extent than investors had been expecting, emerging markets eased alongside their global counterparts during the opening weeks of the review period. Following President Donald Trump’s imposition of tariffs on imports of Chinese steel and aluminium, China’s statement over planned retaliation weighed on emerging market stocks into early April 2018. However, although some more conciliatory signals from the US administration over trade and reduced tension on the Korean peninsula helped to defuse some tensions, enabling global equities to rally for much of the second quarter of 2018, emerging markets lagged well behind broader world stock markets. Despite firmer energy prices, the resource rich Brazilian market fared particularly poorly, reflecting concerns that the government’s economic reform measures were facing serious challenges amid industrial unrest and political protests. Meanwhile, the US Dollar’s ongoing recovery amid expectations of a series of further interest rate increases heaped further pressure on emerging markets, with Argentina hiking interest rates to defend its plunging currency and pressing the International Monetary Fund ("IMF") to release the agreed $50 billion bailout funds. With political unrest growing in Brazil, news that left wing Mexican presidential candidate Andrés Manuel López Obrador had built a substantial opinion poll lead ahead of the June 2018 election did little to boost investors’ confidence already shaken by President Donald Trump’s effort to reform the terms of the NAFTA trade agreement. In Europe, a dramatic slide in the Turkish Lira, which piled pressure on banks exposed to foreign currency loans, also prompted a series of dramatic interest rate hikes, with fears for the economy growing in the wake of US sanctions following a spat between President Donald Trump and Turkey’s President Erdogan.

[12]


iSHARES PLC

Investment Manager’s report (continued) MARKET REVIEW (continued) Equities (continued) Emerging markets equities (continued) Rising global trade tensions weighed heavily on sentiment towards emerging markets during the latter weeks of the Company’s review period. Although headline economic data held up relatively well across much of the Far East, notably in China, where year on year economic growth eased only modestly to 6.70% during the April to June 2018 period compared to 6.80% during the three previous quarters, rising risk aversion impacted on emerging markets generally. Following President Erdogan’s June election win, President Donald Trump's threat to impose tighter sanctions on Turkey contributed to renewed weakness in the Turkish Lira, triggering further interest rate increases. During the final weeks of the review period softer Chinese economic data, notably signs that the domestic economic backdrop was cooling, coupled with fears that a series of retaliatory measures threatened by the US and China over trade, weighed further on emerging markets. Despite positive investor reaction to news of a revised trade agreement between Mexico and the US, and reassuring comments from President Elect Obrador that helped the Mexican market to outperform, fears of contagion from the currency crises that had hit Turkey and Argentina could spread to countries such as Brazil and Indonesia, emerging markets ended the review period sharply lower. In regional terms, Far East markets fared relatively well; although economic and trade concerns weighed heavily on markets such as China and Korea, particularly late in the review period, Taiwan and India performed particularly well. The latter reflected the perception that the country’s relatively insular economy and growing consumer class provided protection from global trade risks while the IT heavy Taiwanese market (the IT sector accounts for approximately 59.8% of the MSCI Taiwan index, compared to 18.8% of the MSCI World index) reflected the resilient performance of index heavyweight Taiwan Semiconductor. Meanwhile, the solid performance of Samsung Electronics underpinned the Korean market. However, Latin American equities underperformed, particularly Brazil, amid concerns over growing resistance to political reform. Despite posting losses, Eastern European emerging markets outperformed wider global emerging markets. Although risk aversion hit Polish and Hungarian equities, firmer oil & gas prices underpinned the resource rich Russian market.

Property markets This market review summary covers iShares European Property Yield UCITS ETF. European property assets generated very robust returns during the Company’s review period, outperforming global equities by a substantial margin, helped by the region’s broadly supportive economic environment and commercial property’s lower direct exposure to the effects of trade tariffs relative to equity markets. European property also outperformed UK property but underperformed relative to US real estate assets. European commercial real estate markets began the review period on a positive note, buoyed by the region’s supportive economic backdrop. Ongoing improvements in trading activity across the Eurozone and the strong employment market continued to drive demand for office, retail, industrial and warehouse space. Within the office sector, robust take-up of developments continued to outstrip new supply, particularly in Dublin and across Germany, influenced to some extent by financial companies aiming to retain a strong post Brexit presence in the Eurozone market given the limited apparent progress in negotiations. Although global equities faced sporadic bouts of volatility amid fears that trade skirmishes could trigger a damaging global trade war, real estate markets continued to benefit from the supportive economic environment, and the sector’s low direct exposure to the effects of trade tariffs. With the Eurozone jobless rate continuing its steady decline, falling to 8.20% in May 2018, the lowest rate since November 2008, and retail sales growing by 1.50% on a year on year basis in June 2018, healthy levels of consumer activity continued to underpin demand for retail space. Meanwhile, despite some declines in business confidence, office demand remained solid and new supply tight, leading to low levels of vacancies in highly rated, well connected office developments across a range of European cities. Despite rising levels of political uncertainty and the ECB’s decision to wind up its QE programme at the end of 2018, confidence that Eurozone borrowing costs would remain at low levels for an extended period continued to underpin demand for European commercial real estate during the final weeks of the Company’s review period.


[13]

iSHARES PLC

Investment Manager’s report (continued) MARKET REVIEW (continued) Fixed income US government bonds This market review summary covers iShares $ Treasury Bond 1-3yr UCITS ETF. Short dated US Treasury bond prices ended the Company’s review period modestly higher. Despite robust rates of US economic growth and rising inflation, concerns over mounting global trade related tension and deteriorating sentiment towards some higher risk assets, such as emerging market equities and lower rated corporate debt, underlined the appeal of ultralow risk assets, such as US Treasury bonds. The US government bond market began the review period on a largely flat note. Despite signs that US economic activity was picking up, volatility in global stock markets amid rising trade tensions and a selloff in the global IT sector highlighted the appeal of safe haven assets. Following the Fed’s widely forecast decision to lift interest rates from 1.50% to 1.75% in March 2018, provisional data subsequently suggested that the US economy had grown by a faster than expected 2.90% on an annualised basis during the first quarter of 2018. Meanwhile, with inflation picking up steadily from its January 2018 low of 2.10%, Treasury bond prices came under some pressure in April 2018, particularly as more conciliatory signals briefly eased global trade tensions. Nevertheless, although first quarter economic growth would later be revised down to 2.20%, and rising oil prices would continue to push inflation higher, tougher subsequent rhetoric from President Donald Trump over imports from China and the EU heightened fears that progressively tougher trade terms between major nations could trigger a trade war, thereby dealing a heavy blow to the global economy. Against the backdrop of rising risk aversion, precipitated by events such as the growing crisis in some emerging economies and concerns over rising Eurozone political uncertainties, investors increasingly reallocated capital away from higher risk assets into highly rated government bonds, with US Treasuries among the major beneficiaries. Even as inflation hit 2.90%, the highest level since February 2012, in June and July 2018, and data showed that the US economy had grown by an upwardly revised 4.20% during the second quarter of 2018, US Treasury bond markets pushed higher over the final weeks of the review period. Notwithstanding the US administration’s agreement with Mexico over revised trade terms, the market’s late gains highlighted the appeal of safe haven assets amid fears that President Donald Trump's strategy over trade terms with China, and to a lesser extent the EU, could derail the US and global economic recoveries.

European government bonds This market background summary covers iShares € Govt Bond 1-3yr UCITS ETF and iShares € Inflation Linked Govt Bond UCITS ETF. Short dated European government bonds produced disappointing returns over the Company’s review period, underperforming relative to their US peers. With the Eurozone economic recovery continuing, albeit at a more subdued pace over recent quarters, an upturn in inflation across the single currency zone and confirmation that the ECB will finally end its bond buying QE programme at the end of 2018 weighed to some extent on European government debt. Poor returns from Italian bonds as investors fretted over the new government’s plans for lower tax and higher spending also weighed on broader European government bond markets. Inflation protected Euro government bonds lost ground over the review period, reflecting their relatively short duration relative to global inflation protected debt and some investors’ view that the region’s more uncertain economic outlook could act as a drag on inflation over the medium term. European government bonds markets traded in a relatively tight range early in the review period. The supportive effect of sluggish inflation data was largely offset by signs that the ECB was preparing the ground for the eventual end of QE, keeping interest rates on hold but removing the mention of any willingness to expand QE at its meeting statement. However, Euro government bond yields rose across the board as political concerns returned, principally in Italy and to a lesser extent in Spain. Italian yields rose sharply as the Lega and Five Star parties reached a deal to form a coalition government. Although President Mattarella rejected the coalition’s original choice of finance minister, potentially creating a political vacuum ahead of new elections, a compromise candidate paved the way for a new Giuseppe Conte led government with tax and spending plans that seemingly set a collision course with Eurozone budget deficit rules. Meanwhile, Spanish bond yields briefly rose as PM Mariano Rajoy lost a confidence vote after his Popular Party was implicated in a corruption scandal, with Socialist Party leader Pedro Sánchez taking over as PM.

[14]


iSHARES PLC

Investment Manager’s report (continued) MARKET REVIEW (continued) Fixed income (continued) European government bonds (continued) Although Italian government bonds performed poorly over the remainder of the review period, particularly as the Genoa bridge catastrophe highlighted the pressure for significantly higher infrastructure spending, broader European government bond markets rallied from their May 2018 lows. Even as higher energy prices drove inflation sharply higher – from just 1.30% in April 2018 to a five and a half year high of 2.10% in July 2018 – Euro government bond markets benefitted from ‘safe haven’ buying as rising international trade tensions fuelled fears of a global trade war. Notwithstanding a brief return of investors’ appetite for risk as a meeting between President Juncker and President Donald Trump seemingly defused tensions, signs that the latter was preparing to implement new tariffs on $200 billion of imports from China helped to underpin ultralow risk assets, such as Euro government bonds.

Corporate bonds This market review summary covers iShares $ Corp Bond Interest Rate Hedged UCITS ETF, iShares $ Corp Bond UCITS ETF, iShares £ Corp Bond 0-5yr UCITS ETF, iShares Core £ Corp Bond UCITS ETF, iShares € Corp Bond Large Cap UCITS ETF, iShares Global High Yield Corp Bond UCITS ETF, iShares Global Corp Bond UCITS ETF and iShares € High Yield Corp Bond UCITS ETF. Global corporate bond markets produced mixed returns over the six month review period, largely underperforming relative to their government bond counterparts. Despite generally supportive corporate earnings updates, concerns over the growing danger of a global trade war weighed heavily on investors’ appetite for risk, with yield spreads widening as investors showed a broad preference for lower risk assets, such as government bonds. Sterling credit outperformed its Euro and US Dollar peers, largely reflecting the firm relative returns from the underlying gilt market as some investors sought out lower risk assets against the backdrop of ongoing Brexit related uncertainties. Nevertheless, high yield bond markets recovered from a poor start to the review period, ending on a relatively firm note, underpinned by the solid relative performance of some energy and telecom sector issuers. Credit markets traded in a relatively tight range early in the review period, albeit marginally underperforming underlying government bond markets as growing expectations that the ECB and the BoE would soon follow the Fed’s lead by adopting less accommodative monetary policy weighed slightly on risk based assets. However, credit markets endured a bout of underperformance late in the second quarter, with turbulence in some European markets amid Italy related uncertainties acting as a headwind to credit generally. Nevertheless, credit markets broadly followed the lead of rising underlying government bond markets in June and July 2018, albeit that credit marginally underperformed ultra-low risk government bonds as investors sought out safe havens amid rising trade tensions. However, given the broadly reassuring tone of corporate earnings announcements, optimism that solid company balance sheets would enable creditors to comfortably service their debt burdens, thereby helping to keep default risks relatively low, served to limit credit markets’ underperformance. During the final weeks of the review period, ongoing concerns related to the Italian government’s plans continued to act as a headwind to peripheral Euro credit markets, while the ECB’s decision to finally end QE also contributed to Euro credit’s disappointing returns over the period. Meanwhile, high yield bond markets ended the period on a relatively firm note, particularly lower rated developed market credit, which benefited to some extent from investors switching out of emerging market debt into developed market bonds offering attractive levels of yield.

BlackRock Advisors (UK) Limited September 2018


[15]

iSHARES PLC

CONDENSED INCOME STATEMENT (unaudited) For the financial period ended 31 August 2018 and 31 August 2017 iShares $ Corp Bond Interest Rate Hedged UCITS ETF

Company Total



31 August 2018 £’000

31 August 2017 £’000

31 August 2018 $’000

31 August 2017 $’000

31 August 2018 $’000

31 August 2017 $’000

31 August 2018 $’000

31 August 2017 $’000

Interest income

271,963

293,103

4,483

2,960

103,034

107,827

33,774

12,246

Dividend income

834,349

746,302

-

-

-

-

-

-

19,377

15,248

-

-

97

83

1,808

1,183

8

-

-

-

-

-

-

-

(1,302,654)

3,087,000

(5,848)

966

(76,516)

156,793

(9,122)

3,059

Total (losses)/gains

(176,957)

4,141,653

(1,365)

3,926

26,615

264,703

26,460

16,488

Operating expenses

(104,836)

(106,951)

(300)

(294)

(5,444)

(6,177)

(3,461)

(2,047)

Note

Securities lending income Management fee rebate Net (losses)/gains on financial assets/liabilities at fair value through profit or loss

Negative yield on financial assets Net operating (loss)/profit

(1,423)

(313)

-

-

-

-

-

-

(283,216)

4,034,389

(1,665)

3,632

21,171

258,526

22,999

14,441

(676,980)

(663,463)

(2,888)

(1,628)

(91,648)

(97,076)

(17,914)

(4,288)

(435)

(427)

-

(1)

(2)

(4)

(3)

(1)

Finance costs: Distributions to redeemable participating shareholders

5

Interest expense Total finance costs

(677,415)

(663,890)

(2,888)

(1,629)

(91,650)

(97,080)

(17,917)

(4,289)

Net (loss)/profit for the financial period before tax

(960,631)

3,370,499

(4,553)

2,003

(70,479)

161,446

5,082

10,152

Taxation Net (loss)/profit for the financial period after tax

6

(68,393)

(59,063)

-

-

-

-

-

-

(1,029,024)

3,311,436

(4,553)

2,003

(70,479)

161,446

5,082

10,152

-

(35,198)

-

-

-

-

-

(1,332)

(1,029,024)

3,276,238

(4,553)

2,003

(70,479)

161,446

5,082

8,820

Adjustment to align to the valuation methodology as set out in the prospectus (Decrease)/increase in net assets attributable to redeemable participating shareholders from operations

There are no recognised gains or losses arising in the financial period other than those dealt with in the condensed income statement. In arriving at the results of the financial period, all amounts relate to continuing operations. The accompanying notes are an integral part of the notes to the financial statements.

[16]


iSHARES PLC

CONDENSED INCOME STATEMENT (unaudited) (continued) For the financial period ended 31 August 2018 and 31 August 2017 iShares € Corp Bond Large Cap UCITS ETF

Note Interest income Securities lending income




31 August 2018 €’000

31 August 2017 €’000

31 August 2018 €’000

31 August 2017 €’000

31 August 2018 €’000

31 August 2017 €’000

31 August 2018 €’000

31 August 2017 €’000

24,892

28,668

267

448

81,466

114,849

6,620

7,916

435

478

70

144

6,194

4,407

234

374

Net (losses)/gains on financial assets/liabilities at fair (23,867)

28,304

(10,736)

5,731

(67,568)

37,129

(17,340)

7,882

1,460

57,450

(10,399)

6,323

20,092

156,385

(10,486)

16,172

(3,877)

(4,489)

(1,246)

(1,200)

(10,959)

(13,791)

(1,581)

(1,602)

-

-

(1,613)

(358)

-

-

-

-

(2,417)

52,961

(13,258)

4,765

9,133

142,594

(12,067)

14,570

(22,117)

(25,111)

(430)

762

(70,993)

(111,292)

-

-

(25)

(29)

(10)

(6)

(145)

(156)

(13)

(5)

Total finance costs

(22,142)

(25,140)

(440)

756

(71,138)

(111,448)

(13)

(5)

Net (loss)/profit for the financial period

(24,559)

27,821

(13,698)

5,521

(62,005)

31,146

(12,080)

14,565

-

(8,834)

-

(441)

-

-

-

(402)

(24,559)

18,987

(13,698)

5,080

(62,005)

31,146

(12,080)

14,163

value through profit or loss Total gains/(losses) Operating expenses Negative yield on financial assets Net operating (loss)/profit Finance costs: Distributions to redeemable participating shareholders Interest expense

5


There are no recognised gains or losses arising in the financial period other than those dealt with in the condensed income statement. In arriving at the results of the financial period, all amounts relate to continuing operations The accompanying notes are an integral part of the notes to the financial statements.


[17]

iSHARES PLC

CONDENSED INCOME STATEMENT (unaudited) (continued) For the financial period ended 31 August 2018 and 31 August 2017 iShares £ Corp Bond 0-5yr UCITS ETF

Note Interest income Dividend income Securities lending income




31 August 2018 £’000

31 August 2017 £’000

31 August 2018 €’000

31 August 2017 €’000

31 August 2018 $’000

31 August 2017 $’000

31 August 2018 $’000

31 August 2017 $’000

16,026

15,386

-

-

7

20

4

2

-

-

8,985

7,125

16,376

15,008

20,873

18,628

84

52

105

57

183

193

267

171

(5,907)

3,954

14,362

11,268

(42,437)

5,954

(89,420)

69,748

Net (losses)/gains on financial assets/liabilities at fair value through profit or loss Total gains/(losses)

10,203

19,392

23,452

18,450

(25,871)

21,175

(68,276)

88,549

Operating expenses

(1,403)

(1,372)

(513)

(419)

(1,408)

(1,408)

(2,478)

(2,102)

8,800

18,020

22,939

18,031

(27,279)

19,767

(70,754)

86,447

(13,797)

(13,381)

(6,241)

(4,588)

(11,048)

(10,102)

(2,138)

(425)

Net operating profit/(loss) Finance costs: Distributions to redeemable participating shareholders

5

Interest expense Total finance costs Net (loss)/profit for the financial period before tax Taxation Net (loss)/profit for the financial period after tax

6

(1)

-

(18)

(7)

-

(2)

-

-

(13,798)

(13,381)

(6,259)

(4,595)

(11,048)

(10,104)

(2,138)

(425)

(4,998)

4,639

16,680

13,436

(38,327)

9,663

(72,892)

86,022

-

-

(1,284)

(571)

(322)

(522)

(1,902)

(1,766)

(4,998)

4,639

15,396

12,865

(38,649)

9,141

(74,794)

84,256

-

(2,183)

-

(59)

-

(753)

-

(498)

(4,998)

2,456

15,396

12,806

(38,649)

8,388

(74,794)

83,758



[18]


iSHARES PLC

CONDENSED INCOME STATEMENT (unaudited) (continued) For the financial period ended 31 August 2018 and 31 August 2017 iShares Core £ Corp Bond UCITS ETF





31 August 2018 £’000

31 August 2017 £’000

31 August 2018 £’000

31 August 2017 £’000

31 August 2018 $’000

31 August 2017 $’000

31 August 2018 €’000

31 August 2017 €’000

23,069

20,769

23

2

216

110

-

-

-

-

145,889

127,160

182,424

111,031

42,249

32,081

70

4

332

263

5,087

4,241

340

131

(8,438)

28,024

150,157

98,353

(1,213,506)

847,011

(58,037)

21,257

Net (losses)gains on financial assets/liabilities at fair value through profit or loss Total gains/(losses)

14,701

48,797

296,401

225,778

(1,025,779)

962,393

(15,448)

53,469

Operating expenses

(1,598)

(1,408)

(2,029)

(1,710)

(10,652)

(7,395)

(1,926)

(1,716)

Net operating profit/(loss)

13,103

47,389

294,372

224,068

(1,036,431)

954,998

(17,374)

51,753

(20,452)

(18,911)

(112,522)

(101,805)

1,620

-

(38,080)

(29,786)


5

Interest expense Total finance costs Net (loss)/profit for the financial period before tax Taxation Net (loss)/profit for the financial period after tax

6

(1)

-

(3)

(9)

(3)

(1)

(34)

(23)

(20,453)

(18,911)

(112,525)

(101,814)

1,617

(1)

(38,114)

(29,809)

(7,350)

28,478

181,847

122,254

(1,034,814)

954,997

(55,488)

21,944

-

-

(1,673)

(193)

(22,402)

(13,308)

(3,590)

(557)

(7,350)

28,478

180,174

122,061

(1,057,216)

941,689

(59,078)

21,387

-

(7,429)

-

(570)

-

(4,727)

-

(192)

(7,350)

21,049

180,174

121,491

(1,057,216)

936,962

(59,078)

21,195




[19]

iSHARES PLC

CONDENSED INCOME STATEMENT (unaudited) (continued) For the financial period ended 31 August 2018 and 31 August 2017 iShares EURO STOXX Mid UCITS ETF




31 August 2018 €’000

31 August 2017 €’000

31 August 2018 €’000

31 August 2017 €’000

31 August 2018 €’000

31 August 2017 €’000

31 August 2018 €’000

31 August 2017 €’000

19,506

12,250

21,987

13,816

1,327

1,585

1,910

3,322

368

207

512

301

17

9

10

7

value through profit or loss

11,953

30,061

(29,932)

56,862

5,409

913

(3,309)

4,365

Total gains/(losses)

31,827

42,518

(7,433)

70,979

6,753

2,507

(1,389)

7,694

Operating expenses

(1,439)

(1,078)

(1,748)

(1,356)

(185)

(178)

(118)

(145)

Net operating profit/(loss)

30,388

41,440

(9,181)

69,623

6,568

2,329

(1,507)

7,549

(13,650)

(9,274)

(18,081)

(9,509)

(1,038)

(1,176)

(1,669)

(3,014)

(22)

(22)

(34)

(15)

(2)

(2)

(2)

(3)

(13,672)

(9,296)

(18,115)

(9,524)

(1,040)

(1,178)

(1,671)

(3,017)

16,716

32,144

(27,296)

60,099

5,528

1,151

(3,178)

4,532

Note Dividend income Securities lending income Net gains/(losses) on financial assets/liabilities at fair


5

Interest expense Total finance costs Net profit/(loss) for the financial period before tax Taxation

6

Net profit/(loss) for the financial period after tax

(1,555)

(408)

(1,953)

(732)

(113)

(106)

(144)

(132)

15,161

31,736

(29,249)

59,367

5,415

1,045

(3,322)

4,400

-

(23)

-

(243)

-

25

-

(9)

15,161

31,713

(29,249)

59,124

5,415

1,070

(3,322)

4,391

Adjustment to align to the valuation methodology as set out in the prospectus Increase/(decrease) in net assets attributable to redeemable participating shareholders from operations


[20]


iSHARES PLC

CONDENSED INCOME STATEMENT (unaudited) (continued) For the financial period ended 31 August 2018 and 31 August 2017 iShares European Property Yield UCITS ETF




31 August 2018 €’000

31 August 2017 €’000

31 August 2018 £’000

31 August 2017 £’000

31 August 2018 €’000

31 August 2017 €’000

31 August 2018 €’000

31 August 2017 €’000

4

-

3

-

-

-

-

-

45,345

47,028

16,125

20,571

816

852

721

989

372

155

565

649

6

3

5

5


124,234

77,924

39,093

48,231

(458)

1,210

(131)

160

Total gains

169,955

125,107

55,786

69,451

364

2,065

595

1,154

Operating expenses

(2,830)

(2,934)

(1,718)

(1,974)

(61)

(57)

(54)

(65)

Net operating profit

167,125

122,173

54,068

67,477

303

2,008

541

1,089

(34,903)

(33,324)

(11,663)

(15,395)

(721)

(730)

(599)

(870)

Note Interest income Dividend income Securities lending income Net gains/(losses) on financial assets/liabilities at fair


5

(48)

(37)

(3)

-

-

(1)

-

(1)

Total finance costs

(34,951)

(33,361)

(11,666)

(15,395)

(721)

(731)

(599)

(871)

Net profit/(loss) for the financial period before tax

132,174

88,812

42,402

52,082

(418)

1,277

(58)

218

(3,017)

(1,458)

(185)

(180)

(64)

(51)

(39)

(36)

129,157

87,354

42,217

51,902

(482)

1,226

(97)

182

-

(1,902)

-

(400)

-

3

-

-

129,157

85,452

42,217

51,502

(482)

1,229

(97)

182

Interest expense

Taxation

6

Net profit/(loss) for the financial period after tax Adjustment to align to the valuation methodology as set out in the prospectus Increase/(decrease) in net assets attributable to redeemable participating shareholders from operations



[21]

iSHARES PLC

CONDENSED INCOME STATEMENT (unaudited) (continued) For the financial period ended 31 August 2018 and 31 August 2017 iShares Global Corp Bond UCITS ETF

Note Interest income

iShares Global High Yield Corp Bond UCITS ETF



31 August 2018 $’000

31 August 2017 $’000

31 August 2018 $’000

31 August 2017 $’000

31 August 2018 $’000

31 August 2017 $’000

31 August 2018 $’000

31 August 2017 $’000

19,127

13,385

18,034

22,048

17

8

-

-

-

-

-

-

50,163

42,917

6,665

4,444

47

15

412

324

993

556

-

-

-

-

-

-

11

-

-

-


(32,053)

43,820

(15,775)

32,105

(253,494)

330,749

(138,391)

14,224


(12,879)

57,220

2,671

54,477

(202,310)

374,230

(131,726)

18,668

Operating expenses

(1,382)

(958)

(1,756)

(2,086)

(9,453)

(7,585)

(1,476)

(1,255)

(14,261)

56,262

915

52,391

(211,763)

366,645

(133,202)

17,413

(14,786)

(9,503)

(18,099)

(13,576)

(15,649)

(9,200)

(6,956)

(4,006)

(2)

(4)

(13)

(13)

(2)

(1)

-

-

Total finance costs

(14,788)

(9,507)

(18,112)

(13,589)

(15,651)

(9,201)

(6,956)

(4,006)


(29,049)

46,755

(17,197)

38,802

(227,414)

357,444

(140,158)

13,407

Dividend income Securities lending income Management fee rebate Net (losses)/gains on financial assets/liabilities at fair

Net operating (loss)/profit Finance costs: Distributions to redeemable participating shareholders

5

Interest expense

Taxation

6

Net (loss)/profit for the financial period after tax

(1)

(4)

(2)

(2)

(5,408)

(4,683)

9,535

(3,110)

(29,050)

46,751

(17,199)

38,800

(232,822)

352,761

(130,623)

10,297

-

-

-

-

-

(1,301)

-

(278)

(29,050)

46,751

(17,199)

38,800

(232,822)

351,460

(130,623)

10,019



[22]


iSHARES PLC

CONDENSED INCOME STATEMENT (unaudited) (continued) For the financial period ended 31 August 2018 and 31 August 2017 iShares MSCI Eastern Europe Capped UCITS ETF




31 August 2018 $’000

31 August 2017 $’000

31 August 2018 $’000

31 August 2017 $’000

31 August 2018 £’000

31 August 2017 £’000

31 August 2018 €’000

31 August 2017 €’000

4

2

40

27

-

-

-

-

9,185

7,946

107,585

98,935

7,172

1,411

58,664

57,544

38

78

1,884

1,350

45

3

649

384


(36,771)

17,869

(724,626)

793,672

2,173

2,248

6,804

56,645


(27,544)

25,895

(615,117)

893,984

9,390

3,662

66,117

114,573

Operating expenses

(1,092)

(953)

(22,099)

(19,840)

(562)

(119)

(4,438)

(4,952)

(28,636)

24,942

(637,216)

874,144

8,828

3,543

61,679

109,621

(1,582)

(1,972)

(34,839)

(24,571)

(4,844)

(1,104)

(46,506)

(44,981)

Note Interest income Dividend income Securities lending income Net (losses)/gains on financial assets/liabilities at fair


5

Interest expense Total finance costs Net (loss)/profit for the financial period before tax Taxation

6

Net (loss)/profit for the financial period after tax

-

(1)

(11)

(3)

(13)

(2)

(59)

(108)

(1,582)

(1,973)

(34,850)

(24,574)

(4,857)

(1,106)

(46,565)

(45,089)

(30,218)

22,969

(672,066)

849,570

3,971

2,437

15,114

64,532

(815)

(751)

(13,618)

(11,688)

(854)

(263)

(7,094)

(4,709)

(31,033)

22,218

(685,684)

837,882

3,117

2,174

8,020

59,823

-

(150)

-

(3,756)

-

(4)

-

(175)

(31,033)

22,068

(685,684)

834,126

3,117

2,170

8,020

59,648




[23]

iSHARES PLC

CONDENSED INCOME STATEMENT (unaudited) (continued) For the financial period ended 31 August 2018 and 31 August 2017 iShares MSCI Japan UCITS ETF USD (Dist)

iShares MSCI Japan USD Hedged UCITS ETF (Acc)



31 August 2018 $’000

31 August 2017 $’000

31 August 2018 $’000

31 August 2017 $’000

31 August 2018 $’000

31 August 2017 $’000

31 August 2018 $’000

31 August 2017 $’000

15

-

2

-

3

-

24

13

22,138

21,628

7,639

5,606

3,022

2,127

21,714

22,789

532

503

90

48

428

307

226

237


(99,754)

110,586

(3,399)

23,005

(40,569)

74,035

139,116

90,985


(77,069)

132,717

4,332

28,659

(37,116)

76,469

161,080

114,024

Operating expenses

(5,368)

(5,757)

(2,037)

(1,545)

(2,137)

(2,426)

(4,237)

(4,214)

(82,437)

126,960

2,295

27,114

(39,253)

74,043

156,843

109,810

(13,739)

(13,262)

-

-

(4,922)

(4,173)

(13,342)

(15,145)

Note Interest income Dividend income Securities lending income Net (losses)/gains on financial assets/liabilities at fair


5

(7)

(10)

(12)

(6)

(1)

(1)

-

-

Total finance costs

(13,746)

(13,272)

(12)

(6)

(4,923)

(4,174)

(13,342)

(15,145)


(96,183)

113,688

2,283

27,108

(44,176)

69,869

143,501

94,665

(3,319)

(3,104)

(1,145)

(841)

(661)

(469)

(3,182)

(3,294)

(99,502)

110,584

1,138

26,267

(44,837)

69,400

140,319

91,371

-

(1,751)

-

(468)

-

(376)

-

(259)

(99,502)

108,833

1,138

25,799

(44,837)

69,024

140,319

91,112

Interest expense

Taxation

6

Net (loss)/profit for the financial period after tax Adjustment to align to the valuation methodology as set out in the prospectus (Decrease)/increase in net assets attributable to redeemable participating shareholders from operations


[24]


iSHARES PLC

CONDENSED INCOME STATEMENT (unaudited) (continued) For the financial period ended 31 August 2018 and 31 August 2017 iShares MSCI Taiwan UCITS ETF





31 August 2018 $’000

31 August 2017 $’000

31 August 2018 $’000

31 August 2017 $’000

31 August 2018 $’000

31 August 2017 $’000

31 August 2018 £’000

31 August 2017 £’000

3

-

102

43

92

45

1

1

11,788

14,618

79,571

82,494

79,576

83,191

27,906

27,029

98

59

898

830

313

398

108

179

(9,101)

41,931

147,693

352,275

549,035

337,907

14,820

(9,584)

Net (losses)/gains on financial assets/liabilities at fair value through profit or loss Total gains Operating expenses Net operating profit

2,788

56,608

228,264

435,642

629,016

421,541

42,835

17,625

(1,249)

(1,427)

(13,737)

(13,945)

(2,867)

(6,822)

(1,407)

(1,624)

1,539

55,181

214,527

421,697

626,149

414,719

41,428

16,001

(89)

2,699

(51,483)

(59,283)

(63,672)

(57,319)

(18,974)

(21,761)


5

Interest expense Total finance costs Net profit/(loss) for the financial period before tax Taxation Net (loss)/profit for the financial period after tax

6

-

(7)

(12)

(12)

-

-

-

(1)

(89)

2,692

(51,495)

(59,295)

(63,672)

(57,319)

(18,974)

(21,762)

1,450

57,873

163,032

362,402

562,477

357,400

22,454

(5,761)

(2,447)

(2,912)

(8,959)

(7,057)

(11,013)

(11,230)

(287)

(110)

(997)

54,961

154,073

355,345

551,464

346,170

22,167

(5,871)

-

(94)

-

(1,140)

-

(482)

-

(196)

(997)

54,867

154,073

354,205

551,464

345,688

22,167

(6,067)




[25]

iSHARES PLC

CONDENSED STATEMENT OF CHANGES IN NET ASSETS ATTRIBUTABLE TO REDEEMABLE PARTICIPATING SHAREHOLDERS (unaudited) For the financial period ended 31 August 2018 and 31 August 2017 iShares $ Corp Bond Interest Rate Hedged UCITS ETF

Company Total



31 August 2018 £’000

31 August 2017 £’000

31 August 2018 $’000

31 August 2017 $’000

31 August 2018 $’000

31 August 2017 $’000

31 August 2018 $’000

31 August 2017 $’000

62,836,195

58,294,374

245,580

115,187

5,679,582

5,698,984

2,910,086

1,680,967

2,350,143

108,139

-

-

-

-

-

-

(1,029,024)

3,276,238

(4,553)

2,003

(70,479)

161,446

5,082

8,820

Net assets attributable to redeemable participating shareholders at the beginning of the financial period Notional foreign exchange adjustment* (Decrease)/increase in net assets attributable to redeemable participating shareholders from operations Share transactions: Proceeds from issue of redeemable participating shares Payments on redemption of redeemable participating shares

7,800,399

8,754,447

61,491

152,878

1,724,816

1,494,213

2,262,264

1,393,888

(7,961,030)

(7,020,213)

(66,238)

(9,627)

(2,269,527)

(951,669)

(1,588,028)

(550,736)

(160,631)

1,734,234

(4,747)

143,251

(544,711)

542,544

674,236

843,152

63,996,683

63,412,985

236,280

260,441

5,064,392

6,402,974

3,589,404

2,532,939

(Decrease)/increase in net assets resulting from share transactions Net assets attributable to redeemable participating shareholders at the end of the financial period

* The notional foreign exchange adjustment arises from the retranslation of the net assets at the beginning of the financial period using the exchange rate as at 31 August 2018. The average exchange rate for the financial period is applied to income statement items and share transactions (see note 9).

The accompanying notes form an integral part of these financial statements.

[26]


iSHARES PLC

CONDENSED STATEMENT OF CHANGES IN NET ASSETS ATTRIBUTABLE TO REDEEMABLE PARTICIPATING SHAREHOLDERS (unaudited) (continued) For the financial period ended 31 August 2018 and 31 August 2017 iShares € Corp Bond Large Cap UCITS ETF




31 August 2018 €’000

31 August 2017 €’000

31 August 2018 €’000

31 August 2017 €’000

31 August 2018 €’000

31 August 2017 €’000

31 August 2018 €’000

31 August 2017 €’000

4,228,854

4,651,622

1,152,887

1,405,957

4,380,934

5,832,429

1,228,874

1,283,557

(24,559)

18,987

(13,698)

5,080

(62,005)

31,146

(12,080)

14,163

164,546

550,135

396,730

248,589

967,711

795,108

428,456

130,228

(698,199)

(710,528)

(305,648)

(723,101)

(778,210)

(1,275,935)

(291,660)

(151,046)

(533,653)

(160,393)

91,082

(474,512)

189,501

(480,827)

136,796

(20,818)

3,670,642

4,510,216

1,230,271

936,525

4,508,430

5,382,748

1,353,590

1,276,902

Net assets attributable to redeemable participating shareholders at the beginning of the financial period (Decrease)/increase in net assets attributable to redeemable participating shareholders from operations Share transactions: Proceeds from issue of redeemable participating shares Payments on redemption of redeemable participating shares (Decrease)/increase in net assets resulting from share transactions Net assets attributable to redeemable participating shareholders at the end of the financial period



[27]

iSHARES PLC

CONDENSED STATEMENT OF CHANGES IN NET ASSETS ATTRIBUTABLE TO REDEEMABLE PARTICIPATING SHAREHOLDERS (unaudited) (continued) For the financial period ended 31 August 2018 and 31 August 2017 iShares £ Corp Bond 0-5yr UCITS ETF




31 August 2018 £’000

31 August 2017 £’000

31 August 2018 €’000

31 August 2017 €’000

31 August 2018 $’000

31 August 2017 $’000

31 August 2018 $’000

31 August 2017 $’000

1,387,025

1,264,608

329,848

273,037

479,190

466,719

680,752

574,751

(4,998)

2,456

15,396

12,806

(38,649)

8,388

(74,794)

83,758

44,545

185,998

84,899

41,524

42,601

29,365

40,703

5,533

(41,558)

(29,168)

(79,560)

(41,359)

(22,399)

(26,121)

(6,767)

(79,119)

2,987

156,830

5,339

165

20,202

3,244

33,936

(73,586)

1,385,014

1,423,894

350,583

286,008

460,743

478,351

639,894

584,923

Net assets attributable to redeemable participating shareholders at the beginning of the financial period (Decrease)/increase in net assets attributable to redeemable participating shareholders from operations Share transactions: Proceeds from issue of redeemable participating shares Payments on redemption of redeemable participating shares Increase/(decrease) in net assets resulting from share transactions Net assets attributable to redeemable participating shareholders at the end of the financial period


[28]


iSHARES PLC

CONDENSED STATEMENT OF CHANGES IN NET ASSETS ATTRIBUTABLE TO REDEEMABLE PARTICIPATING SHAREHOLDERS (unaudited) (continued) For the financial period ended 31 August 2018 and 31 August 2017 iShares Core £ Corp Bond UCITS ETF




31 August 2018 £’000

31 August 2017 £’000

31 August 2018 £’000

31 August 2017 £’000

31 August 2018 $’000

31 August 2017 $’000

31 August 2018 €’000

31 August 2017 €’000

1,509,682

1,474,743

5,421,781

4,704,544

9,460,691

4,605,402

964,042

740,049

(7,350)

21,049

180,174

121,491

(1,057,216)

936,962

(59,078)

21,195

Proceeds from issue of redeemable participating shares

182,564

268,680

211,083

166,840

1,311,216

1,438,543

102,318

179,655

Payments on redemption of redeemable participating shares

(49,513)

(210,280)

(5,514)

-

(136,988)

-

(133,976)

(65,133)

133,051

58,400

205,569

166,840

1,174,228

1,438,543

(31,658)

114,522

1,635,383

1,554,192

5,807,524

4,992,875

9,577,703

6,980,907

873,306

875,766

Net assets attributable to redeemable participating shareholders at the beginning of the financial period (Decrease)/increase in net assets attributable to redeemable participating shareholders from operations Share transactions:

Increase/(decrease) in net assets resulting from share transactions Net assets attributable to redeemable participating shareholders at the end of the financial period



[29]

iSHARES PLC

CONDENSED STATEMENT OF CHANGES IN NET ASSETS ATTRIBUTABLE TO REDEEMABLE PARTICIPATING SHAREHOLDERS (unaudited) (continued) For the financial period ended 31 August 2018 and 31 August 2017 iShares EURO STOXX Mid UCITS ETF




31 August 2018 €’000

31 August 2017 €’000

31 August 2018 €’000

31 August 2017 €’000

31 August 2018 €’000

31 August 2017 €’000

31 August 2018 €’000

31 August 2017 €’000

717,542

403,042

1,073,513

446,750

88,309

80,236

63,887

72,786

15,161

31,713

(29,249)

59,124

5,415

1,070

(3,322)

4,391

90,836

170,335

10,610

222,374

7,442

14,517

6,703

4,545

(140,216)

(5,687)

(449,516)

-

(3,567)

(6,980)

(11,119)

(13,457)

(49,380)

164,648

(438,906)

222,374

3,875

7,537

(4,416)

(8,912)

683,323

599,403

605,358

728,248

97,599

88,843

56,149

68,265

Net assets attributable to redeemable participating shareholders at the beginning of the financial period Increase/(decrease) in net assets attributable to redeemable participating shareholders from operations Share transactions: Proceeds from issue of redeemable participating shares Payments on redemption of redeemable participating shares (Decrease)/increase in net assets resulting from share transactions Net assets attributable to redeemable participating shareholders at the end of the financial period


[30]


iSHARES PLC

CONDENSED STATEMENT OF CHANGES IN NET ASSETS ATTRIBUTABLE TO REDEEMABLE PARTICIPATING SHAREHOLDERS (unaudited) (continued) For the financial period ended 31 August 2018 and 31 August 2017 iShares European Property Yield UCITS ETF




31 August 2018 €’000

31 August 2017 €’000

31 August 2018 £’000

31 August 2017 £’000

31 August 2018 €’000

31 August 2017 €’000

31 August 2018 €’000

31 August 2017 €’000

1,315,924

1,478,779

865,831

934,283

32,689

26,320

26,353

40,098

129,157

85,452

42,217

51,502

(482)

1,229

(97)

182

49,947

31,206

5,056

9,357

-

-

-

1,796

(24,887)

(245,217)

(70,992)

-

(3,094)

-

-

(14,244)

25,060

(214,011)

(65,936)

9,357

(3,094)

-

-

(12,448)

1,470,141

1,350,220

842,112

995,142

29,113

27,549

26,256

27,832

Net assets attributable to redeemable participating shareholders at the beginning of the financial period Increase/(decrease) in net assets attributable to redeemable participating shareholders from operations Share transactions: Proceeds from issue of redeemable participating shares Payments on redemption of redeemable participating shares Increase/(decrease) in net assets resulting from share transactions Net assets attributable to redeemable participating shareholders at the end of the financial period



[31]

iSHARES PLC

CONDENSED STATEMENT OF CHANGES IN NET ASSETS ATTRIBUTABLE TO REDEEMABLE PARTICIPATING SHAREHOLDERS (unaudited) (continued) For the financial period ended 31 August 2018 and 31 August 2017 iShares Global Corp Bond UCITS ETF




31 August 2018 $’000

31 August 2017 $’000

31 August 2018 $’000

31 August 2017 $’000

31 August 2018 $’000

31 August 2017 $’000

31 August 2018 $’000

31 August 2017 $’000

1,322,106

845,174

830,164

631,469

2,687,165

1,636,938

450,211

336,052

(29,050)

46,751

(17,199)

38,800

(232,822)

351,460

(130,623)

10,019

349,570

306,200

103,026

281,377

48,361

377,734

-

9,254

(340,947)

(495)

(241,351)

(31,572)

(228,965)

(40,889)

-

-

8,623

305,705

(138,325)

249,805

(180,604)

336,845

-

9,254

1,301,679

1,197,630

674,640

920,074

2,273,739

2,325,243

319,588

355,325



[32]


iSHARES PLC

CONDENSED STATEMENT OF CHANGES IN NET ASSETS ATTRIBUTABLE TO REDEEMABLE PARTICIPATING SHAREHOLDERS (unaudited) (continued) For the financial period ended 31 August 2018 and 31 August 2017 iShares MSCI Eastern Europe Capped UCITS ETF




31 August 2018 $’000

31 August 2017 $’000

31 August 2018 $’000

31 August 2017 $’000

31 August 2018 £’000

31 August 2017 £’000

31 August 2018 €’000

31 August 2017 €’000

313,276

262,127

6,294,155

4,715,029

280,628

42,082

2,389,898

1,818,584

(31,033)

22,068

(685,684)

834,126

3,117

2,170

8,020

59,648

57,660

39,012

9,432

201,947

-

137,318

24,127

787,009

(53,507)

(88,067)

(227,446)

-

(9,977)

-

(369,640)

(136,295)

4,153

(49,055)

(218,014)

201,947

(9,977)

137,318

(345,513)

650,714

286,396

235,140

5,390,457

5,751,102

273,768

181,570

2,052,405

2,528,946




[33]

iSHARES PLC

CONDENSED STATEMENT OF CHANGES IN NET ASSETS ATTRIBUTABLE TO REDEEMABLE PARTICIPATING SHAREHOLDERS (unaudited) (continued) For the financial period ended 31 August 2018 and 31 August 2017 iShares MSCI Japan UCITS ETF USD (Dist)




31 August 2018 $’000

31 August 2017 $’000

31 August 2018 $’000

31 August 2017 $’000

31 August 2018 $’000

31 August 2017 $’000

31 August 2018 $’000

31 August 2017 $’000

1,928,974

2,086,726

683,541

556,299

604,613

480,686

2,123,525

2,245,584

(99,502)

108,833

1,138

25,799

(44,837)

69,024

140,319

91,112

136,938

119,590

10,437

-

33,894

389,681

93,664

-

(342,142)

(394,594)

(151,287)

(131,856)

(39,533)

(114,332)

(141,969)

(268,927)

(205,204)

(275,004)

(140,850)

(131,856)

(5,639)

275,349

(48,305)

(268,927)

1,624,268

1,920,555

543,829

450,242

554,137

825,059

2,215,539

2,067,769



[34]


iSHARES PLC

CONDENSED STATEMENT OF CHANGES IN NET ASSETS ATTRIBUTABLE TO REDEEMABLE PARTICIPATING SHAREHOLDERS (unaudited) (continued) For the financial period ended 31 August 2018 and 31 August 2017 iShares MSCI Taiwan UCITS ETF




31 August 2018 $’000

31 August 2017 $’000

31 August 2018 $’000

31 August 2017 $’000

31 August 2018 $’000

31 August 2017 $’000

31 August 2018 £’000

31 August 2017 £’000

391,470

362,628

5,440,669

5,956,182

8,133,740

8,094,128

677,798

801,839

(997)

54,867

154,073

354,205

551,464

345,688

22,167

(6,067)

36,427

160,949

552,282

-

254,270

255,145

3,491

1,861

(123,786)

(46,044)

(220,876)

(981,953)

(344,650)

(1,131,187)

(19,746)

(26,056)

(87,359)

114,905

331,406

(981,953)

(90,380)

(876,042)

(16,255)

(24,195)

303,114

532,400

5,926,148

5,328,434

8,594,824

7,563,774

683,710

771,577




[35]

iSHARES PLC

CONDENSED BALANCE SHEET (unaudited) As at 31 August 2018 and 28 February 2018 iShares $ Corp Bond Interest Rate Hedged UCITS ETF

Company Total



31 August 2018 £’000

28 February 2018 £’000

31 August 2018 $’000

28 February 2018 $’000

31 August 2018 $’000

28 February 2018 $’000

31 August 2018 $’000

28 February 2018 $’000

Cash

425,380

275,805

752

-

59,476

13,293

11,655

8,286

Cash equivalents

101,576

163,838

1,656

3,647

-

-

-

-

23,329

15,555

1,746

3,658

85

-

-

-

CURRENT ASSETS

Margin cash account

455,068

457,128

29,183

2,413

74,418

61,155

41,955

10,687

Financial assets at fair value through profit or loss

63,197,705

62,338,889

227,292

237,458

4,951,707

5,611,799

3,563,387

2,894,148

Total current assets

64,203,058

63,251,215

260,629

247,176

5,085,686

5,686,247

3,616,997

2,913,121 -

Receivables

CURRENT LIABILITIES Bank overdraft

(3,146)

(546)

-

(516)

-

-

-

Margin cash account

(1,670)

(2,140)

-

-

-

-

-

-

(178,193)

(374,702)

(24,349)

(47)

(20,926)

(4,977)

(26,995)

(3,035)

(9,421)

(16,625)

-

-

-

-

-

-

-

(969)

-

-

-

-

-

-

(13,945)

(20,038)

-

(1,033)

(368)

(1,688)

(598)

-

(206,375)

(415,020)

(24,349)

(1,596)

(21,294)

(6,665)

(27,593)

(3,035)

63,996,683

62,836,195

236,280

245,580

5,064,392

5,679,582

3,589,404

2,910,086

Payables Provision for deferred capital gains tax Distributions to redeemable participating shareholders payable Financial liabilities at fair value through profit or loss Total current liabilities excluding net assets attributable to redeemable participating shareholders Net asset value attributable to redeemable participating shareholders at the end of the financial period/year


[36]


iSHARES PLC

CONDENSED BALANCE SHEET (unaudited) (continued) As at 31 August 2018 and 28 February 2018 iShares € Corp Bond Large Cap UCITS ETF




31 August 2018 €’000

28 February 2018 €’000

31 August 2018 €’000

28 February 2018 €’000

31 August 2018 €’000

28 February 2018 €’000

31 August 2018 €’000

28 February 2018 €’000

308

472

299

300

13

2,441

295

300

CURRENT ASSETS Cash

4,293

5,507

383

4,076

80,824

150,984

295

508

39,594

43,739

245

62,063

70,708

79,546

5,984

13,008


3,639,467

4,179,790

1,229,556

1,089,497

4,367,141

4,275,956

1,347,303

1,219,463


3,683,662

4,229,508

1,230,483

1,155,936

4,518,686

4,508,927

1,353,877

1,233,279

Cash equivalents Receivables

CURRENT LIABILITIES Bank overdraft Payables

-

-

-

-

(3,508)

-

-

-

(13,020)

(654)

(212)

(3,049)

(6,713)

(127,970)

(287)

(4,405)

-

-

-

-

(35)

(23)

-

-

(13,020)

(654)

(212)

(3,049)

(10,256)

(127,993)

(287)

(4,405)

3,670,642

4,228,854

1,230,271

1,152,887

4,508,430

4,380,934

1,353,590

1,228,874

Financial liabilities at fair value through profit or loss Total current liabilities excluding net assets attributable to redeemable participating shareholders Net asset value attributable to redeemable participating shareholders at the end of the financial period/year



[37]

iSHARES PLC

CONDENSED BALANCE SHEET (unaudited) (continued) As at 31 August 2018 and 28 February 2018 iShares £ Corp Bond 0-5yr UCITS ETF




31 August 2018 £’000

28 February 2018 £’000

31 August 2018 €’000

28 February 2018 €’000

31 August 2018 $’000

28 February 2018 $’000

31 August 2018 $’000

28 February 2018 $’000

306

43

2,000

124

3,070

787

3,526

407

10,369

-

-

894

-

-

-

-

-

-

148

58

221

71

322

-

CURRENT ASSETS Cash Cash equivalents Margin cash account

29,084

27,360

1,419

918

3,532

2,431

1,055

39


1,356,499

1,360,586

347,119

327,942

454,179

476,140

635,450

680,699


1,396,258

1,387,989

350,686

329,936

461,002

479,429

640,353

681,145

-

-

-

-

(6)

-

-

-

(11,244)

(964)

(87)

(75)

(233)

(221)

(399)

(393)

-

-

(16)

(13)

(20)

(18)

(60)

-

(11,244)

(964)

(103)

(88)

(259)

(239)

(459)

(393)

1,385,014

1,387,025

350,583

329,848

460,743

479,190

639,894

680,752

Receivables

CURRENT LIABILITIES Margin cash account Payables Financial liabilities at fair value through profit or loss Total current liabilities excluding net assets attributable to redeemable participating shareholders Net asset value attributable to redeemable participating shareholders at the end of the financial period/year


[38]


iSHARES PLC

CONDENSED BALANCE SHEET (unaudited) (continued) As at 31 August 2018 and 28 February 2018 iShares Core £ Corp Bond UCITS ETF




31 August 2018 £’000

28 February 2018 £’000

31 August 2018 £’000

28 February 2018 £’000

31 August 2018 $’000

28 February 2018 $’000

31 August 2018 €’000

28 February 2018 €’000

300

29

64,991

46,120

153,820

139,150

2,617

5,224

6,668

514

-

-

-

-

-

-

42

179

5,437

5,183

5,540

-

384

783

CURRENT ASSETS Cash Cash equivalents Margin cash account

29,657

27,708

66,547

35,246

21,112

23,648

3,515

1,997


1,600,492

1,481,900

5,690,252

5,337,770

9,468,419

9,360,795

867,175

956,652


1,637,159

1,510,330

5,827,227

5,424,319

9,648,891

9,523,593

873,691

964,656

-

-

-

-

(7)

(7)

-

-

Receivables


-

-

-

-

-

(831)

-

-

(1,775)

(607)

(17,140)

(290)

(68,367)

(62,064)

(306)

(296)

(1)

(41)

(2,563)

(2,248)

(2,814)

-

(79)

(318)

(1,776)

(648)

(19,703)

(2,538)

(71,188)

(62,902)

(385)

(614)

1,635,383

1,509,682

5,807,524

5,421,781

9,577,703

9,460,691

873,306

964,042

Margin cash account Payables Financial liabilities at fair value through profit or loss Total current liabilities excluding net assets attributable to redeemable participating shareholders Net asset value attributable to redeemable participating shareholders at the end of the financial period/year



[39]

iSHARES PLC

CONDENSED BALANCE SHEET (unaudited) (continued) As at 31 August 2018 and 28 February 2018 iShares EURO STOXX Mid UCITS ETF




31 August 2018 €’000

28 February 2018 €’000

31 August 2018 €’000

28 February 2018 €’000

31 August 2018 €’000

28 February 2018 €’000

31 August 2018 €’000

28 February 2018 €’000

3,104

1,944

5,276

2,916

221

100

375

288

CURRENT ASSETS Cash

353

175

470

254

24

27

43

48

1,907

881

1,624

927

205

216

162

177


678,284

714,757

598,302

1,069,733

97,185

88,002

55,604

63,414


683,648

717,757

605,672

1,073,830

97,635

88,345

56,184

63,927

(235)

(211)

(207)

(317)

(32)

(27)

(20)

(20)

(90)

(4)

(107)

-

(4)

(9)

(15)

(20)

(325)

(215)

(314)

(317)

(36)

(36)

(35)

(40)

683,323

717,542

605,358

1,073,513

97,599

88,309

56,149

63,887

Margin cash account Receivables

CURRENT LIABILITIES Payables Financial liabilities at fair value through profit or loss Total current liabilities excluding net assets attributable to redeemable participating shareholders Net asset value attributable to redeemable participating shareholders at the end of the financial period/year


[40]


iSHARES PLC

CONDENSED BALANCE SHEET (unaudited) (continued) As at 31 August 2018 and 28 February 2018 iShares European Property Yield UCITS ETF




31 August 2018 €’000

28 February 2018 €’000

31 August 2018 £’000

28 February 2018 £’000

31 August 2018 €’000

28 February 2018 €’000

31 August 2018 €’000

28 February 2018 €’000

16,295

9,519

11,070

7,510

53

76

117

117

1,261

1,471

545

616

9

15

17

19

CURRENT ASSETS Cash Margin cash account

2,897

1,885

3,061

723

94

76

155

127


1,450,193

1,303,741

827,794

857,575

28,969

32,538

25,980

26,104


1,470,646

1,316,616

842,470

866,424

29,125

32,705

26,269

26,367

(505)

(410)

(286)

(268)

(10)

(10)

(9)

(8)

-

(282)

(72)

(325)

(2)

(6)

(4)

(6)

(505)

(692)

(358)

(593)

(12)

(16)

(13)

(14)

1,470,141

1,315,924

842,112

865,831

29,113

32,689

26,256

26,353

Receivables

CURRENT LIABILITIES Payables Financial liabilities at fair value through profit or loss Total current liabilities excluding net assets attributable to redeemable participating shareholders Net asset value attributable to redeemable participating shareholders at the end of the financial period/year



[41]

iSHARES PLC

CONDENSED BALANCE SHEET (unaudited) (continued) As at 31 August 2018 and 28 February 2018 iShares Global Corp Bond UCITS ETF




31 August 2018 $’000

28 February 2018 $’000

31 August 2018 $’000

28 February 2018 $’000

31 August 2018 $’000

28 February 2018 $’000

31 August 2018 $’000

28 February 2018 $’000

Cash

2,599

2,618

5,115

1,776

20,500

5,302

1,743

598

Cash equivalents

2,635

17,478

5,766

6,365

-

-

-

-

-

-

-

-

2,921

887

173

28

CURRENT ASSETS

Margin cash account

14,237

20,962

11,831

13,200

5,799

6,599

1,698

4,727


1,285,737

1,300,041

654,105

810,664

2,246,659

2,677,593

328,525

468,034


1,305,208

1,341,099

676,817

832,005

2,275,879

2,690,381

332,139

473,387

-

-

-

-

-

(1)

-

-

Receivables


-

-

-

-

(31)

(55)

-

-

(3,033)

(18,883)

(2,177)

(1,841)

(1,799)

(2,974)

(223)

(247)

Margin cash account Payables

-

-

-

-

-

-

(12,244)

(22,908)

(496)

(110)

-

-

(310)

(186)

(84)

(21)

(3,529)

(18,993)

(2,177)

(1,841)

(2,140)

(3,216)

(12,551)

(23,176)

1,301,679

1,322,106

674,640

830,164

2,273,739

2,687,165

319,588

450,211

Provision for deferred capital gains tax Financial liabilities at fair value through profit or loss Total current liabilities excluding net assets attributable to redeemable participating shareholders Net asset value attributable to redeemable participating shareholders at the end of the financial period/year


[42]


iSHARES PLC

CONDENSED BALANCE SHEET (unaudited) (continued) As at 31 August 2018 and 28 February 2018 iShares MSCI Eastern Europe Capped UCITS ETF




31 August 2018 $’000

28 February 2018 $’000

31 August 2018 $’000

28 February 2018 $’000

31 August 2018 £’000

28 February 2018 £’000

31 August 2018 €’000

28 February 2018 €’000

6,046

1,825

45,962

7,356

430

4,022

10,276

2,924

238

18

2,979

-

43

315

964

296


2,198

120

12,010

17,803

329

182

4,310

3,523


280,487

312,625

5,336,418

6,273,263

275,209

280,211

2,037,875

2,383,901


288,969

314,588

5,397,369

6,298,422

276,011

284,730

2,053,425

2,390,644

-

(97)

-

-

-

-

-

-

Receivables


-

-

-

(476)

-

-

(113)

(14)

(2,508)

(1,198)

(5,340)

(3,791)

(94)

(93)

(707)

(732)

Margin cash account Payables

-

-

-

-

-

(969)

-

-

(65)

(17)

(1,572)

-

(2,149)

(3,040)

(200)

-

(2,573)

(1,312)

(6,912)

(4,267)

(2,243)

(4,102)

(1,020)

(746)

286,396

313,276

5,390,457

6,294,155

273,768

280,628

2,052,405

2,389,898

Distributions to redeemable participating shareholders payable Financial liabilities at fair value through profit or loss Total current liabilities excluding net assets attributable to redeemable participating shareholders Net asset value attributable to redeemable participating shareholders at the end of the financial period/year



[43]

iSHARES PLC

CONDENSED BALANCE SHEET (unaudited) (continued) As at 31 August 2018 and 28 February 2018 iShares MSCI Japan UCITS ETF USD (Dist)




31 August 2018 $’000

28 February 2018 $’000

31 August 2018 $’000

28 February 2018 $’000

31 August 2018 $’000

28 February 2018 $’000

31 August 2018 $’000

28 February 2018 $’000

3,154

2,239

7,119

5,460

2,209

30,590

13,143

6,519

131

155

251

466

1,986

2,200

47

104


3,117

12,428

1,067

941

159

17,504

4,154

3,309


1,619,776

2,092,083

540,370

692,803

551,880

596,111

2,199,016

2,114,269


1,626,178

2,106,905

548,807

699,670

556,234

646,405

2,216,360

2,124,201

Bank overdraft

-

-

-

(132)

-

-

-

-

Margin cash account

-

-

-

-

(1,763)

(1,570)

(73)

-

(1,886)

(177,906)

(681)

(542)

(334)

(40,124)

(742)

(654)

(24)

(25)

(4,297)

(15,455)

-

(98)

(6)

(22)

(1,910)

(177,931)

(4,978)

(16,129)

(2,097)

(41,792)

(821)

(676)

1,624,268

1,928,974

543,829

683,541

554,137

604,613

2,215,539

2,123,525

Receivables

CURRENT LIABILITIES

Payables Financial liabilities at fair value through profit or loss Total current liabilities excluding net assets attributable to redeemable participating shareholders Net asset value attributable to redeemable participating shareholders at the end of the financial period/year


[44]


iSHARES PLC

CONDENSED BALANCE SHEET (unaudited) (continued) As at 31 August 2018 and 28 February 2018 iShares MSCI Taiwan UCITS ETF




31 August 2018 $’000

28 February 2018 $’000

31 August 2018 $’000

28 February 2018 $’000

31 August 2018 $’000

28 February 2018 $’000

31 August 2018 £’000

28 February 2018 £’000

7,221

366

12,461

7,354

32,902

23,635

9,386

7,484

243

7

242

179

-

283

798

631


2,010

707

16,778

11,028

13,595

35,058

7,518

3,199


294,113

391,494

5,901,361

5,424,212

8,548,994

8,097,067

666,617

666,922


303,587

392,574

5,930,842

5,442,773

8,595,491

8,156,043

684,319

678,236

-

-

-

-

(166)

-

-

-

(473)

(1,104)

(4,633)

(2,104)

(501)

(22,303)

(234)

(209)

-

-

(61)

-

-

-

(375)

(229)

(473)

(1,104)

(4,694)

(2,104)

(667)

(22,303)

(609)

(438)

303,114

391,470

5,926,148

5,440,669

8,594,824

8,133,740

683,710

677,798

Receivables

CURRENT LIABILITIES Margin cash account Payables Financial liabilities at fair value through profit or loss Total current liabilities excluding net assets attributable to redeemable participating shareholders Net asset value attributable to redeemable participating shareholders at the end of the financial period/year



[45]

iSHARES PLC

NOTES TO THE UNAUDITED FINANCIAL STATEMENTS For the financial period ended 31 August 2018 1. COMPANY DETAILS iShares public limited company is organised as an open-ended Investment Company with variable capital. The Company was incorporated in Ireland on 21 January 2000 with limited liability and segregated liability between its Funds and is organised under the laws of Ireland as a Public Limited Company (“PLC”) pursuant to the Companies Act 2014 (as amended) and the UCITS Regulations and is regulated by the CBI. The registered office of the Company is J.P. Morgan House, International Financial Services Centre, Dublin 1, Ireland. 2. SIGNIFICANT ACCOUNTING POLICIES Statement of compliance The financial statements of the Company are prepared in accordance with FRS 104 and Irish statute pursuant to the Companies Act 2014 (as amended) and the provisions of the UCITS Regulations. Accounting standards generally accepted in Ireland in preparing financial statements which present a true and fair view are promulgated and issued by the Financial Reporting Council ("FRC"). Due to the special nature of the Company's business, the directors have adapted the arrangement and headings and sub-headings of the financial statements otherwise required by Schedule 3 to the Companies Act 2014 (as amended). All amounts are rounded to the nearest thousand, unless otherwise stated. The principal accounting policies and estimation techniques are consistent with those applied to the previous annual financial statements. 3. FINANCIAL INSTRUMENTS AND RISKS Introduction and overview The Company's investment activities expose it to the various types of risk which are associated with the financial instruments and markets in which it invests. The following information is not intended to be a comprehensive summary of all risks and investors should refer to the prospectus for a more detailed discussion of the risks inherent in investing in the Company. Risk management framework The principal risks and uncertainties of the Company and related risk management policies are consistent with those disclosed in the Company’s audited financial statements as at and for the financial year ended 28 February 2018. The Directors of the Company consider the following risks to be the principal risks and uncertainties facing the Company for the financial period: a) Market risk Market risk arises mainly from uncertainty about future values of financial instruments influenced by other price, currency and interest rate movements. It represents the potential loss the Funds may suffer through holding market positions in the face of market movements. i)

Market risk arising from foreign currency risk

Exposure to foreign currency risk Foreign currency risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in foreign exchange rates. The Funds may invest in securities, which as far as possible and practicable, consist of the component securities of the benchmark index of each Fund, and which may be denominated in currencies other than its reporting currency.

[46]


iSHARES PLC

NOTES TO THE UNAUDITED FINANCIAL STATEMENTS (continued) For the financial period ended 31 August 2018 3. FINANCIAL INSTRUMENT AND RISKS (continued) a) Market risk (continued) i)

Market risk arising from foreign currency risk (continued)

Exposure to foreign currency risk (continued) The Funds with the exception of the currency hedged Funds, in line with their benchmarks, are unhedged and are therefore exposed to foreign currency risk. Consequently, each Fund is exposed to the risk of currency fluctuations between the base currency of the benchmark index and the base currency of the constituent securities of the benchmark index. In addition, certain Funds may have share classes which have different valuation currencies from the base currency of the Fund. Consequently, the investments of a share class may be acquired in currencies which are not the valuation currency of the share class. Currency hedged share classes use a currency hedging approach whereby the hedge is proportionately adjusted for net subscriptions and redemptions in the relevant currency hedged share class. An adjustment is made to the hedge to account for the price movements of the underlying securities held for the relevant currency hedged share class, however, the hedge will only be reset or adjusted on a monthly basis and as and when a pre-determined tolerance is triggered intramonth, and not whenever there is market movement in the underlying securities. In the event that, the over-hedged or under-hedged position on any single underlying portfolio currency exposure of a currency hedged share class exceeds the pre-determined tolerance as at the close of a Business Day (for example, due to market movement), the hedge in respect of that underlying currency will be reset on the next Business Day (on which the relevant currency markets are open). Over-hedged positions shall not exceed 105% of the NAV of the relevant currency hedged share class and under-hedged positions shall not fall short of 95% of the portion of the NAV of the relevant currency hedged share class that is to be hedged against currency risk. As a result of this currency hedging approach, the currency hedged share classes are considered to be immaterially exposed to foreign currency risk. Currency hedged share classes, where offered in a Fund, aim to reduce the impact of exchange rate fluctuations between the underlying portfolio currency exposures of the Fund and the valuation currency of the currency hedged share class on returns of the relevant benchmark index to investors in that share class, through entering into foreign exchange contracts for currency hedging. The realised or unrealised gains or losses relating to these forward currency contracts are allocated to the relevant share class. The details of such contracts are disclosed as hedged forwards in the Fund’s schedule of investments. The Funds may also invest in forward currency contracts and thus gain further exposure to foreign currency risk. Management of foreign currency risk To minimise this risk, the currency hedged Funds invest in forward currency contracts that as far as possible track the hedging methodology of the benchmark index. The benchmark indices of the currency hedged Funds are designed to represent a close approximation of the return that can be achieved by hedging the currency exposures of the index in the one month forward market at the end of each month. Exchange rate exposures are managed where appropriate and in compliance with the prospectus utilising forward currency contracts. The details of the contracts in place at the financial period-end date are disclosed in the schedules of investments. The Investment Manager will monitor the currency exposure and gain or loss arising from hedge positions of each currency hedged share class against the pre-determined tolerances daily and will determine when a currency hedge should be reset and the gain or loss arising from the currency forwards reinvested or settled, while taking into consideration the frequency and associated transaction and reinvestment costs of resetting the currency forwards. ii)

Market risk arising from other price risk

Exposure to other price risk Other price risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market prices (other than those arising from interest rate risk or currency risk), whether those changes are caused by factors specific to the individual financial instrument or its issuer, or factors affecting similar financial instruments traded in the market.


[47]

iSHARES PLC

NOTES TO THE UNAUDITED FINANCIAL STATEMENTS (continued) For the financial period ended 31 August 2018 3. FINANCIAL INSTRUMENT AND RISKS (continued) a)

Market risk (continued)

ii) Market risk arising from other price risk (continued) Exposure to other price risk (continued) The Funds are exposed to market risk arising by virtue of their investments in equities, ETF's, rights, bonds, forward currency contracts and futures contracts. The movements in the prices of these investments result in movements in the performance of the Funds. The investment concentrations within the portfolio are disclosed in the schedules of investments by investment type. Management of other price risk The Investment Manager manages the Funds’ market risk on a daily basis in accordance with the Funds’ investment objective. The investment objective of the Funds is to provide investors with a total return, taking into account the capital and income returns, which reflect the total returns of the respective benchmark. The Fund’s performance is correlated to its benchmark. The correlation of the Fund’s performance against the benchmark is a metric monitored by key management personnel. iii)

Market risk arising from interest rate risk

Exposure to interest rate risk Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market interest rates. The Funds are exposed to interest rate risk through their cash and cash equivalent holdings including margin cash held with brokers. The Funds are also exposed to interest rate risk through their investments in bonds, where the value of these securities may fluctuate as a result of a change in interest rates. The Funds also have indirect exposure to interest rate risk through their investments into futures contracts, whereby the value of the underlying asset may fluctuate as a result of a change in interest rates. Management of interest rate risk iShares $ Corp Bond Interest Rate Hedged UCITS ETF known as the "Interest Rate Hedged Fund" sells US government futures contracts in order to hedge the underlying US government bond yield risk. The Interest Rate Hedged Fund, as far as possible and practicable, tracks the hedging methodology of the benchmark index. The benchmark index of the Interest Rate Hedged Fund is designed to represent a close approximation of the return that can be achieved by hedging on a monthly basis the interest rate exposure of the Fund with the futures contracts weighted appropriately according to the duration of the fixed income securities held in the index. The benchmark index holds long positions in the constituents of the underlying index and aims to achieve zero duration by taking short positions in a basket of US Treasury bond futures contracts. The return on the basket of futures is subtracted from the total return of the underlying index. At the beginning of each month, the constituents of the underlying index are partitioned into five duration buckets. Each bucket is hedged separately with the relevant US Treasury bond futures contract, which itself is weighted appropriately to match the duration of the corporate bonds in that bucket. Movements in the prices of these investments are derived from movements in market interest rates and issuer creditworthiness. Issuer creditworthiness and credit spreads are monitored by the Investment Manager regularly. The securities in which the Funds invest will generally have a minimum rating of "investment grade" (Investment grade securities are those issued by an entity with a minimum investment grade credit rating from at least one globally recognised credit rating agency; Standard & Poor’s, Moody’s or Fitch) from a ratings agency as set out in the investment policy of the Funds.

[48]


iSHARES PLC

NOTES TO THE UNAUDITED FINANCIAL STATEMENTS (continued) For the financial period ended 31 August 2018 3. FINANCIAL INSTRUMENT AND RISKS (continued) b) Counterparty credit risk Exposure to counterparty credit risk Counterparty credit risk is the risk that one party to a financial instrument will cause a financial loss for the other party by failing to discharge an obligation. The Funds are exposed to counterparty credit risk from the parties with which they trade and will bear the risk of settlement default. Management of counterparty credit risk Counterparty credit risk is monitored and managed by BlackRock’s Risk and Quantitative Analysis ("RQA") Counterparty & Concentration Risk Team. The team is headed by BlackRock’s Chief Counterparty Credit Officer who reports to the Global Head of RQA. Credit authority resides with the Chief Counterparty Credit Officer and selected team members to whom specific credit authority has been delegated. As such, counterparty approvals may be granted by the Chief Counterparty Credit Officer, or by identified RQA Credit Risk Officers who have been formally delegated authority by the Chief Counterparty Credit Officer. The BlackRock RQA Counterparty & Concentration Risk Team completes a formal review of each new counterparty, monitors and reviews all approved counterparties on an ongoing basis and maintains an active oversight of counterparty exposures and the collateral management process. There were no past due or impaired balances in relation to transactions with counterparties as at 31 August 2018 or 28 February 2018.

i)

Financial derivative instruments

The Funds’ holdings in exchange traded futures contracts and Over the Counter ("OTC") financial derivative instruments exposes the Funds to counterparty credit risk. Management of counterparty credit risk related to financial derivative instruments Exchange traded financial derivative instruments The exposure to futures contracts is limited by trading the contracts through a clearing house. The Funds’ exposure to counterparty credit risk on contracts in which it currently has a gain position is reduced by such gains received in cash from the counterparty under the daily mark-to-market mechanism on exchange traded futures contracts (variation margin). The Funds’ exposure to credit risk on contracts in which they currently have a loss position is equal to the amount of margin posted to the counterparty which has not been transferred to the exchange under the daily mark-to-market mechanism. Margin is paid or received on futures contracts to cover any exposure by the counterparty or the Funds to each other. “Margin cash account” on the condensed balance sheet consists of margin receivable from or payable to the Fund's clearing brokers and various counterparties. OTC financial derivative instruments Counterparty credit risk in relation to OTC financial derivative instruments arises from the failure of the counterparty to perform according to the terms of the contract. The Funds exposure to counterparty credit risk is limited to the contracts in which it currently has a financial asset position reduced by any collateral received from the counterparty, or to counterparties who have received collateral from the Funds. All OTC derivative transactions are entered into by the Funds under an International Swaps and Derivatives Associations, Inc. Master Agreement (“ISDA Master Agreement”) or similar agreement. An ISDA Master Agreement is a bilateral agreement between the Funds and a counterparty that governs OTC derivative transactions entered into by the parties.


[49]

iSHARES PLC

NOTES TO THE UNAUDITED FINANCIAL STATEMENTS (continued) For the financial period ended 31 August 2018 3. FINANCIAL INSTRUMENT AND RISKS (continued) b) Counterparty credit risk (continued) i)

Financial derivative instruments (continued)

Management of counterparty credit risk related to financial derivative instruments (continued) OTC financial derivative instruments (continued) The parties’ exposures under the ISDA Master Agreement are netted and collateralised together, therefore any collateral disclosures provided are in respect of all OTC derivative transactions entered into by the Funds under the ISDA Master Agreement. All non-cash collateral received/posted by the Funds under the ISDA Master Agreement is transferred bilaterally under a title transfer arrangement. The carrying value of financial assets together with cash held with counterparties best represents the Fund’s gross maximum exposure to counterparty credit risk at the reporting date, before including the effect of ISDA Master Agreements and close-out netting, which reduces the overall counterparty credit risk exposure. Cash held as security by the counterparty to derivative contracts is subject to the credit risk of the counterparty. The Funds’ maximum exposure to counterparty credit risk from holding forward currency contracts will be equal to the notional amount of the currency and any net unrealised gains as disclosed in the schedule of investments. Management of counterparty credit risk related to OTC financial derivative instruments Forward currency contracts do not require variation margins and thus the counterparty credit risk is monitored through the BlackRock RQA Counterparty & Concentration Risk Team who monitor the creditworthiness of the counterparty. The counterparties for forward currency contracts are disclosed in the relevant schedules of investments. ii)

Depositary

The Funds’ Depositary is State Street Custodial Services (Ireland) Limited (the “Depositary”). The majority of the investments are held by the Depositary at financial period end. Investments are segregated from the assets of the Depositary, with ownership rights remaining with the Funds. Bankruptcy or insolvency of the Depositary may cause the Funds’ rights with respect to its investments held by the Depositary to be delayed or limited. The maximum exposure to this risk is the amount of long investments disclosed in the schedules of investments. The Depositary has appointed State Street Bank and Trust Company (the “Sub-Custodian”) as its global Sub-Custodian. Substantially all of the cash of the Company is held with the Sub-Custodian. The Funds’ cash balances are held by the Sub-Custodian in its account together with its own cash balances and with those cash balances that are held on behalf of other clients. The Funds’ cash balances are separately identifiable within the records of the Sub-Custodian. In respect of the cash held by the Sub-Custodian or other depositaries it appoints, the Funds will be exposed to counterparty credit risk of the SubCustodian or those depositaries. In the event of the insolvency or bankruptcy of the Sub-Custodian or other depositaries, the Funds will be treated as a general creditor of the Sub-Custodian or the depositaries. Management of counterparty credit risk related to the Depositary To mitigate the Funds’ exposure to the Depositary, the Investment Manager employs specific procedures to ensure that the Depositary is a reputable institution and that the counterparty credit risk is acceptable to the Funds. The Funds only transacts with Depositary’s that are regulated entities subject to prudential supervision, or with "high credit ratings" assigned by international credit rating agencies. The long term credit rating of the parent company of the Depositary and Sub-Custodian, State Street Corporation, as at 31 August 2018, is A (28 February 2018: A) (Standard & Poor’s rating). In order to further mitigate the Fund's counterparty credit risk exposure to the Sub-Custodian or depositary banks, the Funds may enter into additional arrangements such as the placing of residual cash in a money market fund for example Institutional Cash Series Plc ("ICS") shown as a cash equivalent on the condensed balance sheet. ICS is a BlackRock umbrella fund and an open-ended Investment Company with variable capital incorporated in Ireland and having segregated liability between its funds. ICS is authorised as a UCITS.

[50]


iSHARES PLC

NOTES TO THE UNAUDITED FINANCIAL STATEMENTS (continued) For the financial period ended 31 August 2018 3. FINANCIAL INSTRUMENT AND RISKS (continued) b) Counterparty credit risk (continued) iii) Counterparties All transactions in listed securities are settled/paid for upon delivery using approved brokers. The risk of default is considered minimal, as delivery of securities sold is only made once the broker has received payment. Payment is made on a purchase once the securities have been received by the broker. The trade will fail if either party fails to meet its obligation. Counterparty credit risk arising on transactions with brokers relates to transactions awaiting settlement. Risk relating to unsettled transactions is considered small due to the short settlement period involved and the high credit quality of the brokers used. Management of counterparty credit risk related to counterparties RQA monitors the credit rating and financial position of the brokers used to further mitigate this risk. iv) Securities lending The Funds that engage in securities lending activities expose such Funds to counterparty credit risk. The maximum exposure to each Fund is equal to the value of the securities loaned. Securities lending transactions entered into by the Funds are subject to a written legal agreement between the Funds and the Securities Lending Agent, BlackRock Advisors (UK) Limited, a related party to the Company, and separately between the Securities Lending Agent and the approved borrowing counterparty. Collateral received in exchange for securities lent is transferred under a title transfer arrangement and is delivered to and held in an account with a tri-party collateral manager in the name of the Depositary on behalf of the Funds. Collateral received is segregated from the assets belonging to the Funds’ Depositary or the Lending Agent. Management of counterparty credit risk related to securities lending To mitigate this risk, the Funds which undertake securities lending transactions receive either cash or securities as collateral equal to a certain percentage in excess of the fair value of the securities loaned. The Investment Manager monitors the fair value of the securities loaned and additional collateral is obtained, if necessary. As at the condensed balance sheet date, all non-cash collateral received consists of securities admitted to or dealt on a regulated market. The Funds also benefit from a borrower default indemnity provided by BlackRock, Inc. The indemnity allows for full replacement of securities lent. BlackRock, Inc. bears the cost of indemnification against borrower default. c) Issuer credit risk relating to debt securities Issuer credit risk is the default risk of one of the issuers of any securities held by the Funds. Bonds or other debt securities involve credit risk to the issuer which may be evidenced by the issuer’s credit rating. Securities which are subordinated and/or have a lower credit rating are generally considered to have a higher credit risk and a greater possibility of default than more highly rated. A number of the Funds invest into sovereign and corporate debt. This exposes the Funds to the risk that the issuer of the bonds may default on interest or principal payments. Management of issuer credit risk related to debt securities To manage this risk, the Investment Manager invests in a wide range of debt securities, subject to the investment objectives of each Fund and monitors the credit ratings of the investments as disclosed in the schedules of investments. The ratings of the debt securities are continually monitored by the BlackRock Portfolio Management Group (“PMG”).


[51]

iSHARES PLC

NOTES TO THE UNAUDITED FINANCIAL STATEMENTS (continued) For the financial period ended 31 August 2018 3. FINANCIAL INSTRUMENT AND RISKS (continued) d) Liquidity risk Exposure to liquidity risk Liquidity risk is the risk that the Funds will encounter difficulties in meeting their obligations associated with financial liabilities. Liquidity risk to the Funds arises from the redemption requests of investors and the liquidity of the underlying investments the Funds are invested in. The Funds’ shareholders may redeem their shares on the close of any daily dealing deadline for cash equal to a proportionate share of the Funds’ NAV. The Funds are therefore potentially exposed to the liquidity risk of meeting the shareholders’ redemptions and may need to sell assets at prevailing market prices to meet liquidity demands. It is also exposed to the liquidity risk of daily margin calls on derivatives. Management of liquidity risk Liquidity risk is minimised by holding sufficient liquid investments which can be readily realised to meet liquidity demands. To manage this risk, if redemption requests on any dealing day represent 10% or more of the shares in issue in respect of any Fund, the Manager may, in its discretion, refuse to redeem any shares representing in excess of 10% of the NAV of the Fund (at any time including after the cut-off time on the dealing day). Any request for redemptions on such dealing day shall be reduced rateably and the redemption requests shall be treated as if they were received on each subsequent dealing day until all shares to which the original request related have been redeemed. In any event settlement for redemptions will normally be made within fourteen days of the dealing day. The Fund's liquidity risk is managed on a daily basis by the Investment Manager in accordance with established policies and procedures in place. The portfolio managers review daily forward looking cash reports which project cash obligations. These reports allow them to manage their cash obligations. The Funds benefit from the ETF creation and redemption process which, through the use of Authorised Participants, benefit from economies of scale and access to market participants with a visible market presence and a driver of large trading volumes. Investors and the Funds benefit from the ETF creation and redemption process, which allows an investor, through Authorised Participants, to create and redeem a large number of shares, therefore giving them access to significant market depth. This helps to mitigate liquidity risk and investor concentration risks for the Funds and mitigates investor concentration risks given that the Authorised Participants either receive the assets directly from the Fund on redemption, or for the minority of Funds a fee is charged to cover trading costs. e)

Valuation of financial instruments

The Funds classify financial instruments measured at fair value using a fair value hierarchy. The fair value hierarchy has the following categories: Level 1 - Quoted prices for identical instruments in active markets A financial instrument is regarded as quoted in an active market if quoted prices are readily and regularly available and those prices represent actual and regularly occurring market transactions on an arm’s length basis. The Fund does not adjust the quoted price for these instruments. Level 2 - Valuation techniques using observable inputs This category includes instruments valued using: quoted prices in active markets for similar instruments; quoted prices for similar instruments in markets that are considered less than active; or other valuation techniques where all significant inputs are directly or indirectly observable from market data. Valuation techniques used for non-standardised financial instruments such as OTC derivatives, include the use of comparable recent arm’s length transactions, reference to other instruments that are substantially the same, discounted cash flow analysis, option pricing models and other valuation techniques commonly used by market participants making the maximum use of market inputs and relying as little as possible on entity determined inputs.

[52]


iSHARES PLC

NOTES TO THE UNAUDITED FINANCIAL STATEMENTS (continued) For the financial period ended 31 August 2018 3. FINANCIAL INSTRUMENT AND RISKS (continued) e) Valuation of financial instruments (continued) Level 3 - Valuation techniques using significant unobservable inputs This category includes all instruments where the valuation techniques used include inputs not based on market data and these inputs could have a significant impact on the instrument’s valuation. This category also includes instruments that are valued based on quoted prices for similar instruments where significant entity determined adjustments or assumptions are required to reflect differences between the instruments and instruments for which there is no active market. The level in the fair value hierarchy within which the fair value measurement is categorised in its entirety is determined on the basis of the lowest level input that is significant to the fair value measurement in its entirety. For this purpose, the significance of an input is assessed against the fair value measurement in its entirety. If a fair value measurement uses observable inputs that require significant adjustment based on unobservable inputs, that measurement is a level 3 measurement. Assessing the significance of a particular input to the fair value measurement in its entirety requires judgement, considering factors specific to the asset or liability. The determination of what constitutes ‘observable’ inputs requires significant judgement by the Investment Manager. The Investment Manager considers observable inputs to be that market data that is readily available, regularly distributed or updated, reliable and verifiable, not proprietary, and provided by independent sources that are actively involved in the relevant market. There were no level 3 securities held on the Funds with a fair value greater than 1% of the relevant Fund’s NAV at the financial period ended 31 August 2018 or 28 February 2018. The tables below and overleaf are an analysis of the Funds’ financial assets and financial liabilities measured at fair value at 31 August 2018. 31 August 2018

iShares $ Corp Bond Interest Rate Hedged UCITS ETF

Level 1

Level 2

Level 3

Total

$‘000

$‘000

$‘000

$‘000

-

226,732

-

226,732

Financial assets at fair value through profit or loss - Bonds - Futures contracts

560

-

-

560

Total

560

226,732

-

227,292

$‘000

$‘000

$‘000

$‘000

-

4,949,790

-

4,949,790

iShares $ Corp Bond UCITS ETF Financial assets at fair value through profit or loss - Bonds - Futures contracts

36

-

-

36

-

1,881

-

1,881

36

4,951,671

-

4,951,707

- Forward currency contracts

-

(368)

-

(368)

Total

-

(368)

-

(368)

$‘000

$‘000

$‘000

$‘000

-

3,563,316

-

3,563,316

- Forward currency contracts Total Financial liabilities at fair value through profit or loss

iShares $ Treasury Bond 1-3yr UCITS ETF Financial assets at fair value through profit or loss - Bonds - Forward currency contracts

-

71

-

71

Total

-

3,563,387

-

3,563,387


-

(598)

-

(598)

Total

-

(598)

-

(598)

Financial liabilities at fair value through profit or loss


[53]

iSHARES PLC

NOTES TO THE UNAUDITED FINANCIAL STATEMENTS (continued) For the financial period ended 31 August 2018 3. FINANCIAL INSTRUMENT AND RISKS (continued) e) Valuation of financial instruments (continued) 31 August 2018 (continued) Level 1

Level 2

Level 3

Total

€’000

€’000

€’000

€’000

- Bonds

-

3,639,467

-

3,639,467

Total

-

3,639,467

-

3,639,467

€’000

€’000

€’000

€’000

- Bonds

-

1,229,556

-

1,229,556

Total

-

1,229,556

-

1,229,556

€’000

€’000

€’000

€’000

- Bonds

-

4,367,061

4

4,367,065


-

76

-

76

Total

-

4,367,137

4

4,367,141


-

(35)

-

(35)

Total

-

(35)

-

(35)

€’000

€’000

€’000

€’000

- Bonds

-

1,347,303

-

1,347,303

Total

-

1,347,303

-

1,347,303

£‘000

£‘000

£‘000

£‘000

- Bonds

-

1,356,499

-

1,356,499

Total

-

1,356,499

-

1,356,499

€‘000

€‘000

€‘000

€‘000

- Equities

347,119

-

-

347,119

Total

347,119

-

-

347,119

- Futures contracts

(16)

-

-

(16)

Total

(16)

-

-

(16)

$‘000

$‘000

$‘000

$‘000

454,131

-

-

454,131

iShares € Corp Bond Large Cap UCITS ETF Financial assets at fair value through profit or loss

iShares € Govt Bond 1-3yr UCITS ETF Financial assets at fair value through profit or loss

iShares € High Yield Corp Bond UCITS ETF Financial assets at fair value through profit or loss


iShares € Inflation Linked Govt Bond UCITS ETF Financial assets at fair value through profit or loss

iShares £ Corp Bond 0-5yr UCITS ETF Financial assets at fair value through profit or loss

iShares AEX UCITS ETF Financial assets at fair value through profit or loss

Financial liabilities at fair value through profit or loss:

iShares Asia Pacific Dividend UCITS ETF Financial assets at fair value through profit or loss - Equities - Futures contracts Total

[54]


48

-

-

48

454,179

-

-

454,179

iSHARES PLC


Level 2

Level 3

Total

$‘000

$‘000

$‘000

$‘000

- Futures contracts

(20)

-

-

(20)

Total

(20)

-

-

(20)

$‘000

$‘000

$‘000

$‘000

- Equities*

635,450

-

-

635,450

Total

635,450

-

-

635,450

- Futures contracts

(60)

-

-

(60)

Total

(60)

-

-

(60)

£‘000

£‘000

£‘000

£‘000

- Bonds

-

1,600,492

-

1,600,492

Total

-

1,600,492

-

1,600,492

- Futures contracts

(1)

-

-

(1)

Total

(1)

-

-

(1)

£‘000

£‘000

£‘000

£‘000

5,690,024

-

-

5,690,024

iShares Asia Pacific Dividend UCITS ETF (cont) Financial liabilities at fair value through profit or loss:

iShares China Large Cap UCITS ETF Financial assets at fair value through profit or loss


iShares Core £ Corp Bond UCITS ETF Financial assets at fair value through profit or loss


iShares Core FTSE 100 UCITS ETF Financial assets at fair value through profit or loss - Equities - Forward currency contracts Total

-

228

-

228

5,690,024

228

-

5,690,252

-

(3)

-

(3)

Financial liabilities at fair value through profit or loss - Forward currency contracts - Futures contracts

(2,560)

-

-

(2,560)

Total

(2,560)

(3)

-

(2,563)

$‘000

$‘000

$‘000

$‘000

9,465,348

1,948

916

9,468,212

iShares Core MSCI EM IMI UCITS ETF Financial assets at fair value through profit or loss - Equities - Rights

207

-

-

207

-

-

-

-

9,465,555

1,948

916

9,468,419

- Futures contracts

(2,814)

-

-

(2,814)

Total

(2,814)

-

-

(2,814)

- Warrants* Total Financial liabilities at fair value through profit or loss

* Level 3 securities which are less than $500 are rounded to zero.


[55]

iSHARES PLC

NOTES TO THE UNAUDITED FINANCIAL STATEMENTS (continued) For the financial period ended 31 August 2018 3. FINANCIAL INSTRUMENT AND RISKS (continued) e) Valuation of financial instruments (continued) 31 August 2018 (continued)


Level 1

Level 2

€’000

€’000

Level 3 €’000

Total €’000

Financial assets at fair value through profit or loss - Equities

867,175

-

-

867,175

Total

867,175

-

-

867,175

- Futures contracts

(79)

-

-

(79)

Total

(79)

-

-

(79)

€’000

€’000

€’000

€’000

- Equities*

678,284

-

-

678,284

Total

678,284

-

-

678,284

- Futures contracts

(90)

-

-

(90)

Total

(90)

-

-

(90)

€’000

€’000

€’000

€’000

- Equities

598,302

-

-

598,302

Total

598,302

-

-

598,302

- Futures contracts

(107)

-

-

(107)

Total

(107)

-

-

(107)


€’000

€’000

€’000

€’000

- Equities

97,185

-

-

97,185

Total

97,185

-

-

97,185

- Futures contracts

(4)

-

-

(4)

Total

(4)

-

-

(4)

€’000

€’000

€’000

€’000

- Equities

55,604

-

-

55,604

Total

55,604

-

-

55,604

- Futures contracts

(15)

-

-

(15)

Total

(15)

-

-

(15)


iShares EURO STOXX Mid UCITS ETF Financial assets at fair value through profit or loss


iShares EURO STOXX Small UCITS ETF Financial assets at fair value through profit or loss




iShares Euro Total Market Value Large UCITS ETF Financial assets at fair value through profit or loss


* Level 3 securities which are less than €500 are rounded to zero.

[56]


iSHARES PLC

NOTES TO THE UNAUDITED FINANCIAL STATEMENTS (continued) For the financial period ended 31 August 2018 3. FINANCIAL INSTRUMENT AND RISKS (continued) e)

Valuation of financial instruments (continued)

31 August 2018 (continued) Level 1

Level 2

Level 3

Total

€’000

€’000

€’000

€’000

1,449,660

-

-

1,449,660

533

-

-

533

1,450,193

-

-

1,450,193

£‘000

£‘000

£‘000

£‘000

- Equities*

827,794

-

-

827,794

Total

827,794

-

-

827,794

- Futures contracts

(72)

-

-

(72)

Total

(72)

-

-

(72)

€’000

€’000

€’000

€’000

- Equities

28,969

-

-

28,969

Total

28,969

-

-

28,969

- Futures contracts

(2)

-

-

(2)

Total

(2)

-

-

(2)

€’000

€’000

€’000

€’000

- Equities

25,980

-

-

25,980

Total

25,980

-

-

25,980

- Futures contracts

(4)

-

-

(4)

Total

(4)

-

-

(4)

$‘000

$‘000

$‘000

$‘000

- Bonds

-

1,285,065

49

1,285,114


-

623

-

623

Total

-

1,285,688

49

1,285,737


-

(496)

-

(496)

Total

-

(496)

-

(496)

iShares European Property Yield UCITS ETF Financial assets at fair value through profit or loss - Equities - Futures contracts Total

iShares FTSE 250 UCITS ETF Financial assets at fair value through profit or loss


iShares FTSEurofirst 80 UCITS ETF Financial assets at fair value through profit or loss


iShares FTSEurofirst 100 UCITS ETF Financial assets at fair value through profit or loss


iShares Global Corp Bond UCITS ETF Financial assets at fair value through profit or loss


* Level 3 securities which are less than £500 are rounded to zero.


[57]

iSHARES PLC


Level 2

Level 3

Total

$‘000

$‘000

$‘000

$‘000

- Bonds

-

654,103

2

654,105

Total

-

654,103

2

654,105

$‘000

$‘000

$‘000

$‘000

2,237,341

-

27

2,237,368

iShares Global High Yield Corp Bond UCITS ETF Financial assets at fair value through profit or loss

iShares MSCI AC Far East ex-Japan UCITS ETF Financial assets at fair value through profit or loss - Equities - Rights - UCITS exchange traded fund - Warrants*

39

-

-

39

9,197

-

-

9,197

-

-

-

-

55

-

-

55

2,246,632

-

27

2,246,659

- Futures contracts

(310)

-

-

(310)

Total

(310)

-

-

(310)


$‘000

$‘000

$‘000

$‘000

- Equities

328,525

-

-

328,525

Total

328,525

-

-

328,525

- Futures contracts Total Financial liabilities at fair value through profit or loss


Financial liabilities at fair value through profit or loss - Futures contracts

(84)

-

-

(84)

Total

(84)

-

-

(84)

$‘000

$‘000

$‘000

$‘000

- Equities

280,487

-

-

280,487

Total

280,487

-

-

280,487

iShares MSCI Eastern Europe Capped UCITS ETF Financial assets at fair value through profit or loss


(65)

-

-

(65)

Total

(65)

-

-

(65)

$‘000

$‘000

$‘000

$‘000

5,334,457

1,604

277

5,336,338

iShares MSCI EM UCITS ETF USD (Dist) Financial assets at fair value through profit or loss - Equities - Rights

80

-

-

80

-

-

-

-

5,334,537

1,604

277

5,336,418

- Futures contracts

(1,572)

-

-

(1,572)

Total

(1,572)

-

-

(1,572)

- Warrants* Total Financial liabilities at fair value through profit or loss


[58]


iSHARES PLC

NOTES TO THE UNAUDITED FINANCIAL STATEMENTS (continued) For the financial period ended 31 August 2018 3. FINANCIAL INSTRUMENT AND RISKS (continued) e) Valuation of financial instruments (continued) 31 August 2018 (continued)


Level 1

Level 2

Level 3

Total

£‘000

£‘000

£‘000

£‘000

274,612

-

-

274,612

-

597

-

597

274,612

597

-

275,209

Financial assets at fair value through profit or loss - Equities - Forward currency contracts Total Financial liabilities at fair value through profit or loss - Forward currency contracts

-

(2,139)

-

(2,139)

- Futures contracts

(10)

-

-

(10)

Total

(10)

(2,139)

-

(2,149)

€’000

€’000

€’000

€’000

2,037,804

-

-

2,037,804

71

-

-

71

2,037,875

-

-

2,037,875

- Futures contracts

(200)

-

-

(200)

Total

(200)

-

-

(200)


$‘000

$‘000

$‘000

$‘000

- Equities

1,619,776

-

-

1,619,776

Total

1,619,776

-

-

1,619,776

iShares MSCI Europe ex-UK UCITS ETF Financial assets at fair value through profit or loss - Equities* - Futures contracts Total Financial liabilities at fair value through profit or loss



(24)

-

-

(24)

Total

(24)

-

-

(24)

$‘000

$‘000

$‘000

$‘000

- Equities

540,370

-

-

540,370

Total

540,370

-

-

540,370

iShares MSCI Japan USD Hedged UCITS ETF (Acc) Financial assets at fair value through profit or loss

Financial liabilities at fair value through profit or loss - Forward currency contracts

-

(4,239)

-

(4,239)

- Futures contracts

(58)

-

-

(58)

Total

(58)

(4,239)

-

(4,297)

$‘000

$‘000

$‘000

$‘000

551,861

-

-

551,861

19

-

-

19

551,880

-

-

551,880

iShares MSCI Korea UCITS ETF USD (Dist) Financial assets at fair value through profit or loss - Equities - Futures contracts Total * Level 3 securities which are less than €500 are rounded to zero.


[59]

iSHARES PLC


Level 2

Level 3

Total

$‘000

$‘000

$‘000

$‘000

2,198,394

-

-

2,198,394

622

-

-

622

2,199,016

-

-

2,199,016

- Futures contracts

(6)

-

-

(6)

Total

(6)

-

-

(6)

$‘000

$‘000

$‘000

$‘000

294,010

-

-

294,010

iShares MSCI North America UCITS ETF Financial assets at fair value through profit or loss - Equities - Futures contracts Total Financial liabilities at fair value through profit or loss

iShares MSCI Taiwan UCITS ETF Financial assets at fair value through profit or loss - Equities* - Futures contracts Total


103

-

-

103

294,113

-

-

294,113

$‘000

$‘000

$‘000

$‘000

5,900,822

-

-

5,900,822

Financial assets at fair value through profit or loss - Equities* - Warrants* - Futures contracts Total

-

-

-

-

539

-

-

539

5,901,361

-

-

5,901,361


(61)

-

-

(61)

Total

(61)

-

-

(61)

$‘000

$‘000

$‘000

$‘000

8,547,192

-

-

8,547,192

iShares S&P 500 UCITS ETF Financial assets at fair value through profit or loss - Equities - Futures contracts

1,802

-

-

1,802

8,548,994

-

-

8,548,994

£‘000

£‘000

£‘000

£‘000

- Equities

666,617

-

-

666,617

Total

666,617

-

-

666,617

- Futures contracts

(375)

-

-

(375)

Total

(375)

-

-

(375)

Total

iShares UK Dividend UCITS ETF Financial assets at fair value through profit or loss



[60]


iSHARES PLC



The tables below and overleaf are an analysis of the Funds’ financial assets and liabilities measured at fair value as at 28 February 2018: 28 February 2018 Level 1

Level 2

Level 3

Total

$‘000

$‘000

$‘000

$‘000

- Bonds

-

237,456

-

237,456

- Futures contracts

2

-

-

2

Total

2

237,456

-

237,458

- Futures contracts

(1,033)

-

-

(1,033)

Total

(1,033)

-

-

(1,033)

$‘000

$‘000

$‘000

$‘000

- Bonds

-

5,611,555

-

5,611,555


-

244

-

244

Total

-

5,611,799

-

5,611,799


-

(1,688)

-

(1,688)

Total

-

(1,688)

-

(1,688)

$‘000

$‘000

$‘000

$‘000

- Bonds

-

2,894,148

-

2,894,148

Total

-

2,894,148

-

2,894,148

€’000

€’000

€’000

€’000

- Bonds

-

4,179,790

-

4,179,790

Total

-

4,179,790

-

4,179,790

€’000

€’000

€’000

€’000

- Bonds

-

1,089,497

-

1,089,497

Total

-

1,089,497

-

1,089,497

€’000

€’000

€’000

€’000

- Bonds

-

4,274,714

-

4,274,714


-

1,242

-

1,242

Total

-

4,275,956

-

4,275,956

iShares $ Corp Bond Interest Rate Hedged UCITS ETF Financial assets at fair value through profit or loss


iShares $ Corp Bond UCITS ETF Financial assets at fair value through profit or loss


iShares $ Treasury Bond 1-3yr UCITS ETF Financial assets at fair value through profit or loss

iShares € Corp Bond Large Cap UCITS ETF Financial assets at fair value through profit or loss

iShares € Govt Bond 1-3yr UCITS ETF Financial assets at fair value through profit or loss

iShares € High Yield Corp Bond UCITS ETF Financial assets at fair value through profit or loss


[61]

iSHARES PLC



28 February 2018 (continued) Level 1

Level 2

Level 3

Total

€’000

€’000

€’000

€’000


-

(23)

-

(23)

Total

-

(23)

-

(23)

€’000

€’000

€’000

€’000

- Bonds

-

1,219,463

-

1,219,463

Total

-

1,219,463

-

1,219,463

£‘000

£‘000

£‘000

£‘000

- Bonds

-

1,360,586

-

1,360,586

Total

-

1,360,586

-

1,360,586

€‘000

€‘000

€‘000

€‘000

327,905

-

-

327,905

iShares € High Yield Corp Bond UCITS ETF (cont) Financial liabilities at fair value through profit or loss

iShares € Inflation Linked Govt Bond UCITS ETF Financial assets at fair value through profit or loss

iShares £ Corp Bond 0-5yr UCITS ETF Financial assets at fair value through profit or loss

iShares AEX UCITS ETF Financial assets at fair value through profit or loss - Equities - Futures contracts

37

-

-

37

327,942

-

-

327,942


-

(13)

-

(13)

Total

-

(13)

-

(13)

$‘000

$‘000

$‘000

$‘000

476,123

-

-

476,123

17

-

-

17

476,140

-

-

476,140

- Futures contracts

(18)

-

-

(18)

Total

(18)

-

-

(18)

$‘000

$‘000

$‘000

$‘000

- Equities*

680,699

-

-

680,699

Total

680,699

-

-

680,699

Total Financial liabilities at fair value through profit or loss:

iShares Asia Pacific Dividend UCITS ETF Financial assets at fair value through profit or loss - Equities - Futures contracts Total Financial liabilities at fair value through profit or loss:

iShares China Large Cap UCITS ETF Financial assets at fair value through profit or loss


[62]


iSHARES PLC




Level 2

Level 3

Total

£‘000

£‘000

£‘000

£‘000

- Bonds

-

1,481,900

-

1,481,900

Total

-

1,481,900

-

1,481,900

- Futures contracts

(41)

-

-

(41)

Total

(41)

-

-

(41)

£‘000

£‘000

£‘000

£‘000

5,337,557

-

-

5,337,557

-

213

-

213

5,337,557

213

-

5,337,770

iShares Core £ Corp Bond UCITS ETF Financial assets at fair value through profit or loss


iShares Core FTSE 100 UCITS ETF Financial assets at fair value through profit or loss - Equities - Forward currency contracts Total Financial liabilities at fair value through profit or loss - Forward currency contracts

-

(150)

-

(150)

- Futures contracts

(2,098)

-

-

(2,098)

Total

(2,098)

(150)

-

(2,248)

$‘000

$‘000

$‘000

$‘000

9,358,060

724

458

9,359,242

606

-

-

606

iShares Core MSCI EM IMI UCITS ETF Financial assets at fair value through profit or loss - Equities - Rights* - Futures contracts Total


947

-

-

947

9,359,613

724

458

9,360,795

€’000

€’000

€’000

€’000

Financial assets at fair value through profit or loss - Equities

956,652

-

-

956,652

Total

956,652

-

-

956,652

- Futures contracts

(318)

-

-

(318)

Total

(318)

-

-

(318)


€’000

€’000

€’000

€’000

714,725

-

-

714,725


Financial assets at fair value through profit or loss - Equities* - Futures contracts Total

32

-

-

32

714,757

-

-

714,757

* Level 3 securities which are less than $500/€500 are rounded to zero.


[63]

iSHARES PLC




Level 2

Level 3

Total

€’000

€’000

€’000

€’000

- Futures contracts

(4)

-

-

(4)

Total

(4)

-

-

(4)

€’000

€’000

€’000

€’000

1,069,703

-

-

1,069,703

iShares EURO STOXX Mid UCITS ETF (cont) Financial liabilities at fair value through profit or loss:

iShares EURO STOXX Small UCITS ETF Financial assets at fair value through profit or loss - Equities - Futures contracts

30

-

-

30

1,069,733

-

-

1,069,733

€’000

€’000

€’000

€’000

- Equities

88,002

-

-

88,002

Total

88,002

-

-

88,002

- Futures contracts

(9)

-

-

(9)

Total

(9)

-

-

(9)

€’000

€’000

€’000

€’000

- Equities

63,414

-

-

63,414

Total

63,414

-

-

63,414

- Futures contracts

(20)

-

-

(20)

Total

(20)

-

-

(20)

€’000

€’000

€’000

€’000

- Equities

1,303,741

-

-

1,303,741

Total

1,303,741

-

-

1,303,741

- Futures contracts

(282)

-

-

(282)

Total

(282)

-

-

(282)


£‘000

£‘000

£‘000

£‘000

- Equities

857,575

-

-

857,575

Total

857,575

-

-

857,575

Total

iShares Euro Total Market Growth Large UCITS ETF Financial assets at fair value through profit or loss


iShares Euro Total Market Value Large UCITS ETF Financial assets at fair value through profit or loss


iShares European Property Yield UCITS ETF Financial assets at fair value through profit or loss



[64]


iSHARES PLC




Level 2

Level 3

Total

£‘000

£‘000

£‘000

£‘000

- Futures contracts

(325)

-

-

(325)

Total

(325)

-

-

(325)


€’000

€’000

€’000

€’000

- Equities

32,538

-

-

32,538

Total

32,538

-

-

32,538

- Futures contracts

(6)

-

-

(6)

Total

(6)

-

-

(6)

€’000

€’000

€’000

€’000

26,103

-

-

26,103

iShares FTSE 250 UCITS ETF (cont) Financial liabilities at fair value through profit or loss



iShares FTSEurofirst 100 UCITS ETF Financial assets at fair value through profit or loss - Equities - Futures contracts

1

-

-

1

26,104

-

-

26,104

- Futures contracts

(6)

-

-

(6)

Total

(6)

-

-

(6)

$‘000

$‘000

$‘000

$‘000

- Bonds

-

1,298,476

-

1,298,476


-

1,565

-

1,565

Total

-

1,300,041

-

1,300,041


-

(110)

-

(110)

Total

-

(110)

-

(110)

$‘000

$‘000

$‘000

$‘000

- Bonds*

-

810,664

-

810,664

Total

-

810,664

-

810,664

Total Financial liabilities at fair value through profit or loss

iShares Global Corp Bond UCITS ETF Financial assets at fair value through profit or loss


iShares Global High Yield Corp Bond UCITS ETF Financial assets at fair value through profit or loss



[65]

iSHARES PLC




Level 2

Level 3

Total

$‘000

$‘000

$‘000

$‘000

2,677,514

-

-

2,677,514

79

-

-

79

2,677,593

-

-

2,677,593

- Futures contracts

(186)

-

-

(186)

Total

(186)

-

-

(186)


$‘000

$‘000

$‘000

$‘000

467,862

-

-

467,862

iShares MSCI AC Far East ex-Japan UCITS ETF Financial assets at fair value through profit or loss - Equities* - Rights* Total Financial liabilities at fair value through profit or loss

Financial assets at fair value through profit or loss - Equities - Rights

172

-

-

172

468,034

-

-

468,034

- Futures contracts

(21)

-

-

(21)

Total

(21)

-

-

(21)

$‘000

$‘000

$‘000

$‘000

- Equities

312,625

-

-

312,625

Total

312,625

-

-

312,625

- Futures contracts

(17)

-

-

(17)

Total

(17)

-

-

(17)

$‘000

$‘000

$‘000

$‘000

6,272,309

-

-

6,272,309

455

-

-

455

499

-

-

499

6,273,263

-

-

6,273,263


iShares MSCI Eastern Europe Capped UCITS ETF Financial assets at fair value through profit or loss


iShares MSCI EM UCITS ETF USD (Dist) Financial assets at fair value through profit or loss - Equities* - Rights* - Futures contracts Total * Level 3 securities which are less than $500 are rounded to zero.

[66]


iSHARES PLC



28 February 2018 (continued)


Level 1

Level 2

Level 3

Total

£‘000

£‘000

£‘000

£‘000

279,810

-

-

279,810

-

399

-

399

Financial assets at fair value through profit or loss - Equities - Forward currency contracts - Futures contracts Total

2

-

-

2

279,812

399

-

280,211

-

(2,922)

-

(2,922)


(118)

-

-

(118)

Total

(118)

(2,922)

-

(3,040)


€’000

€’000

€’000

€’000

2,383,850

-

-

2,383,850

Financial assets at fair value through profit or loss - Equities* - Futures contracts

51

-

-

51

2,383,901

-

-

2,383,901

$‘000

$‘000

$‘000

$‘000

- Equities

2,092,083

-

-

2,092,083

Total

2,092,083

-

-

2,092,083

Total

iShares MSCI Japan UCITS ETF USD (Dist) Financial assets at fair value through profit or loss


(25)

-

-

(25)

Total

(25)

-

-

(25)

$‘000

$‘000

$‘000

$‘000

692,532

-

-

692,532

iShares MSCI Japan USD Hedged UCITS ETF (Acc) Financial assets at fair value through profit or loss - Equities - Forward currency contracts Total

-

271

-

271

692,532

271

-

692,803

-

(15,243)

-

(15,243)


(212)

-

-

(212)

Total

(212)

(15,243)

-

(15,455)


$‘000

$‘000

$‘000

$‘000

596,002

-

-

596,002

109

-

-

109

596,111

-

-

596,111

Financial assets at fair value through profit or loss - Equities - Rights Total * Level 3 securities which are less than €500 are rounded to zero.


[67]

iSHARES PLC



28 February 2018 (continued)

iShares MSCI Korea UCITS ETF USD (Dist) (cont)

Level 1

Level 2

Level 3

Total

$‘000

$‘000

$‘000

$‘000


(98)

-

-

(98)

Total

(98)

-

-

(98)

$‘000

$‘000

$‘000

$‘000

2,114,215

-

-

2,114,215

iShares MSCI North America UCITS ETF Financial assets at fair value through profit or loss - Equities - Futures contracts

54

-

-

54

2,114,269

-

-

2,114,269

- Futures contracts

(22)

-

-

(22)

Total

(22)

-

-

(22)

$‘000

$‘000

$‘000

$‘000

391,494

-

-

391,494

-

-

-

-

391,494

-

-

391,494

$‘000

$‘000

$‘000

$‘000

5,424,124

-

-

5,424,124

1

-

-

1


iShares MSCI Taiwan UCITS ETF Financial assets at fair value through profit or loss - Equities* - Rights* Total

iShares MSCI World UCITS ETF Financial assets at fair value through profit or loss - Equities* - Rights - Futures contracts Total


87

-

-

87

5,424,212

-

-

5,424,212

$‘000

$‘000

$‘000

$‘000

8,096,752

-

-

8,096,752

Financial assets at fair value through profit or loss - Equities - Futures contracts

315

-

-

315

8,097,067

-

-

8,097,067

£‘000

£‘000

£‘000

£‘000

- Equities

666,922

-

-

666,922

Total

666,922

-

-

666,922

- Futures contracts

(229)

-

-

(229)

Total

(229)

-

-

(229)

Total

iShares UK Dividend UCITS ETF Financial assets at fair value through profit or loss



[68]


iSHARES PLC

NOTES TO THE UNAUDITED FINANCIAL STATEMENTS (continued) For the financial period ended 31 August 2018 4. OPERATING EXPENSES The Company employs an “all in one” fee structure for its Funds, with each Fund paying all of its fees, operating costs and expenses (and its due proportion of any costs and expenses allocated to it) as a single flat fee (the TER). Where a Fund has multiple Share Classes, any fees, operating costs and expenses which are attributable to a particular Share Class (rather than the entire Fund) will be deducted from the assets notionally allocated by the Fund to that Share Class. The TER is calculated in accordance with the Committee of European Securities Regulators (“CESR”) guidelines on the methodology for calculation of the ongoing charges figure in the Key Investor Information Document ("KIID") or the product page of the website at www.ishares.com. The Manager is responsible for discharging all operational expenses, including but not limited to fees and expenses of the Directors, Investment Manager, Depositary, Administrator, Transfer Agent and Registrar from the amounts received by the Manager from the TER. Such operational expenses include regulatory and audit fees but exclude transaction costs and extraordinary legal costs. In the event a Fund’s costs and expenses in connection with the operation of the Fund exceed the stated TER, the Manager will discharge any excess amount out of its own assets. Management fees (inclusive of investment management fees): The Manager is entitled to an annual fee at rates not exceeding those set out on the following table. These rates are the maximum fee rates as at 31 August 2018:

Fund/Share class* iShares $ Corp Bond Interest Rate Hedged UCITS ETF USD (Dist)

TER(%) Currency hedged fund/share class -

TER (%) Unhedged fund/share class 0.25

iShares $ Corp Bond Interest Rate Hedged UCITS ETF USD (Acc)

-

0.25

iShares $ Corp Bond UCITS ETF USD (Dist)

-

0.20

iShares $ Corp Bond UCITS ETF USD (Acc)

-

0.20

iShares $ Corp Bond UCITS ETF EUR Hedged (Dist)**

0.25

-

iShares $ Corp Bond UCITS ETF GBP Hedged (Dist)**

0.25

-

iShares $ Treasury Bond 1-3yr UCITS ETF USD (Dist)

-

0.20

-

0.20

iShares $ Treasury Bond 1-3yr UCITS ETF USD (Acc) iShares $ Treasury Bond 1-3yr UCITS ETF EUR Hedged (Acc)**

0.22

-

iShares $ Treasury Bond 1-3yr UCITS ETF GBP Hedged (Dist)**

0.22

-

iShares $ Treasury Bond 1-3yr UCITS ETF MXN Hedged (Acc)**

0.25

-

-

0.20

iShares € Corp Bond Large Cap UCITS ETF iShares € Govt Bond 1-3yr UCITS ETF

-

0.20

iShares € High Yield Corp Bond UCITS ETF EUR (Dist)

-

0.50

-

0.50

iShares € High Yield Corp Bond UCITS ETF EUR (Acc) iShares € High Yield Corp Bond UCITS ETF USD Hedged (Acc)**

0.55

-


-

0.25


-

0.20


-

0.30


-

0.59


-

0.74


-

0.20

iShares Core FTSE 100 UCITS ETF GBP (Dist)

-

0.07

iShares Core FTSE 100 UCITS ETF USD Hedged (Acc)** iShares Core MSCI EM IMI UCITS ETF USD (Acc)^

0.20

-

-

0.18

iShares Core MSCI EM IMI UCITS ETF USD (Dist)^

-

0.18


-

0.40


-

0.40


-

0.40

* Where a Fund has multiple share classes, any fees, operating costs and expenses which are attributable to a particular share class (rather than the entire Fund) will be deducted from the assets notionally allocated by the Fund to that share class. ** This charge can be up to 1.00%. Any increase in this charge will be subject to prior shareholder approval. ^ The TER of this Fund was amended during the financial period. The TER % in the table above is the maximum fee rate at 31 August 2018. The annualised TER % for the financial period is 0.22% in respect of both the USD (Acc) and USD (Dist) classes.


[69]

iSHARES PLC

NOTES TO THE UNAUDITED FINANCIAL STATEMENTS (continued) For the financial period ended 31 August 2018 4.

OPERATING EXPENSES (continued)

Management fees (inclusive of investment management fees) (continued):

Fund/Share class* iShares Euro Total Market Growth Large UCITS ETF

TER(%) Currency hedged fund/share class -

TER (%) Unhedged fund/share class 0.40


-

0.40


-

0.40


-

0.40


-

0.40


-

0.40

iShares Global Corp Bond UCITS ETF USD (Dist)

-

0.20

iShares Global Corp Bond UCITS ETF USD Hedged (Acc)**

0.25

-

iShares Global Corp Bond UCITS ETF GBP Hedged (Dist)**

0.25

-

iShares Global Corp Bond UCITS ETF USD (Acc)

-

0.20

iShares Global High Yield Corp Bond UCITS ETF USD (Dist)

-

0.50

iShares Global High Yield Corp Bond UCITS ETF USD (Acc)

-

0.50


-

0.74


-

0.74


-

0.74

-

0.75

iShares MSCI EM UCITS ETF USD (Dist) iShares MSCI Europe ex-UK GBP Hedged UCITS ETF (Dist) iShares MSCI Europe ex-UK UCITS ETF iShares MSCI Japan UCITS ETF USD (Dist) iShares MSCI Japan USD Hedged UCITS ETF (Acc)

0.40

-

-

0.40

-

0.59

0.64

-


-

0.74


-

0.40


-

0.74


-

0.50


-

0.07


-

0.40

* Where a Fund has multiple share classes, any fees, operating costs and expenses which are attributable to a particular share class (rather than the entire Fund) will be deducted from the assets notionally allocated by the Fund to that share class. ** This charge can be up to 1.00%. Any increase in this charge will be subject to prior shareholder approval.

Whilst it is anticipated that the TER borne by a Fund or Share Class shall not exceed the amounts set out above during the life of the Fund or Share Class (respectively) such amounts may need to be increased. Any such increase will be subject to the prior Shareholder approval of the relevant Fund or Share Class evidenced either by a majority vote at a meeting of shareholders or by a written resolution of all of the shareholders. As disclosed, no commissions, discounts, brokerages or other special terms have been granted or are payable by the Company in connection with the issue or sale of any capital of the Company. 5. DISTRIBUTIONS TO REDEEMABLE PARTICIPATING SHAREHOLDERS The Company may declare and pay dividends on any distributing class of shares in the Company. In accordance with the prospectus, any dividend which has remained unclaimed for twelve years from the date of its declaration shall be forfeited and cease to remain owing by the Company to investors and become the property of the relevant Fund.

[70]


iSHARES PLC

NOTES TO THE UNAUDITED FINANCIAL STATEMENTS (continued) For the financial period ended 31 August 2018 5. DISTRIBUTIONS TO REDEEMABLE PARTICIPATING SHAREHOLDERS (continued) Distributions declared during the financial period were as follows: iShares $ Corp Bond Interest Rate Hedged UCITS ETF

Company Total

March

31 August 2018 £’000 282,204

31 August 2017 £’000 298,016

31 August 2018 $’000 1,486

31 August 2017 $’000 535

iShares $ Corp Bond UCITS ETF 31 August 2018 $’000 45,066


31 August 2017 $’000 45,813

31 August 2018 $’000 19,103

31 August 2017 $’000 6,862

May

1,023

43,198

-

-

-

-

-

-

June

374,555

319,974

1,529

1,343

46,129

54,556

-

-

July

9,148

10,043

-

-

-

-

-

-

August

3,742

738

-

-

-

-

-

-

670,672

671,969

3,015

1,878

91,195

100,369

19,103

6,862

(33,478)

(41,079)

(343)

(283)

(11,084)

(7,821)

(9,712)

(3,970)

39,786

32,573

216

33

11,537

4,528

8,523

1,396

676,980

663,463

2,888

1,628

91,648

97,076

17,914

4,288

Distributions declared during the financial period Equalisation income Equalisation expense Total


March

31 August 2018 €’000 10,808

31 August 2017 €’000 12,730



31 August 2018 €’000 -

31 August 2017 €’000 -

31 August 2018 €’000 70,495


31 August 2017 €’000 99,224

31 August 2018 £’000 13,929

31 August 2017 £’000 14,564

June

10,539

12,250

-

-

-

-

-

-

Distributions declared during the financial period Equalisation income

21,347

24,980

-

-

70,495

99,224

13,929

14,564

Equalisation expense Total

(377)

(845)

1,684

378

(6,935)

(6,772)

(387)

(1,367)

1,147

976

(1,254)

(1,140)

7,433

18,840

255

184

22,117

25,111

430

(762)

70,993

111,292

13,797

13,381


[71]

iSHARES PLC

NOTES TO THE UNAUDITED FINANCIAL STATEMENTS (continued) For the financial period ended 31 August 2018 5. DISTRIBUTIONS TO REDEEMABLE PARTICIPATING SHAREHOLDERS (continued) iShares AEX UCITS ETF

iShares Asia Pacific Dividend UCITS ETF 31 August 2017 €’000 791

June

4,889

3,822

8,480

7,763

2,284

-

11,002

9,355


6,146

4,613

11,203

10,152

2,284

-

21,161

19,477

(293)

(145)

(411)

(280)

(140)

13

(983)

(1,284)

388

120

256

230

(6)

412

274

718

6,241

4,588

11,048

10,102

2,138

425

20,452

18,911


iShares Core FTSE 100 UCITS ETF 31 August 2018 £’000 41,084

March June Distributions declared during the financial period Equalisation income Equalisation expense Total

[72]


31 August 2017 $’000 2,389


31 August 2017 £’000 40,124

31 August 2018 $’000 -

31 August 2018 $’000 -


31 August 2018 €’000 1,257

March

31 August 2018 $’000 2,723

iShares China Large Cap UCITS ETF 31 August 2017 $’000 -


31 August 2017 $’000 -

31 August 2018 €’000 3,867

31 August 2018 £’000 10,159

31 August 2017 £’000 10,122


31 August 2017 €’000 1,518

31 August 2018 €’000 551

31 August 2017 €’000 500

72,342

62,825

-

-

33,558

30,095

12,868

10,244

113,426

102,949

-

-

37,425

31,613

13,419

10,744

(933)

(1,144)

(1,620)

-

(2,410)

(2,331)

(247)

(1,488)

29

-

-

-

3,065

504

478

18

112,522

101,805

(1,620)

-

38,080

29,786

13,650

9,274

iSHARES PLC

NOTES TO THE UNAUDITED FINANCIAL STATEMENTS (continued) For the financial period ended 31 August 2018 5. DISTRIBUTIONS TO REDEEMABLE PARTICIPATING SHAREHOLDERS (continued) iShares EURO STOXX Small UCITS ETF

March June September Distributions declared during the financial period Equalisation income Equalisation expense Total




31 August 2018 €’000 1,007

31 August 2017 €’000 182

31 August 2018 €’000 122

31 August 2017 €’000 33

31 August 2018 €’000 246

31 August 2017 €’000 318

31 August 2018 €’000 -

14,663

10,328

944

1,206

1,511

2,694

35,102

-

-

-

-

-

-

-

31,879

15,670

10,510

1,066

1,239

1,757

3,012

35,102

31,879

(65)

(1,001)

(32)

(91)

(131)

(127)

(721)

(597)

2,476

-

4

28

43

129

522

2,042

18,081

9,509

1,038

1,176

1,669

3,014

34,903

33,324

iShares FTSE 250 UCITS ETF 31 August 2018 £’000


31 August 2017 £’000

31 August 2018 €’000


31 August 2017 €’000

31 August 2018 €’000

31 August 2017 €’000 -


31 August 2017 €’000

31 August 2018 $’000

31 August 2017 $’000

March

2,178

3,064

-

-

-

-

14,439

11,051

June

9,090

12,404

698

-

599

-

-

-

-

-

-

730

-

777

-

-

11,268

15,468

698

730

599

777

14,439

11,051

(54)

(73)

-

-

-

(5)

(2,175)

(1,554)

September Distributions declared during the financial period Equalisation income Equalisation expense Total

449

-

23

-

-

98

2,522

6

11,663

15,395

721

730

599

870

14,786

9,503


[73]

iSHARES PLC

NOTES TO THE UNAUDITED FINANCIAL STATEMENTS (continued) For the financial period ended 31 August 2018 5. DISTRIBUTIONS TO REDEEMABLE PARTICIPATING SHAREHOLDERS (continued) iShares Global High Yield Corp Bond UCITS ETF




31 August 2018 $’000

31 August 2017 $’000

31 August 2018 $’000

31 August 2017 $’000

31 August 2018 $’000

31 August 2017 $’000

31 August 2018 $’000

31 August 2017 $’000

15,480

19,526

3,155

3,233

5,281

2,456

1,091

806

-

-

11,484

6,360

1,675

1,621

679

735

15,480

19,526

14,639

9,593

6,956

4,077

1,770

1,541 (319)

(605)

(6,281)

(56)

(671)

-

(71)

(432)

3,224

331

1,066

278

-

-

244

750

18,099

13,576

15,649

9,200

6,956

4,006

1,582

1,972


March



31 August 2018 $’000

31 August 2017 $’000

31 August 2018 £’000



31 August 2017 £’000

31 August 2018 €’000

31 August 2017 €’000

31 August 2018 $’000

31 August 2017 $’000

13,668

9,075

-

-

2,888

2,399

-

-

May

-

-

1,023

506

-

-

-

-

June

20,696

15,774

-

-

41,307

48,155

-

-

-

-

-

-

-

-

12,320

12,834

July August Distributions declared during the financial period Equalisation income Equalisation expense Total

[74]


-

-

3,742

738

-

-

-

-

34,364

24,849

4,765

1,244

44,195

50,554

12,320

12,834

(24)

(278)

(140)

(70)

(5,912)

(113)

(651)

499

-

79

-

2,381

339

1,532

1,079

34,839

24,571

4,844

1,104

46,506

44,981

13,739

13,262

iSHARES PLC

NOTES TO THE UNAUDITED FINANCIAL STATEMENTS (continued) For the financial period ended 31 August 2018 5. DISTRIBUTIONS TO REDEEMABLE PARTICIPATING SHAREHOLDERS (continued) iShares MSCI Korea UCITS ETF USD (Dist)




31 August 2018 $’000

31 August 2017 $’000

31 August 2018 $’000

31 August 2017 $’000

31 August 2018 $’000

31 August 2017 $’000

31 August 2018 $’000

31 August 2017 $’000

4,754

4,215

6,119

7,071

-

474

13,470

16,067

-

-

7,052

7,508

-

-

39,748

39,687

4,754

4,215

13,171

14,579

-

474

53,218

55,754

(40)

(94)

(116)

-

(471)

(3,319)

(2,274)

-

208

52

287

566

560

146

539

3,529

4,922

4,173

13,342

15,145

89

(2,699)

51,483

59,283



31 August 2018 $’000

31 August 2017 $’000

March

29,909

25,840

3,838

5,672

June

33,867

29,678

14,935

15,956


63,776

55,518

18,773

21,628

(813)

(640)

(57)

(8)

709

2,441

258

141

63,672

57,319

18,974

21,761



31 August 2018 £’000

31 August 2017 £’000


[75]

iSHARES PLC

NOTES TO THE UNAUDITED FINANCIAL STATEMENTS (continued) For the financial period ended 31 August 2018 6. TAXATION Below is an analysis of the tax charge for the financial period: Financial period ended 31 August 2018 £’000

Financial period ended 31 August 2017 £’000

(75,261)

(56,918)

(1,051)

(316)

Current tax Non-reclaimable overseas income withholding tax Non-reclaimable overseas capital gains tax Deferred tax: Provision for overseas capital gains tax payable Total tax

7,919

(1,829)

(68,393)

(59,063)

Irish tax Under current law and practice, the Company qualifies as an investment undertaking as defined in Section 739B of the Taxes Consolidation Act, 1997, as amended. On that basis it is not chargeable to Irish tax on its income or gains. However, Irish tax may arise on the occurrence of a 'chargeable event'. A chargeable event includes any distribution payments to shareholders or any encashment, redemption, cancellation or transfer of shares and the holding of shares at the end of each eight year period beginning with the acquisition of such shares. No Irish tax will arise on the Company in respect of chargeable events in respect of: a)

A shareholder who is neither Irish resident nor ordinarily resident in Ireland for tax purposes, at the time of the chargeable event, provided appropriate valid declarations in accordance with the provisions of the Taxes Consolidation Act, 1997, as amended, are held by the Company; or the Company has been authorised by the Irish Revenue to make gross payments in the absence of appropriate declarations; and

b) c)

Certain exempted Irish tax resident shareholders who have provided the Company with the necessary signed annual declarations; and Any transaction (which might otherwise be a chargeable event) in relation to shares held in a recognised clearing system as designated by order of the Irish Revenue Commissioners (such as CREST) will not constitute a chargeable event. It is the current intention of the Directors that all the shares in the Company will be held in CREST or another recognised clearing system.

Overseas tax Dividends, interest and capital gains (if any) received on investments made by the Company may be subject to withholding taxes imposed by the country from which the investment income/gains are received and such taxes may not be recoverable by the Company or its shareholders. For financial reporting purposes, and in accordance with FRS 102, the Company must recognise a provision for deferred tax payable arising from material timing differences between the taxation of unrealised gains in the financial statements and actual realisable taxable profits. This change in Brazilian CGT has resulted in the recognition of a provision for deferred tax payable arising from material timing difference between the taxation of unrealised gains in the financial statements and actual realisable taxable profits as detailed on the iShares MSCI Brazil UCITS ETF USD (Dist) financial statements.

[76]


iSHARES PLC

NOTES TO THE UNAUDITED FINANCIAL STATEMENTS (continued) For the financial period ended 31 August 2018 7. SHARE CAPITAL The issued and fully paid redeemable participating share capital is at all times equal to the NAV of the Company. Redeemable participating shares are redeemable at the shareholders' option and are classified as financial liabilities. Redeemable Participating Shares - issued and fully paid

As at 31 August 2018

No. of Shares 2,827,259,931

As at 28 February 2018

2,713,453,311


2,437,242,095

Authorised The authorised share capital of the Company is £30,000 divided into 30,000 subscriber shares of a par value of £1 each and 500,000,000,000 participating shares of no par value ("NPV"). Subscriber shares There are 30,000 subscriber shares currently in issue which are held by the Manager and nominees of the Manager. They do not form part of the NAV of the Company. They are thus disclosed in the financial statements by way of this note only. In the opinion of the Directors this disclosure reflects the nature of the Company’s investment business. Voting rights The holders of the subscriber shares and redeemable participating shares shall on a poll, be entitled to one vote per share.


[77]

iSHARES PLC

NOTES TO THE UNAUDITED FINANCIAL STATEMENTS (continued) For the financial period ended 31 August 2018 8. NET ASSETS ATTRIBUTABLE TO REDEEMABLE PARTICIPATING SHAREHOLDERS iShares $ Corp Bond Interest Rate Hedged UCITS ETF USD (Dist) Net asset value

iShares $ Corp Bond Interest Rate Hedged iShares $ Corp Bond UCITS ETF USD (Acc)* UCITS ETF USD (Dist)

iShares $ Corp Bond UCITS ETF EUR Hedged (Dist)

iShares $ Corp Bond UCITS ETF USD (Acc)

iShares $ Corp Bond UCITS ETF GBP Hedged (Dist)*


$’000 234,070

$’000 2,210

$’000 4,590,573

$’000 421,951

€’000 30,380

£’000 12,711


245,580

-

5,190,969

423,405

53,462

-

No. of Shares 82,887,819


Shares in issue As at 31 August 2018


No. of Shares 435,017



2,481,136

-

46,004,494

83,492,661

11,049,923

-

Net asset value per share As at 31 August 2018

$ 97.19

$ 5.08

$ 111.29

$ 5.09

€ 4.71

£ 4.98


98.98

-

112.84

5.07

4.84

-


iShares $ Treasury Bond 1-3yr UCITS ETF USD (Dist) Net asset value

iShares $ Treasury iShares $ Treasury Bond 1-3yr UCITS ETF Bond 1-3yr UCITS ETF USD (Acc) EUR Hedged (Acc)*

iShares $ Treasury Bond 1-3yr UCITS ETF GBP Hedged (Dist)*

iShares $ Treasury Bond 1-3yr UCITS ETF MXN Hedged (Acc)*



$’000 2,952,140

$’000 567,408

€’000 36,866

£’000 20,736

MXN 200

€’000 3,670,642


2,677,738

232,348

-

-

-

4,228,854








20,445,706

46,648,405

-

-

-

31,238,382


$ 131.02

$ 5.02

€ 4.97

£ 4.99

MXN 5.00

€ 134.62


130.97

4.98

-

-

-

135.37


* Share class seeded/launched during the financial period ended 31 August 2018.

[78]


iSHARES PLC

NOTES TO THE UNAUDITED FINANCIAL STATEMENTS (continued) For the financial period ended 31 August 2018 8. NET ASSETS ATTRIBUTABLE TO REDEEMABLE PARTICIPATING SHAREHOLDERS (continued) iShares € Govt Bond 1-3yr UCITS ETF Net asset value

iShares € High Yield iShares € High Yield Corp Bond UCITS ETF Corp Bond UCITS ETF EUR (Dist) EUR (Acc)

iShares € High Yield Corp Bond UCITS ETF USD Hedged (Acc)




€’000 1,230,271

€’000 4,456,027

€’000 40,745

$’000 13,564

€’000 1,353,590

£’000 1,385,014


1,152,887

4,294,467

17,049

84,669

1,228,874

1,387,025








7,980,000

40,266,387

3,408,320

16,835,442

5,879,972

13,086,506


€ 143.05

€ 105.09

€ 5.02

$ 5.11

€ 207.61

£ 105.61


144.47

106.65

5.00

5.03

208.99

105.99

iShares Core FTSE 100 UCITS ETF GBP (Dist)

iShares Core FTSE 100 UCITS ETF USD Hedged (Acc)


iShares AEX UCITS ETF Net asset value





€’000 350,583

$’000 460,743

$’000 639,894

£’000 1,635,383

£’000 5,796,782

$’000 13,961


329,848

479,190

680,752

1,509,682

5,414,662

9,809








6,150,000

16,100,000

4,950,000

10,515,317

756,413,990

2,010,000


€ 56.09

$ 27.43

$ 123.06

£ 142.82

£ 7.39

$ 5.17


53.63

29.76

137.53

143.57

7.16

4.88



[79]

iSHARES PLC

NOTES TO THE UNAUDITED FINANCIAL STATEMENTS (continued) For the financial period ended 31 August 2018 8. NET ASSETS ATTRIBUTABLE TO REDEEMABLE PARTICIPATING SHAREHOLDERS (continued) iShares Core MSCI EM IMI UCITS ETF USD (Acc) Net asset value

iShares Core MSCI EM IMI UCITS ETF USD (Dist)*






$’000 9,442,979

$’000 134,723

€’000 873,306

€’000 683,323

€’000 605,358

€’000 97,599


9,460,691

-

964,042

717,542

1,073,513

88,309








304,345,540

-

42,600,000

11,900,000

30,150,000

2,500,000


$ 27.94

$ 4.54

€ 21.30

€ 61.56

€ 34.79

€ 37.54


31.09

-

22.63

60.30

35.61

35.32


iShares Euro Total Market Value Large UCITS ETF Net asset value





iShares Global Corp Bond UCITS ETF USD (Dist)


€’000 56,149

€’000 1,470,141

£’000 842,112

€’000 29,113

€’000 26,256

$’000 1,072,126


63,887

1,315,924

865,831

32,689

26,353

1,151,127




Shares in issue As at 31 August 2018 As at 28 February 2018




2,800,000

33,600,000

46,000,000

2,771,769

975,000

11,644,324


€ 21.60

€ 42.99

£ 19.81

€ 11.59

€ 26.93

$ 96.44


22.82

39.16

18.82

11.79

27.03

98.86

* Share class launched during the financial period ended 31 August 2018.

[80]


iSHARES PLC

NOTES TO THE UNAUDITED FINANCIAL STATEMENTS (continued) For the financial period ended 31 August 2018 8. NET ASSETS ATTRIBUTABLE TO REDEEMABLE PARTICIPATING SHAREHOLDERS (continued) iShares Global Corp Bond UCITS ETF USD Hedged (Acc) Net asset value

iShares Global Corp Bond UCITS ETF GBP Hedged (Dist)*

iShares Global Corp Bond UCITS ETF USD (Acc)*

iShares Global High iShares Global High Yield Corp Bond UCITS Yield Corp Bond UCITS ETF USD (Dist) ETF USD (Acc)



$’000 186,584

£’000 32,249

$’000 1,055

$’000 558,866

$’000 115,774

$’000 2,273,739


170,979

-

-

756,577

73,587

2,687,165

Shares in issue As at 31 August 2018 As at 28 February 2018







34,260,188

-

-

7,598,585

14,651,264

44,400,000


$ 5.03

£ 5.02

$ 5.02

$ 97.41

$ 5.03

$ 55.19


4.99

-

-

99.57

5.02

60.52

iShares MSCI Eastern Europe Capped UCITS ETF Net asset value


iShares MSCI Europe ex-UK GBP Hedged iShares MSCI Europe ex- iShares MSCI Japan UCITS ETF (Dist) UK UCITS ETF UCITS ETF USD (Dist)



$’000 286,396

$’000 5,390,457

£’000 273,768

€’000 2,052,405

$’000 1,624,268

$’000 543,829


313,276

6,294,155

280,628

2,389,898

1,928,974

683,541








12,100,000

135,800,000

56,000,000

76,000,000

124,200,000

18,900,000


$ 23.48

$ 41.27

£ 5.07

€ 31.58

$ 14.71

$ 36.26


25.89

46.35

5.01

31.45

15.53

36.17


* Share class launched during the financial period ended 31 August 2018.


[81]

iSHARES PLC

NOTES TO THE UNAUDITED FINANCIAL STATEMENTS (continued) For the financial period ended 31 August 2018 8. NET ASSETS ATTRIBUTABLE TO REDEEMABLE PARTICIPATING SHAREHOLDERS (continued) iShares MSCI Korea UCITS ETF USD (Dist) Net asset value







$’000 554,137

$’000 2,215,539

$’000 303,114

$’000 5,926,148

$’000 8,594,824

£’000 683,710


604,613

2,123,525

391,470

5,440,669

8,133,740

677,798








12,200,000

41,600,000

8,300,000

120,600,000

300,400,000

79,600,000


$ 45.80

$ 54.57

$ 47.36

$ 46.37

$ 28.96

£ 8.79


49.56

51.05

47.17

45.11

27.08

8.52


[82]


iSHARES PLC

NOTES TO THE UNAUDITED FINANCIAL STATEMENTS (continued) For the financial period ended 31 August 2018 8. NET ASSETS ATTRIBUTABLE TO REDEEMABLE PARTICIPATING SHAREHOLDERS (continued) iShares MSCI Brazil UCITS ETF USD (Dist) 31 August 2018 $’000

28 February 2018 $’000

319,588

450,211

12,244

22,908

331,832

473,119

12,600,000

12,600,000

$

$

25.36

35.73

26.34

37.55

Net asset value Net asset value attributable to redeemable participating shareholders in accordance with FRS 104 Add: Provision for deferred tax payable Net asset value attributable to redeemable participating shareholders in accordance with the prospectus No. of Shares Shares in issue Net asset value per share Net asset value attributable to redeemable participating shareholders in accordance with FRS 104 Net asset value attributable to redeemable participating shareholders in accordance with the prospectus


[83]

iSHARES PLC

NOTES TO THE UNAUDITED FINANCIAL STATEMENTS (continued) For the financial period ended 31 August 2018 9. EXCHANGE RATES The rates of exchange ruling at 31 August 2018 and 28 February 2018 were:

EUR1=

GBP1=

USD1=

CHF

31 August 2018 1.1252

28 February 2018 1.1526

DKK

7.4552

7.4457

GBP

0.8952

0.8852

NOK

9.7300

9.6195

SEK

10.6303

10.1054

TRY

7.7050

-

USD

1.1635

1.2197

CHF

1.2570

1.3021

DKK

8.3283

8.4115

EUR

1.1171

1.1297

NOK

10.8694

10.8672

SEK

11.8751

11.4162

USD

1.2997

1.3779

AED

3.6732

3.6730

AUD

1.3827

1.2833

BRL

4.1201

3.2488

CAD

1.3040

1.2814

CHF

0.9671

0.9451

CLP

678.2250

594.6700

CNY

6.8296

6.3320

COP

3,054.7550

2,868.4350

CZK

22.1152

20.8335

DKK

6.4076

6.1048

EGP

17.8300

17.6600

EUR

0.8595

0.8199

GBP

0.7694

0.7258

HKD

7.8489

7.8253

HUF IDR

257.4551 13,748.5000

ILS

3.5994

3.4746

INR

70.9263

65.1463

JPY

[84]

280.2536 14,730.0000

110.8850

106.7050

KRW

1,113.1500

1,082.9000

MXN

19.1205

18.8670

MYR

4.1095

3.9170

NOK

8.3627

7.8871

NZD

1.5072

1.3846

PEN

3.3050

3.2615

PHP

53.4680

52.0800

PKR

124.1500

110.5450

PLN

3.6805

3.4268

QAR

3.6410

3.6410

RUB

67.3538

56.2975

SEK

9.1365

8.2855


iSHARES PLC

NOTES TO THE UNAUDITED FINANCIAL STATEMENTS (continued) For the financial period ended 31 August 2018 9. EXCHANGE RATES (continued)

USD1=

SGD

31 August 2018 1.3701

28 February 2018 1.3229

THB

32.7300

31.3900

TRY

6.6223

3.8065

TWD

30.7150

29.1955

ZAR

14.6513

11.8038

EUR

31 August 2018 1.1332

28 February 2018 1.1359

USD

1.3467

1.3126

The average daily rates of exchange at each financial period/year end were:

GBP1=

10. RELATED PARTY TRANSACTIONS Parties are considered to be related if one party has the ability to control the other party or is able to exercise significant influence over the other party, in making financial or operational decisions. The following entities were related parties to the Company during the financial period ended 31 August 2018: Board of Directors of the Company Manager:

BlackRock Asset Management Ireland Limited

Investment Manager, Promoter and Securities Lending Agent:

BlackRock Advisors (UK) Limited

Sub-Investment Managers:

BlackRock Financial Management, Inc. BlackRock (Singapore) Limited BlackRock Asset Management North Asia Limited BlackRock Asset Management Deutschland AG

Representative in Switzerland:

BlackRock Asset Management Schweiz AG

The ultimate holding Company of the Manager, Investment Manager, Promoter and Sub-Investment Managers, Securities Lending Agent and Representative in Switzerland is BlackRock, Inc. a company incorporated in Delaware USA. PNC Financial Services Group, Inc. (“PNC”), is a substantial shareholder in BlackRock Inc. PNC did not provide any services to the Company in the financial periods ended 31 August 2018 and 28 February 2018. Fees payable to the Manager and Investment Manager are paid out of the TER charged to the Funds. The TER forms part of the operating expenses which are included in the condensed income statement. The Investment Manager will discharge the fees and expenses of the SubInvestment Managers. Securities lending income earned by the Funds is disclosed in the condensed income statements of the Funds. There were no soft commissions arrangements entered into by the Investment Manager on behalf of the Company during the financial periods ended 31 August 2018 and 28 February 2018. The non-executive Directors of the Company as at 31 August 2018 are presented in the table below:

Employee of the BlackRock Group No

Director of BlackRock affiliates and/or other funds managed by BlackRock Yes

Paul McGowan

No

Yes

Barry O’Dwyer

Yes

Yes

Teresa O'Flynn

Yes

Yes

Director Paul McNaughton

David Moroney

Yes

Yes

Jessica Irschick

Yes

Yes


[85]

iSHARES PLC

NOTES TO THE UNAUDITED FINANCIAL STATEMENTS (continued) For the financial period ended 31 August 2018 10. RELATED PARTY TRANSACTIONS (continued) The Directors of the Company and the Manager who are also employees of the BlackRock Group are not entitled to receive Directors’ fees. Holdings in other funds managed by BlackRock Investments in funds managed by BlackRock, Inc. and BlackRock affiliates are listed below and marked on the relevant Funds’ schedules of investments. Details of the management fee rebates applied to investments in iShares Funds are set out in the condensed income statement. The investments into ICS funds is included in cash equivalents and is managed by BlackRock Asset Management Ireland Limited. No management fees are included as a result of any of the investments in ICS however an annual expense capped at 0.03% of NAV is charged. The Company invested in the following Funds which are also managed by BlackRock Asset Management Ireland Limited. Further information on the fees incurred from investing in these underlying funds is presented in the table below. These disclosed fees are the maximum charges capped as per the prospectus of the underlying Funds and actual fees charged may be lower.

Investments

Fee paid by Fund

Investment Company – UCITS authorised in Ireland by CBI iShares $ Corp Bond Interest Rate Hedged UCITS ETF Institutional Cash Series Plc - Institutional US Dollar Liquidity Fund

Annual expense capped at 0.03% of NAV

iShares € Corp Bond Large Cap UCITS ETF Institutional Cash Series Plc - Institutional Euro Liquidity Fund


iShares € Govt Bond 1-3yr UCITS ETF Institutional Cash Series Plc - Institutional Euro Liquidity Fund


iShares € High Yield Corp Bond UCITS ETF Institutional Cash Series Plc - Institutional Euro Liquidity Fund


iShares € Inflation Linked Govt Bond UCITS ETF Institutional Cash Series Plc - Institutional Euro Liquidity Fund


iShares £ Corp Bond 0-5yr UCITS ETF Institutional Cash Series Plc - Institutional Sterling Liquidity Fund


iShares Core £ Corp Bond UCITS ETF Institutional Cash Series Plc - Institutional Sterling Liquidity Fund


iShares Global Corp Bond UCITS ETF Institutional Cash Series Plc - Institutional Euro Liquidity Fund


Institutional Cash Series Plc - Institutional Sterling Liquidity Fund Institutional Cash Series Plc - Institutional US Dollar Liquidity Fund iShares Global High Yield Corp Bond UCITS ETF Institutional Cash Series Plc - Institutional US Dollar Liquidity Fund


iShares MSCI AC Far East ex-Japan UCITS ETF iShares MSCI China A UCITS ETF

Total expense ratio of 0.40%

All related party transactions were carried out at arm’s length in the ordinary course of business. The terms and returns received by the related parties in making the investments above were no more favourable than those received by other investors investing into the same share classes. Significant holdings The following investors i)

are funds managed by the BlackRock Group or are affiliates of BlackRock, Inc. or

ii)

are investors (other than those listed in (i) above) who held more than 20% of the voting shares in issue in the Company and are as a result, considered to be related parties to the Company

[86]


iSHARES PLC

NOTES TO THE UNAUDITED FINANCIAL STATEMENTS (continued) For the financial period ended 31 August 2018 10. RELATED PARTY TRANSACTIONS (continued) 31 August 2018

Total % of shares held by funds managed by the BlackRock Group or held by affiliates of BlackRock, Inc.

Number of investors holding 20% or more of the voting shares in issue who are not affiliates of BlackRock Group or BlackRock, Inc.

Total % of shares held by shareholders holding 20% or more of the voting shares in issue who are not affiliates of BlackRock Group or BlackRock, Inc.

1

100.00

Number of investors holding 20% or more of the voting shares in issue who are not affiliates of BlackRock Group or BlackRock, Inc.

Total % of shares held by shareholders holding 20% or more of the voting shares in issue who are not affiliates of BlackRock Group or BlackRock, Inc.

1

100.00

Nil 28 February 2018

Total % of shares held by funds managed by the BlackRock Group or held by affiliates of BlackRock, Inc. Nil

No provisions have been recognised by the Funds against amounts due from related parties at the financial period end date (28 February 2018: Nil). No amounts have been written off during the financial period in respect of amounts due to or from related parties (28 February 2018: Nil). No commitments secured or unsecured or guarantees have been entered into with related parties during the financial period (28 February 2018: Nil). The Investment Manager has appointed BlackRock Financial Management Inc. and BlackRock (Singapore) Limited, as sub-investment managers to perform certain portfolio management functions in respect of the following Funds: Fund iShares $ Corp Bond Interest Rate Hedged UCITS ETF iShares $ Corp Bond UCITS ETF iShares $ Treasury Bond 1-3yr UCITS ETF iShares € Corp Bond Large Cap UCITS ETF iShares € Govt Bond 1-3yr UCITS ETF iShares € High Yield Corp Bond UCITS ETF iShares € Inflation Linked Govt Bond UCITS ETF iShares £ Corp Bond 0-5yr UCITS ETF iShares Core £ Corp Bond UCITS ETF iShares Global Corp Bond UCITS ETF iShares Global High Yield Corp Bond UCITS ETF The Investment Manager has appointed BlackRock Asset Management North Asia Limited and BlackRock Asset Management Deutschland AG, as sub-investment managers to perform certain portfolio management functions in respect of the following Funds: Fund iShares AEX UCITS ETF iShares Asia Pacific Dividend UCITS ETF iShares China Large Cap UCITS ETF iShares Core FTSE 100 UCITS ETF


[87]

iSHARES PLC

NOTES TO THE UNAUDITED FINANCIAL STATEMENTS (continued) For the financial period ended 31 August 2018 10. RELATED PARTY TRANSACTIONS (continued) Fund iShares Core MSCI EM IMI UCITS ETF iShares Euro Dividend UCITS ETF iShares EURO STOXX Mid UCITS ETF iShares EURO STOXX Small UCITS ETF iShares Euro Total Market Growth Large UCITS ETF iShares Euro Total Market Value Large UCITS ETF iShares European Property Yield UCITS ETF iShares FTSE 250 UCITS ETF iShares FTSEurofirst 80 UCITS ETF iShares FTSEurofirst 100 UCITS ETF iShares MSCI AC Far East ex-Japan UCITS ETF iShares MSCI Brazil UCITS ETF USD (Dist) iShares MSCI Eastern Europe Capped UCITS ETF iShares MSCI EM UCITS ETF USD (Dist) iShares MSCI Europe ex-UK GBP Hedged UCITS ETF (Dist) iShares MSCI Europe ex-UK UCITS ETF iShares MSCI Japan UCITS ETF USD (Dist) iShares MSCI Japan USD Hedged UCITS ETF (Acc) iShares MSCI Korea UCITS ETF USD (Dist) iShares MSCI North America UCITS ETF iShares MSCI Taiwan UCITS ETF iShares MSCI World UCITS ETF iShares S&P 500 UCITS ETF iShares UK Dividend UCITS ETF Securities Lending The total income earned from securities lending transactions is split between the relevant Fund and the Securities Lending Agent. The Funds which undertake securities lending transactions receive at least 62.5%, while the Securities Lending Agent receives up to 37.5% of such income, with all operational costs borne out of the Securities Lending Agent’s share. Income earned during the financial period by the Funds from securities lending transactions is disclosed in the condensed income statement.

[88]


iSHARES PLC

NOTES TO THE UNAUDITED FINANCIAL STATEMENTS (continued) For the financial period ended 31 August 2018 11. SUBSEQUENT EVENTS The ex-date and pay date for distributions of the below Funds occurred post financial period end to date of signing. Fund

Distribution Amount ('000)

iShares $ Corp Bond Interest Rate Hedged UCITS ETF

$1,688


$42,603


$30,865


€10,099


€78,825


£14,889


€2,337


$6,433


$13,747


£10,978


£71,364


$2,721


€2,739


€3,746


€1,691


€127


€234


€4,761


£5,281


$15,283


$13,755


$23,830


$2,651


$6,499


$53,272


€4,083


$683


$7,280


$7,183


$20,032


$32,371


£11,237

A new share class was launched on the following Fund post financial period end as detailed in the below table: Fund

Share Class

Launch Date


MXN Hedged (Acc)

3 September 2018

Other than the above, there have been no events subsequent to the financial period end, which, in the opinion of the Directors of the Company, may have had an impact on the financial statements for the financial period ended 31 August 2018. 12. APPROVAL DATE The financial statements were approved and authorised for issue by the Directors on 24 October 2018.


[89]

iSHARES PLC

Schedule of Investments (unaudited) iSHARES $ CORP BOND INTEREST RATE HEDGED UCITS ETF As at 31 August 2018

Ccy

Holding Investment

Fair value $'000

% of net asset value

Ccy

Transferable Securities Admitted to an Official Stock Exchange Listing or traded on a Regulated Market (28 February 2018: 96.69%)

Corporate Bonds (cont) USD

149,000 Bank of Nova Scotia 2.7% 07/03/2022

146

0.06

USD


54

0.02

USD

43,000 Barrick Gold Corp 5.25% 01/04/2042

45

0.02

USD

85,000 Brookfield Finance Inc 4.7% 20/09/2047

Corporate Bonds USD USD

150,000 Australia & New Zealand Banking Group Ltd 2.55% 23/11/2021 35,000 Barrick PD Australia Finance Pty Ltd 5.95% 15/10/2039

USD

26,000 BHP Billiton Finance USA Ltd 2.875% 24/02/2022

USD


USD USD

199,000 BHP Billiton Finance USA Ltd 5% 30/09/2043 250,000 National Australia Bank Ltd 2.5% 22/05/2022

USD

150,000 National Australia Bank Ltd 2.5% 12/07/2026

USD


USD

194,000 Rio Tinto Finance USA Ltd 3.75% 15/06/2025

USD USD USD USD USD USD USD USD USD


146 39 26 72 223 241 136 146 196 102

0.06

82

0.03

USD

140,000 Canadian Natural Resources Ltd 3.85% 01/06/2027

136

0.06

USD


136

0.06

USD


0.02 0.01 0.03

66

0.03

USD

113,000 Canadian Pacific Railway Co 6.125% 15/09/2115

135

0.06

USD

45,000 Cenovus Energy Inc 4.25% 15/04/2027

0.10 0.10

44

0.02

USD


134

0.06

USD


0.06 0.06

201

0.08

USD

60,000 Enbridge Inc 4% 01/10/2023

61

0.03

USD

40,000 Enbridge Inc 4.25% 01/12/2026

40

0.02

USD

30,000 Enbridge Inc 5.5% 01/12/2046

34

0.01

USD

30,000 Encana Corp 6.5% 15/08/2034

35

0.01

93

0.04

0.08 0.04


69

0.03

63,000 Westpac Banking Corp 2.5% 28/06/2022

61

0.03

USD

65,000 Husky Energy Inc 4% 15/04/2024

65

0.03

0.03

USD

14,000 Manulife Financial Corp 4.15% 04/03/2026

14

0.01

137

0.06

USD

56,000 Manulife Financial Corp 5.375% 04/03/2046

64

0.03

134

0.06

USD

24,000 Nutrien Ltd 3.625% 15/03/2024

24

0.01

USD

104,000 Petro-Canada 6.8% 15/05/2038

132

0.06

64

140,000 Westpac Banking Corp 2.8% 11/01/2022 143,000 Westpac Banking Corp 2.85% 13/05/2026 130,000 Westpac Banking Corp 3.35% 08/03/2027

125

0.05


96

0.04


101

0.04

2,114

0.90

USD

15,000 Rio Tinto Alcan Inc 6.125% 15/12/2033

18

0.01

USD

89,000 Rogers Communications Inc 4.1% 01/10/2023

91

0.04

USD


19

0.01

USD

40,000 Rogers Communications Inc 5% 15/03/2044

42

0.02

Corporate Bonds

USD

97,000 Royal Bank of Canada 2.75% 01/02/2022

95

0.04

85,000 Athene Holding Ltd 4.125% 12/01/2028

USD


Bermuda (28 February 2018: Nil)

Total Bermuda

79

0.03

79

0.03

Canada (28 February 2018: 1.77%)

125

0.05

USD

17,000 Suncor Energy Inc 3.6% 01/12/2024

17

0.01

USD

50,000 Suncor Energy Inc 4% 15/11/2047

47

0.02

USD


144

0.06

59

0.02


[90]

100,000 Fortis Inc 3.055% 04/10/2026

USD


Total Australia

USD


Canada (28 February 2018: 1.77%) (cont)

Bonds (28 February 2018: 96.69%) Australia (28 February 2018: 1.06%)

Holding Investment

Fair value $'000

110,000 Bank of Montreal 2.55% 06/11/2022 60,000 Bank of Nova Scotia 2.45% 19/09/2022


106

0.04 USD

58

0.02


iSHARES PLC

Schedule of Investments (unaudited) (continued) iSHARES $ CORP BOND INTEREST RATE HEDGED UCITS ETF (continued) As at 31 August 2018

Ccy

Holding Investment

Fair value $'000


Ccy

Bonds (28 February 2018: 96.69%) (cont)

Corporate Bonds (cont)

Corporate Bonds (cont) 64,000 Total Capital Canada Ltd 2.75% 15/07/2023

USD

100,000 Deutsche Bank AG 3.95% 27/02/2023

USD

33,000 Deutsche Bank AG 4.25% 14/10/2021

62

0.03

122,000 TransCanada PipeLines Ltd 2.5% 01/08/2022

118

0.05

Total Germany

USD


101

0.04

Guernsey (28 February 2018: 0.39%)

USD


361

0.15

USD

USD


USD


USD


USD


USD

143,000 TransCanada PipeLines Ltd 7.625% 15/01/2039 Total Canada


Germany (28 February 2018: 0.25%) (cont)

Canada (28 February 2018: 1.77%) (cont) USD

Holding Investment

Fair value $'000

31 103 1 36

0.11

389

0.17

USD

150,000 Credit Suisse Group Funding Guernsey Ltd 3.8% 15/09/2022

150

0.06

USD


647

0.27

USD


0.02

1.51

0.02

Corporate Bonds

0.00

3,566

33 250


0.04

0.08

0.04

USD 0.01

191

97

Total Guernsey

154

0.07

1,340

0.57

Ireland (28 February 2018: 1.03%) Corporate Bonds

Cayman Islands (28 February 2018: 0.09%) Corporate Bonds USD

60,000 Seagate HDD Cayman 4.25% 01/03/2022

60

0.03

USD

67,000 Seagate HDD Cayman 4.75% 01/06/2023

67

0.03

USD

86,000 Seagate HDD Cayman 4.75% 01/01/2025 Total Cayman Islands

82

0.03

209

0.09

USD

150,000 AerCap Ireland Capital DAC / AerCap Global Aviation Trust 3.65% 21/07/2027

139

0.06

USD


90

0.04

USD

96,000 AerCap Ireland Capital DAC / AerCap Global Aviation Trust 5% 01/10/2021

99

0.04

USD

200,000 GE Capital International Funding Co Unlimited Co 3.373% 15/11/2025

193

0.08

USD

1,023,000 GE Capital International Funding Co Unlimited Co 4.418% 15/11/2035

986

0.42

USD

347,000 Shire Acquisitions Investments Ireland DAC 2.4% 23/09/2021

335

0.14

USD


257

0.11

USD


France (28 February 2018: 0.67%) Corporate Bonds USD

67,000 BNP Paribas SA 3.25% 03/03/2023

66

0.03

USD

150,000 BPCE SA 4% 15/04/2024

151

0.07

33

0.01

USD USD

32,000 Orange SA 4.125% 14/09/2021 79,000 Orange SA 5.375% 13/01/2042

87

0.04

USD

106,000 Orange SA 5.5% 06/02/2044

118

0.05

USD

390,000 Orange SA 9% 01/03/2031

552

0.23

USD

220,000 Sanofi 3.375% 19/06/2023

221

0.09

Total Ireland Italy (28 February 2018: 0.05%)

USD

31,000 Total Capital International SA 2.7% 25/01/2023

30

0.01

USD


83

0.04

USD


169

0.07

USD

106,000 Total Capital International SA 3.75% 10/04/2024 Total France

108

0.05

1,618

0.69

Germany (28 February 2018: 0.25%) Corporate Bonds USD

127,000 Deutsche Bank AG 3.7% 30/05/2024

120

318

0.13

2,417

1.02

Japan (28 February 2018: 1.27%) Corporate Bonds USD

120,000 Mitsubishi UFJ Financial Group Inc 2.19% 13/09/2021

116

0.05

USD


165

0.07

USD


111

0.05

USD


15

0.01

0.05


[91]

iSHARES PLC


Ccy

Holding Investment

Fair value $'000


Ccy




USD

130,000 Medtronic Global Holdings SCA 3.35% 01/04/2027

USD

98,000 Schlumberger Investment SA 3.65% 01/12/2023


91

0.04


149

0.06

Total Luxembourg

USD


44

0.02

Netherlands (28 February 2018: 2.33%)

USD


35

0.01

USD

USD


USD

120,000 Mizuho Financial Group Inc 2.273% 13/09/2021

USD


USD USD

150,000 Mizuho Financial Group Inc 2.953% 28/02/2022 200,000 Mizuho Financial Group Inc 4.018% 05/03/2028

USD

30,000 Sumitomo Mitsui Financial Group Inc 2.442% 19/10/2021

USD




329 116 111 147 201 29 251 48

128

0.05

99

0.04

1,402

0.59

Corporate Bonds USD

300,000 Cooperatieve Rabobank UA 2.75% 10/01/2023

291

0.12

USD


148

0.06

USD


595

0.25

USD


150

0.06

USD


432

0.18

USD


188

0.08

USD


161

0.07

USD

243,000 Deutsche Telekom International Finance BV 8.75% 15/06/2030

329

0.14

USD

120,000 ING Groep NV 3.95% 29/03/2027

118

0.05

0.14 0.05 0.05 0.06 0.09 0.01 0.11 0.02


165

0.07

USD


77,000 LYB International Finance BV 4% 15/07/2023

78

0.03

147

0.06

USD


82,000 LYB International Finance BV 4.875% 15/03/2044

82

0.04

169

0.07

USD


48,000 LYB International Finance BV 5.25% 15/07/2043

50

0.02

211

0.09

USD


30,000 LYB International Finance II BV 3.5% 02/03/2027

28

0.01

81

0.03

USD


121,000 LyondellBasell Industries NV 4.625% 26/02/2055

113

0.05

195

0.08

USD


120,000 LyondellBasell Industries NV 6% 15/11/2021

128

0.05

38

0.02

USD

296,000 Mylan NV 3.95% 15/06/2026

281

0.12

USD

111,000 Mylan NV 5.25% 15/06/2046

104

0.04

194,000 Sumitomo Mitsui Financial Group Inc 3.784% 09/03/2026 Total Japan

192

0.08

3,156

1.34

USD

70,000 Shell International Finance BV 1.75% 12/09/2021

67

0.03

USD


37

0.02

USD


138

0.06

USD


28

0.01

USD


204

0.09

USD


369

0.16

USD


148

0.06

USD


131

0.06

USD

280,000 Shell International Finance BV 4% 10/05/2046

275

0.12

Luxembourg (28 February 2018: 0.64%) Corporate Bonds USD

240,000 Allergan Funding SCS 3.45% 15/03/2022

USD


381

0.16

USD


142

0.06

USD


USD


USD


[92]


Luxembourg (28 February 2018: 0.64%) (cont)

Japan (28 February 2018: 1.27%) (cont) USD

Holding Investment

Fair value $'000


238

157 137 120

0.10

0.07 0.06 0.05

iSHARES PLC


Ccy

Holding Investment

Fair value $'000


Holding Investment


Switzerland (28 February 2018: 0.24%)

Netherlands (28 February 2018: 2.33%) (cont)

Corporate Bonds USD

Corporate Bonds (cont) 88,000 Shell International Finance BV 4.125% 11/05/2035

90

0.04

USD


190

0.08


86

0.04

USD


USD


USD

59,000 Telefonica Europe BV 8.25% 15/09/2030 Total Netherlands

150,000 Credit Suisse AG 3% 29/10/2021 Total Switzerland

USD

USD

Ccy

Fair value $'000

173 277

0.03 2.36

0.06

Corporate Bonds 10,000 Aon Plc 3.875% 15/12/2025

10

0.00

USD

22,000 AstraZeneca Plc 2.375% 12/06/2022

21

0.01

USD

120,000 AstraZeneca Plc 3.125% 12/06/2027

113

0.05

USD

166,000 AstraZeneca Plc 3.375% 16/11/2025

161

0.07

USD

11,000 AstraZeneca Plc 4% 18/09/2042

11

0.00

USD

99,000 AstraZeneca Plc 4.375% 16/11/2045

98

0.04

USD

240,000 AstraZeneca Plc 6.45% 15/09/2037

Norway (28 February 2018: 0.16%) Corporate Bonds

0.06

148

USD

0.12

77

148

United Kingdom (28 February 2018: 4.71%)

0.07

5,566


298

0.13

USD

33,000 Equinor ASA 2.45% 17/01/2023

32

0.01

USD

320,000 Barclays Plc 3.65% 16/03/2025

302

0.13

USD

68,000 Equinor ASA 2.65% 15/01/2024

66

0.03

USD

120,000 Barclays Plc 3.684% 10/01/2023

117

0.05

USD

6,000 Equinor ASA 3.15% 23/01/2022

6

0.00

USD

120,000 Barclays Plc 4.337% 10/01/2028

114

0.05

USD

79,000 Equinor ASA 3.7% 01/03/2024

80

0.04

USD

200,000 Barclays Plc 4.338% 16/05/2024

199

0.08

USD

30,000 Equinor ASA 3.95% 15/05/2043

29

0.01

USD

240,000 Barclays Plc 4.375% 11/09/2024

232

0.10

USD

196,000 Equinor ASA 4.8% 08/11/2043

213

0.09

USD

210,000 Barclays Plc 4.375% 12/01/2026

205

0.09

USD

46,000 Equinor ASA 5.1% 17/08/2040

52

0.02

USD

200,000 Barclays Plc 4.836% 09/05/2028

191

0.08

478

0.20

USD

120,000 Barclays Plc 4.95% 10/01/2047

113

0.05

USD

210,000 Barclays Plc 5.2% 12/05/2026

207

0.09

Spain (28 February 2018: 0.63%)

USD

120,000 Barclays Plc 5.25% 17/08/2045

118

0.05

Corporate Bonds

USD

67,000 BP Capital Markets Plc 2.5% 06/11/2022

Total Norway

USD USD USD USD USD USD USD USD

120,000 Banco Santander SA 3.125% 23/02/2023

65

0.03

115

0.05

USD



269

0.11

118

0.05

USD



143

0.06

221

0.09

USD



32

0.01

308

0.13

USD

150,000 Telefonica Emisiones SAU 4.103% 08/03/2027


118

0.05

145

0.06

USD



148

0.06

143

0.06

USD



143

0.06

149

0.06

USD



312

0.13

277

0.12

USD

1,476

0.62


116

0.05

USD


86

0.04

USD


61

0.03

USD


73

0.03

USD


69

0.03

Total Spain Sweden (28 February 2018: 0.18%) Corporate Bonds USD

150,000 Svenska Handelsbanken AB 1.875% 07/09/2021 Total Sweden

144

0.06

144

0.06


[93]

iSHARES PLC


Ccy

Holding Investment

Fair value $'000


Ccy


Holding Investment

Fair value $'000


United Kingdom (28 February 2018: 4.71%) (cont)




USD

120,000 Lloyds Banking Group Plc 4.5% 04/11/2024


119

0.05

42

0.02

USD



178

0.08

4

0.00

USD



119

0.05

132

0.06

USD

199,000 British Telecommunications Plc 9.625% 15/12/2030

144,000 Rio Tinto Finance USA Plc 4.125% 21/08/2042

142

0.06

285

0.12

USD

83,000 Diageo Capital Plc 2.625% 29/04/2023

120,000 Royal Bank of Scotland Group Plc 3.875% 12/09/2023

117

0.05

81

0.03

USD

142,000 GlaxoSmithKline Capital Plc 2.85% 08/05/2022


324

0.14

140

0.06

USD

300,000 HSBC Holdings Plc 2.65% 05/01/2022


375

0.16

292

0.12

USD



327

0.14

197

0.08

USD


200,000 Royal Bank of Scotland Group Plc 6% 19/12/2023

209

0.09

199

0.08

USD



105

0.04

260

0.11

USD


120,000 Santander UK Group Holdings Plc 3.571% 10/01/2023

117

0.05

300

0.13

USD

398,000 HSBC Holdings Plc 4% 30/03/2022


186

0.08

404

0.17

USD


94,000 Santander UK Plc 4% 13/03/2024

95

0.04

235

0.10

USD


62,000 Vodafone Group Plc 2.5% 26/09/2022

60

0.03

120

0.05

USD



147

0.06

119

0.05

USD



372

0.16

122

0.05

USD



125

0.05

119

0.05

USD



248

0.10

254

0.11

USD



84

0.04

40

0.02

USD


75,000 Vodafone Group Plc 5% 30/05/2038

75

0.03

336

0.14

USD



252

0.11

184

0.08

USD



167

0.07

143

0.06

USD


232,000 WPP Finance 2010 3.75% 19/09/2024

224

0.09

335

0.14

USD


22,000 WPP Finance 2010 4.75% 21/11/2021

23

0.01

222

0.09

Total United Kingdom

13,880

5.87

USD


172

0.07

United States (28 February 2018: 81.22%)

USD


231

0.10

USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD

USD USD USD

[94]

210,000 Lloyds Banking Group Plc 3.75% 11/01/2027 200,000 Lloyds Banking Group Plc 4.344% 09/01/2048 200,000 Lloyds Banking Group Plc 4.45% 08/05/2025


200 175 202

Corporate Bonds USD

184,000 21st Century Fox America Inc 3% 15/09/2022

181

0.08

USD

266,000 21st Century Fox America Inc 6.15% 01/03/2037

323

0.14

USD


197

0.08

0.08 0.07 0.09

iSHARES PLC


Ccy

Holding Investment

Fair value $'000


Ccy





227

0.10

0.02

USD


60,000 Amazon.com Inc 2.4% 22/02/2023

58

0.02

16

0.01

USD


90,000 Amazon.com Inc 2.5% 29/11/2022

88

0.04

205

0.09

USD

16

0.01

269,000 Amazon.com Inc 2.8% 22/08/2024

262

0.11

USD

382,000 Amazon.com Inc 3.15% 22/08/2027

368

0.16

USD

87,000 Amazon.com Inc 3.3% 05/12/2021

88

0.04

USD

44,000 Amazon.com Inc 3.8% 05/12/2024

45

0.02

USD

285,000 Amazon.com Inc 3.875% 22/08/2037

282

0.12

USD

280,000 Amazon.com Inc 4.05% 22/08/2047

278

0.12

USD

238,000 Amazon.com Inc 4.25% 22/08/2057

239

0.10

USD

67,000 Amazon.com Inc 4.8% 05/12/2034

74

0.03

USD

138,000 Amazon.com Inc 4.95% 05/12/2044

155

0.07

USD

180,000 American Express Co 2.5% 01/08/2022

13,000 3M Co 5.7% 15/03/2037 166,000 ABB Finance USA Inc 2.875% 08/05/2022 97,000 ABB Finance USA Inc 4.375% 08/05/2042 144,000 Abbott Laboratories 2.55% 15/03/2022 195,000 Abbott Laboratories 2.9% 30/11/2021 65,000 Abbott Laboratories 2.95% 15/03/2025

USD

250,000 Abbott Laboratories 3.75% 30/11/2026

USD

215,000 Abbott Laboratories 4.75% 30/11/2036 273,000 Abbott Laboratories 4.9% 30/11/2046 84,000 AbbVie Inc 2.85% 14/05/2023

164 100 140 193 62 207 249 229 297

0.07 0.04 0.06 0.08 0.03 0.09 0.11 0.10

81

0.03

227,000 AbbVie Inc 2.9% 06/11/2022

222

0.09

USD

185,000 AbbVie Inc 3.2% 06/11/2022

183

0.08

USD

349,000 AbbVie Inc 3.2% 14/05/2026

329

0.14

USD

273,000 AbbVie Inc 3.6% 14/05/2025

266

0.11

USD

63,000 AbbVie Inc 4.3% 14/05/2036

60

0.03

USD

151,000 AbbVie Inc 4.4% 06/11/2042

141

0.06

USD

184,000 AbbVie Inc 4.45% 14/05/2046

174

0.07

USD

246,000 AbbVie Inc 4.5% 14/05/2035

241

0.10

USD

249,000 AbbVie Inc 4.7% 14/05/2045

243

0.10

117,000 Activision Blizzard Inc 3.4% 15/09/2026

113

111,000 Aetna Inc 2.75% 15/11/2022

107

0.05

USD

82,000 Aetna Inc 2.8% 15/06/2023

79

0.03

USD

87,000 Aetna Inc 3.5% 15/11/2024

85

0.04

USD

90,000 Aetna Inc 3.875% 15/08/2047

80

0.03

USD

67,000 Aetna Inc 6.625% 15/06/2036

82

0.03

18,000 Aflac Inc 3.625% 15/11/2024

USD

98,000 Allergan Finance LLC 3.25% 01/10/2022

USD USD USD USD USD USD

18

0.01

96

0.04

198,000 Alphabet Inc 1.998% 15/08/2026

180

0.08

57,000 Alphabet Inc 3.375% 25/02/2024

58

0.02

130,000 Altria Group Inc 2.85% 09/08/2022 90,000 Altria Group Inc 3.875% 16/09/2046 145,000 Altria Group Inc 4% 31/01/2024 50,000 Altria Group Inc 4.25% 09/08/2042

128

0.07


36

0.02

USD

51,000 American Express Co 3% 30/10/2024

49

0.02

USD


184

0.08

USD


92

0.04

USD

131,000 American Express Credit Corp 2.7% 03/03/2022

128

0.05

USD

320,000 American Express Credit Corp 3.3% 03/05/2027

312

0.13

USD

95,000 American Honda Finance Corp 1.7% 09/09/2021

91

0.04

USD

107,000 American International Group Inc 3.75% 10/07/2025

104

0.04

USD


147

0.06

USD


172

0.07

USD


25

0.01

USD


89

0.04

USD


232

0.10

USD


99

0.04

USD


42

0.02

USD


552

0.23

0.05

USD

USD

173

USD

0.13

USD

USD

209,000 Altria Group Inc 5.375% 31/01/2044

36

208,000 Abbott Laboratories 3.4% 30/11/2023

USD

USD


USD

USD


United States (28 February 2018: 81.22%) (cont)

United States (28 February 2018: 81.22%) (cont) USD

Holding Investment

Fair value $'000

0.05

80

0.03

148

0.06

47

0.02


[95]

iSHARES PLC


Ccy

Holding Investment

Fair value $'000


Ccy


Holding Investment

Fair value $'000






USD

27,000 Anheuser-Busch InBev Finance Inc 4.625% 01/02/2044

27

0.01

78

0.03

USD


437

0.19

106

0.04

USD


916

0.40

33

0.01

USD

142,000 American Tower Corp 4% 01/06/2025

114,000 Anheuser-Busch InBev Worldwide Inc 2.5% 15/07/2022

110

0.05

141

0.06

USD



249

0.11

196

0.08

USD

215,000 American Water Capital Corp 3.75% 01/09/2047


183

0.08

199

0.08

USD

2,000 American Water Capital Corp 6.593% 15/10/2037


61

0.03

3

0.00

USD

71,000 Ameriprise Financial Inc 4% 15/10/2023

200

0.08

73

0.03

USD

USD

150,000 Amgen Inc 2.25% 19/08/2023

142

0.06


74

0.03

USD

166,000 Amgen Inc 2.6% 19/08/2026

151

0.06

USD

USD

227,000 Amgen Inc 2.65% 11/05/2022

221

0.09

68

0.03


120

0.05

95

0.04

USD


148

0.06

USD


147

0.06

USD


343

0.15

USD


200

0.08

USD

150,000 Anthem Inc 2.95% 01/12/2022

146

0.06

6

0.00


USD USD

83,000 American Tower Corp 3.375% 15/10/2026 107,000 American Tower Corp 3.5% 31/01/2023 35,000 American Tower Corp 3.55% 15/07/2027

71,000 Amgen Inc 3.125% 01/05/2025 100,000 Amgen Inc 3.2% 02/11/2027

USD

59,000 Amgen Inc 3.625% 15/05/2022

59

0.03

USD

111,000 Amgen Inc 3.625% 22/05/2024

111

0.05

USD

109,000 Amgen Inc 3.875% 15/11/2021

111

0.05

USD

175,000 Amgen Inc 4.4% 01/05/2045

169

0.07

USD

113,000 Amgen Inc 4.563% 15/06/2048

112

0.05

USD

207,000 Amgen Inc 4.663% 15/06/2051

204

0.09

USD

30,000 Amgen Inc 5.15% 15/11/2041

32

0.01

117

0.05

USD

109,000 Anadarko Petroleum Corp 5.55% 15/03/2026

USD


USD


USD


USD

85,000 Analog Devices Inc 3.5% 05/12/2026

76 192

0.03 0.08

109

0.05

82

0.03

USD

90,000 Analog Devices Inc 3.9% 15/12/2025

89

0.04

USD

85,000 Andeavor 5.125% 15/12/2026

90

0.04

USD

85,000 Andeavor Logistics LP / Tesoro Logistics Finance Corp 4.25% 01/12/2027

84

0.04


211

0.09

USD USD


USD


USD USD

[96]

130,000 Anheuser-Busch InBev Finance Inc 3.7% 01/02/2024 163,000 Anheuser-Busch InBev Finance Inc 4% 17/01/2043


USD

850 131 146

0.25 0.36 0.06 0.06

6,000 Anthem Inc 3.125% 15/05/2022

USD

269,000 Anthem Inc 3.3% 15/01/2023

266

0.11

USD

67,000 Anthem Inc 3.5% 15/08/2024

66

0.03

USD

125,000 Anthem Inc 3.65% 01/12/2027

119

0.05

USD

100,000 Anthem Inc 4.101% 01/03/2028

98

0.04

USD

125,000 Anthem Inc 4.375% 01/12/2047

117

0.05

USD

45,000 Anthem Inc 4.625% 15/05/2042

44

0.02 0.04

USD

100,000 Anthem Inc 4.65% 15/01/2043

97

USD

133,000 Anthem Inc 4.65% 15/08/2044

129

0.05

USD

50,000 Anthem Inc 5.85% 15/01/2036

57

0.02

USD

54,000 Apache Corp 3.25% 15/04/2022

53

0.02

USD

77,000 Apache Corp 4.25% 15/01/2044

69

0.03

USD

144,000 Apache Corp 4.75% 15/04/2043

138

0.06

USD

190,000 Apache Corp 5.1% 01/09/2040

190

0.08

USD

595

200,000 Anheuser-Busch InBev Worldwide Inc 4% 13/04/2028

43,000 Apache Corp 6% 15/01/2037

48

0.02

USD

150,000 Apple Inc 2.1% 12/09/2022

145

0.06

USD

166,000 Apple Inc 2.15% 09/02/2022

161

0.07

USD

120,000 Apple Inc 2.3% 11/05/2022

117

0.05

USD

120,000 Apple Inc 2.4% 13/01/2023

117

0.05

USD

246,000 Apple Inc 2.4% 03/05/2023

237

0.10

USD

125,000 Apple Inc 2.45% 04/08/2026

116

0.05

USD

60,000 Apple Inc 2.5% 09/02/2022

59

0.03

iSHARES PLC


Ccy

Holding Investment

Fair value $'000


Ccy


Holding Investment

Fair value $'000






USD

350,000 AT&T Inc 4.5% 09/03/2048

303

0.13

USD

176,000 Apple Inc 2.5% 09/02/2025

167

0.07

USD

204,000 AT&T Inc 4.55% *

177

0.08

USD

128,000 Apple Inc 2.7% 13/05/2022

126

0.05

USD

178,000 AT&T Inc 4.75% 15/05/2046

161

0.07

USD

120,000 Apple Inc 2.75% 13/01/2025

116

0.05

USD

279,000 AT&T Inc 4.8% 15/06/2044

254

0.11

USD

176,000 Apple Inc 2.85% 23/02/2023

174

0.07

USD

100,000 AT&T Inc 4.9% 15/08/2037

96

0.04

38

0.02

USD

182,000 AT&T Inc 5.15% 15/03/2042

174

0.07

USD

200,000 Apple Inc 2.9% 12/09/2027

190

0.08

USD

174,000 AT&T Inc 5.15% 15/11/2046

166

0.07

USD

371,000 Apple Inc 3% 09/02/2024

366

0.16

USD

150,000 AT&T Inc 5.15% 15/02/2050

140

0.06

USD

150,000 Apple Inc 3% 20/06/2027

144

0.06

USD

165,000 AT&T Inc 5.25% 01/03/2037

164

0.07

USD

150,000 Apple Inc 3% 13/11/2027

144

0.06

USD

260,000 AT&T Inc 5.35% 01/09/2040

255

0.11

USD

178,000 Apple Inc 3.2% 13/05/2025

176

0.07

USD

255,000 AT&T Inc 5.45% 01/03/2047

253

0.11

USD

224,000 Apple Inc 3.2% 11/05/2027

218

0.09

USD

61,000 AT&T Inc 5.55% 15/08/2041

61

0.03

USD

424,000 Apple Inc 3.25% 23/02/2026

417

0.18

USD

97

0.04

USD

367,000 Apple Inc 3.35% 09/02/2027

361

0.15

USD

135,000 AT&T Inc 5.7% 01/03/2057

135

0.06

USD

145,000 Apple Inc 3.45% 06/05/2024

146

0.06

USD

150,000 AT&T Inc 6% 15/08/2040

157

0.07

USD

184,000 Apple Inc 3.45% 09/02/2045

167

0.07

USD

48,000 AT&T Inc 6.375% 01/03/2041

52

0.02

USD

100,000 Apple Inc 3.75% 12/09/2047

95

0.04

USD

USD

150,000 Apple Inc 3.75% 13/11/2047

142

0.06

74,000 Automatic Data Processing Inc 3.375% 15/09/2025

74

0.03

USD

60,000 AXA Equitable Holdings Inc 3.9% 20/04/2023

60

0.03

107

0.05

USD

39,000 Apple Inc 2.85% 11/05/2024

USD

207,000 Apple Inc 3.85% 04/05/2043

201

0.09

USD

186,000 Apple Inc 3.85% 04/08/2046

180

0.08

USD

120,000 Apple Inc 4.25% 09/02/2047

123

0.05

39

0.02

USD USD

38,000 Apple Inc 4.375% 13/05/2045 32,000 Apple Inc 4.45% 06/05/2044

34

0.01

USD

194,000 Apple Inc 4.5% 23/02/2036

210

0.09

USD

304,000 Apple Inc 4.65% 23/02/2046

331

0.14

USD

172,000 Applied Materials Inc 3.3% 01/04/2027

168

0.07

USD

123,000 Applied Materials Inc 4.35% 01/04/2047

124

0.05

USD

115,000 Archer-Daniels-Midland Co 2.5% 11/08/2026

106

0.05

USD

75,000 Ares Capital Corp 3.5% 10/02/2023

72

0.03

USD

35,000 AT&T Inc 2.625% 01/12/2022

34

0.01

116,000 AT&T Inc 3% 15/02/2022

114

0.05

USD

320,000 AT&T Inc 3% 30/06/2022

313

0.13

USD

110,000 AT&T Inc 3.2% 01/03/2022

109

0.05

USD

245,000 AT&T Inc 3.4% 15/05/2025

233

0.10

USD

200,000 AT&T Inc 3.6% 17/02/2023

199

0.08

USD

80,000 AT&T Inc 3.8% 15/03/2022

81

0.03

USD

160,000 AT&T Inc 3.8% 01/03/2024

159

0.07

USD

169,000 AT&T Inc 3.9% 11/03/2024

169

0.07

USD

USD

93,000 AT&T Inc 3.95% 15/01/2025

92

0.04

USD

331,000 AT&T Inc 4.1% 15/02/2028

322

0.14

USD

237,000 AT&T Inc 4.125% 17/02/2026

234

0.10

USD

190,000 AT&T Inc 4.25% 01/03/2027

188

0.08

USD

264,000 AT&T Inc 4.3% 15/12/2042

226

0.10

USD

180,000 AT&T Inc 4.35% 15/06/2045

154

0.07

USD USD

31,000 AT&T Inc 4.45% 01/04/2024 120,000 AT&T Inc 4.5% 15/05/2035

32

0.01

112

0.05

USD

95,000 AT&T Inc 5.65% 15/02/2047

110,000 AXA Equitable Holdings Inc 4.35% 20/04/2028

USD

90,000 AXA Equitable Holdings Inc 5% 20/04/2048

85

0.04

USD

94,000 Baker Hughes a GE Co LLC 5.125% 15/09/2040

100

0.04

USD

30,000 Baker Hughes a GE Co LLC / Baker Hughes Co-Obligor Inc 2.773% 15/12/2022

29

0.01

USD


222

0.09

USD


91

0.04

USD

260,000 Bank of America Corp 2.503% 21/10/2022

250

0.11

USD


116

0.05

USD


234

0.10

USD


507

0.21

USD


48

0.02

USD


187

0.08

USD


297

0.13

USD


374

0.16

USD


290

0.12

USD


594

0.25


[97]

iSHARES PLC


Ccy

Holding Investment

Fair value $'000


Ccy





82

0.03

0.11

USD


50,000 Bank of New York Mellon Corp 3.4% 29/01/2028

49

0.02

298

0.13

USD



153

0.07

139

0.06

USD



62

0.03

116

0.05

USD


41,000 Barrick North America Finance LLC 5.7% 30/05/2041

45

0.02

158

0.07

USD


136,000 Barrick North America Finance LLC 5.75% 01/05/2043

149

0.06

201

0.09

USD


238,000 BAT Capital Corp 2.764% 15/08/2022

231

0.10

235

0.10

USD

150,000 Bank of America Corp 3.946% *

138

0.06

219,000 BAT Capital Corp 3.222% 15/08/2024

210

0.09

USD

270,000 BAT Capital Corp 3.557% 15/08/2027

253

0.11

USD

198,000 BAT Capital Corp 4.39% 15/08/2037

185

0.08

USD

210,000 BAT Capital Corp 4.54% 15/08/2047

194

0.08

USD

266,000 Baxalta Inc 4% 23/06/2025

268

0.11


USD

138,000 Bank of America Corp 4% 22/01/2025

272

0.12

120,000 Bank of America Corp 4.244% 24/04/2038 328,000 Bank of America Corp 4.25% 22/10/2026

USD


USD

152,000 Bank of America Corp 4.45% 03/03/2026 126,000 Bank of America Corp 5% 21/01/2044

USD


USD


USD

210,000 Bank of America Corp 7.75% 14/05/2038 109,000 Bank of New York Mellon Corp 2.2% 16/08/2023

USD


USD


USD USD USD

[98]

0.06



USD

136

0.05

0.08

USD

USD

125

0.04

183


USD

83


USD

USD


265

123,000 Bank of America Corp 4% 01/04/2024

USD

USD


USD

USD




Holding Investment

Fair value $'000

100,000 Bank of New York Mellon Corp 2.661% 16/05/2023 7,000 Bank of New York Mellon Corp 2.8% 04/05/2026 40,000 Bank of New York Mellon Corp 3% 24/02/2025


205 169 118 325 306 152 135 146 208 285 103 74 117 97 7 39

USD

66,000 Baxalta Inc 5.25% 23/06/2045

71

0.03

USD

92,000 Bayer US Finance II LLC 4.4% 15/07/2044

84

0.04

USD


59

0.03

USD

42,000 BB&T Corp 2.75% 01/04/2022

41

0.02

USD

51,000 BB&T Corp 2.85% 26/10/2024

49

0.02

0.09 0.07 0.05

USD

100,000 BB&T Corp 3.7% 05/06/2025

101

0.04

USD

148,000 Becton Dickinson and Co 2.894% 06/06/2022

144

0.06

USD


60

0.03

USD


156

0.07

USD


263

0.11

USD


171

0.07

USD


146

0.06

USD


81

0.03

USD

76,000 Berkshire Hathaway Energy Co 4.5% 01/02/2045

77

0.03

USD


7

0.00

USD


0.14 0.13 0.06 0.06 0.06 0.09 0.12 0.04 0.03

357

0.15

USD

42,000 Berkshire Hathaway Finance Corp 3% 15/05/2022

42

0.02

USD

100,000 Berkshire Hathaway Finance Corp 4.2% 15/08/2048

102

0.04

USD


8

0.00

0.05 0.04 0.00 0.02

iSHARES PLC


Ccy

Holding Investment

Fair value $'000


Ccy




USD USD USD USD




Holding Investment

Fair value $'000

USD

85,000 Burlington Northern Santa Fe LLC 4.15% 01/04/2045

125,000 Berkshire Hathaway Inc 2.75% 15/03/2023

84

0.04

123

0.05

USD



82

0.03

177

0.08

USD



65

0.03

81

0.03

USD

59,000 Biogen Inc 3.625% 15/09/2022

59

0.03


144

0.06

USD


79,000 Biogen Inc 4.05% 15/09/2025

80

0.03

98

0.04

USD

160,000 Biogen Inc 5.2% 15/09/2045

170

0.07

USD

USD

110,000 Boston Properties LP 2.75% 01/10/2026

55,000 Campbell Soup Co 3.65% 15/03/2023

54

0.02

101

0.04

USD


60,000 Campbell Soup Co 3.95% 15/03/2025

58

0.02

118

0.05

USD


85,000 Campbell Soup Co 4.15% 15/03/2028

82

0.03

105

0.04

USD

34,000 Boston Scientific Corp 3.85% 15/05/2025

150,000 Capital One Bank USA NA 3.375% 15/02/2023

147

0.06

34

0.01

USD

85,000 Boston Scientific Corp 4% 01/03/2028

185,000 Capital One Financial Corp 3.2% 30/01/2023

181

0.08

84

0.04

USD

150,000 Branch Banking & Trust Co 2.625% 15/01/2022


185

0.08

147

0.06

USD

125,000 Brighthouse Financial Inc 3.7% 22/06/2027


27

0.01

112

0.05

USD

125,000 Brighthouse Financial Inc 4.7% 22/06/2047


106

0.04

104

0.04

USD

38,000 Bristol-Myers Squibb Co 2% 01/08/2022


88

0.04

36

0.02

USD

15,000 Bristol-Myers Squibb Co 3.25% 27/02/2027


210

0.09

15

0.01

USD


95

0.04

USD


USD USD USD USD USD USD USD USD USD USD

USD

USD

60,000 Broadcom Corp / Broadcom Cayman Finance Ltd 2.65% 15/01/2023 292,000 Broadcom Corp / Broadcom Cayman Finance Ltd 3% 15/01/2022 60,000 Broadcom Corp / Broadcom Cayman Finance Ltd 3.125% 15/01/2025

USD

106,000 Broadcom Corp / Broadcom Cayman Finance Ltd 3.5% 15/01/2028

USD


USD


57

285

56

0.02

0.12

0.02

96

19

0.01

USD

75,000 Cardinal Health Inc 3.079% 15/06/2024

71

0.03

115

0.05

44

0.02

211

0.09

5

0.00

62

0.03

USD 349

0.15 USD

410

0.17

USD USD

2

0.00


14

0.01


0.00

20,000 Cardinal Health Inc 2.616% 15/06/2022

USD

USD

USD

2

USD

0.04

2,000 Brookfield Finance LLC 4% 01/04/2024


0.08


USD

USD

USD

178

USD

172 59

0.07 0.03

125,000 Cardinal Health Inc 3.41% 15/06/2027 44,000 Caterpillar Inc 3.4% 15/05/2024 219,000 Caterpillar Inc 3.803% 15/08/2042 5,000 CBS Corp 3.5% 15/01/2025 63,000 CBS Corp 4% 15/01/2026 129,000 CC Holdings GS V LLC / Crown Castle GS III Corp 3.849% 15/04/2023

128

0.05

USD

60,000 Celgene Corp 2.75% 15/02/2023

58

0.02

USD

41,000 Celgene Corp 3.25% 15/08/2022

41

0.02

USD

25,000 Celgene Corp 3.25% 20/02/2023

25

0.01

USD

90,000 Celgene Corp 3.45% 15/11/2027

85

0.04

USD

64,000 Celgene Corp 3.55% 15/08/2022

64

0.03


[99]

iSHARES PLC


Ccy

Holding Investment

Fair value $'000


Ccy




USD USD

61

0.03

0.08

USD

240,000 Celgene Corp 3.875% 15/08/2025

32,000 Chubb INA Holdings Inc 3.15% 15/03/2025

31

0.01

236

0.10

USD

135,000 Celgene Corp 3.9% 20/02/2028

131

0.06


103

0.04

USD


141

0.06

USD

118,000 Cigna Corp 3.25% 15/04/2025

111

0.05

65,000 Cigna Corp 3.875% 15/10/2047

56

0.02

12,000 Cigna Corp 4% 15/02/2022

125,000 Celgene Corp 4.35% 15/11/2047

114

0.05

65,000 Celgene Corp 4.55% 20/02/2048

60

0.03

USD

62,000 Celgene Corp 4.625% 15/05/2044

USD

220,000 Celgene Corp 5% 15/08/2045

USD

100,000 Charles Schwab Corp 3.85% 21/05/2025

USD

USD

USD

USD

USD

USD

165,000 Charter Communications Operating LLC / Charter Communications Operating Capital 3.75% 15/02/2028 155,000 Charter Communications Operating LLC / Charter Communications Operating Capital 4.2% 15/03/2028 551,000 Charter Communications Operating LLC / Charter Communications Operating Capital 4.464% 23/07/2022 375,000 Charter Communications Operating LLC / Charter Communications Operating Capital 4.908% 23/07/2025 120,000 Charter Communications Operating LLC / Charter Communications Operating Capital 5.375% 01/05/2047 100,000 Charter Communications Operating LLC / Charter Communications Operating Capital 5.75% 01/04/2048 295,000 Charter Communications Operating LLC / Charter Communications Operating Capital 6.384% 23/10/2035 309,000 Charter Communications Operating LLC / Charter Communications Operating Capital 6.484% 23/10/2045

59

0.02

218

0.09

102

152

148

562

382

113

99

314

331

0.06

0.24

0.16

0.05

0.04

0.13

0.14

134,000 Chevron Corp 2.566% 16/05/2023

130

0.06

USD

90,000 Chevron Corp 2.895% 03/03/2024

88

0.04

USD

253,000 Chevron Corp 3.191% 24/06/2023

USD

[100]

166,000 Chevron Corp 3.326% 17/11/2025 65,000 Chubb Corp 6% 11/05/2037


12

0.01

USD

137,000 Cisco Systems Inc 1.85% 20/09/2021

133

0.06

USD


95

0.04

USD


199

0.08

USD


33

0.01

USD


80

0.03

USD


198

0.08

USD


248

0.11

USD

120,000 Citigroup Inc 2.7% 27/10/2022

116

0.05

USD

225,000 Citigroup Inc 2.75% 25/04/2022

219

0.09

USD

300,000 Citigroup Inc 2.876% 24/07/2023

291

0.12

USD

120,000 Citigroup Inc 2.9% 08/12/2021

118

0.05

USD

200,000 Citigroup Inc 3.142% 24/01/2023

197

0.08

USD

386,000 Citigroup Inc 3.2% 21/10/2026

362

0.15

USD

117,000 Citigroup Inc 3.3% 27/04/2025

113

0.05

USD

191,000 Citigroup Inc 3.4% 01/05/2026

183

0.08

USD

80,000 Citigroup Inc 3.5% 15/05/2023

79

0.03

USD

325,000 Citigroup Inc 3.52% 27/10/2028

307

0.13

USD

235,000 Citigroup Inc 3.668% 24/07/2028

224

0.10

USD

94,000 Citigroup Inc 3.7% 12/01/2026

92

0.04

USD

160,000 Citigroup Inc 3.875% 25/10/2023

161

0.07

USD

32,000 Citigroup Inc 3.875% 26/03/2025

31

0.01

USD

150,000 Citigroup Inc 3.887% 10/01/2028

146

0.06

31

0.01

USD

USD

140,000 Chevron Corp 2.954% 16/05/2026

USD

0.06

111,000 Chevron Corp 2.355% 05/12/2022

USD

USD

0.04

USD

USD


197

USD

USD

USD

199,000 Celgene Corp 3.625% 15/05/2024

USD

USD




Holding Investment

Fair value $'000

107

135 253

0.05

0.06 0.11

32,000 Citigroup Inc 4% 05/08/2024

USD

150,000 Citigroup Inc 4.044% 01/06/2024

152

0.06

USD

77,000 Citigroup Inc 4.05% 30/07/2022

78

0.03

USD

200,000 Citigroup Inc 4.075% 23/04/2029

197

0.08

USD

190,000 Citigroup Inc 4.125% 25/07/2028

184

0.08

USD

78,000 Citigroup Inc 4.281% 24/04/2048

76

0.03

USD

7,000 Citigroup Inc 4.3% 20/11/2026

7

0.00

USD

185,000 Citigroup Inc 4.4% 10/06/2025

185

0.08

USD

340,000 Citigroup Inc 4.45% 29/09/2027

337

0.14

164

0.07

USD

239,000 Citigroup Inc 4.5% 14/01/2022

246

0.10

80

0.03

USD

144,000 Citigroup Inc 4.6% 09/03/2026

145

0.06

iSHARES PLC


Ccy

Holding Investment

Fair value $'000


Ccy


Holding Investment

Fair value $'000






USD

90,000 Comcast Corp 4.6% 15/08/2045

89

0.04

USD

60,000 Citigroup Inc 4.65% 30/07/2045

61

0.03

USD

68,000 Comcast Corp 4.65% 15/07/2042

68

0.03

USD

200,000 Citigroup Inc 4.65% 23/07/2048

204

0.09

USD

33,000 Comcast Corp 4.75% 01/03/2044

33

0.01

USD

158,000 Citigroup Inc 4.75% 18/05/2046

156

0.07

USD

2,000 Comcast Corp 5.65% 15/06/2035

2

0.00

USD

145,000 Citigroup Inc 5.3% 06/05/2044

153

0.07

USD

1,000 Comcast Corp 6.5% 15/11/2035

1

0.00

USD

45,000 Citigroup Inc 5.5% 13/09/2025

48

0.02

USD

25,000 Comcast Corp 7.05% 15/03/2033

32

0.01

USD

43,000 Citigroup Inc 5.875% 30/01/2042

51

0.02

USD

USD

121,000 Citigroup Inc 6.625% 15/06/2032

144

0.06

100,000 Commonwealth Edison Co 4% 01/03/2048

98

0.04

USD

105,000 Concho Resources Inc 3.75% 01/10/2027

USD

79,000 Citigroup Inc 6.675% 13/09/2043

98

0.04

100

0.04

USD

197,000 Citigroup Inc 8.125% 15/07/2039

284

0.12

USD

95,000 Citizens Financial Group Inc 4.3% 03/12/2025

70,000 Concho Resources Inc 4.875% 01/10/2047

71

0.03

95

0.04

USD

231,000 ConocoPhillips 6.5% 01/02/2039

301

0.13

USD

17,000 CME Group Inc 3% 15/09/2022

17

0.01

USD

USD

125,000 CME Group Inc 3% 15/03/2025

49,000 ConocoPhillips Co 4.3% 15/11/2044

51

0.02

USD

77,000 ConocoPhillips Co 4.95% 15/03/2026

83

0.04

USD

149,000 ConocoPhillips Holding Co 6.95% 15/04/2029

USD

122

0.05

USD

41,000 CME Group Inc 5.3% 15/09/2043

49

0.02

USD

70,000 Coca-Cola Co 2.25% 01/09/2026

64

0.03

USD

77,000 Coca-Cola Co 2.5% 01/04/2023

75

0.03

190,000 Coca-Cola Co 2.875% 27/10/2025

184

0.08

USD

125,000 Coca-Cola Co 3.2% 01/11/2023

125

0.05

USD

88,000 Coca-Cola Co 3.3% 01/09/2021

89

0.04

USD

75,000 Columbia Pipeline Group Inc 4.5% 01/06/2025

USD

25,000 Comcast Cable Communications Holdings Inc 9.455% 15/11/2022

31

0.01

USD

175,000 Comcast Corp 2.35% 15/01/2027

156

0.07

USD

86,000 Comcast Corp 2.75% 01/03/2023

84

0.04

USD

USD USD

150,000 Comcast Corp 3% 01/02/2024 62,000 Comcast Corp 3.125% 15/07/2022

0.06

61

0.03 0.14

100,000 Comcast Corp 3.15% 15/02/2028

94

0.04

280,000 Comcast Corp 3.2% 15/07/2036

240

0.10

145,000 Comcast Corp 3.3% 01/02/2027

139

0.06

341,000 Comcast Corp 3.15% 01/03/2026

USD USD USD

USD

146

141,000 Comcast Corp 3.375% 15/02/2025 174,000 Comcast Corp 3.375% 15/08/2025

137

0.08

31,000 Consolidated Edison Co of New York Inc 4.45% 15/03/2044

32

0.01

USD


80

0.03

USD

105,000 Constellation Brands Inc 4.25% 01/05/2023

107

0.05

USD

57,000 Costco Wholesale Corp 2.3% 18/05/2022

55

0.02

USD

120,000 Costco Wholesale Corp 2.75% 18/05/2024

116

0.05

0.03

325

USD

USD

76

187

USD

USD

72,000 Costco Wholesale Corp 3% 18/05/2027

69

0.03

USD

160,000 Crown Castle International Corp 3.65% 01/09/2027

152

0.06

USD


148

0.06

USD


67

0.03

USD


145

0.06

USD

150,000 CSX Corp 3.8% 01/03/2028

148

0.06

0.06

169

0.07

USD

127,000 CSX Corp 4.1% 15/03/2044

120

0.05

USD

56,000 Comcast Corp 3.4% 15/07/2046

46

0.02

USD

140,000 CSX Corp 4.3% 01/03/2048

136

0.06

USD

100,000 Comcast Corp 3.55% 01/05/2028

97

0.04

USD

USD

225,000 Comcast Corp 3.9% 01/03/2038

209

0.09

160,000 CVS Health Corp 2.75% 01/12/2022

154

0.07

USD

188,000 CVS Health Corp 2.875% 01/06/2026

172

0.07

USD

46,000 CVS Health Corp 3.5% 20/07/2022

46

0.02

USD

605,000 CVS Health Corp 3.7% 09/03/2023

605

0.26

USD

154,000 CVS Health Corp 3.875% 20/07/2025

USD

310,000 Comcast Corp 3.969% 01/11/2047

280

0.12

USD

205,000 Comcast Corp 3.999% *

186

0.08

USD

220,000 Comcast Corp 4% 15/08/2047

200

0.08

USD

150,000 Comcast Corp 4% 01/03/2048

136

0.06

USD

178,000 Comcast Corp 4.049% 01/11/2052

158

0.07

151

0.06

USD

48,000 Comcast Corp 4.2% 15/08/2034

47

0.02

USD

216,000 CVS Health Corp 4% 05/12/2023

217

0.09

USD

148,000 Comcast Corp 4.25% 15/01/2033

147

0.06

USD

USD

176,000 Comcast Corp 4.4% 15/08/2035

174

0.07

460,000 CVS Health Corp 4.1% 25/03/2025

461

0.20


[101]

iSHARES PLC


Ccy

Holding Investment

Fair value $'000


Ccy




USD USD USD USD

70

0.03

51

0.02

127

0.05

0.35

USD

580,000 CVS Health Corp 4.78% 25/03/2038

41,000 Dow Chemical Co 7.375% 01/11/2029

577

0.24

USD

735,000 CVS Health Corp 5.05% 25/03/2048

83,000 Dow Chemical Co 9.4% 15/05/2039

749

0.32

USD

324,000 CVS Health Corp 5.125% 20/07/2045

35,000 Duke Energy Carolinas LLC 5.3% 15/02/2040

41

0.02

331

0.14

USD

101,000 Duke Energy Corp 1.8% 01/09/2021

97

0.04

130

0.06

USD

47

0.02

246,000 Duke Energy Corp 2.65% 01/09/2026

224

0.10

USD

60,000 Duke Energy Corp 3.15% 15/08/2027

56

0.02

USD

54,000 Duke Energy Corp 3.75% 15/04/2024

54

0.02

USD

209,000 Duke Energy Corp 3.75% 01/09/2046

92,000 Daimler Finance North America LLC 8.5% 18/01/2031 48,000 Deere & Co 2.6% 08/06/2022 109,000 Deere & Co 3.9% 09/06/2042

USD

303,000 Dell International LLC / EMC Corp 5.45% 15/06/2023

USD


USD


107

0.05

USD


207

0.09

USD

87,000 Devon Energy Corp 3.25% 15/05/2022

USD


USD

60,000 Devon Energy Corp 5% 15/06/2045

USD


109 318 435

86 45 61 113

0.05 0.14 0.18

0.04 0.02 0.03 0.05

38,000 Diageo Investment Corp 2.875% 11/05/2022

38

0.02

15,000 Digital Realty Trust LP 3.7% 15/08/2027

14

0.01

USD

67,000 Discovery Communications LLC 2.95% 20/03/2023

USD


USD

66,000 Dow Chemical Co 5.25% 15/11/2041

818

USD

USD

USD

825,000 CVS Health Corp 4.3% 25/03/2028

USD

USD




Holding Investment

Fair value $'000


64 157 33

0.03 0.07 0.01

187

0.08

USD

29,000 Duke Energy Florida LLC 6.4% 15/06/2038

37

0.02

USD

24,000 Eastman Chemical Co 3.6% 15/08/2022

24

0.01

USD


41

0.02

USD


69

0.03

USD

268,000 Eaton Corp 2.75% 02/11/2022

261

0.11

USD

89,000 Eaton Corp 4.15% 02/11/2042

85

0.04

USD

83,000 eBay Inc 2.6% 15/07/2022

80

0.03

USD

80,000 eBay Inc 2.75% 30/01/2023

77

0.03

USD

8,000 eBay Inc 3.45% 01/08/2024

8

0.00

USD

135,000 eBay Inc 3.6% 05/06/2027

129

0.05

USD

59,000 eBay Inc 3.8% 09/03/2022

60

0.03

USD

29,000 eBay Inc 4% 15/07/2042

24

0.01

USD

50,000 Ecolab Inc 2.7% 01/11/2026

47

0.02

USD

64,000 Ecolab Inc 3.95% 01/12/2047

62

0.03

USD

26,000 Ecolab Inc 4.35% 08/12/2021

27

0.01

USD

8,000 Ecolab Inc 5.5% 08/12/2041

9

0.00

156

0.07

USD

134,000 Discovery Communications LLC 5% 20/09/2037

131

0.06

USD

USD


160,000 EI du Pont de Nemours & Co 2.8% 15/02/2023

102

0.04

USD


34,000 EI du Pont de Nemours & Co 4.15% 15/02/2043

32

0.01

93

0.04

USD

25,000 Eli Lilly & Co 2.35% 15/05/2022

24

0.01

USD

30,000 Dollar Tree Inc 3.7% 15/05/2023

30

0.01

USD

29,000 Eli Lilly & Co 2.75% 01/06/2025

28

0.01

USD

80,000 Dollar Tree Inc 4% 15/05/2025

80

0.03

USD

15,000 Eli Lilly & Co 3.1% 15/05/2027

15

0.01

USD

195,000 Dollar Tree Inc 4.2% 15/05/2028

192

0.08

USD

130,000 Eli Lilly & Co 3.7% 01/03/2045

126

0.05

USD

129,000 Dominion Energy Inc 3.9% 01/10/2025

USD

141,000 Eli Lilly & Co 3.95% 15/05/2047

142

0.06

USD

USD USD USD USD

[102]

128

0.05

USD

30,000 Dow Chemical Co 3% 15/11/2022

85,000 Emera US Finance LP 3.55% 15/06/2026

81

0.03

29

0.01

USD

163,000 Dow Chemical Co 3.5% 01/10/2024

183,000 Emera US Finance LP 4.75% 15/06/2046

183

0.08

160

0.07

USD

165,000 Dow Chemical Co 4.125% 15/11/2021

80,000 Enable Midstream Partners LP 4.95% 15/05/2028

79

0.03

168

0.07

USD

172,000 Dow Chemical Co 4.375% 15/11/2042

37,000 Energy Transfer Partners LP 3.6% 01/02/2023

37

0.02

163

0.07


iSHARES PLC


Ccy

Holding Investment

Fair value $'000


Ccy





USD

47,000 Exelon Generation Co LLC 5.6% 15/06/2042

48

0.02


89

0.04


13

0.01

USD


100

0.04

USD


164

0.07

102

0.04

USD


77,000 Express Scripts Holding Co 3% 15/07/2023

74

0.03

46

0.02

USD


31,000 Express Scripts Holding Co 3.4% 01/03/2027

29

0.01

29

0.01

USD



118

0.05

58

0.02

USD

100,000 Energy Transfer Partners LP 6% 15/06/2048


62

0.03

107

0.05

USD



240

0.10

136

0.06

USD


93

0.04

116

0.05

USD


161

0.07

USD

155,000 Exxon Mobil Corp 2.397% 06/03/2022

152

0.06

USD

113,000 Exxon Mobil Corp 2.709% 06/03/2025

109

0.05

USD

199,000 Exxon Mobil Corp 2.726% 01/03/2023

196

0.08

USD

209,000 Exxon Mobil Corp 3.043% 01/03/2026

204

0.09

USD

69,000 Exxon Mobil Corp 3.176% 15/03/2024

69

0.03

USD

53,000 Exxon Mobil Corp 3.567% 06/03/2045

50

0.02

USD

214,000 Exxon Mobil Corp 4.114% 01/03/2046

92,000 Energy Transfer Partners LP / Regency Energy Finance Corp 5.875% 01/03/2022

USD

135,000 Enterprise Products Operating LLC 3.35% 15/03/2023

USD


USD


USD


USD


USD


USD


USD


98 134 22 76 61 141 91 32 175

0.04 0.06 0.01 0.03 0.03 0.06

0.01 0.07

219

0.09

28

0.01

USD

100,000 FedEx Corp 4.05% 15/02/2048

91

0.04

USD

119,000 FedEx Corp 4.4% 15/01/2047

114

0.05 0.02

USD

51,000 FedEx Corp 4.55% 01/04/2046

50

USD

147,000 FedEx Corp 4.75% 15/11/2045

148

0.06

USD

71,000 FedEx Corp 5.1% 15/01/2044

75

0.03

2

0.00

117

0.05

14

0.01

USD


107

0.05

USD

USD


91

0.04

USD

101,000 EOG Resources Inc 2.625% 15/03/2023

98

0.04

USD

16,000 EOG Resources Inc 4.15% 15/01/2026

16

0.01

USD

USD

0.02

USD

60,000 EQT Corp 3% 01/10/2022

58

0.02

USD

240,000 EQT Corp 3.9% 01/10/2027

226

0.10

USD

60,000 EQT Corp 4.875% 15/11/2021

62

0.03

USD

28,000 ERP Operating LP 4.5% 01/07/2044

29

0.01

128,000 ERP Operating LP 4.625% 15/12/2021

133

0.06

113,000 Exelon Corp 3.4% 15/04/2026

USD USD

109

0.05

USD

30,000 Exelon Corp 3.95% 15/06/2025

30

0.01

USD

37,000 Exelon Corp 4.45% 15/04/2046

37

0.02


29,000 FedEx Corp 3.25% 01/04/2026


51

175,000 Expedia Group Inc 3.8% 15/02/2028

USD

0.04

USD

USD




Holding Investment

Fair value $'000

2,000 Fidelity National Information Services Inc 2.25% 15/08/2021 126,000 Fidelity National Information Services Inc 3% 15/08/2026 14,000 Fidelity National Information Services Inc 3.5% 15/04/2023 203,000 Fidelity National Information Services Inc 5% 15/10/2025

215

0.09

USD

83,000 Fifth Third Bancorp 4.3% 16/01/2024

84

0.04

USD


140

0.06

USD

125,000 FirstEnergy Corp 3.9% 15/07/2027

123

0.05

USD


118

0.05

51

0.02

USD



[103]

iSHARES PLC


Ccy

Holding Investment

Fair value $'000


Ccy



Corporate Bonds (cont) USD USD USD USD

3,000 Fiserv Inc 3.85% 01/06/2025




Holding Investment

Fair value $'000

3

USD

50,000 General Mills Inc 3.7% 17/10/2023

50

0.02

USD

85,000 General Mills Inc 4% 17/04/2025

85

0.04

0.00

120,000 Florida Power & Light Co 3.95% 01/03/2048

119

0.05

USD

280,000 Ford Motor Co 4.346% 08/12/2026

110

0.05

264

0.11

USD

155,000 Ford Motor Co 4.75% 15/01/2043

128

0.05

65,000 General Motors Co 4.2% 01/10/2027

62

0.03

USD


198

0.08

95,000 Ford Motor Co 5.291% 08/12/2046

84

0.04

USD

131,000 Ford Motor Co 7.45% 16/07/2031

USD

320,000 Ford Motor Credit Co LLC 2.979% 03/08/2022

303

0.13

USD


203

0.09

USD


USD


USD


USD


USD


145

115 359 199 119

0.06

0.05 0.15 0.08 0.05

USD


30,000 General Motors Co 5% 01/04/2035

28

0.01

USD


94

0.04

USD


55

0.02

USD


95

0.04

93

0.04

113

0.05

USD USD USD

89,000 General Motors Co 6.25% 02/10/2043 106,000 General Motors Co 6.6% 01/04/2036 77,000 General Motors Co 6.75% 01/04/2046

84

0.04

USD

170,000 General Motors Financial Co Inc 3.15% 30/06/2022

190

0.08

165

0.07

USD

86,000 Fortive Corp 3.15% 15/06/2026

81

0.03

USD

USD

8,000 General Dynamics Corp 2.25% 15/11/2022


145

0.06

8

0.00

USD



49

0.02

100

0.04

USD



188

0.08

101

0.04

USD



34

0.01

101

0.04

USD

291,000 General Electric Co 2.7% 09/10/2022


253

0.11

284

0.12

USD


50,000 General Motors Financial Co Inc 4% 15/01/2025

49

0.02

203

0.09

USD


50,000 General Motors Financial Co Inc 4% 06/10/2026

48

0.02

7

0.00

USD



68

0.03

34

0.01

USD



116

0.05

164

0.07

USD



157

0.07

188

0.08

USD



146

0.06

105

0.04

USD


165,000 Georgia Power Co 4.3% 15/03/2042

159

0.07

350

0.15

USD


145,000 Gilead Sciences Inc 2.5% 01/09/2023

139

0.06

118

0.05

USD



95

0.04

275

0.12

USD



31

0.01

166

0.07

USD


31

0.01

81

0.03

USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD

[104]



iSHARES PLC


Ccy

Holding Investment

Fair value $'000


Ccy




USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD




Holding Investment

Fair value $'000

USD

181,000 Goldman Sachs Group Inc 3.85% 08/07/2024


181

0.08

231

0.10

USD



370

0.16

230

0.10

USD

25,000 Gilead Sciences Inc 4% 01/09/2036

285,000 Goldman Sachs Group Inc 4% 03/03/2024

287

0.12

24

0.01

USD



279

0.12

196

0.08

USD



297

0.13

150

0.06

USD



208

0.09

148

0.06

USD


24

0.01

33

0.01

USD



162

0.07

233

0.10

USD



124

0.05

214

0.09

USD



216

0.09

37

0.02

USD

68,000 GlaxoSmithKline Capital Inc 2.8% 18/03/2023


465

0.20

66

0.03

USD



173

0.07

100

0.04

USD



437

0.19

101

0.04

USD



506

0.21

102

0.04

USD

75,000 Halliburton Co 3.5% 01/08/2023

75

0.03

USD

120,000 Halliburton Co 3.8% 15/11/2025

120

0.05


310

0.13


145

0.06


294

0.12


106

0.05


146

0.06

334

0.14


177

0.08

89

0.04


USD


USD


USD


USD


USD


USD


USD


USD

73,000 Halliburton Co 4.75% 01/08/2043

74

0.03

USD

160,000 Halliburton Co 4.85% 15/11/2035

168

0.07

USD

192,000 Halliburton Co 5% 15/11/2045

204

0.09

USD

8,000 Halliburton Co 6.7% 15/09/2038

10

0.00

USD

71,000 Halliburton Co 7.45% 15/09/2039

94

0.04

USD

31,000 HCP Inc 3.875% 15/08/2024

31

0.01

USD

20,000 HCP Inc 4% 01/06/2025

20

0.01

USD

340,000 Goldman Sachs Group Inc 3% 26/04/2022

122 128 173 411 231 106 191

0.05 0.05 0.07 0.17 0.10 0.04 0.08


150,000 HCP Inc 4.25% 15/11/2023

151

0.06 0.02

USD

42,000 Hess Corp 4.3% 01/04/2027

41

USD

121,000 Hess Corp 5.6% 15/02/2041

123

0.05

USD

57,000 Hess Corp 6% 15/01/2040

59

0.03

USD

73,000 Hewlett Packard Enterprise Co 4.4% 15/10/2022

75

0.03

USD


215

0.09

USD


92

0.04

USD


120

0.05

USD

30,000 Home Depot Inc 2.125% 15/09/2026

27

0.01

USD

94,000 Home Depot Inc 2.625% 01/06/2022

93

0.04

USD

139,000 Home Depot Inc 2.7% 01/04/2023

136

0.06

USD

185,000 Home Depot Inc 2.8% 14/09/2027

174

0.07


[105]

iSHARES PLC


Ccy

Holding Investment

Fair value $'000


Ccy



Corporate Bonds (cont) USD USD USD USD

219,000 Home Depot Inc 3% 01/04/2026 30,000 Home Depot Inc 3.35% 15/09/2025 165,000 Home Depot Inc 3.5% 15/09/2056 163,000 Home Depot Inc 3.75% 15/02/2024 65,000 Home Depot Inc 3.9% 15/06/2047

USD

128,000 Home Depot Inc 4.2% 01/04/2043

USD

134,000 Home Depot Inc 4.25% 01/04/2046

USD USD

222,000 Home Depot Inc 4.4% 15/03/2045 27,000 Home Depot Inc 4.875% 15/02/2044

USD

208,000 Home Depot Inc 5.875% 16/12/2036

USD

65,000 Home Depot Inc 5.95% 01/04/2041

USD USD

73,000 Honeywell International Inc 1.85% 01/11/2021 130,000 Honeywell International Inc 2.5% 01/11/2026




Holding Investment

Fair value $'000

211 30 144 167 63 129 136 230 30 256 81 70

USD

60,000 International Business Machines Corp 2.5% 27/01/2022

59

0.03

USD


174

0.07

USD


10

0.00

USD


158

0.07

USD


182

0.08

USD

45,000 International Business Machines Corp 4% 20/06/2042

44

0.02

USD

56,000 International Lease Finance Corp 5.875% 15/08/2022

60

0.03

USD

67,000 International Paper Co 3% 15/02/2027

62

0.03

USD

47,000 International Paper Co 3.65% 15/06/2024

47

0.02

USD


119

0.05

USD


111

0.05

USD


28

0.01

USD

70,000 Jefferies Group LLC / Jefferies Group Capital Finance Inc 4.15% 23/01/2030

64

0.03

USD

79,000 JM Smucker Co 3.5% 15/03/2025

77

0.03

0.09 0.01 0.06 0.07 0.03 0.05 0.06 0.10 0.01 0.11 0.03 0.03

121

0.05

59,000 HP Inc 6% 15/09/2041

61

0.03

USD

60,000 HSBC USA Inc 3.5% 23/06/2024

59

0.03

USD

53,000 Humana Inc 4.95% 01/10/2044

56

0.02

USD

USD

38,000 Huntington Bancshares Inc 2.3% 14/01/2022

378

0.16

37

0.02

USD

99

0.04

36,000 Johnson & Johnson 2.25% 03/03/2022

35

0.02

USD

352,000 Johnson & Johnson 2.45% 01/03/2026

332

0.14

USD

141,000 Johnson & Johnson 2.9% 15/01/2028

135

0.06

USD

245,000 Johnson & Johnson 2.95% 03/03/2027

USD

USD

100,000 IBM Credit LLC 3% 06/02/2023

USD

72,000 Illinois Tool Works Inc 2.65% 15/11/2026

USD

85,000 Illinois Tool Works Inc 3.9% 01/09/2042

84

0.04

USD

120,000 Intel Corp 2.35% 11/05/2022

117

0.05

USD

64,000 Intel Corp 2.6% 19/05/2026

60

0.03

USD

154,000 Intel Corp 2.7% 15/12/2022

152

0.06

44

0.02

USD USD USD

45,000 Intel Corp 2.875% 11/05/2024 123,000 Intel Corp 3.1% 29/07/2022 60,000 Intel Corp 3.15% 11/05/2027

67

0.03

123

0.05

58

0.02

USD

169,000 Intel Corp 3.3% 01/10/2021

171

0.07

USD

217,000 Intel Corp 3.7% 29/07/2025

220

0.09

USD

284,000 Intel Corp 3.734% 08/12/2047

266

0.11

2

0.00

USD

2,000 Intel Corp 4% 15/12/2032

USD

79,000 Intel Corp 4.1% 19/05/2046

79

0.03

USD

180,000 Intel Corp 4.1% 11/05/2047

180

0.08

USD

131,000 Intercontinental Exchange Inc 3.75% 01/12/2025

132

0.06

9

0.00

95

0.04

USD USD

[106]

9,000 Intercontinental Exchange Inc 4% 15/10/2023 100,000 International Business Machines Corp 1.875% 01/08/2022


386,000 John Deere Capital Corp 2.8% 06/03/2023

238

0.10

USD

30,000 Johnson & Johnson 3.375% 05/12/2023

30

0.01

USD

81,000 Johnson & Johnson 3.4% 15/01/2038

76

0.03

USD

61,000 Johnson & Johnson 3.5% 15/01/2048

57

0.02

USD

101,000 Johnson & Johnson 3.55% 01/03/2036

98

0.04

USD

117,000 Johnson & Johnson 3.625% 03/03/2037

114

0.05

USD

228,000 Johnson & Johnson 3.7% 01/03/2046

221

0.09

USD

45,000 Johnson & Johnson 3.75% 03/03/2047

44

0.02

USD

39,000 Johnson & Johnson 4.375% 05/12/2033

42

0.02

133

0.06

USD

104,000 Johnson & Johnson 5.95% 15/08/2037

iSHARES PLC


Ccy

Holding Investment

Fair value $'000


Ccy




USD USD USD USD USD USD USD

USD

131,000 JPMorgan Chase & Co 4.85% 01/02/2044


138

0.06

139

0.06

USD



180

0.08

134

0.06

USD



88

0.04

145

0.06

USD



107

0.05

355

0.15

USD



133

0.06

179

0.08

USD



328

0.14

294

0.12

USD


100,000 Kaiser Foundation Hospitals 4.15% 01/05/2047

102

0.04

61

0.03

USD

40,000 Kellogg Co 3.25% 01/04/2026

38

0.02


USD 146

0.06

100,000 Keurig Dr Pepper Inc 4.057% 25/05/2023

101

0.04

USD


102

0.04

USD


137

0.06

USD


USD


USD


USD


USD


334

0.14

USD


168

0.07


199


USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD




Holding Investment

Fair value $'000

292 169

0.12 0.07

41

0.02

136

0.06

95,000 Kinder Morgan Energy Partners LP 3.95% 01/09/2022

96

0.04

USD


115

0.05

0.08

USD


68

0.03

154

0.07

USD


35,000 Kinder Morgan Inc 3.15% 15/01/2023

34

0.01

262

0.11

USD



208

0.09

231

0.10

USD



99

0.04

119

0.05

USD


30

0.01

327

0.14

USD



100

0.04

360

0.15

USD



132

0.06

224

0.10

USD



224

0.09

138

0.06

USD


252,000 Kraft Heinz Foods Co 3% 01/06/2026

230

0.10

149

0.06

USD


253,000 Kraft Heinz Foods Co 3.5% 06/06/2022

252

0.11

154

0.07

USD



50

0.02

251

0.11

USD



207

0.09

115

0.05

USD



301

0.13

160

0.07

USD


30

0.01

383

0.16

185

0.08 USD

135,000 KeyCorp 4.1% 30/04/2028




[107]

iSHARES PLC


Ccy

Holding Investment

Fair value $'000


Ccy




USD USD USD USD USD

USD

139

0.06

158

0.07

USD


45,000 Mastercard Inc 2.95% 21/11/2026

43

0.02

170

0.07

USD


75,000 Mastercard Inc 3.375% 01/04/2024

75

0.03

83

0.04

USD


40,000 McCormick & Co Inc 2.7% 15/08/2022

39

0.02

82

0.04

USD

60,000 Kroger Co 2.65% 15/10/2026

54

0.02

45,000 McCormick & Co Inc 3.4% 15/08/2027

43

0.02

USD

52,000 McDonald's Corp 2.625% 15/01/2022

81,000 Kroger Co 4.45% 01/02/2047

75

0.03

122,000 Laboratory Corp of America Holdings 3.6% 01/02/2025

USD


USD

40,000 Lockheed Martin Corp 2.9% 01/03/2025

USD


58

0.02

USD


220

0.09

USD


USD


USD


USD USD

118,000 Marathon Petroleum Corp 6.5% 01/03/2041


USD

USD




Holding Investment

Fair value $'000

133,000 Lockheed Martin Corp 4.7% 15/05/2046 41,000 Lowe's Cos Inc 2.5% 15/04/2026 117,000 Lowe's Cos Inc 3.1% 03/05/2027

119 32 38

56 110

0.05 0.01 0.02

0.02 0.05

72

0.03

142

0.06

38 112

0.02 0.05

51

0.02

USD

145,000 McDonald's Corp 3.5% 01/03/2027

141

0.06

USD

128,000 McDonald's Corp 3.7% 30/01/2026

128

0.05

USD

100,000 McDonald's Corp 4.45% 01/03/2047

100

0.04

USD

1,000 McDonald's Corp 4.7% 09/12/2035

1

0.00

USD

143,000 McDonald's Corp 4.875% 09/12/2045

150

0.06

USD

116,000 McDonald's Corp 6.3% 15/10/2037

141

0.06

USD

34,000 McDonald's Corp 6.3% 01/03/2038

41

0.02

USD

11,000 Mead Johnson Nutrition Co 4.125% 15/11/2025

11

0.00

USD

295,000 Medtronic Inc 3.15% 15/03/2022

294

0.12

USD

280,000 Medtronic Inc 3.5% 15/03/2025

280

0.12

USD

50,000 Medtronic Inc 3.625% 15/03/2024

51

0.02

USD

167,000 Medtronic Inc 4.375% 15/03/2035

174

0.07

USD

343,000 Medtronic Inc 4.625% 15/03/2045

364

0.15

2,000 Merck & Co Inc 2.35% 10/02/2022

USD

43,000 Lowe's Cos Inc 3.12% 15/04/2022

USD

132,000 Lowe's Cos Inc 3.375% 15/09/2025

130

0.06

USD

136,000 Lowe's Cos Inc 3.7% 15/04/2046

125

0.05

USD

USD

123,000 Lowe's Cos Inc 4.05% 03/05/2047

2

0.00

119

0.05

USD

249,000 Merck & Co Inc 2.4% 15/09/2022

242

0.10

USD

235,000 Merck & Co Inc 2.75% 10/02/2025

226

0.10

USD

164,000 Merck & Co Inc 2.8% 18/05/2023

161

0.07

USD

170,000 Merck & Co Inc 3.7% 10/02/2045

165

0.07

104,000 Merck & Co Inc 4.15% 18/05/2043

USD

34,000 Lowe's Cos Inc 4.375% 15/09/2045

USD

35,000 Lowe's Cos Inc 4.65% 15/04/2042


[108]

102,000 Macy's Retail Holdings Inc 2.875% 15/02/2023 150,000 Manufacturers & Traders Trust Co 2.9% 06/02/2025 111,000 Marathon Oil Corp 2.8% 01/11/2022 31,000 Marathon Oil Corp 3.85% 01/06/2025 140,000 Marathon Oil Corp 4.4% 15/07/2027

43

35 37

0.02

0.01 0.02

96

0.04

USD

108

0.05

144

0.06

USD

53,000 MetLife Inc 3.6% 10/04/2024

53

0.02

USD

54,000 MetLife Inc 4.05% 01/03/2045

51

0.02

USD

109,000 MetLife Inc 4.125% 13/08/2042

105

0.04

USD

120,000 MetLife Inc 4.368% 15/09/2023

125

0.05

USD

118,000 MetLife Inc 4.6% 13/05/2046

122

0.05

USD

167,000 MetLife Inc 4.875% 13/11/2043

177

0.08

USD

136,000 MetLife Inc 5.7% 15/06/2035

157

0.07

107 30 141

0.05 0.01 0.06

52,000 Marathon Oil Corp 6.6% 01/10/2037

62

0.03


45

0.02



41

0.02

USD

60,000 Microsoft Corp 2% 08/08/2023

57

0.02

USD

77,000 Microsoft Corp 2.125% 15/11/2022

74

0.03

USD

114,000 Microsoft Corp 2.375% 12/02/2022

112

0.05

iSHARES PLC


Ccy

Holding Investment

Fair value $'000


Ccy



Corporate Bonds (cont) 137,000 Microsoft Corp 2.375% 01/05/2023




Holding Investment

Fair value $'000

133

0.06

62

0.03

USD

63,000 Microsoft Corp 2.4% 06/02/2022

USD

363,000 Microsoft Corp 2.4% 08/08/2026

338

0.14

USD

167,000 Microsoft Corp 2.65% 03/11/2022

165

0.07

USD

341,000 Microsoft Corp 2.7% 12/02/2025

329

0.14

USD

237,000 Microsoft Corp 2.875% 06/02/2024

233

0.10

USD

305,000 Morgan Stanley 3.875% 29/04/2024

306

0.13

USD

374,000 Morgan Stanley 3.875% 27/01/2026

369

0.16

USD

174,000 Morgan Stanley 3.95% 23/04/2027

168

0.07

USD

240,000 Morgan Stanley 3.971% 22/07/2038

225

0.10

USD

283,000 Morgan Stanley 4% 23/07/2025

284

0.12

USD

155,000 Morgan Stanley 4.1% 22/05/2023

156

0.07

USD

314,000 Morgan Stanley 4.3% 27/01/2045

303

0.13

USD

110,000 Morgan Stanley 4.35% 08/09/2026

109

0.05

USD

134,000 Morgan Stanley 4.375% 22/01/2047

USD

365,000 Microsoft Corp 3.125% 03/11/2025

USD

367,000 Microsoft Corp 3.3% 06/02/2027

363

0.15

USD

110,000 Microsoft Corp 3.45% 08/08/2036

106

0.04

USD

187,000 Microsoft Corp 3.5% 12/02/2035

181

0.08

130

0.06

USD

128,000 Microsoft Corp 3.5% 15/11/2042

120

0.05

USD

USD

108,000 Microsoft Corp 3.625% 15/12/2023

200,000 Morgan Stanley 4.457% 22/04/2039

199

0.08

110

0.05

USD

USD

445,000 Microsoft Corp 3.7% 08/08/2046

430

0.18

154,000 Morgan Stanley 4.875% 01/11/2022

160

0.07

USD

207,000 Microsoft Corp 3.75% 12/02/2045

202

0.09

USD

180,000 Morgan Stanley 5% 24/11/2025

187

0.08

USD

136,000 Microsoft Corp 3.95% 08/08/2056

135

0.06

USD

236,000 Morgan Stanley 6.375% 24/07/2042

295

0.13

USD

174,000 Microsoft Corp 4% 12/02/2055

174

0.07

USD

63

0.03

USD

165,000 Microsoft Corp 4.1% 06/02/2037

171

0.07

USD

125,000 MPLX LP 4% 15/03/2028

121

0.05

USD

37,000 Microsoft Corp 4.2% 03/11/2035

39

0.02

USD

130,000 MPLX LP 4.125% 01/03/2027

127

0.05

USD

87,000 Microsoft Corp 4.25% 06/02/2047

92

0.04

USD

110,000 MPLX LP 4.5% 15/07/2023

113

0.05

USD

243,000 Microsoft Corp 4.45% 03/11/2045

263

0.11

USD

100,000 MPLX LP 4.5% 15/04/2038

93

0.04

USD

152,000 Microsoft Corp 4.5% 01/10/2040

165

0.07

USD

150,000 MPLX LP 4.7% 15/04/2048

USD

195,000 Microsoft Corp 4.5% 06/02/2057

213

0.09

USD

USD

182,000 Microsoft Corp 4.75% 03/11/2055

206

0.09

USD

25,000 Microsoft Corp 5.2% 01/06/2039

30

0.01

USD

149,000 Microsoft Corp 5.3% 08/02/2041

178

USD

101,000 Molson Coors Brewing Co 3% 15/07/2026

359

0.15

62,000 Mosaic Co 4.25% 15/11/2023

140

0.06

82,000 MPLX LP 4.875% 01/12/2024

85

0.04

USD

43,000 MPLX LP 4.875% 01/06/2025

45

0.02

USD

51,000 MPLX LP 5.2% 01/03/2047

51

0.02

0.08

USD

93,000 National Oilwell Varco Inc 2.6% 01/12/2022

89

0.04

92

0.04

USD

229,000 Molson Coors Brewing Co 4.2% 15/07/2046


75

0.03

205

0.09

USD

91,000 Molson Coors Brewing Co 5% 01/05/2042

181

0.08

91

0.04

USD

260,000 Morgan Stanley 2.625% 17/11/2021

69,000 NBCUniversal Media LLC 4.45% 15/01/2043

67

0.03

254

0.11

USD

317,000 Morgan Stanley 2.75% 19/05/2022

76,000 Newell Brands Inc 3.85% 01/04/2023

75

0.03

309

0.13

USD

355,000 Morgan Stanley 3.125% 23/01/2023


86

0.04

348

0.15

USD

187,000 Morgan Stanley 3.125% 27/07/2026


149

0.06

175

0.07

USD

300,000 Morgan Stanley 3.591% 22/07/2028

70,000 Newmont Mining Corp 3.5% 15/03/2022

70

0.03

286

0.12

USD

240,000 Morgan Stanley 3.625% 20/01/2027


181

0.08

231

0.10

USD

USD

241,000 Morgan Stanley 3.7% 23/10/2024

239

0.10


3

0.00

USD

212,000 Morgan Stanley 3.75% 25/02/2023

USD

120,000 NextEra Energy Capital Holdings Inc 3.55% 01/05/2027

USD

315,000 Morgan Stanley 3.772% 24/01/2029


213 304

117

0.05

USD

90,000 Nike Inc 2.375% 01/11/2026

83

0.04

USD

63,000 Nike Inc 3.875% 01/11/2045

61

0.03

0.09 0.13



[109]

iSHARES PLC


Ccy

Holding Investment

Fair value $'000


Ccy




60,000 NiSource Inc 3.49% 15/05/2027 105,000 NiSource Inc 3.95% 30/03/2048

58 97

0.04

82

0.03

USD

32,000 NiSource Inc 4.8% 15/02/2044

33

0.01

USD

79,000 Noble Energy Inc 4.15% 15/12/2021

USD

127,000 Noble Energy Inc 5.05% 15/11/2044

USD

57,000 Noble Energy Inc 5.25% 15/11/2043

57

0.02

USD

32,000 Noble Energy Inc 6% 01/03/2041

35

USD

22,000 Northern Trust Corp 3.95% 30/10/2025

USD USD

120,000 Northrop Grumman Corp 2.55% 15/10/2022 190,000 Northrop Grumman Corp 2.93% 15/01/2025

USD

185,000 Northrop Grumman Corp 3.2% 01/02/2027

USD


USD


USD


USD


USD USD USD USD USD

147

0.06

90,000 Omnicom Group Inc / Omnicom Capital Inc 3.625% 01/05/2022

90

0.04

USD


33

0.01

0.01

USD

74,000 Oncor Electric Delivery Co LLC 7% 01/09/2022

84

0.04

22

0.01

USD

127,000 Oneok Partners LP 3.375% 01/10/2022

125

0.05

116

0.05

USD

294,000 Oracle Corp 1.9% 15/09/2021

285

0.12

USD

218,000 Oracle Corp 2.4% 15/09/2023

209

0.09

USD

230,000 Oracle Corp 2.5% 15/05/2022

225

0.10

USD

128,000 Oracle Corp 2.5% 15/10/2022

124

0.05

USD

245,000 Oracle Corp 2.625% 15/02/2023

240

0.10

USD

296,000 Oracle Corp 2.65% 15/07/2026

276

0.12

USD

180,000 Oracle Corp 2.95% 15/11/2024

175

0.07

USD

202,000 Oracle Corp 2.95% 15/05/2025

195

0.08

USD

225,000 Oracle Corp 3.25% 15/11/2027

218

0.09

USD

108,000 Oracle Corp 3.4% 08/07/2024

108

0.05

USD

141,000 Oracle Corp 3.625% 15/07/2023

143

0.06

USD

130,000 Oracle Corp 3.8% 15/11/2037

125

0.05

31

0.01

125

181 175 153 243 232 42

0.03 0.05

0.08 0.07 0.07 0.10 0.10 0.02

0.06

51

0.02

100,000 Novartis Capital Corp 3.1% 17/05/2027

97

0.04


189

0.08

74

0.03

216

0.09

371,000 Oracle Corp 4% 15/07/2046

357

0.15

USD

200,000 Oracle Corp 4% 15/11/2047

193

0.08

USD

125,000 Oracle Corp 4.125% 15/05/2045

123

0.05

USD

77,000 Oracle Corp 4.3% 08/07/2034

79

0.03

USD

102,000 Oracle Corp 4.375% 15/05/2055

103

0.04

USD

37,000 Oracle Corp 4.5% 08/07/2044

38

0.02

USD

404,000 Oracle Corp 5.375% 15/07/2040

468

0.20

USD

155,000 Oracle Corp 6.125% 08/07/2039

194

0.08

52

0.02

USD

150,000 Pacific Gas & Electric Co 3.95% 01/12/2047

132

0.06

USD


36

0.02

USD


118

0.05

USD


479

0.20

USD

150,000 PepsiCo Inc 1.7% 06/10/2021

144

0.06

58

0.02

55

0.02

43

0.02

61

0.03

USD

44,000 Occidental Petroleum Corp 2.7% 15/02/2023

USD

30,000 Occidental Petroleum Corp 3% 15/02/2027

USD


USD


63

0.03


141

0.06


220,000 Oracle Corp 3.9% 15/05/2035

USD

40,000 Oracle Corp 6.5% 15/04/2038

63,000 NVIDIA Corp 3.2% 16/09/2026

[110]

USD

USD

44,000 NVIDIA Corp 2.2% 16/09/2021


32,000 Oracle Corp 3.85% 15/07/2036

0.07

USD

USD

USD

177

USD

USD

0.08


USD

80

142


182

USD

0.01


USD

0.04


30

0.04

74,000 Novartis Capital Corp 4% 20/11/2045

100

USD


88

USD


USD



USD 0.02

83,000 NiSource Inc 4.375% 15/05/2047

USD




Holding Investment

Fair value $'000

43 29 64

69

0.02 0.01 0.03

0.03

USD USD

60,000 PepsiCo Inc 2.25% 02/05/2022 60,000 PepsiCo Inc 2.375% 06/10/2026

USD

122,000 PepsiCo Inc 2.75% 05/03/2022

121

0.05

USD

41,000 PepsiCo Inc 2.75% 01/03/2023

40

0.02

USD

28,000 PepsiCo Inc 2.75% 30/04/2025

27

0.01

iSHARES PLC


Ccy

Holding Investment

Fair value $'000


Ccy




56,000 PepsiCo Inc 2.85% 24/02/2026 165,000 PepsiCo Inc 3% 15/10/2027

54

0.02

158

0.07

USD

55,000 PepsiCo Inc 3.1% 17/07/2022

55

0.02

USD

240,000 PepsiCo Inc 3.45% 06/10/2046

218

0.09

USD

107,000 PepsiCo Inc 3.6% 01/03/2024

109

0.05

USD

77,000 PepsiCo Inc 4% 05/03/2042

77

0.03

USD

120,000 PepsiCo Inc 4% 02/05/2047

119

0.05

USD

280,000 PepsiCo Inc 4.45% 14/04/2046

296

0.13

USD

2,000 PepsiCo Inc 4.875% 01/11/2040

2

0.00

USD

45,000 Pfizer Inc 2.2% 15/12/2021

44

0.02

USD

106,000 Pfizer Inc 2.75% 03/06/2026

101

0.04

USD

169,000 Pfizer Inc 3% 15/06/2023

168

0.07

USD

205,000 Pfizer Inc 3% 15/12/2026

199

0.08

USD

56,000 Pfizer Inc 3.4% 15/05/2024

57

0.02

USD

25,000 Pfizer Inc 4% 15/12/2036

25

0.01

USD

171,000 Pfizer Inc 4.125% 15/12/2046

173

0.07

USD

73,000 Pfizer Inc 4.3% 15/06/2043

75

0.03

USD

341,000 Pfizer Inc 7.2% 15/03/2039

474

0.20

USD

40,000 Philip Morris International Inc 2.375% 17/08/2022

USD


USD


USD


USD


39 45 117 72 152


USD


132

0.06


31

0.01


32

0.01

USD


45

0.02

USD

52,000 Plains All American Pipeline LP / PAA Finance Corp 4.65% 15/10/2025

53

0.02

USD

150,000 PNC Bank NA** 2.625% 17/02/2022

147

0.06

USD

270,000 PNC Bank NA** 3.1% 25/10/2027

257

0.11

USD

150,000 PNC Bank NA** 3.25% 01/06/2025

147

0.06

USD

119,000 PNC Financial Services Group Inc** 3.15% 19/05/2027

114

0.05

USD


78

0.03

USD


78

0.03

USD

94,000 Precision Castparts Corp 2.5% 15/01/2023

91

0.04

USD


30

0.01

USD

163,000 Procter & Gamble Co 2.15% 11/08/2022

158

0.07

USD


81

0.03

USD


65

0.03

USD


57

0.02

USD


0.06

USD

USD

0.06


0.03


22

139

USD

0.05

USD

120


0.02


25

USD

0.02

USD

USD




Holding Investment

Fair value $'000

83

0.04

USD

252,000 Prudential Financial Inc 3.905% 07/12/2047

232

0.10

USD


138

0.06

USD

135,000 Qualcomm Inc 2.6% 30/01/2023

130

0.06

USD

45,000 Qualcomm Inc 2.9% 20/05/2024

43

0.02

0.01 0.05 0.01

USD

212,000 Qualcomm Inc 3% 20/05/2022

209

0.09

USD

135,000 Qualcomm Inc 3.25% 20/05/2027

127

0.05

USD

185,000 Qualcomm Inc 3.45% 20/05/2025

180

0.08

USD

155,000 Qualcomm Inc 4.3% 20/05/2047^

145

0.06

79,000 Qualcomm Inc 4.65% 20/05/2035

79

0.03

162

0.07

USD

USD

100,000 Phillips 66 3.9% 15/03/2028

99

0.04

USD

141,000 Qualcomm Inc 4.8% 20/05/2045

142

0.06

USD

189,000 Phillips 66 4.3% 01/04/2022

195

0.08

USD

32,000 Raytheon Co 2.5% 15/12/2022

31

0.01

USD

98,000 Republic Services Inc 3.55% 01/06/2022

99

0.04

USD

50,000 Republic Services Inc 3.95% 15/05/2028

USD

31,000 Phillips 66 4.65% 15/11/2034

31

0.01

USD

137,000 Phillips 66 4.875% 15/11/2044

141

0.06

USD

178,000 Phillips 66 5.875% 01/05/2042

206

0.09

USD


19

50

0.02

USD

102,000 Reynolds American Inc 4% 12/06/2022

103

0.04

USD

214,000 Reynolds American Inc 4.45% 12/06/2025

217

0.09

0.01


[111]

iSHARES PLC


Ccy

Holding Investment

Fair value $'000


Ccy




USD USD USD USD

0.07

USD

60,000 Rockwell Collins Inc 2.8% 15/03/2022

62,000 Southern California Edison Co 4.65% 01/10/2043

65

0.03

59

0.02

USD

117,000 Southern Co 2.95% 01/07/2023

113

0.05


USD

254,000 Southern Co 3.25% 01/07/2026

238

0.10

58

0.02

USD

78,000 Southern Co 4.4% 01/07/2046

75

0.03


182

0.08

USD

77,000 Spectra Energy Partners LP 4.75% 15/03/2024

80

0.03

USD

80,000 Starbucks Corp 3.1% 01/03/2023

79

0.03

USD

24,000 Starbucks Corp 3.85% 01/10/2023

0.02 0.03

145,000 Sabine Pass Liquefaction LLC 4.2% 15/03/2028 135,000 Sabine Pass Liquefaction LLC 5% 15/03/2027

USD

150,000 Sabine Pass Liquefaction LLC 5.625% 15/04/2023

USD

185,000 Sabine Pass Liquefaction LLC 5.625% 01/03/2025 150,000 Sabine Pass Liquefaction LLC 5.75% 15/05/2024 135,000 Sabine Pass Liquefaction LLC 5.875% 30/06/2026 105,000 salesforce.com Inc 3.25% 11/04/2023

141 139 160 197 161 146 105

139

0.06

USD

38,000 State Street Corp 3.7% 20/11/2023

39

0.02

2

0.00

USD

2,000 Stryker Corp 3.375% 01/11/2025 119,000 Stryker Corp 3.5% 15/03/2026

116

0.05

USD

90,000 Sunoco Logistics Partners Operations LP 4% 01/10/2027

86

0.04

194

0.08

USD

129,000 Santander Holdings USA Inc 3.7% 28/03/2022

47,000 Sunoco Logistics Partners Operations LP 5.35% 15/05/2045

45

0.02

128

0.05

USD


133

0.06

89

0.04

USD


72,000 SunTrust Bank GA 2.45% 01/08/2022

69

0.03

94

0.04

USD

60,000 Sempra Energy 3.25% 15/06/2027

70,000 SunTrust Banks Inc 2.7% 27/01/2022

68

0.03

56

0.02

USD

33,000 Synchrony Financial 4.25% 15/08/2024

32

0.01

47

0.02 0.05

USD

50,000 Sempra Energy 4% 01/02/2048

45

0.02

USD

32,000 Sempra Energy 6% 15/10/2039

37

0.02

[112]

0.04


0.05

120

USD

91

USD

0.06

50,000 Sempra Energy 3.4% 01/02/2028

USD

0.03


0.07

130,000 Sempra Energy 3.8% 01/02/2038

USD

68

USD 0.08

USD

USD

0.03


0.07

USD

USD

71

USD

0.02

110

USD

0.04


55


USD

0.01

54,000 Stryker Corp 4.625% 15/03/2046

USD

USD

24 100

USD 0.06

0.04

100,000 Starbucks Corp 4% 15/11/2028

USD

110,000 salesforce.com Inc 3.7% 11/04/2028

USD

0.06

USD

USD

USD

USD

0.04

162

75

USD

91


95,000 Southern California Edison Co 4% 01/04/2047

58

USD

0.02

USD

72,000 S&P Global Inc 4.4% 15/02/2026

USD

48

0.05

USD

USD

50,000 Simon Property Group LP 3.375% 01/12/2027

109


USD

USD


USD

USD




Holding Investment

Fair value $'000

235,000 Sherwin-Williams Co 2.75% 01/06/2022

228

0.10


24

0.01


78

0.03

120,000 Simon Property Group LP 3.25% 30/11/2026 210,000 Simon Property Group LP 3.3% 15/01/2026

116

0.05

USD

135,000 Sunoco Logistics Partners Operations LP 5.4% 01/10/2047

191,000 Synchrony Financial 4.5% 23/07/2025

186

0.08

USD

84,000 Sysco Corp 3.25% 15/07/2027

80

0.03

USD

28,000 Sysco Corp 3.3% 15/07/2026

27

0.01

USD

114,000 Sysco Corp 3.75% 01/10/2025

113

0.05

USD

131,000 Target Corp 2.5% 15/04/2026

122

0.05

USD

2,000 Target Corp 2.9% 15/01/2022

2

0.00

USD

52,000 Target Corp 3.5% 01/07/2024

53

0.02

USD

39,000 Target Corp 3.625% 15/04/2046

36

0.02

95

0.04

USD

100,000 Target Corp 3.9% 15/11/2047

USD

121,000 Target Corp 4% 01/07/2042

118

0.05

204

0.09

USD


60,000 TD Ameritrade Holding Corp 3.3% 01/04/2027

58

0.02

10

0.00

USD


100,000 Texas Instruments Inc 4.15% 15/05/2048

102

0.04

160

0.07


iSHARES PLC


Ccy

Holding Investment

Fair value $'000


Ccy




USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD

57,000 Thermo Fisher Scientific Inc 2.95% 19/09/2026

67

0.03

117

0.05

USD


125,000 Union Pacific Corp 3.95% 10/09/2028

126

0.05

108

0.05

USD



123

0.05

170

0.07

USD



76

0.03

45

0.02

USD


128

0.05

38

0.02

USD


60,000 United Parcel Service Inc 2.45% 01/10/2022

58

0.02

92

0.04

USD

80,000 Time Warner Cable LLC 4% 01/09/2021


154

0.07

80

0.03

USD

181,000 Time Warner Cable LLC 4.5% 15/09/2042


107

0.05

153

0.06

USD



134

0.06

56

0.02

USD


81

0.03

156

0.07

USD


135,000 United Technologies Corp 2.8% 04/05/2024

129

0.05

107

0.05

USD



199

0.08

117

0.05

USD



127

0.05

218

0.09

USD

74,000 Time Warner Entertainment Co LP 8.375% 15/03/2023


133

0.06

86

0.04

USD

205,000 TJX Cos Inc 2.25% 15/09/2026

187

0.08


125

0.05

USD


304

0.13

USD


2

0.00

USD


50,000 Total System Services Inc 4.8% 01/04/2026

90,000 Toyota Motor Credit Corp 3.3% 12/01/2022

USD


USD

134,000 Transcontinental Gas Pipe Line Co LLC 7.85% 01/02/2026 27,000 Travelers Cos Inc 5.35% 01/11/2040 65,000 Travelers Cos Inc 6.25% 15/06/2037

USD

305,000 Tyson Foods Inc 3.55% 02/06/2027

USD

110,000 Tyson Foods Inc 3.95% 15/08/2024

USD USD

0.08

120,000 Thermo Fisher Scientific Inc 3% 15/04/2023


USD

200


USD

USD

USD

200,000 Unilever Capital Corp 3.5% 22/03/2028

0.02


USD

USD 53

USD

USD




Holding Investment

Fair value $'000

30,000 Tyson Foods Inc 4.5% 15/06/2022 70,000 Tyson Foods Inc 4.55% 02/06/2047 150,000 Unilever Capital Corp 2.9% 05/05/2027

52 106 73 90 161 165 31 82 289 110 31 66 143

0.02 0.04


5

0.00

USD

42,000 UnitedHealth Group Inc 2.375% 15/10/2022

41

0.02

USD


54

0.02

USD


28

0.01

USD


56

0.02

USD


91

0.04

USD


331

0.14

USD


162

0.07

USD


75

0.03

USD


336

0.14

USD


121

0.05

0.03 0.04 0.07 0.07 0.01 0.03 0.12 0.05 0.01 0.03 0.06



[113]

iSHARES PLC


Ccy

Holding Investment

Fair value $'000


Ccy


Holding Investment

Fair value $'000






USD

118,000 Verizon Communications Inc 4.75% 01/11/2041


115

0.05

101

0.04

USD



128

0.05

119

0.05

USD



267

0.11

83

0.04

USD



458

0.19

100

0.04

USD


346,000 Verizon Communications Inc 5.012% *

348

0.15

114

0.05

USD



227

0.10

145

0.06

USD



97

0.04

30

0.01

USD



30

0.01

103

0.04

USD

133,000 Viacom Inc 4.25% 01/09/2023

134

0.06

USD

59,000 US Bancorp 2.375% 22/07/2026

54

0.02

USD

120,000 Viacom Inc 4.375% 15/03/2043

104

0.04

USD

75,000 US Bancorp 2.625% 24/01/2022

74

0.03

USD

110,000 Viacom Inc 5.85% 01/09/2043

115

0.05

29

0.01


USD

136,000 US Bancorp 2.95% 15/07/2022

134

0.06

USD

USD

159,000 US Bancorp 3% 15/03/2022

158

0.07

USD

4

0.00

282,000 Virginia Electric & Power Co 3.15% 15/01/2026

273

0.12

USD

90,000 Visa Inc 2.15% 15/09/2022

87

0.04

USD

60,000 Visa Inc 2.75% 15/09/2027

57

0.02

USD

92,000 Visa Inc 2.8% 14/12/2022

91

0.04

USD

417,000 Visa Inc 3.15% 14/12/2025

409

0.17

USD

60,000 Visa Inc 3.65% 15/09/2047

57

0.02

USD

4,000 US Bancorp 3.1% 27/04/2026

USD

162,000 US Bancorp 3.15% 27/04/2027

156

0.07

USD

78,000 US Bancorp 3.6% 11/09/2024

77

0.03

USD

40,000 US Bancorp 3.7% 30/01/2024

USD

150,000 US Bank NA 2.8% 27/01/2025

143

0.06

USD

200,000 US Bank NA 2.85% 23/01/2023

196

0.08

USD

180,000 Valero Energy Corp 3.4% 15/09/2026

172

0.07

USD


40

0.02

USD

86

0.04

26,000 Viacom Inc 6.875% 30/04/2036

85,000 Visa Inc 4.15% 14/12/2035

89

0.04

USD

303,000 Visa Inc 4.3% 14/12/2045

319

0.14

USD

103,000 VMware Inc 2.95% 21/08/2022

100

0.04

USD

133,000 VMware Inc 3.9% 21/08/2027

126

0.05

61,000 Wachovia Corp 5.5% 01/08/2035

67

0.03

63,000 Walgreen Co 3.1% 15/09/2022

USD


179

0.08

USD


62

0.03

148

0.06

USD


152,000 Walgreens Boots Alliance Inc 3.3% 18/11/2021

151

0.06

515

0.22

USD



187

0.08

70

0.03

USD



173

0.07

157

0.07

USD



181

0.08

353

0.15

USD

175,000 Walmart Inc 2.35% 15/12/2022

170

0.07

USD

228,000 Walmart Inc 2.55% 11/04/2023

222

0.09

USD

110,000 Walmart Inc 2.65% 15/12/2024

106

0.04

USD

121,000 Walmart Inc 3.3% 22/04/2024

121

0.05

USD

250,000 Walmart Inc 3.4% 26/06/2023

253

0.11

USD

125,000 Walmart Inc 3.55% 26/06/2025

126

0.05

USD

205,000 Walmart Inc 3.625% 15/12/2047

194

0.08

USD

250,000 Walmart Inc 3.7% 26/06/2028

253

0.11

USD

125,000 Walmart Inc 3.95% 28/06/2038

126

0.05

USD

250,000 Walmart Inc 4.05% 29/06/2048

253

0.11

USD

72,000 Walmart Inc 4.3% 22/04/2044

75

0.03

USD

195,000 Walmart Inc 5.25% 01/09/2035

227

0.10

31

0.01

USD USD USD USD USD USD USD USD USD USD USD

[114]

240,000 Verizon Communications Inc 4.125% 15/08/2046 169,000 Verizon Communications Inc 4.272% 15/01/2036 871,000 Verizon Communications Inc 4.329% 21/09/2028 290,000 Verizon Communications Inc 4.4% 01/11/2034 210,000 Verizon Communications Inc 4.5% 10/08/2033

USD

215 159 876 280 207

0.09 0.07 0.37 0.12 0.09


410

0.17


441

0.19


USD

USD

25,000 Walmart Inc 5.625% 01/04/2040

iSHARES PLC


Ccy

Holding Investment

Fair value $'000


Ccy



Corporate Bonds (cont) 100,000 Walmart Inc 5.625% 15/04/2041

USD

32,000 Walt Disney Co 1.85% 30/07/2026

USD

88,000 Walt Disney Co 2.35% 01/12/2022

USD USD

200,000 Walt Disney Co 2.95% 15/06/2027^ 170,000 Walt Disney Co 3% 13/02/2026

USD

2,000 Walt Disney Co 3.15% 17/09/2025

USD

51,000 Walt Disney Co 4.125% 01/06/2044

USD

31,000 Warner Media LLC 2.95% 15/07/2026

USD

113,000 Warner Media LLC 3.55% 01/06/2024

USD

158,000 Warner Media LLC 3.6% 15/07/2025

USD

244,000 Warner Media LLC 3.8% 15/02/2027

USD USD USD USD USD

15,000 Warner Media LLC 4.85% 15/07/2045




Holding Investment

Fair value $'000

124 28 85 191 164 2 51 28 110 152 234 14

USD

199,000 Wells Fargo & Co 4.65% 04/11/2044

195

0.08

USD

175,000 Wells Fargo & Co 4.75% 07/12/2046

174

0.07

USD

183,000 Wells Fargo & Co 4.9% 17/11/2045

185

0.08

USD

192,000 Wells Fargo & Co 5.375% 02/11/2043

206

0.09

USD

265,000 Wells Fargo & Co 5.606% 15/01/2044

294

0.12

USD

150,000 Wells Fargo Bank NA 6.6% 15/01/2038

189

0.08

USD

102,000 Welltower Inc 4% 01/06/2025

101

0.04

0.05 0.01 0.04 0.08 0.07 0.00 0.02

USD

88,000 Weyerhaeuser Co 7.375% 15/03/2032

112

0.05

USD

27,000 Williams Cos Inc 3.35% 15/08/2022

27

0.01

USD

94,000 Williams Cos Inc 3.6% 15/03/2022

94

0.04

USD

100,000 Williams Cos Inc 3.75% 15/06/2027

96

0.04

USD

53,000 Williams Cos Inc 3.9% 15/01/2025

52

0.02

USD

64,000 Williams Cos Inc 4% 15/09/2025

63

0.03

0.01 0.05 0.06 0.10 0.01

80,000 Waste Management Inc 3.15% 15/11/2027

76

0.03

USD


77,000 Williams Cos Inc 4.3% 04/03/2024

78

0.03

75

0.03

USD

216,000 Wells Fargo & Co 2.625% 22/07/2022

100,000 Williams Cos Inc 4.85% 01/03/2048

98

0.04

209

0.09

USD

221,000 Wells Fargo & Co 3% 19/02/2025

211

0.09

41,000 Williams Cos Inc 5.1% 15/09/2045

41

0.02

USD

98,000 Williams Cos Inc 6.3% 15/04/2040

112

0.05

USD

280,000 Wells Fargo & Co 3% 22/04/2026

263

0.11

USD

258,000 Wells Fargo & Co 3% 23/10/2026

241

0.10

USD

390,000 Wells Fargo & Co 3.069% 24/01/2023

381

0.16

USD

190,000 Wells Fargo & Co 3.3% 09/09/2024

185

0.08

USD

168,000 Wells Fargo & Co 3.45% 13/02/2023

82,000 Zimmer Biomet Holdings Inc 3.15% 01/04/2022

166

0.07

USD

212,000 Wells Fargo & Co 3.5% 08/03/2022


117

0.05

212

0.09

USD

28

0.01

405,000 Wells Fargo & Co 3.55% 29/09/2025

397

0.16

365,000 Wells Fargo & Co 3.584% 22/05/2028

352

0.15

USD USD USD USD

USD

163,000 Wyeth LLC 5.95% 01/04/2037

198

0.08

USD

30,000 Wyeth LLC 6.5% 01/02/2034

38

0.02

94

0.04

81

0.03

USD

USD

189,000 Wells Fargo & Co 3.9% 01/05/2045

176

0.07

USD

186,000 Wells Fargo & Co 4.1% 03/06/2026

184

0.08

USD

120,000 Wells Fargo & Co 4.125% 15/08/2023

122

0.05

USD

355,000 Wells Fargo & Co 4.3% 22/07/2027

355

0.15

USD

160,000 Wells Fargo & Co 4.4% 14/06/2046

151

0.06

100,000 Xerox Corp 3.625% 15/03/2023

30,000 Zoetis Inc 3% 12/09/2027

USD

102,000 Zoetis Inc 3.25% 01/02/2023

101

0.04

USD

11,000 Zoetis Inc 4.5% 13/11/2025

11

0.01

USD

57,000 Zoetis Inc 4.7% 01/02/2043

59

0.03

Total United States

188,889

79.94

Total bonds

226,732

95.96


[115]

iSHARES PLC


Ccy

Underlying exposure $'000

No. of contracts

Fair value $'000


Underlying exposure has been calculated according to the guidelines issued by the European Securities and Market Authority (“ESMA”) and represents the market value of an equivalent position in the assets underlying each financial derivative instrument.

Financial derivative instruments (28 February 2018: (0.42)%) Futures contracts (28 February 2018: (0.42)%) USD

57 2 Year Treasury Note December 2018

12,048

-

0.00

Analysis of total current assets gross of all liabilities

USD


60,265

50

0.02

Transferable securities admitted to an official stock exchange listing

0.06

Transferable securities dealt in on another regulated market

USD


USD

392 Long U.S Treasury Bond December 2018

USD

Ccy

228 Ultra Long U.S. Treasury Bond December 2018

92,376

132

Exchange traded financial derivative instruments 56,726

36,509

192

0.08

186

0.08

Total unrealised gains on futures contracts

560

0.24

Total financial derivative instruments

560

0.24

Fair value $'000


227,292

96.20

Holding Total value of investments

Cash equivalents (28 February 2018: 1.49%) UCITS collective investment schemes - Money Market Funds (28 February 2018: 1.49%) USD

1,656,113 Institutional Cash Series Plc Institutional US Dollar Liquidity Fund**

1,656

0.70

Cash†

2,498

1.06

Other net assets

4,834

2.04

236,280

100.00

Net asset value attributable to redeemable participating shareholders at the end of the financial period † Cash

holdings of $751,957 are held with State Street Bank and Trust Company. $1,746,015 is held as security for futures contracts with Barclays Bank Plc. ^ These securities are partially or fully transferred as securities lent. * Perpetual bond. ** Investment in related party.

Fixed income securities are primarily classified by country of incorporation of the issuer for corporate fixed income securities.

[116]


UCITS collective investment schemes Money Market Funds Other assets Total current assets

Fair value $'000

% of total current assets

167,765

64.37

58,967

22.62

560

0.21

1,656

0.64

31,681

12.16

260,629

100.00

iSHARES PLC

Schedule of Investments (unaudited) (continued) iSHARES $ CORP BOND UCITS ETF As at 31 August 2018

Ccy

Holding Investment

Fair value $'000


Ccy



1,000,000 Bank of Montreal 2.35% 11/09/2022

962

0.02

USD

2,368,000 Bank of Montreal 2.55% 06/11/2022

2,292

0.05


3,950,000 Australia & New Zealand Banking Group Ltd 2.3% 01/06/2021 3,530,000 Australia & New Zealand Banking Group Ltd 2.55% 23/11/2021

USD

250,000 Australia & New Zealand Banking Group Ltd 3.7% 16/11/2025

USD

420,000 Barrick PD Australia Finance Pty Ltd 5.95% 15/10/2039

USD


USD

3,483,000 BHP Billiton Finance USA Ltd 5% 30/09/2043

USD

1,900,000 National Australia Bank Ltd 2.5% 22/05/2022

USD


USD


USD USD

3,806,000 Rio Tinto Finance USA Ltd 3.75% 15/06/2025 160,000 Rio Tinto Finance USA Ltd 5.2% 02/11/2040

USD

3,470,000 Rio Tinto Finance USA Ltd 7.125% 15/07/2028

USD

1,384,000 Westpac Banking Corp 2% 19/08/2021


1,756,000 Westpac Banking Corp 2.5% 28/06/2022 2,136,000 Westpac Banking Corp 2.7% 19/08/2026

USD 3,843 3,439 250 465 678 3,896 1,835 5,282

3,840 180 4,373 1,331 1,696

0.04

1,905,000 Brookfield Finance Inc 4.7% 20/09/2047

1,846

0.04

USD

1,335,000 Canadian Imperial Bank of Commerce 2.55% 16/06/2022

1,296

0.03

USD

3,500,000 Canadian Natural Resources Ltd 3.85% 01/06/2027

3,409

0.07

USD


2,463

0.05

USD


1,712

0.03

0.04 0.10

671

0.01

1,802,000 Cenovus Energy Inc 4.45% 15/09/2042

1,563

0.03

USD


0.08

247

0.01

USD


1,601

0.03

USD


3,183

0.06

USD

1,137,000 Enbridge Inc 4% 01/10/2023

1,151

0.02

USD

1,994,000 Enbridge Inc 4.25% 01/12/2026

2,007

0.04

USD

1,255,000 Enbridge Inc 5.5% 01/12/2046

1,411

0.03

0.00 0.09 0.03

0.01


135

0.00

2,264

0.04

USD

58

0.00

3,344

0.07

USD

1,938,000 Husky Energy Inc 4% 15/04/2024

1,942

0.04

USD

1,769,000 Manulife Financial Corp 5.375% 04/03/2046

2,018

0.04

USD

1,676,000 Petro-Canada 6.8% 15/05/2038

2,135

0.04

0.07

401

0.01

42,208

0.83

Corporate Bonds 3,000,000 Athene Holding Ltd 4.125% 12/01/2028

2,810

0.06

Total Bermuda

2,810

0.06

Corporate Bonds 616,000 Bank of Montreal 1.9% 27/08/2021

593

0.01

70,000 Rio Tinto Alcan Inc 6.125% 15/12/2033

85

0.00

USD


4

0.00

USD

1,760,000 Rogers Communications Inc 4.3% 15/02/2048

1,714

0.03

USD

1,157,000 Rogers Communications Inc 5% 15/03/2044

1,207

0.02

USD

1,661,000 Royal Bank of Canada 2.75% 01/02/2022

1,633

0.03

USD


381

0.01

USD

1,719,000 Suncor Energy Inc 3.6% 01/12/2024

1,705

0.03

USD

1,450,000 Suncor Energy Inc 4% 15/11/2047

1,372

0.03

USD

4,253,000 Suncor Energy Inc 6.5% 15/06/2038

5,240

0.10

Canada (28 February 2018: 1.78%) USD

50,000 Encana Corp 6.5% 15/08/2034 3,615,000 Fortis Inc 3.055% 04/10/2026

USD

USD 3,701

563,000 Canadian Pacific Railway Co 6.125% 15/09/2115

USD

0.04

Bermuda (28 February 2018: Nil) USD

2,268

USD

0.08

659

Total Australia

0.11

2,188,000 Barrick Gold Corp 5.25% 01/04/2042

0.01

0.04

398,000 Westpac Banking Corp 3.65% 15/05/2023^

5,670

USD

0.01

1,972

3,840,000 Westpac Banking Corp 3.4% 25/01/2028^

0.01

0.00


2,349,000 Westpac Banking Corp 3.35% 08/03/2027

725

5,786,000 Bank of Nova Scotia 2.7% 07/03/2022

0.07

0.03


USD

0.08

USD 1,968




Holding Investment

Fair value $'000


[117]

iSHARES PLC

Schedule of Investments (unaudited) (continued) iSHARES $ CORP BOND UCITS ETF (continued) As at 31 August 2018

Ccy

Holding Investment

Fair value $'000


Ccy


Holding Investment

Fair value $'000


Germany (28 February 2018: 0.38%) Corporate Bonds

Canada (28 February 2018: 1.78%) (cont) Corporate Bonds (cont)

USD

125,000 Deutsche Bank AG 3.7% 30/05/2024

118

0.00

1,270

0.03

USD

3,645,000 Deutsche Bank AG 3.3% 16/11/2022

3,464

0.07

972

0.02

USD

1,421,000 Total Capital Canada Ltd 2.75% 15/07/2023

3,402,000 Deutsche Bank AG 3.375% 12/05/2021

3,331

0.07

1,384

0.03

USD

3,357,000 TransCanada PipeLines Ltd 2.5% 01/08/2022

3,000,000 Deutsche Bank AG 3.7% 30/05/2024

2,827

0.06

3,241

0.06

USD


100,000 Deutsche Bank AG 3.95% 27/02/2023

97

0.00

848

0.02

USD


1,189,000 Deutsche Bank AG 4.25% 14/10/2021

5,054

0.10

Total Germany

USD


511

0.01


USD


952

0.02


46

0.00


2,067

0.04


5,328

0.11

79,581

1.57


USD USD USD

987,000 Suncor Energy Inc 6.85% 01/06/2039 1,010,000 Toronto-Dominion Bank 1.8% 13/07/2021

Total Canada

Total Cayman Islands

1,919

0.04

1,919

0.04

0.22

Corporate Bonds 5,866,000 Credit Suisse Group Funding Guernsey Ltd 3.75% 26/03/2025

5,699

0.11

USD

5,157,000 Credit Suisse Group Funding Guernsey Ltd 3.8% 15/09/2022

5,153

0.10

USD


2,444

0.05

USD


7,945

0.16

USD


1,702

0.03

Total Guernsey

22,943

0.45

Corporate Bonds 1,935,000 Seagate HDD Cayman 4.25% 01/03/2022

0.02

USD

Cayman Islands (28 February 2018: 0.08%) USD

1,186 11,023


France (28 February 2018: 0.70%)

USD


695

0.01

USD

2,090,000 AerCap Ireland Capital DAC / AerCap Global Aviation Trust 3.95% 01/02/2022

2,090

0.04

USD

2,196,000 AerCap Ireland Capital DAC / AerCap Global Aviation Trust 5% 01/10/2021

2,267

0.04

USD

120,000 GE Capital International Funding Co Unlimited Co 2.342% 15/11/2020

118

0.00

USD


3,378

0.07

USD


21,685

0.43

USD

4,131,000 Shire Acquisitions Investments Ireland DAC 2.4% 23/09/2021

3,992

0.08

USD


6,364

0.13

USD


6,372

0.13

46,961

0.93

Corporate Bonds USD USD USD USD USD

719,000 BNP Paribas SA 3.25% 03/03/2023 100,000 BPCE SA 2.65% 03/02/2021 2,350,000 BPCE SA 4% 15/04/2024 60,000 Orange SA 5.375% 13/01/2042 310,000 Orange SA 5.5% 06/02/2044

712

0.01

98

0.00

2,374

0.05

66

0.00

344

0.01

USD

8,000,000 Orange SA 9% 01/03/2031

11,316

0.22

USD

1,055,000 Sanofi 3.375% 19/06/2023

1,060

0.02

USD

1,033,000 Sanofi 3.625% 19/06/2028

1,041

0.02


341

0.01

USD

2,349,000 Total Capital International SA 2.75% 19/06/2021

2,332

0.05

USD


USD


USD


USD

Total France

[118]


2,862 4,693

0.06 0.09

839

0.02

28,078

0.56

Total Ireland

iSHARES PLC


Ccy

Holding Investment

Fair value $'000


Ccy



Corporate Bonds

USD


514

0.01

2,453

0.05

3,857

0.08

82,436

1.63

2,090,000 Mitsubishi UFJ Financial Group Inc 2.19% 13/09/2021

2,013

0.04

USD


2,524,000 Sumitomo Mitsui Financial Group Inc 3.544% 17/01/2028

6,389

0.13

USD



1,503

0.03

USD


990

0.02

USD


61

0.00

USD

1,328,000 Mitsubishi UFJ Financial Group Inc 3.287% 25/07/2027^

USD

4,995,000 Mitsubishi UFJ Financial Group Inc 3.455% 02/03/2023^

USD USD

USD


USD


USD


USD


USD


1,268 4,968 863 756 3,086 4,901 1,016

0.09

2,311

0.05

146

0.00

USD

5,923,000 Allergan Funding SCS 4.55% 15/03/2035

5,819

0.12

USD


3,025

0.06

USD


2,506

0.05

USD

2,205,000 Medtronic Global Holdings SCA 3.35% 01/04/2027

2,169

0.04

USD

1,673,000 Schlumberger Investment SA 3.65% 01/12/2023 Total Luxembourg

1,693

0.03

27,449

0.54


2,500,000 Mizuho Financial Group Inc 2.953% 28/02/2022

USD


2,161

0.04

USD

2,750,000 Mizuho Financial Group Inc 4.018% 05/03/2028^

2,767

0.05

2,449

0.05

USD


USD


USD


5,083

0.10

USD


1,212

0.02

2,974 2,438

0.06 0.05

USD

3,049,000 Sumitomo Mitsui Financial Group Inc 2.784% 12/07/2022^

USD


509

0.01

USD


5,157

0.10


0.14


0.01

USD

USD

7,149

USD

0.02

4,554


0.10


0.10


USD

4,942

USD

0.06

USD



0.01


USD

Corporate Bonds USD

0.02

USD


Luxembourg (28 February 2018: 0.60%)

0.10


269

Total Japan

0.02

USD

USD


Japan (28 February 2018: 1.45%) (cont)

Japan (28 February 2018: 1.45%) USD

Holding Investment

Fair value $'000

2,966

2,549 3,707 3,393 3,299

0.06

0.05 0.07

Corporate Bonds USD


387

0.01

USD

4,550,000 Cooperatieve Rabobank UA 2.75% 10/01/2023

4,409

0.09

USD


945

0.02

USD


2,384

0.05

USD


8,104

0.16

USD


3,665

0.07

USD


2,092

0.04

USD


3,785

0.07

USD


4,723

0.09

USD


2,970

0.06

USD

5,783,000 Deutsche Telekom International Finance BV 8.75% 15/06/2030

7,839

0.16

USD

4,230,000 ING Groep NV 3.15% 29/03/2022

4,164

0.08

USD

4,239,000 ING Groep NV 3.95% 29/03/2027^

4,162

0.08

USD

2,964,000 LYB International Finance BV 4.875% 15/03/2044

2,971

0.06

0.07 0.06


[119]

iSHARES PLC


Ccy

Holding Investment

Fair value $'000


Ccy


Holding Investment

Fair value $'000


Spain (28 February 2018: 0.57%) Corporate Bonds

Netherlands (28 February 2018: 2.64%) (cont) Corporate Bonds (cont)

USD

1,880,000 Banco Santander SA 3.125% 23/02/2023

1,798

0.04

2,111

0.04

USD


1,655

0.03

669

0.01

USD

2,724,000 LyondellBasell Industries NV 4.625% 26/02/2055


885

0.02

2,552

0.05

USD

1,414,000 LyondellBasell Industries NV 5.75% 15/04/2024

800,000 Banco Santander SA 3.848% 12/04/2023^

787

0.02

1,540

0.03

USD

2,910,000 LyondellBasell Industries NV 6% 15/11/2021


3,345

0.07

3,104

0.06

USD

USD

3,479,000 Mylan NV 3.15% 15/06/2021

3,427

0.07


2,699

0.05

USD

2,036,000 Mylan NV 3.95% 15/06/2026

1,934

0.04

USD


1,014

0.02

USD

2,575,000 Mylan NV 5.25% 15/06/2046

2,421

0.05

USD

USD

2,630,000 Shell International Finance BV 1.75% 12/09/2021

6,000,000 Telefonica Emisiones SAU 4.103% 08/03/2027

5,819

0.11

2,532

0.05

USD



184

0.00

2,650

0.05

USD



1,295

0.03

2,662

0.05

USD


2,900,000 Telefonica Emisiones SAU 4.895% 06/03/2048^

2,751

0.05

2,566

0.05

USD



3,650

0.07

7,308

0.14

USD



2,451

0.05

USD


1,184

0.02

USD

4,384,000 Shell International Finance BV 4% 10/05/2046

4,304

0.09

USD USD USD USD USD

USD USD USD USD USD

2,016,000 LYB International Finance BV 5.25% 15/07/2043 705,000 LYB International Finance II BV 3.5% 02/03/2027

USD


USD


USD


USD


USD

240,000 Telefonica Europe BV 8.25% 15/09/2030 Total Netherlands

Total Spain

8,229 2,959

3,172,000 Skandinaviska Enskilda Banken AB 1.875% 13/09/2021

USD

100,000 Svenska Handelsbanken AB 1.875% 07/09/2021

USD

3,205,000 Svenska Handelsbanken AB 2.45% 30/03/2021

0.16 0.06

Total Sweden 0.12

311

0.01

118,938

2.35

Norway (28 February 2018: 0.24%) 2,702

0.05

USD

3,440,000 Equinor ASA 2.65% 15/01/2024

3,324

0.07

USD

12,000 Equinor ASA 3.15% 23/01/2022

12

0.00

0.06

96

0.00

3,138

0.06

6,266

0.12

Corporate Bonds USD

2,370,000 Credit Suisse AG 3% 29/10/2021

2,345

0.05

USD

6,441,000 Credit Suisse AG 3.625% 09/09/2024

6,396

0.12

8,741

0.17

Total Switzerland

2,792,000 Equinor ASA 2.45% 17/01/2023

3,032

Switzerland (28 February 2018: 0.20%)

Corporate Bonds USD

0.57

Corporate Bonds

0.11

6,025

0.06

Sweden (28 February 2018: 0.22%) USD

5,399

2,927 28,809

United Kingdom (28 February 2018: 4.86%) Corporate Bonds

USD

3,606,000 Equinor ASA 3.7% 01/03/2024

3,669

0.07

USD

485,000 AstraZeneca Plc 4% 17/01/2029

484

0.01

USD

1,570,000 Equinor ASA 3.95% 15/05/2043

1,516

0.03

USD

USD

2,299,000 Equinor ASA 4.8% 08/11/2043

2,501

0.05

660,000 AstraZeneca Plc 4.375% 17/08/2048

651

0.01

USD

30,000 Equinor ASA 5.1% 17/08/2040

34

0.00

USD

13,758

0.27

2,092,000 AstraZeneca Plc 2.375% 12/06/2022

2,014

0.04

USD

811,000 AstraZeneca Plc 3.125% 12/06/2027

762

0.02

Total Norway

[120]


iSHARES PLC


Ccy

Holding Investment

Fair value $'000


Ccy



Corporate Bonds (cont) 4,750,000 AstraZeneca Plc 3.375% 16/11/2025

4,615

0.09

USD

1,250,000 AstraZeneca Plc 4% 18/09/2042

1,178

0.02

USD

1,756,000 AstraZeneca Plc 4.375% 16/11/2045

USD USD

6,250,000 AstraZeneca Plc 6.45% 15/09/2037 4,270,000 Barclays Plc 4.338% 16/05/2024^

1,743 7,763 4,238 391

0.01

2,588

0.05

USD

4,500,000 Barclays Plc 3.684% 10/01/2023

4,396

0.09

USD

5,250,000 Barclays Plc 4.337% 10/01/2028

4,999

0.10

USD

3,287,000 Barclays Plc 4.375% 11/09/2024

3,184

0.06

USD

5,500,000 Barclays Plc 4.375% 12/01/2026

5,364

0.11

USD

3,695,000 Barclays Plc 4.836% 09/05/2028

3,520

0.07

USD

1,619,000 Barclays Plc 4.95% 10/01/2047

1,527

0.03

USD

4,165,000 Barclays Plc 4.972% 16/05/2029^

4,148

0.08

USD

2,558,000 Barclays Plc 5.2% 12/05/2026^

2,521

0.05

USD

1,651,000 Barclays Plc 5.25% 17/08/2045

1,629

0.03

USD

3,948,000 BP Capital Markets Plc 2.75% 10/05/2023

USD


USD


USD


USD


USD


USD


USD


USD USD

3,080,000 BP Capital Markets Plc 3.535% 04/11/2024 2,720,000 BP Capital Markets Plc 3.561% 01/11/2021

USD


USD


USD USD USD

495,000 BP Capital Markets Plc 3.814% 10/02/2024 431,000 BP Capital Markets Plc 3.994% 26/09/2023 6,221,000 British Telecommunications Plc 9.625% 15/12/2030

0.02

6,348,000 GlaxoSmithKline Capital Plc 2.85% 08/05/2022

6,263

0.12

USD

3,295,000 HSBC Holdings Plc 2.65% 05/01/2022

3,204

0.06

USD


2,895

0.06

2,010 2,656 3,835 4,233 3,165 1,265 1,633 2,733 4,863 292 3,077 2,749 1,270 2,645 502 442 8,911

749

0.02


6,844

0.14

USD


6,643

0.13

USD


2,233

0.04

USD

3,025,000 HSBC Holdings Plc 4% 30/03/2022

3,073

0.06

USD


4,762

0.09

USD


2,943

0.06

USD

2,235,000 HSBC Holdings Plc 4.25% 18/08/2025^

2,223

0.04

USD


7,403

0.15

USD


4,172

0.08

USD


3,633

0.07

USD


0.04 0.05 0.08

963

0.02

USD


1,384

0.03

USD


3,266

0.06

USD


1,218

0.02

USD


6,469

0.13

USD


6,295

0.12

USD


3,452

0.07

USD

5,055,000 Lloyds Banking Group Plc 2.907% 07/11/2023^

4,832

0.10

USD

3,527,000 Lloyds Banking Group Plc 3% 11/01/2022

3,450

0.07

USD

5,070,000 Lloyds Banking Group Plc 3.574% 07/11/2028

4,683

0.09

USD


3,059

0.06

USD


1,996

0.04

USD

2,875,000 Lloyds Banking Group Plc 4.344% 09/01/2048^

2,522

0.05

USD


44

0.00

0.08 0.06 0.03 0.03 0.05 0.10 0.01 0.06 0.05 0.03 0.05 0.01 0.01 0.18


USD

0.08

397,000 Barclays Plc 3.2% 10/08/2021


1,095

USD

USD

2,738,000 Barclays Plc 3.65% 16/03/2025

USD

1,127,000 Diageo Capital Plc 2.625% 29/04/2023

0.15

USD


USD

0.03

USD

USD



United Kingdom (28 February 2018: 4.86%) (cont) USD

Holding Investment

Fair value $'000


[121]

iSHARES PLC


Ccy

Holding Investment

Fair value $'000


Ccy




USD

846,000 Vodafone Group Plc 6.15% 27/02/2037^

944

0.02

3,254

0.06

288,744

5.70


2,444

0.05


2,678

0.05


USD


1,990

0.04


USD


3,133

0.06

USD

USD USD USD USD USD

1,995,000 Lloyds Banking Group Plc 4.65% 24/03/2026^ 545,000 Lloyds Banking Group Plc 5.3% 01/12/2045 1,263,000 Rio Tinto Finance USA Plc 4.125% 21/08/2042 1,960,000 Royal Bank of Scotland Group Plc 3.498% 15/05/2023 6,800,000 Royal Bank of Scotland Group Plc 3.875% 12/09/2023



United Kingdom (28 February 2018: 4.86%) (cont) USD

Holding Investment

Fair value $'000

1,972 555 1,245 1,906 6,621

USD

3,372,000 WPP Finance 2010 3.75% 19/09/2024

Corporate Bonds USD

1,527,000 21st Century Fox America Inc 3% 15/09/2022

1,501

0.03

USD

2,500,000 21st Century Fox America Inc 6.15% 01/03/2037

3,046

0.06

USD


3,406

0.07

USD


3,013

0.06

USD


1,352

0.03

USD


4,198

0.08

USD

1,762,000 3M Co 5.7% 15/03/2037

2,154

0.04

816

0.02

1,344

0.03

62

0.00

531

0.01

8,640

0.17

0.04 0.01 0.03 0.04 0.13

USD

1,250,000 Royal Bank of Scotland Group Plc 4.519% 25/06/2024

USD


567

0.01

USD

USD


3,827

0.08

USD


5,125

0.10

USD

2,785,000 Royal Bank of Scotland Group Plc 6% 19/12/2023

2,904

0.06

USD


2,094

0.04

USD


4,197

0.08

USD


86

0.00

339

0.01

USD


2,812,000 Abbott Laboratories 3.4% 30/11/2023

2,802

0.06

416

0.01

USD

4,400,000 Santander UK Group Holdings Plc 3.571% 10/01/2023


5,426

0.11

4,305

0.09

USD



3,600

0.07

2,632

0.05

USD

1,107,000 Vodafone Group Plc 2.5% 26/09/2022


8,536

0.17

1,064

0.02

USD

1,640,000 AbbVie Inc 2.85% 14/05/2023

1,587

0.03

USD

6,049,000 AbbVie Inc 2.9% 06/11/2022

5,903

0.12

USD

461,000 AbbVie Inc 3.2% 06/11/2022

456

0.01

USD

5,713,000 AbbVie Inc 3.2% 14/05/2026

5,381

0.11

USD

8,819,000 AbbVie Inc 3.6% 14/05/2025

8,606

0.17

USD

2,798,000 AbbVie Inc 4.3% 14/05/2036

2,684

0.05

USD

4,929,000 AbbVie Inc 4.4% 06/11/2042

4,616

0.09

USD

2,728,000 AbbVie Inc 4.45% 14/05/2046

2,574

0.05

USD

4,282,000 AbbVie Inc 4.5% 14/05/2035

4,188

0.08

USD

5,791,000 AbbVie Inc 4.7% 14/05/2045

5,647

0.11



1,254

2,243

0.03

0.04

USD


4,487

0.09

USD


3,130

0.06

USD USD USD USD

[122]

6,715,000 Vodafone Group Plc 4.375% 30/05/2028 1,539,000 Vodafone Group Plc 4.375% 19/02/2043

6,660 1,389

0.13 0.03

825,000 ABB Finance USA Inc 2.875% 08/05/2022 1,325,000 ABB Finance USA Inc 3.8% 03/04/2028 60,000 ABB Finance USA Inc 4.375% 08/05/2042 545,000 Abbott Laboratories 2.55% 15/03/2022 8,734,000 Abbott Laboratories 2.9% 30/11/2021 90,000 Abbott Laboratories 2.95% 15/03/2025

2,720,000 Vodafone Group Plc 5% 30/05/2038

2,707

0.05

USD


1,858,000 Activision Blizzard Inc 3.4% 15/09/2026

1,787

0.04

6,898

0.14

USD

2,561,000 Aetna Inc 2.75% 15/11/2022

2,479

0.05

USD

1,500,000 Aetna Inc 2.8% 15/06/2023

1,444

0.03


iSHARES PLC


Ccy

Holding Investment

Fair value $'000


Ccy



Corporate Bonds (cont) 2,585,000 Aetna Inc 3.5% 15/11/2024

2,537

200,000 Aetna Inc 3.875% 15/08/2047

177

0.00

USD

1,721,000 Aetna Inc 6.625% 15/06/2036

2,104

0.04

USD

2,858,000 Air Lease Corp 3% 15/09/2023

2,725

0.05

USD

5,390,000 Allergan Finance LLC 3.25% 01/10/2022

5,288

0.10

USD

1,163,000 Alphabet Inc 1.998% 15/08/2026

1,058

0.02

USD

2,633,000 Alphabet Inc 3.375% 25/02/2024

2,667

0.05

3,619,000 Altria Group Inc 2.85% 09/08/2022

USD

2,796,000 Altria Group Inc 3.875% 16/09/2046

USD

2,761,000 Altria Group Inc 4% 31/01/2024

3,551 2,482 2,818

0.06

USD

2,604,000 Altria Group Inc 4.75% 05/05/2021

2,704

0.05

USD

3,000,000 Altria Group Inc 5.375% 31/01/2044

3,261

0.06

0.01

USD

2,831,000 Amazon.com Inc 2.4% 22/02/2023

USD

4,720,000 Amazon.com Inc 2.5% 29/11/2022

USD

6,348,000 Amazon.com Inc 2.8% 22/08/2024

6,172

0.12

USD

5,038,000 Amazon.com Inc 3.15% 22/08/2027

4,859

0.10

4,610

0.05 0.09

USD

2,330,000 Amazon.com Inc 3.3% 05/12/2021

USD

1,281,000 Amazon.com Inc 3.8% 05/12/2024^

USD

5,350,000 Amazon.com Inc 3.875% 22/08/2037

5,295

0.10

USD

6,272,000 Amazon.com Inc 4.05% 22/08/2047

6,222

0.12


5,648,000 Amazon.com Inc 4.25% 22/08/2057 1,495,000 Amazon.com Inc 4.8% 05/12/2034 3,000,000 Amazon.com Inc 4.95% 05/12/2044^ 734,000 American Express Co 2.65% 02/12/2022 9,000 American Express Co 3% 30/10/2024 249,000 American Express Co 3.4% 27/02/2023

USD

1,770,000 American Express Co 4.05% 03/12/2042

USD

6,243,000 American Express Credit Corp 2.25% 05/05/2021

USD


2,349 1,315

5,666 1,641 3,380

0.05 0.03

0.11 0.03 0.07

708

0.01

9

0.00

247 1,753 6,090

5,235

0.10

USD

1,500,000 American Honda Finance Corp 1.7% 09/09/2021

1,437

0.03

USD

1,647,000 American International Group Inc 3.3% 01/03/2021

1,645

0.03

USD


1,813

0.04

USD


4,143

0.08

USD


4,233

0.08

USD


2,938

0.06

USD


2,090

0.04

USD


1,826

0.04

USD


2,276

0.05

USD


4,406

0.09

USD

2,896,000 American Tower Corp 3.375% 15/10/2026

2,718

0.05

USD

260,000 American Tower Corp 3.5% 31/01/2023

257

0.01

USD

1,227,000 American Tower Corp 3.55% 15/07/2027

1,158

0.02

USD

2,948,000 American Tower Corp 4% 01/06/2025

2,917

0.06

USD


769

0.02

0.05

318,000 Altria Group Inc 4.25% 09/08/2042

2,740


0.07

USD

297

USD 0.05

USD

USD




Holding Investment

Fair value $'000

0.00

USD

2,835,000 American Water Capital Corp 3.75% 01/09/2047

2,627

0.05

USD

1,305,000 Amgen Inc 1.85% 19/08/2021

1,256

0.02

USD

2,052,000 Amgen Inc 2.25% 19/08/2023

1,936

0.04

USD

1,910,000 Amgen Inc 2.6% 19/08/2026

1,741

0.03

USD

2,631,000 Amgen Inc 2.65% 11/05/2022

2,564

0.05

USD

2,317,000 Amgen Inc 3.125% 01/05/2025

2,229

0.04

USD

290,000 Amgen Inc 3.2% 02/11/2027 81,000 Amgen Inc 3.625% 15/05/2022

82

0.00

USD

2,709,000 Amgen Inc 3.625% 22/05/2024

2,720

0.05

USD

900,000 Amgen Inc 3.875% 15/11/2021

917

0.02

USD

2,162,000 Amgen Inc 4.1% 15/06/2021

2,205

0.04

USD

5,592,000 Amgen Inc 4.4% 01/05/2045^

5,388

0.11

USD

2,500,000 Amgen Inc 4.563% 15/06/2048

2,469

0.05

USD

7,500,000 Amgen Inc 4.663% 15/06/2051

7,410

0.15

USD

3,333,000 Anadarko Petroleum Corp 4.85% 15/03/2021

3,431

0.07

USD


2,218

0.04

5

0.00

0.03 0.12 0.11

0.01

USD

USD 5,634

275



[123]

iSHARES PLC


Ccy

Holding Investment

Fair value $'000


Ccy




USD

0.00

USD

1,424,000 Apache Corp 4.25% 15/01/2044

1,278

0.03

USD

6,686,000 Apache Corp 4.75% 15/04/2043

6,405

0.13

USD

1,965,000 Apache Corp 5.1% 01/09/2040

1,962

0.04

0.05

USD

558,000 Apache Corp 6% 15/01/2037

621

0.01

0.04

USD

1,625,000 Apple Inc 1.55% 04/08/2021

1,565

0.03

USD

3,261,000 Apple Inc 2.15% 09/02/2022

3,170

0.06

USD

1,380,000 Apple Inc 2.3% 11/05/2022

1,345

0.03

USD

100,000 Apple Inc 2.4% 13/01/2023

97

0.00

USD

9,934,000 Apple Inc 2.4% 03/05/2023

9,603

0.19

USD

3,605,000 Apple Inc 2.45% 04/08/2026

3,344

0.07

USD

4,449,000 Apple Inc 2.5% 09/02/2022

4,375

0.09

USD

2,319,000 Apple Inc 2.5% 09/02/2025^

2,198

0.04

USD

5,175,000 Apple Inc 2.7% 13/05/2022

5,114

0.10

USD

2,325,000 Apple Inc 2.75% 13/01/2025

2,244

0.04

USD

2,364,000 Apple Inc 2.85% 23/02/2023

2,340

0.05

USD

380,000 Apple Inc 2.85% 11/05/2024

371

0.01

USD

387,000 Apple Inc 2.9% 12/09/2027

368

0.01

USD


4,832

0.10

USD

2,390,000 Analog Devices Inc 3.5% 05/12/2026

2,296

USD

2,115,000 Andeavor 5.125% 15/12/2026

2,242

USD

2,115,000 Andeavor Logistics LP / Tesoro Logistics Finance Corp 4.25% 01/12/2027

USD USD USD USD

491

0.01

15,390,000 Anheuser-Busch InBev Finance Inc 3.3% 01/02/2023

15,260

0.30

135,000 Anheuser-Busch InBev Finance Inc 3.7% 01/02/2024 2,378,000 Anheuser-Busch InBev Finance Inc 4.625% 01/02/2044 14,383,000 Anheuser-Busch InBev Finance Inc 4.7% 01/02/2036

USD


USD

5,975,000 Anheuser-Busch InBev Worldwide Inc 2.5% 15/07/2022

USD USD USD USD

USD

USD USD

0.04



902,000 Anheuser-Busch InBev Worldwide Inc 3.5% 12/01/2024 3,000,000 Anheuser-Busch InBev Worldwide Inc 3.75% 15/01/2022 5,717,000 Anheuser-Busch InBev Worldwide Inc 4% 13/04/2028 5,415,000 Anheuser-Busch InBev Worldwide Inc 4.375% 15/04/2038 660,000 Anheuser-Busch InBev Worldwide Inc 4.439% 06/10/2048 3,865,000 Anheuser-Busch InBev Worldwide Inc 4.6% 15/04/2048 4,000,000 Anheuser-Busch InBev Worldwide Inc 4.75% 15/04/2058

22,311 136 2,345 14,608 24,083 5,791

0.44 0.00 0.05 0.29 0.48 0.11

897

0.02

3,044

0.06

5,707

5,307

0.11

0.10

635

0.01

3,805

0.08

3,933

0.08

USD


2,542

0.05

USD


2,289

0.05

1,510,000 Anthem Inc 2.95% 01/12/2022

1,473

0.03

953

0.02

2,967

0.06

USD USD USD USD

965,000 Anthem Inc 3.125% 15/05/2022 3,000,000 Anthem Inc 3.3% 15/01/2023 120,000 Anthem Inc 3.35% 01/12/2024

117

0.00

USD

1,500,000 Anthem Inc 3.5% 15/08/2024

1,472

0.03

USD

4,602,000 Anthem Inc 4.101% 01/03/2028

4,530

0.09

USD

2,300,000 Anthem Inc 4.375% 01/12/2047

2,148

0.04

USD

400,000 Anthem Inc 4.55% 01/03/2048

384

0.01

USD

1,446,000 Anthem Inc 4.625% 15/05/2042

1,402

0.03

USD

2,674,000 Anthem Inc 4.65% 15/01/2043

2,597

0.05

[124]


0.05

18

0.05

USD

2,437

18,000 Apache Corp 3.25% 15/04/2022

2,533

2,081

2,514,000 Anthem Inc 4.65% 15/08/2044

USD


USD




Holding Investment

Fair value $'000

USD

6,775,000 Apple Inc 3% 09/02/2024

6,685

0.13

USD

4,335,000 Apple Inc 3% 20/06/2027

4,158

0.08

USD

2,661,000 Apple Inc 3% 13/11/2027

2,549

0.05

USD

4,371,000 Apple Inc 3.2% 13/05/2025

4,329

0.09

USD

4,743,000 Apple Inc 3.2% 11/05/2027

4,617

0.09

USD

7,657,000 Apple Inc 3.25% 23/02/2026

7,534

0.15

USD

7,145,000 Apple Inc 3.35% 09/02/2027

7,033

0.14

USD

7,748,000 Apple Inc 3.45% 06/05/2024

7,802

0.15

USD

2,315,000 Apple Inc 3.45% 09/02/2045

2,103

0.04

USD

140,000 Apple Inc 3.75% 12/09/2047

133

0.00

USD

1,599,000 Apple Inc 3.75% 13/11/2047^

1,515

0.03

USD

5,817,000 Apple Inc 3.85% 04/05/2043

5,636

0.11

USD

5,115,000 Apple Inc 3.85% 04/08/2046

4,942

0.10

USD

3,313,000 Apple Inc 4.25% 09/02/2047

3,400

0.07

USD

5,097,000 Apple Inc 4.375% 13/05/2045

5,331

0.11

USD

1,674,000 Apple Inc 4.45% 06/05/2044^

1,772

0.04

USD

718,000 Apple Inc 4.5% 23/02/2036

USD

778

0.02

8,496,000 Apple Inc 4.65% 23/02/2046

9,255

0.18

USD

2,199,000 Applied Materials Inc 3.3% 01/04/2027

2,144

0.04

USD

2,067,000 Applied Materials Inc 4.35% 01/04/2047

2,091

0.04

695

0.01

USD USD

753,000 Archer-Daniels-Midland Co 2.5% 11/08/2026 15,000 Ares Capital Corp 3.5% 10/02/2023

14

0.00

USD

2,011,000 AT&T Inc 2.625% 01/12/2022

1,930

0.04

USD

3,719,000 AT&T Inc 3% 15/02/2022

3,654

0.07

USD

4,300,000 AT&T Inc 3% 30/06/2022

4,200

0.08

USD

2,675,000 AT&T Inc 3.2% 01/03/2022^

2,645

0.05

USD

9,200,000 AT&T Inc 3.4% 15/05/2025

8,756

0.17

USD

2,915,000 AT&T Inc 3.6% 17/02/2023

2,905

0.06

iSHARES PLC


Ccy

Holding Investment

Fair value $'000


Ccy



Corporate Bonds (cont) 1,997,000 AT&T Inc 3.8% 15/03/2022^

2,012

1,300,000 AT&T Inc 3.8% 01/03/2024^

1,294

0.03

USD

3,332,000 AT&T Inc 3.875% 15/08/2021

3,375

0.07

USD

3,216,000 AT&T Inc 3.9% 11/03/2024

3,211

0.06

USD

2,750,000 AT&T Inc 3.95% 15/01/2025

2,710

0.05

USD

5,737,000 AT&T Inc 4.1% 15/02/2028

5,588

0.11

USD

3,737,000 AT&T Inc 4.125% 17/02/2026

3,693

0.07

USD

5,300,000 AT&T Inc 4.25% 01/03/2027

5,233

0.10

USD

2,773,000 AT&T Inc 4.3% 15/02/2030

2,660

0.05

USD

2,477,000 AT&T Inc 4.3% 15/12/2042

2,125

0.04

USD

6,025,000 AT&T Inc 4.35% 15/06/2045

5,150

0.10

USD

1,500,000 AT&T Inc 4.45% 15/05/2021

1,540

0.03

USD

1,296,000 AT&T Inc 4.45% 01/04/2024^

1,325

0.03

USD

6,428,000 AT&T Inc 4.5% 15/05/2035

5,975

0.12

USD

8,892,000 AT&T Inc 4.5% 09/03/2048

7,703

0.15

USD

1,846,000 AT&T Inc 4.55% 09/03/2049

1,604

0.03

USD

5,492,000 AT&T Inc 4.75% 15/05/2046

4,964

0.10

USD

4,769,000 AT&T Inc 4.8% 15/06/2044

4,343

0.09

USD

866,000 AT&T Inc 5.15% 15/03/2042

830

0.02

USD

4,616,000 AT&T Inc 5.15% 15/11/2046

4,402

0.09

USD

4,900,000 AT&T Inc 5.15% 15/02/2050

4,572

0.09

USD

6,322,000 AT&T Inc 5.25% 01/03/2037

6,274

0.12

USD

5,007,000 AT&T Inc 5.35% 01/09/2040

4,920

0.10

USD

4,680,000 AT&T Inc 5.45% 01/03/2047

4,648

0.09

USD

3,175,000 AT&T Inc 5.55% 15/08/2041

3,173

0.06

USD

4,032,000 AT&T Inc 5.65% 15/02/2047

4,113

0.08

USD

2,750,000 AT&T Inc 5.7% 01/03/2057

2,743

0.05

USD

3,402,000 AT&T Inc 6% 15/08/2040

3,564

0.07

USD

1,125,000 AT&T Inc 6.375% 01/03/2041

1,229

0.02

USD

1,886,000 Automatic Data Processing Inc 3.375% 15/09/2025

USD

2,165,000 AXA Equitable Holdings Inc 3.9% 20/04/2023

USD

3,260,000 AXA Equitable Holdings Inc 4.35% 20/04/2028

USD

4,065,000 AXA Equitable Holdings Inc 5% 20/04/2048

USD


USD

USD USD USD

4,100,000 Baker Hughes a GE Co LLC / Baker Hughes Co-Obligor Inc 3.337% 15/12/2027

1,878 2,155 3,165 3,823

513

3,880

USD

11,437,000 Bank of America Corp 3.004% 20/12/2023

11,129

0.22

USD


613

0.01

USD


1,574

0.03

USD


6,722

0.13

USD


8,129

0.16

USD


6,016

0.12

USD


3,726

0.07

USD


5,558

0.11

0.04

USD

USD




Holding Investment

Fair value $'000

USD


185

0.00

USD


5,586

0.11

USD


1,854

0.04

USD


7,778

0.15

USD


1,707

0.03

USD


6,263

0.12

USD


1,649

0.03

USD


6,843

0.14

USD


1,376

0.03

USD

5,597,000 Bank of America Corp 4% 01/04/2024

5,687

0.11

USD


5,374

0.11

USD


4,345

0.09

USD


5,296

0.10

USD


2,474

0.05

USD


3,664

0.07

USD


2,136

0.04

USD


5,618

0.11

USD


4,127

0.08

USD


3,858

0.08

USD


4,952

0.10

456

0.01

0.04 0.04 0.06 0.08

0.01

0.08

4,561,000 Baker Hughes a GE Co LLC / Baker Hughes Co-Obligor Inc 4.08% 15/12/2047

4,164

0.08


5,088

0.10


5,009

0.10


3,641

0.07

USD



[125]

iSHARES PLC


Ccy

Holding Investment

Fair value $'000


Ccy




USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD




Holding Investment

Fair value $'000

USD

1,928,000 Becton Dickinson and Co 2.894% 06/06/2022

1,878

0.04

6,503

0.13

USD



4,528

0.09

4

0.00

USD



3,712

0.07

3,799

0.08

USD



3,510

0.07

7,325

0.14

USD


3,324

0.07

612

0.01

USD

1,770,000 Bank of New York Mellon Corp 3.45% 11/08/2023


4,449

0.09

1,771

0.04

USD



1,281

0.03

1,701

0.03

USD



726

0.01

721

0.01

USD


1,858,000 Berkshire Hathaway Energy Co 4.5% 01/02/2045

1,880

0.04

2,111

0.04

USD



1,891

0.04

1,352

0.03

USD



5,085

0.10

253

0.01

USD


982,000 Berkshire Hathaway Finance Corp 3% 15/05/2022

982

0.02

2,454

0.05

USD


2,000,000 Berkshire Hathaway Finance Corp 4.2% 15/08/2048

2,030

0.04

5,345

0.11

USD



188

0.00

1,330

0.03

USD


5,065,000 Berkshire Hathaway Inc 2.75% 15/03/2023

4,982

0.10

1,046

0.02

USD



6,419

0.13

2,133

0.04

USD


2,548,000 Berkshire Hathaway Inc 4.5% 11/02/2043^

2,693

0.05

993

0.02

USD

3,750,000 Biogen Inc 4.05% 15/09/2025

3,777

0.07

USD

2,390,000 Biogen Inc 5.2% 15/09/2045

2,542

0.05


510,000 Bank of America NA 6% 15/10/2036


1,076

0.02

USD

2,709,000 Barrick North America Finance LLC 5.7% 30/05/2041^

114,000 Booking Holdings Inc 3.6% 01/06/2026

111

0.00

2,965

0.06

USD

2,966,000 Barrick North America Finance LLC 5.75% 01/05/2043

2,840,000 Boston Properties LP 2.75% 01/10/2026

2,600

0.05

3,267

0.06

USD

4,854,000 BAT Capital Corp 2.764% 15/08/2022


2,496

0.05

4,702

0.09

USD

5,001,000 BAT Capital Corp 3.222% 15/08/2024


1,618

0.03

4,792

0.09

USD

7,296,000 BAT Capital Corp 3.557% 15/08/2027


66

0.00

6,833

0.14

USD

5,293,000 BAT Capital Corp 4.39% 15/08/2037

1,290,000 Boston Scientific Corp 4% 01/03/2028

1,281

0.03

4,933

0.10

USD

5,473,000 BAT Capital Corp 4.54% 15/08/2047

2,231,000 Branch Banking & Trust Co 2.625% 15/01/2022

2,187

0.04

5,060

0.10

USD

USD

3,914,000 Baxalta Inc 4% 23/06/2025

3,944

0.08


312

0.01

USD

1,604,000 Baxalta Inc 5.25% 23/06/2045

1,735

0.03

USD

USD



610

0.01

458

0.01

USD

2,938,000 BB&T Corp 2.05% 10/05/2021

2,848

0.06

2,245,000 Brighthouse Financial Inc 3.7% 22/06/2027

2,005

0.04

USD

3,093,000 Brighthouse Financial Inc 4.7% 22/06/2047

2,578

0.05


USD USD

2,500,000 BB&T Corp 2.75% 01/04/2022

2,452

0.05

USD

400,000 BB&T Corp 2.85% 26/10/2024

385

0.01

[126]


iSHARES PLC


Ccy

Holding Investment

Fair value $'000


Ccy




USD

USD

USD

USD

USD

USD

USD USD

750,000 Bristol-Myers Squibb Co 3.25% 27/02/2027 2,500,000 Broadcom Corp / Broadcom Cayman Finance Ltd 2.65% 15/01/2023 6,778,000 Broadcom Corp / Broadcom Cayman Finance Ltd 3% 15/01/2022 1,750,000 Broadcom Corp / Broadcom Cayman Finance Ltd 3.125% 15/01/2025

USD 733

2,366

6,611

1,626

0.01

0.13

0.03

2,443

0.05

6,740,000 Broadcom Corp / Broadcom Cayman Finance Ltd 3.625% 15/01/2024

6,532

0.13

8,659

0.17

1,351,000 Burlington Northern Santa Fe LLC 3.9% 01/08/2046

1,288

0.03

USD


195 2,733

0.00 0.05

USD


USD


USD


3,729

0.07


699

0.01

USD USD USD


3,414

0.07

USD

5,035,000 Capital One NA 2.95% 23/07/2021

4,961

0.10

USD

1,410,000 Cardinal Health Inc 2.616% 15/06/2022

1,353

0.03

USD


3,046

0.06

USD


3,331

0.07

USD

2,692,000 Caterpillar Financial Services Corp 1.7% 09/08/2021

2,593

0.05

877

0.02

5,044

0.10

USD

646 3,398

1,181

872,000 Caterpillar Inc 3.4% 15/05/2024 5,225,000 Caterpillar Inc 3.803% 15/08/2042^ 135,000 Caterpillar Inc 5.2% 27/05/2041

156

0.00

1,120,000 CBS Corp 3.5% 15/01/2025

1,074

0.02

USD

2,400,000 CBS Corp 4% 15/01/2026

2,348

0.05

USD

2,646,000 CC Holdings GS V LLC / Crown Castle GS III Corp 3.849% 15/04/2023

2,636

0.05

USD

2,646,000 Celgene Corp 2.75% 15/02/2023

2,549

0.05

USD

1,070,000 Celgene Corp 3.25% 15/08/2022

1,060

0.02

USD

3,790,000 Celgene Corp 3.25% 20/02/2023

3,727

0.07

USD

75,000 Celgene Corp 3.45% 15/11/2027

70

0.00

USD

0.03


0.02

USD

1,493

USD

807

3,542,000 Capital One NA 2.25% 13/09/2021

USD

1,500,000 Brookfield Finance LLC 4% 01/04/2024


USD

0.05






Holding Investment

Fair value $'000

USD

347,000 Celgene Corp 3.625% 15/05/2024

344

0.01

USD

8,104,000 Celgene Corp 3.875% 15/08/2025

7,984

0.16

USD

2,826,000 Celgene Corp 3.9% 20/02/2028

2,740

0.05

USD

2,460,000 Celgene Corp 4.35% 15/11/2047

2,236

0.04

USD

2,710,000 Celgene Corp 4.55% 20/02/2048

2,540

0.05

USD

3,013,000 Celgene Corp 4.625% 15/05/2044

2,851

0.06

USD

3,675,000 Celgene Corp 5% 15/08/2045

3,647

0.07

0.01 0.07

0.02

3,176,000 Campbell Soup Co 3.65% 15/03/2023

3,111

0.06

USD

1,280,000 Campbell Soup Co 4.15% 15/03/2028

2,000,000 Charles Schwab Corp 3.85% 21/05/2025

2,037

0.04

1,232

0.02

USD

USD

1,524,000 Capital One Bank USA NA 3.375% 15/02/2023

1,490

0.03

USD

2,354,000 Capital One Financial Corp 3.2% 30/01/2023

511,000 Charter Communications Operating LLC / Charter Communications Operating Capital 3.75% 15/02/2028

471

0.01

2,297

0.05

USD


916

0.02

356,000 Charter Communications Operating LLC / Charter Communications Operating Capital 4.2% 15/03/2028

340

0.01

USD

7,399,000 Charter Communications Operating LLC / Charter Communications Operating Capital 4.464% 23/07/2022

7,548

0.15

USD

9,688,000 Charter Communications Operating LLC / Charter Communications Operating Capital 4.908% 23/07/2025

9,878

0.20

USD

USD USD


3,215

0.06

USD


4,684

0.09

USD


5,251

0.10

USD


2,726

0.05

USD


1,657

0.03


[127]

iSHARES PLC


Ccy

Holding Investment

Fair value $'000


Ccy




USD

USD

USD


6,164,000 Charter Communications Operating LLC / Charter Communications Operating Capital 5.375% 01/05/2047 480,000 Charter Communications Operating LLC / Charter Communications Operating Capital 5.75% 01/04/2048 4,274,000 Charter Communications Operating LLC / Charter Communications Operating Capital 6.384% 23/10/2035 9,606,000 Charter Communications Operating LLC / Charter Communications Operating Capital 6.484% 23/10/2045 4,371,000 Chevron Corp 2.355% 05/12/2022 2,123,000 Chevron Corp 2.566% 16/05/2023




Holding Investment

Fair value $'000

5,790

475

4,556

0.11

0.01

0.09

10,260

0.20

4,232

0.08

2,063

0.04

USD

4,074,000 Citigroup Inc 2.876% 24/07/2023

USD

646,000 Citigroup Inc 2.9% 08/12/2021

3,951

0.08

636

0.01

USD

1,085,000 Citigroup Inc 3.142% 24/01/2023^

1,070

0.02

USD

7,975,000 Citigroup Inc 3.2% 21/10/2026

7,481

0.15

USD

3,735,000 Citigroup Inc 3.3% 27/04/2025

3,610

0.07

USD

6,564,000 Citigroup Inc 3.4% 01/05/2026

6,277

0.12

USD

4,391,000 Citigroup Inc 3.5% 15/05/2023

4,327

0.09

USD

6,675,000 Citigroup Inc 3.52% 27/10/2028

6,302

0.12

USD

6,768,000 Citigroup Inc 3.668% 24/07/2028

6,456

0.13

USD

1,916,000 Citigroup Inc 3.7% 12/01/2026

1,870

0.04

USD

3,578,000 Citigroup Inc 3.875% 25/10/2023

3,607

0.07

USD

745,000 Citigroup Inc 3.875% 26/03/2025

725

0.01

USD

1,260,000 Citigroup Inc 3.878% 24/01/2039

1,165

0.02

USD

3,850,000 Citigroup Inc 3.887% 10/01/2028

3,747

0.07

USD

1,410,000 Citigroup Inc 4.044% 01/06/2024

1,424

0.03

USD

2,615,000 Citigroup Inc 4.05% 30/07/2022

2,642

0.05

USD

6,550,000 Citigroup Inc 4.075% 23/04/2029

6,455

0.13

1,895,000 Chevron Corp 2.895% 03/03/2024

1,854

0.04

USD

5,099,000 Chevron Corp 2.954% 16/05/2026

3,024,000 Citigroup Inc 4.125% 25/07/2028^

2,922

0.06

4,901

0.10

USD

1,749,000 Citigroup Inc 4.281% 24/04/2048

1,693

0.03

USD

6,853,000 Citigroup Inc 4.4% 10/06/2025

6,859

0.14

USD

9,939,000 Citigroup Inc 4.45% 29/09/2027

9,841

0.19

3,262,000 Chevron Corp 3.191% 24/06/2023

3,262

0.06

1,195,000 Chevron Corp 3.326% 17/11/2025

1,182

0.02

USD

4,955,000 Citigroup Inc 4.5% 14/01/2022

5,110

0.10

USD

1,516,000 Chubb Corp 6% 11/05/2037

1,868

0.04

USD

3,984,000 Citigroup Inc 4.6% 09/03/2026

4,013

0.08

USD

2,324,000 Chubb INA Holdings Inc 2.875% 03/11/2022

USD

2,646,000 Citigroup Inc 4.65% 30/07/2045

2,682

0.05

USD

3,338,000 Citigroup Inc 4.75% 18/05/2046

3,292

0.07

USD

1,127,000 Citigroup Inc 5.3% 06/05/2044

1,192

0.02

USD

2,483,000 Citigroup Inc 5.5% 13/09/2025

2,641

0.05

USD

2,903,000 Citigroup Inc 5.875% 30/01/2042

3,415

0.07

USD

400,000 Citigroup Inc 6.625% 15/06/2032

475

0.01

USD USD USD

1,612,000 Chubb INA Holdings Inc 3.15% 15/03/2025 3,361,000 Chubb INA Holdings Inc 3.35% 03/05/2026

2,285 1,574 3,300

0.05 0.03 0.07

3,623,000 Chubb INA Holdings Inc 4.35% 03/11/2045

3,774

0.07

USD

101,000 Citigroup Inc 6.675% 13/09/2043

125

0.00

USD

1,592,000 Cigna Corp 3.25% 15/04/2025

1,504

0.03

USD

4,226,000 Citigroup Inc 8.125% 15/07/2039

6,087

0.12

USD

2,535,000 Cigna Corp 3.875% 15/10/2047

2,165

0.04

USD

USD

4,498,000 Cisco Systems Inc 1.85% 20/09/2021

449,000 Citizens Financial Group Inc 4.3% 03/12/2025

4,353

0.09

USD

1,963,000 CME Group Inc 3% 15/03/2025

USD USD USD USD


2,702

0.05


2,413

0.05


1,536

0.03


2,870

0.06

447

0.01

1,911

0.04 0.00

USD

20,000 CME Group Inc 5.3% 15/09/2043

24

USD

30,000 Coca-Cola Co 1.55% 01/09/2021

29

0.00

USD

4,271,000 Coca-Cola Co 2.25% 01/09/2026

3,899

0.08

USD

3,400,000 Coca-Cola Co 2.875% 27/10/2025

3,289

0.07

USD

1,805,000 Coca-Cola Co 3.2% 01/11/2023

1,805

0.04

USD

1,003,000 Coca-Cola Co 3.3% 01/09/2021

1,013

0.02

USD

2,305,000 Columbia Pipeline Group Inc 4.5% 01/06/2025

2,327

0.05

USD

1,860,000 Comcast Cable Communications Holdings Inc 9.455% 15/11/2022

USD


USD


3,202

0.06

2,281

0.05

USD

2,000,000 Citigroup Inc 4.65% 23/07/2048

2,043

0.04

USD

5,254,000 Comcast Corp 2.35% 15/01/2027

4,671

0.09

USD

4,036,000 Citigroup Inc 2.35% 02/08/2021

3,924

0.08

USD

3,556,000 Comcast Corp 2.75% 01/03/2023

3,460

0.07

USD

1,727,000 Citigroup Inc 2.7% 27/10/2022

1,668

0.03

USD

682,000 Comcast Corp 2.85% 15/01/2023

666

0.01

USD

8,075,000 Citigroup Inc 2.75% 25/04/2022

7,859

0.16

USD

515,000 Comcast Corp 3% 01/02/2024

501

0.01

[128]


2,481

0.05

iSHARES PLC


Ccy

Holding Investment

Fair value $'000


Ccy




USD


200

0.00

USD

3,385,000 Crown Castle International Corp 3.65% 01/09/2027

3,210

0.06

USD


1,898

0.04

USD


1,245

0.02

USD


3,002

0.06

USD


666

0.01


1,792,000 Comcast Corp 3.125% 15/07/2022

1,777

0.04

USD

5,593,000 Comcast Corp 3.15% 01/03/2026

5,329

0.11

USD

4,245,000 Comcast Corp 3.15% 15/02/2028

3,984

0.08

USD

2,425,000 Comcast Corp 3.2% 15/07/2036

2,074

0.04

USD

4,856,000 Comcast Corp 3.3% 01/02/2027

4,640

0.09

USD

2,097,000 Comcast Corp 3.375% 15/02/2025

USD

3,514,000 Comcast Corp 3.375% 15/08/2025

3,423

0.07

USD

3,323,000 Comcast Corp 3.4% 15/07/2046

2,734

0.05

USD

USD

2,170,000 Comcast Corp 3.55% 01/05/2028^

2,102

0.04

USD

1,002,000 CSX Corp 3.25% 01/06/2027

USD

2,565,000 Comcast Corp 3.6% 01/03/2024

2,566

0.05

USD

USD

1,500,000 Comcast Corp 3.9% 01/03/2038

1,391

0.03

USD

USD

3,221,000 Comcast Corp 3.969% 01/11/2047

2,908

0.06

5,250,000 Comcast Corp 3.999% 01/11/2049

4,748

0.09

2,512,000 Comcast Corp 4% 15/08/2047

2,281

0.05

USD

1,593,000 Comcast Corp 4% 01/03/2048

1,447

0.03

USD

1,466,000 Comcast Corp 4.049% 01/11/2052

1,304

0.03

USD

4,852,000 Comcast Corp 4.2% 15/08/2034

4,732

0.09

USD

3,241,000 Comcast Corp 4.25% 15/01/2033

3,229

0.06

USD

5,303,000 Comcast Corp 4.4% 15/08/2035

5,254

0.10

USD

3,036,000 Comcast Corp 4.6% 15/08/2045

2,989

0.06

USD

2,952,000 Comcast Corp 4.65% 15/07/2042

2,936

0.06

USD

2,686,000 Comcast Corp 4.75% 01/03/2044

2,701

USD

65,000 Comcast Corp 6.95% 15/08/2037

USD USD

USD USD USD USD




Holding Investment

Fair value $'000

2,045

0.04

450

0.01

955

0.02

3,500,000 CSX Corp 3.8% 01/03/2028

3,463

0.07

1,143,000 CSX Corp 3.8% 01/11/2046

1,034

0.02

USD

145,000 CSX Corp 4.1% 15/03/2044

137

0.00

USD

1,770,000 CSX Corp 4.3% 01/03/2048

1,716

0.03

USD

2,679,000 CVS Health Corp 2.125% 01/06/2021

2,594

0.05

USD

3,767,000 CVS Health Corp 2.75% 01/12/2022

3,632

0.07

USD

2,080,000 CVS Health Corp 2.875% 01/06/2026

1,908

0.04

USD

3,267,000 CVS Health Corp 3.5% 20/07/2022

3,250

0.06

USD

11,265,000 CVS Health Corp 3.7% 09/03/2023

11,259

0.22

USD

6,561,000 CVS Health Corp 3.875% 20/07/2025

6,463

0.13

0.05

USD

2,193,000 CVS Health Corp 4% 05/12/2023

2,204

0.04

82

0.00

USD

10,260,000 CVS Health Corp 4.1% 25/03/2025

10,279

0.20

492

0.01

USD

2,040,000 Concho Resources Inc 3.75% 01/10/2027

14,035,000 CVS Health Corp 4.3% 25/03/2028

13,916

0.27

1,951

0.04

USD

2,135,000 Concho Resources Inc 4.875% 01/10/2047

10,893,000 CVS Health Corp 4.78% 25/03/2038

10,844

0.21

2,166

0.04

USD

4,750,000 ConocoPhillips 6.5% 01/02/2039

6,197

0.12

16,315,000 CVS Health Corp 5.05% 25/03/2048

16,636

0.33

7,742

0.15

500,000 Commonwealth Edison Co 4% 01/03/2048

USD

3,750,000 ConocoPhillips Co 4.3% 15/11/2044

USD

3,949,000 ConocoPhillips Co 4.95% 15/03/2026

3,895 4,272

USD

7,571,000 CVS Health Corp 5.125% 20/07/2045

USD

1,468,000 Daimler Finance North America LLC 8.5% 18/01/2031

2,072

0.04

USD

4,660,000 Deere & Co 2.6% 08/06/2022

4,567

0.09

0.08 0.08

USD


989

0.02

USD

USD

1,511,000 Consolidated Edison Co of New York Inc 4.625% 01/12/2054

4,756,000 Dell International LLC / EMC Corp 5.45% 15/06/2023

4,999

0.10

1,565

0.03

USD

1,761,000 Costco Wholesale Corp 2.15% 18/05/2021


10,053

0.20

1,727

0.03

USD

3,358,000 Costco Wholesale Corp 2.75% 18/05/2024


3,727

0.07

3,267

0.06

USD

911,000 Costco Wholesale Corp 3% 18/05/2027


4,955

0.10

876

0.02

USD


3,285,000 Devon Energy Corp 3.25% 15/05/2022

3,235

0.06

771

0.02

USD

1,828,000 Devon Energy Corp 4.75% 15/05/2042

1,778

0.04

USD USD USD USD


[129]

iSHARES PLC


Ccy

Holding Investment

Fair value $'000


Ccy




USD USD

1,823,000 Devon Energy Corp 5% 15/06/2045 1,919,000 Devon Energy Corp 5.6% 15/07/2041 286,000 Diageo Investment Corp 2.875% 11/05/2022

1,843

0.04

2,052

0.04

282

0.01

USD

1,025,000 Eastman Chemical Co 4.65% 15/10/2044

1,007

0.02

USD

6,483,000 Eaton Corp 2.75% 02/11/2022

6,316

0.12

USD

900,000 Eaton Corp 4.15% 02/11/2042

864

0.02

2,714

0.05

USD USD

2,800,000 eBay Inc 2.6% 15/07/2022^ 123,000 eBay Inc 2.75% 30/01/2023

119

0.00

USD

3,300,000 eBay Inc 3.6% 05/06/2027

3,145

0.06

1,013

0.02

USD

2,785,000 Digital Realty Trust LP 3.7% 15/08/2027

2,677

0.05

USD

1,000,000 eBay Inc 3.8% 09/03/2022

USD

3,351,000 Discover Bank 3.2% 09/08/2021

3,315

0.07

USD

341,000 eBay Inc 4% 15/07/2042

USD

2,072,000 Discover Bank 3.45% 27/07/2026

1,943

0.04

USD

USD

1,020,000 Discover Bank 4.2% 08/08/2023

1,031

0.02

USD

259,000 Ecolab Inc 5.5% 08/12/2041

USD

1,668,000 Discovery Communications LLC 2.95% 20/03/2023

USD

3,410,000 EI du Pont de Nemours & Co 2.8% 15/02/2023

USD


USD

3,091,000 EI du Pont de Nemours & Co 4.15% 15/02/2043

USD


1,854

0.04

5,100,000 Discovery Communications LLC 5% 20/09/2037

4,973

0.10

USD USD USD

2,390,000 Discovery Communications LLC 5.2% 20/09/2047 320,000 Discovery Communications LLC 6.35% 01/06/2040

1,604 1,495

0.03 0.03 USD

2,318 352

2,174,000 Dollar Tree Inc 3.7% 15/05/2023

2,158

0.04

2,986,000 Dollar Tree Inc 4% 15/05/2025

2,968

0.06

USD

2,290,000 Dollar Tree Inc 4.2% 15/05/2028

2,255

0.04

USD

3,192,000 Dominion Energy Inc 3.9% 01/10/2025

USD

2,804,000 Dow Chemical Co 3% 15/11/2022

USD

2,981,000 Dow Chemical Co 3.5% 01/10/2024

USD

2,602,000 Dow Chemical Co 4.125% 15/11/2021

USD

7,544,000 Dow Chemical Co 4.375% 15/11/2042

USD

279,000 Dow Chemical Co 5.25% 15/11/2041

USD

402,000 Dow Chemical Co 7.375% 01/11/2029

USD

15,000 Dow Chemical Co 9.4% 15/05/2039

USD

741,000 Duke Energy Carolinas LLC 3.875% 15/03/2046 109,000 Duke Energy Carolinas LLC 5.3% 15/02/2040

USD

2,160,000 Duke Energy Corp 1.8% 01/09/2021

USD

7,779,000 Duke Energy Corp 2.65% 01/09/2026

USD

1,300,000 Duke Energy Corp 3.15% 15/08/2027

USD

3,339,000 Duke Energy Corp 3.75% 01/09/2046

USD

[130]



3,167 2,747 2,921 2,652

297 505

126 2,069 7,092 1,221 2,994 982

2,910

0.06

1,750,000 Eli Lilly & Co 3.95% 15/05/2047

1,758

0.03

2,780,000 Emera US Finance LP 3.55% 15/06/2026

2,642

0.05

USD

2,056,000 Emera US Finance LP 4.75% 15/06/2046

2,055

0.04

USD

1,413,000 Enable Midstream Partners LP 4.95% 15/05/2028

1,404

0.03

USD

2,769,000 Energy Transfer Partners LP 4.15% 01/10/2020

2,805

0.06

USD


4,495

0.09

USD


1,473

0.03

USD


177

0.00

USD


1,697

0.03

400,000 Energy Transfer Partners LP 6% 15/06/2048

426

0.01

USD


3,861

0.08

USD


0.14 0.01

4,030

0.08

USD

784,000 Energy Transfer Partners LP / Regency Energy Finance Corp 5.875% 01/03/2022

832

0.02

USD

757,000 Entergy Corp 2.95% 01/09/2026

700

0.01

0.01

USD

2,013,000 Enterprise Products Operating LLC 3.35% 15/03/2023

1,997

0.04

USD


2,211

0.04

USD


2,473

0.05

USD


1,122

0.02

USD


2,429

0.05

USD


122

0.00

0.00 0.04 0.14 0.02 0.06 0.02

0.07

USD

0.05

0.01

3,330

USD

0.06

713

0.01

0.01

0.05

0.00

304

0.06

0.06

23

0.03

2,930

USD 7,169

720,000 Eli Lilly & Co 2.75% 01/06/2025

0.01

1,348

3,052,000 Eli Lilly & Co 3.7% 01/03/2045

USD

0.01

USD

1,303,000 Ecolab Inc 4.35% 08/12/2021

287

691

0.05

USD

USD




Holding Investment

Fair value $'000

iSHARES PLC


Ccy

Holding Investment

Fair value $'000


Ccy



Corporate Bonds (cont) 3,774,000 Enterprise Products Operating LLC 4.85% 15/03/2044

3,867

0.08

USD


3,260

0.06

USD



908,000 EOG Resources Inc 2.625% 15/03/2023 3,147,000 EQT Corp 3% 01/10/2022 4,158,000 EQT Corp 3.9% 01/10/2027

2,153,000 FedEx Corp 4.05% 15/02/2048

USD

400,000 FedEx Corp 4.4% 15/01/2047

USD

1,959

0.04

383

0.01

3,592,000 FedEx Corp 4.55% 01/04/2046

3,511

0.07

USD

2,782,000 FedEx Corp 4.75% 15/11/2045

2,795

0.06

USD

2,879,000 FedEx Corp 5.1% 15/01/2044

3,031

0.06

0.07

USD

601,000 Fidelity National Information Services Inc 3% 15/08/2026

558

0.01

877

0.02

USD

3,044

0.06

5,162,000 Fidelity National Information Services Inc 5% 15/10/2025

5,468

0.11

USD


3,917

0.08

986

0.02

968

0.02

USD

1,500,000 EQT Midstream Partners LP 4.75% 15/07/2023

2,063,000 Fifth Third Bancorp 8.25% 01/03/2038

2,850

0.06

1,519

0.03

USD

1,500,000 EQT Midstream Partners LP 5.5% 15/07/2028

3,603,000 Fifth Third Bank 3.85% 15/03/2026

3,547

0.07

1,540

0.03

USD

700,000 ERP Operating LP 4.5% 01/07/2044

2,060,000 FirstEnergy Corp 3.9% 15/07/2027

2,023

0.04

720

0.01

USD

786,000 ERP Operating LP 4.625% 15/12/2021


2,748

0.05

814

0.02

USD


3,963

0.08

940,000 EQT Corp 4.875% 15/11/2021

2,172,000 Exelon Corp 3.4% 15/04/2026

2,092

0.04

USD

1,589,000 Exelon Corp 3.95% 15/06/2025

1,592

0.03

USD

7,021,000 Exelon Corp 4.45% 15/04/2046

6,930

0.14


USD

3,838,000 Expedia Group Inc 3.8% 15/02/2028^

USD

395,000 Expedia Group Inc 5% 15/02/2026

USD

USD

3,430

USD

USD




Holding Investment

Fair value $'000

1,313,000 Express Scripts Holding Co 3% 15/07/2023

USD

1,550,000 Express Scripts Holding Co 3.4% 01/03/2027

USD


USD


USD


USD


USD


USD

3,029,000 Exxon Mobil Corp 2.397% 06/03/2022

USD

4,400,000 Exxon Mobil Corp 2.709% 06/03/2025

USD

3,560,000 Exxon Mobil Corp 2.726% 01/03/2023

USD

4,405,000 Exxon Mobil Corp 3.043% 01/03/2026

USD

1,108,000 Exxon Mobil Corp 3.176% 15/03/2024

USD

1,000,000 Exxon Mobil Corp 3.567% 06/03/2045

USD

6,682,000 Exxon Mobil Corp 4.114% 01/03/2046^

325 3,603

USD


973

0.02

USD

1,195,000 Florida Power & Light Co 3.95% 01/03/2048

1,188

0.02

USD

2,858,000 Ford Motor Co 4.346% 08/12/2026

2,690

0.05

USD

3,271,000 Ford Motor Co 4.75% 15/01/2043

2,709

0.05

0.01 0.07

408

0.01

USD

4,060,000 Ford Motor Co 5.291% 08/12/2046

3,611

0.07

1,258

0.02

USD

2,200,000 Ford Motor Co 7.45% 16/07/2031

2,439

0.05

1,438 146 101 1,376 2,785 4,553 2,974 4,239 3,502 4,308 1,108 936 6,839

USD


550

0.01

USD


291

0.01

USD


629

0.01

USD

2,875,000 Ford Motor Credit Co LLC 3.336% 18/03/2021

2,824

0.06

USD


0.03 0.00 0.00 0.03

349

0.01

USD


2,980

0.06

USD

2,950,000 Ford Motor Credit Co LLC 3.815% 02/11/2027^

2,649

0.05

USD


0.06 0.09 0.06

4,288

0.08

USD


145

0.00

USD


0.08 0.07

2,578

0.05

USD


424

0.01

USD


2,691

0.05

USD


4,040

0.08

0.09 0.02 0.02 0.14


[131]

iSHARES PLC


Ccy

Holding Investment

Fair value $'000


Ccy



Corporate Bonds (cont) 339,000 Fortive Corp 3.15% 15/06/2026

USD

2,170,000 General Dynamics Corp 3.375% 15/05/2023

USD

2,565,000 General Dynamics Corp 3.5% 15/05/2025

USD USD

2,525,000 General Dynamics Corp 3.75% 15/05/2028 7,876,000 General Electric Co 2.7% 09/10/2022

USD

2,673,000 General Electric Co 3.1% 09/01/2023

USD


USD USD

4,176,000 General Electric Co 4.125% 09/10/2042 4,945,000 General Electric Co 4.5% 11/03/2044

USD


USD


USD USD USD USD

2,218,000 General Electric Co 6.15% 07/08/2037 5,200,000 General Electric Co 6.75% 15/03/2032 4,401,000 General Electric Co 6.875% 10/01/2039 802,000 General Mills Inc 3.15% 15/12/2021

318 2,179 2,586 2,563 7,681 2,638 1,032 3,832 4,805 4,477 6,788 2,602 6,415

USD

1,901,000 General Motors Financial Co Inc 3.2% 06/07/2021

USD


USD


USD


[132]


0.04


3,116

0.06

USD


1,626

0.03

USD


2,272

0.04

USD


2,269

0.04

USD

1,850,000 Georgia Power Co 4.3% 15/03/2042

1,787

0.04

USD


595

0.01

USD

2,482,000 Gilead Sciences Inc 2.95% 01/03/2027

2,326

0.05

USD


1,921

0.04

0.05 0.13 USD

5,560 796 3,775 1,853

3,830 1,241 2,567 2,579 2,653 2,515 1,875 3,533 4,256 3,087

26

0.00


6,824

0.13

USD


5,843

0.12

USD

1,112,000 Gilead Sciences Inc 4% 01/09/2036

1,070

0.02

USD


4,326

0.09

USD


2,628

0.05

USD


3,927

0.08

USD


316

0.01

USD


5,362

0.11

USD


3,883

0.08

USD


0.02 0.07 0.04

0.08 0.02 0.05 0.05 0.05 0.05 0.04 0.07 0.08 0.06


USD

0.11

0.03


1,780

USD

0.13

1,570

USD

0.02


0.09

0.03

2,423,000 General Motors Co 6.75% 01/04/2046

1,192

USD

0.09

1,527

USD

0.05


0.08



2,566

USD

0.02

USD

USD

0.07

2,700,000 General Motors Financial Co Inc 4% 06/10/2026

0.05



3,427

USD

0.15

USD

USD

0.04

3,532,000 General Motors Financial Co Inc 4% 15/01/2025

0.05

3,784,000 General Mills Inc 4% 17/04/2025

1,308,000 General Motors Co 5.4% 01/04/2048^

2,212

USD

0.05

1,860,000 General Mills Inc 4.2% 17/04/2028

USD

2,265,000 General Motors Financial Co Inc 3.95% 13/04/2024^

0.04

USD


USD 0.01

USD

USD




Holding Investment

Fair value $'000

1,301

0.03

USD


754

0.01

USD

2,091,000 GlaxoSmithKline Capital Inc 3.375% 15/05/2023

2,090

0.04

USD


2,621

0.05

USD


4,069

0.08

USD


5,283

0.10

iSHARES PLC


Ccy

Holding Investment

Fair value $'000


Ccy



Corporate Bonds (cont) 5,207,000 Goldman Sachs Group Inc 2.35% 15/11/2021

USD

5,650,000 Goldman Sachs Group Inc 2.876% 31/10/2022

USD


USD


USD USD

6,404,000 Goldman Sachs Group Inc 3% 26/04/2022 1,501,000 Goldman Sachs Group Inc 3.2% 23/02/2023




Holding Investment

Fair value $'000

5,038 5,528 3,207

0.10 0.11 0.06

282

0.01

6,286

0.12

1,473

0.03

USD

3,581,000 Halliburton Co 4.75% 01/08/2043

3,650

0.07

USD

2,785,000 Halliburton Co 4.85% 15/11/2035

2,918

0.06

USD

3,853,000 Halliburton Co 5% 15/11/2045

4,104

0.08

USD

534,000 Halliburton Co 6.7% 15/09/2038

USD

1,279,000 Halliburton Co 7.45% 15/09/2039

658

0.01

1,699

0.03 0.01

USD

534,000 HCP Inc 3.875% 15/08/2024

526

USD

270,000 HCP Inc 4% 01/06/2025

267

0.01

USD

2,526,000 HCP Inc 4.25% 15/11/2023

2,549

0.05

USD

2,992,000 Hess Corp 4.3% 01/04/2027

2,910

0.06

USD

1,915,000 Hess Corp 5.6% 15/02/2041

1,942

0.04

USD

25,000 Hess Corp 6% 15/01/2040

26

0.00

USD

1,498,000 Hewlett Packard Enterprise Co 4.4% 15/10/2022

1,540

0.03

USD


120

0.00

USD


2,308

0.05

USD


3,858

0.08

USD

4,201,000 Home Depot Inc 2% 01/04/2021

4,099

0.08

USD


USD


USD


USD


USD


6,109

0.12

USD

USD


3,061,000 Home Depot Inc 2.125% 15/09/2026

2,761

0.05

6,805

0.13

USD


3,586,000 Home Depot Inc 2.625% 01/06/2022

3,533

0.07

4,159

0.08

USD


1,564,000 Home Depot Inc 2.8% 14/09/2027

1,472

0.03

5,260

0.10

USD

2,957,000 Home Depot Inc 3% 01/04/2026

2,851

0.06

USD USD

5,909 4,079 4,791 4,380

0.12 0.08 0.09 0.09

USD


USD


USD

3,692,000 Goldman Sachs Group Inc 4% 03/03/2024

3,721

0.07

USD


1,394

0.03

USD


USD


USD


USD


USD


USD


USD


USD


USD USD USD

6,476 6,763

6,089 4,728 3,365 2,655 3,825 3,738 9,674 4,479

0.13 0.13

0.12 0.09 0.07 0.05 0.08 0.07

USD

861

0.02

USD

3,445,000 Home Depot Inc 3.9% 15/06/2047

3,343

0.07

USD

2,849,000 Home Depot Inc 4.2% 01/04/2043

2,871

0.06

USD

4,455,000 Home Depot Inc 4.25% 01/04/2046

4,524

0.09

USD

3,478,000 Home Depot Inc 4.4% 15/03/2045

3,601

0.07

USD

4,364,000 Home Depot Inc 5.875% 16/12/2036

5,362

0.11

USD

1,523,000 Home Depot Inc 5.95% 01/04/2041

1,905

0.04

USD

1,864,000 Honeywell International Inc 1.85% 01/11/2021

1,793

0.04

USD

4,862,000 Honeywell International Inc 2.5% 01/11/2026

4,526

0.09

USD

1,000,000 HP Inc 6% 15/09/2041

1,035

0.02

USD

975,000 HSBC Bank USA NA 5.625% 15/08/2035

1,093

0.02

USD

670,000 HSBC Bank USA NA 5.875% 01/11/2034

767

0.02

USD

120,000 HSBC USA Inc 3.5% 23/06/2024

118

0.00

0.19 0.09


7,228

0.14


15,023

0.30

2,649,000 Halliburton Co 3.8% 15/11/2025

2,643

0.05

841,000 Home Depot Inc 3.75% 15/02/2024

USD

1,800,000 Humana Inc 4.95% 01/10/2044

1,888

0.04

USD

3,974,000 Huntington Bancshares Inc 2.3% 14/01/2022

3,822

0.08

USD

1,545,000 IBM Credit LLC 2.2% 08/09/2022

1,484

0.03


[133]

iSHARES PLC


Ccy

Holding Investment

Fair value $'000


Ccy



Corporate Bonds (cont) 2,450,000 IBM Credit LLC 3% 06/02/2023

USD

1,300,000 Illinois Tool Works Inc 2.65% 15/11/2026

USD

270,000 Intel Corp 2.35% 11/05/2022

USD

4,106,000 Intel Corp 2.6% 19/05/2026

USD

270,000 Intel Corp 2.7% 15/12/2022

USD

2,053,000 Intel Corp 2.875% 11/05/2024

USD

110,000 Intel Corp 3.1% 29/07/2022

2,421 1,213 263

0.01 0.08

266

0.01

2,000

0.04

110

0.00

2,412,000 Intel Corp 3.15% 11/05/2027

2,345

0.05

USD

2,643,000 Intel Corp 3.3% 01/10/2021

2,668

0.05

USD

6,462,000 Intel Corp 3.7% 29/07/2025

6,546

0.13

USD

8,563,000 Intel Corp 3.734% 08/12/2047

8,019

0.16

USD

3,945,000 Intel Corp 4.1% 19/05/2046

3,947

0.08

USD

360,000 Intel Corp 4.1% 11/05/2047

USD

1,607,000 Intercontinental Exchange Inc 3.75% 01/12/2025

1,616

0.03

USD

205,000 Intercontinental Exchange Inc 3.75% 21/09/2028

205

0.00

365,000 Intercontinental Exchange Inc 4% 15/10/2023

375

0.01

0.01

USD

1,405,000 Intercontinental Exchange Inc 4.25% 21/09/2048

USD

2,531,000 International Business Machines Corp 1.875% 01/08/2022

2,404

0.05

USD


455

0.01

1,399

0.03

USD


USD


USD


2,562

0.05

USD


2,515

0.05

USD


USD

452,000 International Business Machines Corp 4% 20/06/2042

USD

2,206,000 International Lease Finance Corp 5.875% 15/08/2022

USD

3,460,000 International Paper Co 3% 15/02/2027

USD

3,653,000 International Paper Co 4.4% 15/08/2047

USD


USD

2,846,000 International Paper Co 4.8% 15/06/2044

USD

2,200,000 Jefferies Group LLC / Jefferies Group Capital Finance Inc 4.15% 23/01/2030

USD USD

[134]

1,589,000 JM Smucker Co 3.5% 15/03/2025 3,968,000 John Deere Capital Corp 2.8% 06/03/2023


826 148

5,078 439 2,351 3,191 3,368 200 2,798

2,002 1,542 3,893

1,700,000 Johnson & Johnson 2.25% 03/03/2022

1,663

0.03

USD

5,213,000 Johnson & Johnson 2.45% 01/03/2026

4,917

0.10

USD

1,250,000 Johnson & Johnson 2.625% 15/01/2025

1,217

0.02

USD

3,209,000 Johnson & Johnson 2.9% 15/01/2028^

3,081

0.06

USD

2,376,000 Johnson & Johnson 2.95% 03/03/2027

2,305

0.05

USD

1,852,000 Johnson & Johnson 3.4% 15/01/2038

1,744

0.03

USD

75,000 Johnson & Johnson 3.5% 15/01/2048

0.02

3,857

360

USD 0.05

USD

USD




Holding Investment

Fair value $'000

0.02 0.00

0.10 0.01 0.05 0.06 0.07 0.00 0.06

70

0.00

USD

2,638,000 Johnson & Johnson 3.55% 01/03/2036

2,556

0.05

USD

2,823,000 Johnson & Johnson 3.625% 03/03/2037

2,757

0.05

USD

6,353,000 Johnson & Johnson 3.7% 01/03/2046

6,153

0.12

USD

2,797,000 Johnson & Johnson 3.75% 03/03/2047

2,729

0.05

USD

499

0.01

USD

5,689,000 JPMorgan Chase & Co 2.295% 15/08/2021

5,544

0.11

USD


5,449

0.11

USD


2,124

0.04

USD


5

0.00

USD


4,062

0.08

USD


3,996

0.08

USD


6,271

0.12

USD


3,219

0.06

USD


2,167

0.04

USD


6,789

0.13

USD


6,462

0.13

USD


1,859

0.04

USD


6,029

0.12

USD


4,898

0.10

USD


1,443

0.03

USD


4,717

0.09

USD


4,195

0.08

0.04 0.03 0.08

460,000 Johnson & Johnson 4.375% 05/12/2033

iSHARES PLC


Ccy

Holding Investment

Fair value $'000


Ccy




USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD

2,624,000 Kinder Morgan Energy Partners LP 3.95% 01/09/2022

2,652

0.05

5,237

0.10

USD


1,560,000 Kinder Morgan Energy Partners LP 5.5% 01/03/2044

1,587

0.03

2,208

0.04

USD


7,009,000 Kinder Morgan Inc 4.3% 01/06/2025

7,073

0.14

4,270

0.08

USD



949

0.02

5,558

0.11

USD



1,954

0.04

5,029

0.10

USD

2,740,000 JPMorgan Chase & Co 3.897% 23/01/2049^


384

0.01

2,497

0.05

USD



7,495

0.15

5,841

0.12

USD


4,512,000 Kraft Heinz Foods Co 3% 01/06/2026

4,123

0.08

2,256

0.04

USD


7,395,000 Kraft Heinz Foods Co 3.5% 06/06/2022

7,362

0.15

4,125

0.08

USD



2,210

0.04

5,012

0.10

USD



100

0.00

4,044

0.08

USD



5,390

0.11

5,431

0.11

USD



921

0.02

4,827

0.10

USD



1,186

0.02

4,858

0.10

USD



3,464

0.07

5,648

0.11

USD



4,985

0.10

1,853

0.04

USD



2,777

0.05

1,319

0.03

USD



1,099

0.02

3,151

0.06

USD

1,940,000 Kroger Co 2.65% 15/10/2026

1,743

0.03

USD

3,139,000 Kroger Co 4.45% 01/02/2047^

2,915

0.06


4,108

0.08

USD


900,000 L3 Technologies Inc 3.85% 15/06/2023

905

0.02

2,250

0.04

USD


1,954,000 Laboratory Corp of America Holdings 3.6% 01/02/2025

1,912

0.04

2,790

0.06

USD


164

0.00

883

0.02

USD


2,218,000 Lockheed Martin Corp 2.9% 01/03/2025

2,124

0.04

4,733

0.09

USD

1,745,000 Kaiser Foundation Hospitals 4.15% 01/05/2047


2,519

0.05

1,774

0.04

USD

200

0.00


4,572

0.09

USD


1,359

0.03

USD


1,955

0.04

USD


882

0.02

4,945

0.10


211,000 Kellogg Co 3.25% 01/04/2026

USD

3,824,000 Keurig Dr Pepper Inc 4.057% 25/05/2023

USD

4,375,000 Keurig Dr Pepper Inc 4.597% 25/05/2028

USD

1,845,000 Keurig Dr Pepper Inc 5.085% 25/05/2048^

USD

USD


USD

USD




Holding Investment

Fair value $'000

300,000 KeyBank NA 3.3% 01/06/2025 65,000 KeyCorp 4.1% 30/04/2028

3,847 4,433

0.08 0.09

1,879

0.04

292

0.01

65

0.00

USD



[135]

iSHARES PLC


Ccy

Holding Investment

Fair value $'000


Ccy



Corporate Bonds (cont) 2,200,000 Lowe's Cos Inc 2.5% 15/04/2026

2,035

2,131,000 Lowe's Cos Inc 3.1% 03/05/2027

USD

1,321,000 Lowe's Cos Inc 3.375% 15/09/2025

1,304

0.03

USD

3,264,000 Lowe's Cos Inc 3.7% 15/04/2046

2,993

0.06

USD

2,457,000 Lowe's Cos Inc 4.05% 03/05/2047

USD

1,955,000 Lowe's Cos Inc 4.375% 15/09/2045

USD USD USD USD USD

1,143,000 Lowe's Cos Inc 4.65% 15/04/2042 505,000 M&T Bank Corp 3.55% 26/07/2023

2,043

2,386 1,985

0.04

0.05 0.04

1,751

0.03

25

0.00

1,358

0.03

USD USD

4,100,000 Merck & Co Inc 3.7% 10/02/2045

3,968

0.08

945 1,381 3,256 551

USD

571,000 MetLife Inc 4.05% 01/03/2045

USD

541

0.01

2,425,000 MetLife Inc 4.125% 13/08/2042

2,335

0.05

USD

2,293,000 MetLife Inc 4.368% 15/09/2023

2,389

0.05

USD

825,000 MetLife Inc 4.6% 13/05/2046

USD USD

3,931

0.08

2,550,000 MetLife Inc 5.7% 15/06/2035

2,941

0.06

143,000 MetLife Inc 5.875% 06/02/2041

170

0.00

USD

1,300,000 MetLife Inc 6.375% 15/06/2034

1,586

0.03

USD

4,645,000 Microsoft Corp 1.55% 08/08/2021

4,476

0.09

USD

1,217,000 Microsoft Corp 2% 08/08/2023

1,156

0.02

USD

4,549,000 Microsoft Corp 2.375% 12/02/2022

4,460

0.09

USD

2,719,000 Microsoft Corp 2.375% 01/05/2023

2,641

0.05

USD

3,703,000 Microsoft Corp 2.4% 06/02/2022

3,636

0.07

USD

9,082,000 Microsoft Corp 2.4% 08/08/2026

8,450

0.17

USD

3,640,000 Microsoft Corp 2.65% 03/11/2022

3,590

0.07

USD

5,325,000 Microsoft Corp 2.7% 12/02/2025

5,141

0.10

0.03

0.01

0.02

3,710,000 MetLife Inc 4.875% 13/11/2043

USD

0.02

0.06

850

USD

600,000 McCormick & Co Inc 2.7% 15/08/2022

4,196,000 Microsoft Corp 2.875% 06/02/2024

4,127

0.08

584

0.01

USD

1,200,000 McCormick & Co Inc 3.4% 15/08/2027

8,323,000 Microsoft Corp 3.125% 03/11/2025

8,191

0.16

1,145

0.02

USD

7,440,000 Microsoft Corp 3.3% 06/02/2027

7,365

0.15

USD

3,750,000 Microsoft Corp 3.45% 08/08/2036^

USD

684,000 McDonald's Corp 3.7% 30/01/2026 2,000,000 McDonald's Corp 3.8% 01/04/2028 260,000 McDonald's Corp 4.45% 01/03/2047

USD

1,783,000 McDonald's Corp 4.7% 09/12/2035

USD

6,010,000 McDonald's Corp 4.875% 09/12/2045

USD

0.05

USD

0.05

4,976,000 McDonald's Corp 3.5% 01/03/2027

USD

2,455

2,650

USD

USD

0.14

2,495,000 Merck & Co Inc 2.8% 18/05/2023

0.04

0.03

2,635,000 Mastercard Inc 3.375% 01/04/2024

7,327

USD

0.03

1,491

USD

7,602,000 Merck & Co Inc 2.75% 10/02/2025

1,841

1,147,000 Marathon Oil Corp 6.6% 01/10/2037

573,000 Mastercard Inc 2.95% 21/11/2026

0.02

USD

1,355

USD

USD

1,188

1,830,000 MetLife Inc 3.6% 10/04/2024


2,761,000 Marathon Petroleum Corp 6.5% 01/03/2041

0.18

1,221,000 Merck & Co Inc 2.4% 15/09/2022

USD

0.00

USD

8,949

USD

0.01

116

1,417,000 Marathon Petroleum Corp 4.75% 15/09/2044

0.11

8,422,000 Medtronic Inc 4.625% 15/03/2045

506

121,000 Manufacturers & Traders Trust Co 2.9% 06/02/2025

USD

5,772

USD

1,310,000 Merck & Co Inc 4.15% 18/05/2043

0.01


0.04

5,547,000 Medtronic Inc 4.375% 15/03/2035

USD

USD

USD

1,838

USD

0.02

541

25,000 Marathon Oil Corp 3.85% 01/06/2025

1,819,000 Medtronic Inc 3.625% 15/03/2024

1,203

573,000 Macy's Retail Holdings Inc 2.875% 15/02/2023


USD 0.04

USD

USD




Holding Investment

Fair value $'000

576,000 McDonald's Corp 6.3% 15/10/2037

4,855 682 1,989 259 1,862 6,304 700

3,598

0.07

USD

504,000 Microsoft Corp 3.5% 12/02/2035

487

0.01

USD

753,000 Microsoft Corp 3.5% 15/11/2042

706

0.01

1,381

0.03

0.10 0.01 0.04 0.01 0.04 0.12 0.01

USD USD

1,353,000 Microsoft Corp 3.625% 15/12/2023 10,922,000 Microsoft Corp 3.7% 08/08/2046

10,547

0.21

USD

2,403,000 Microsoft Corp 3.75% 12/02/2045

2,344

0.05

USD

3,714,000 Microsoft Corp 3.95% 08/08/2056

3,675

0.07

USD

5,205,000 Microsoft Corp 4% 12/02/2055

5,195

0.10

USD

5,750,000 Microsoft Corp 4.1% 06/02/2037^

5,974

0.12

USD

344,000 Microsoft Corp 4.2% 03/11/2035

USD

361

0.01

7,401,000 Microsoft Corp 4.25% 06/02/2047

7,788

0.15

USD

2,301,000 McDonald's Corp 6.3% 01/03/2038

2,787

0.06

USD

7,700,000 Microsoft Corp 4.45% 03/11/2045

8,348

0.16

USD

5,933,000 Medtronic Inc 3.15% 15/03/2022

5,914

0.12

USD

4,500,000 Microsoft Corp 4.5% 06/02/2057

4,916

0.10

USD

7,905,000 Medtronic Inc 3.5% 15/03/2025

7,898

0.16

USD

2,600,000 Microsoft Corp 4.75% 03/11/2055

2,945

0.06

[136]


iSHARES PLC


Ccy

Holding Investment

Fair value $'000


Ccy




1,130,000 Microsoft Corp 5.3% 08/02/2041

USD

5,038,000 Molson Coors Brewing Co 3% 15/07/2026

4,606

0.09

4,078,000 Molson Coors Brewing Co 4.2% 15/07/2046^

3,651

0.07

USD USD USD

2,613,000 Molson Coors Brewing Co 5% 01/05/2042 3,560,000 Morgan Stanley 2.5% 21/04/2021 234,000 Morgan Stanley 2.625% 17/11/2021

1,348

2,609 3,485 228

0.03

0.07 0.00

3,569,000 Morgan Stanley 2.75% 19/05/2022

USD

4,380,000 Morgan Stanley 3.125% 23/01/2023

USD

6,395,000 Morgan Stanley 3.125% 27/07/2026

USD

4,399,000 Morgan Stanley 3.591% 22/07/2028

4,192

0.08

USD

6,342,000 Morgan Stanley 3.625% 20/01/2027

6,110

0.12

3,477 4,299 5,982

0.07 0.08 0.12

USD

6,833,000 Morgan Stanley 3.7% 23/10/2024^

USD

3,355,000 Morgan Stanley 3.737% 24/04/2024

USD

3,947,000 Morgan Stanley 3.75% 25/02/2023

3,971

0.08

USD

3,883,000 Morgan Stanley 3.772% 24/01/2029

3,743

0.07

6,773 3,343

0.13 0.07

USD

5,642,000 Morgan Stanley 3.875% 29/04/2024

5,659

0.11

USD

7,768,000 Morgan Stanley 3.875% 27/01/2026

7,665

0.15

6,831,000 Morgan Stanley 3.95% 23/04/2027

USD

2,650,000 Morgan Stanley 3.971% 22/07/2038

USD

5,762,000 Morgan Stanley 4% 23/07/2025

6,579 2,485

0.13 0.05

5,775

0.11

922,000 Morgan Stanley 4.1% 22/05/2023

929

0.02

USD

5,861,000 Morgan Stanley 4.3% 27/01/2045

5,654

0.11

USD

4,434,000 Morgan Stanley 4.35% 08/09/2026

4,409

5,645,000 Morgan Stanley 4.375% 22/01/2047

USD

USD

2,745,000 MPLX LP 4.7% 15/04/2048

2,564

0.05

USD

4,598,000 MPLX LP 4.875% 01/12/2024

4,774

0.09

USD

2,284,000 MPLX LP 5.2% 01/03/2047

2,278

0.05

USD

1,525,000 Mylan Inc 4.55% 15/04/2028

1,489

0.03

USD

2,445,000 Mylan Inc 5.2% 15/04/2048

2,279

0.05

USD

5,557,000 National Oilwell Varco Inc 2.6% 01/12/2022

5,325

0.11

0.05

USD

USD




USD

Holding Investment

Fair value $'000

USD


356

0.01

USD

2,392,000 NBCUniversal Media LLC 2.875% 15/01/2023

2,342

0.05

USD

2,830,000 NBCUniversal Media LLC 4.45% 15/01/2043

2,728

0.05

USD


814

0.02

USD

3,836,000 Newell Brands Inc 3.85% 01/04/2023

3,768

0.07

USD


570

0.01

USD

4,559,000 Newell Brands Inc 5.5% 01/04/2046

4,369

0.09

USD

2,723,000 Newmont Mining Corp 3.5% 15/03/2022

2,709

0.05

USD

1,351,000 Newmont Mining Corp 4.875% 15/03/2042

1,332

0.03

USD


835

0.02

USD

2,524,000 NextEra Energy Capital Holdings Inc 3.55% 01/05/2027

2,451

0.05

USD

3,200,000 Nike Inc 2.375% 01/11/2026

2,934

0.06

USD

531,000 Nike Inc 3.875% 01/11/2045

516

0.01

USD

840,000 NiSource Inc 3.49% 15/05/2027

810

0.02

USD

60,000 NiSource Inc 3.95% 30/03/2048

55

0.00

3,468

0.07

335

0.01

3,185

0.06

USD

3,504,000 NiSource Inc 4.375% 15/05/2047

USD

321,000 NiSource Inc 4.8% 15/02/2044

USD

3,238,000 Noble Energy Inc 5.05% 15/11/2044

USD

174,000 Noble Energy Inc 5.25% 15/11/2043

175

0.00

USD

1,442,000 Noble Energy Inc 6% 01/03/2041

1,562

0.03

0.09

USD

6,447,000 Northrop Grumman Corp 2.55% 15/10/2022

6,247

0.12

5,510

0.11

USD

4,250,000 Morgan Stanley 4.457% 22/04/2039


3,419

0.07

4,238

0.08

USD

3,529,000 Morgan Stanley 4.875% 01/11/2022


2,343

0.05

3,670

0.07

USD

USD

2,176,000 Morgan Stanley 5% 24/11/2025^

2,263

0.04


6,331

0.13

USD

6,393,000 Morgan Stanley 5.5% 28/07/2021

6,764

0.13

USD

USD

4,000,000 Morgan Stanley 6.375% 24/07/2042


2,884

0.06

4,998

0.10

USD

1,946,000 Mosaic Co 4.25% 15/11/2023

1,973

0.04


965

0.02

USD

5,324,000 Novartis Capital Corp 2.4% 21/09/2022

5,162

0.10

USD


97

0.00

USD USD USD

USD USD

2,460,000 MPLX LP 4% 15/03/2028

2,373

0.05

USD

3,977,000 MPLX LP 4.125% 01/03/2027

3,892

0.08

USD

2,385,000 MPLX LP 4.5% 15/07/2023

2,454

0.05

USD

1,925,000 MPLX LP 4.5% 15/04/2038

1,799

0.04


[137]

iSHARES PLC


Ccy

Holding Investment

Fair value $'000


Ccy




USD USD USD




Holding Investment

Fair value $'000

USD

2,000,000 Pacific Gas & Electric Co 5.8% 01/03/2037

2,213

0.04

9,833

0.19


32

0.00

USD

5,644,000 Novartis Capital Corp 3.4% 06/05/2024

8,775,000 Pacific Gas & Electric Co 6.05% 01/03/2034

5,663

0.11

USD

54,000 Pepsi-Cola Metropolitan Bottling Co Inc 7% 01/03/2029

69

0.00

862

0.02

USD

1,395,000 PepsiCo Inc 1.7% 06/10/2021

1,344

0.03

USD

1,475,000 PepsiCo Inc 2% 15/04/2021

1,439

0.03

5,238

0.10

USD

2,433,000 PepsiCo Inc 2.25% 02/05/2022

2,365

0.05 0.07

857,000 Novartis Capital Corp 4% 20/11/2045 4,926,000 Novartis Capital Corp 4.4% 06/05/2044

USD

32,000 NVIDIA Corp 2.2% 16/09/2021

31

0.00

USD

3,700,000 PepsiCo Inc 2.75% 05/03/2022

3,667

USD

1,500,000 NVIDIA Corp 3.2% 16/09/2026

1,453

0.03

USD

790,000 PepsiCo Inc 2.75% 30/04/2025

757

0.02

USD

1,653,000 PepsiCo Inc 2.85% 24/02/2026

1,580

0.03

USD

3,187,000 PepsiCo Inc 3% 15/10/2027

3,050

0.06

USD

2,000,000 PepsiCo Inc 3.1% 17/07/2022

2,002

0.04

USD

5,900,000 PepsiCo Inc 3.45% 06/10/2046

5,352

0.11

USD

418,000 PepsiCo Inc 3.6% 01/03/2024

USD


364

0.01

USD

5,044,000 Occidental Petroleum Corp 3.4% 15/04/2026

4,985

0.10

USD


1,509

0.03

USD

4,621,000 Occidental Petroleum Corp 4.4% 15/04/2046^

4,742

0.09

USD


2,335

0.05

3,041,000 Omnicom Group Inc / Omnicom Capital Inc 3.6% 15/04/2026

2,930

0.06

USD USD USD

2,219,000 Omnicom Group Inc / Omnicom Capital Inc 3.625% 01/05/2022

2,210

0.04

USD

2,094,000 PepsiCo Inc 4% 05/03/2042

427

0.01

2,082

0.04

USD

915,000 PepsiCo Inc 4% 02/05/2047

908

0.02

USD

5,563,000 PepsiCo Inc 4.45% 14/04/2046

5,890

0.12

USD

2,705,000 Pfizer Inc 2.75% 03/06/2026

2,584

0.05

USD

2,978,000 Pfizer Inc 3% 15/06/2023

2,959

0.06

USD

2,995,000 Pfizer Inc 3% 15/12/2026

2,905

0.06

USD

1,592,000 Pfizer Inc 3.4% 15/05/2024

1,613

0.03

4,779,000 Oneok Partners LP 3.375% 01/10/2022

4,722

0.09

USD

3,543,000 Pfizer Inc 4.125% 15/12/2046

3,586

0.07

USD

7,491,000 Oracle Corp 1.9% 15/09/2021

7,251

0.14

USD

1,375,000 Pfizer Inc 4.3% 15/06/2043

1,414

0.03

USD

6,364,000 Oracle Corp 2.4% 15/09/2023

6,093

0.12

USD

USD

6,631,000 Oracle Corp 2.5% 15/05/2022

6,496

0.13

USD

USD

5,844,000 Oracle Corp 2.5% 15/10/2022

5,683

0.11

USD

USD

1,971,000 Oracle Corp 2.625% 15/02/2023

1,927

0.04

USD

8,343,000 Oracle Corp 2.65% 15/07/2026

7,784

0.15

USD

3,803,000 Oracle Corp 2.8% 08/07/2021

3,790

0.07

USD

2,696,000 Oracle Corp 2.95% 15/11/2024

2,621

0.05

USD

4,120,000 Oracle Corp 2.95% 15/05/2025^

3,983

0.08

USD

4,977,000 Oracle Corp 3.25% 15/11/2027

4,823

0.10

USD

2,506,000 Oracle Corp 3.4% 08/07/2024

2,503

0.05

USD

4,941,000 Oracle Corp 3.8% 15/11/2037

4,758

0.09

USD

570,000 Oracle Corp 3.85% 15/07/2036

554

0.01

USD

2,700,000 Oracle Corp 3.9% 15/05/2035

2,651

0.05

USD

7,692,000 Oracle Corp 4% 15/07/2046

7,410

0.15

USD

5,560,000 Oracle Corp 4% 15/11/2047^

5,367

0.11

USD

4,921,000 Oracle Corp 4.125% 15/05/2045

4,840

0.10

USD

3,700,000 Oracle Corp 4.3% 08/07/2034

3,817

0.08

USD

2,005,000 Oracle Corp 4.375% 15/05/2055

2,025

0.04

USD

6,000,000 Oracle Corp 5.375% 15/07/2040

6,942

0.14

USD USD

990,000 Oracle Corp 6.125% 08/07/2039 15,000 Oracle Corp 6.5% 15/04/2038

USD


USD


[138]


1,239 19 708 1,030

0.02 0.00 0.01 0.02

185,000 Pfizer Inc 4.4% 15/05/2044^

193

0.00

6,957

0.14


679

0.01

USD

3,621,000 Philip Morris International Inc 2.5% 22/08/2022

3,505

0.07

USD


2,522

0.05

USD


3,232

0.06

USD


1,516

0.03

USD


1,283

0.03

USD


1,112

0.02

USD


2,903

0.06

USD


3,126

0.06

USD


2,649

0.05

USD

2,525,000 Phillips 66 3.9% 15/03/2028^

2,502

0.05

USD

441,000 Phillips 66 4.3% 01/04/2022

USD

5,000,000 Pfizer Inc 7.2% 15/03/2039

454

0.01

6,277,000 Phillips 66 4.875% 15/11/2044

6,481

0.13

USD

445,000 Phillips 66 5.875% 01/05/2042

515

0.01

USD

2,668,000 Plains All American Pipeline LP / PAA Finance Corp 3.65% 01/06/2022

2,644

0.05

iSHARES PLC


Ccy

Holding Investment

Fair value $'000


Ccy




USD

2,458,000 Plains All American Pipeline LP / PAA Finance Corp 4.5% 15/12/2026^ 2,131,000 Plains All American Pipeline LP / PAA Finance Corp 4.65% 15/10/2025




Holding Investment

Fair value $'000

2,454

USD


736

0.01

USD

4,798,000 Reynolds American Inc 5.85% 15/08/2045

5,236

0.10

USD

2,054,000 Rockwell Collins Inc 3.2% 15/03/2024

0.05

1,988

0.04

2,157

0.04

USD

245,000 PNC Bank NA* 2.45% 28/07/2022


5,050

0.10

238

0.00

USD

1,925,000 PNC Bank NA* 2.55% 09/12/2021


3,101

0.06

1,880

0.04

USD

2,830,000 PNC Bank NA* 2.625% 17/02/2022

230,000 Rohm & Haas Co 7.85% 15/07/2029

298

0.01

2,766

0.05

USD

180,000 S&P Global Inc 4.4% 15/02/2026

186

0.00

USD

4,763,000 PNC Bank NA* 2.7% 01/11/2022

4,608

0.09

USD

USD

4,350,000 PNC Bank NA* 3.1% 25/10/2027

4,147

0.08

1,119,000 Sabine Pass Liquefaction LLC 4.2% 15/03/2028

1,090

0.02

USD

5,357,000 Sabine Pass Liquefaction LLC 5% 15/03/2027

USD USD USD

USD

960,000 PNC Bank NA* 3.25% 01/06/2025

939

0.02

5,498

0.11

USD

2,925,000 PNC Bank NA* 3.8% 25/07/2023

2,950

0.06

USD

USD

1,967,000 PNC Financial Services Group Inc* 3.15% 19/05/2027


2,167

0.04

1,886

0.04

USD


4,611

0.09


USD


1,998

0.04

USD

USD


4,278

0.08

3,010

0.06

USD

2,645,000 Precision Castparts Corp 2.5% 15/01/2023


2,707

0.05

2,559

0.05

USD


1,538

0.03

171

0.00

USD

1,858,000 salesforce.com Inc 3.25% 11/04/2023

1,855

0.04

4,285,000 salesforce.com Inc 3.7% 11/04/2028

USD USD


USD

3,396,000 Procter & Gamble Co 2.15% 11/08/2022

3,292

0.07

USD

USD


4,283

0.08

5,199

0.10

USD


3,000,000 Santander Holdings USA Inc 3.4% 18/01/2023

2,914

0.06

1,675

0.03

USD

3,317,000 Prudential Financial Inc 3.905% 07/12/2047


3,371

0.07

3,049

0.06

USD


1,899

0.04

0.01

USD

272

0.01

USD USD USD


USD

2,543,000 Prudential Financial Inc 4.6% 15/05/2044

USD


356 2,619

280,000 Sempra Energy 2.9% 01/02/2023

USD

1,944,000 Sempra Energy 3.25% 15/06/2027

1,823

0.04

USD

1,874,000 Sempra Energy 3.4% 01/02/2028

1,765

0.03

0.05

191

0.00

USD

1,780,000 Sempra Energy 3.8% 01/02/2038

1,638

0.03

USD

3,546,000 Qualcomm Inc 2.6% 30/01/2023

3,416

0.07

USD

2,068,000 Sempra Energy 4% 01/02/2048

1,881

0.04

USD

3,245,000 Qualcomm Inc 2.9% 20/05/2024

3,107

0.06

USD

USD

4,500,000 Qualcomm Inc 3% 20/05/2022

4,442

0.09

2,997,000 Sherwin-Williams Co 2.75% 01/06/2022

2,916

0.06

USD

4,543,000 Qualcomm Inc 3.25% 20/05/2027

4,278

0.08

USD

USD

3,000,000 Qualcomm Inc 3.45% 20/05/2025

2,920

0.06


USD

2,700,000 Qualcomm Inc 4.3% 20/05/2047^

2,531

0.05

USD

1,700,000 Qualcomm Inc 4.65% 20/05/2035

1,715

0.03

USD

2,726,000 Qualcomm Inc 4.8% 20/05/2045

2,739

0.05

USD

2,869,000 Raytheon Co 2.5% 15/12/2022

2,797

USD

1,946,000 Republic Services Inc 3.55% 01/06/2022 132,000 Republic Services Inc 3.95% 15/05/2028

USD USD USD

602

0.01

USD

3,709,000 Sherwin-Williams Co 4.5% 01/06/2047

3,590

0.07

USD

1,150,000 Simon Property Group LP 3.25% 30/11/2026

1,110

0.02

0.06

USD


3,769

0.07

1,957

0.04

USD


1,652

0.03

133

0.00

USD

3,024,000 Reynolds American Inc 4% 12/06/2022


1,718

0.03

3,060

0.06

4,942,000 Reynolds American Inc 4.45% 12/06/2025

5,012

0.10


[139]

iSHARES PLC


Ccy

Holding Investment

Fair value $'000


Ccy



Corporate Bonds (cont) 3,833,000 Southern California Edison Co 4% 01/04/2047

USD

1,455,000 Southern California Edison Co 4.125% 01/03/2048

USD

17,000 Southern California Edison Co 4.65% 01/10/2043

3,664 1,418 18

0.00

1,452

0.03

USD

7,616,000 Southern Co 3.25% 01/07/2026

7,150

0.14

4,874,000 Southern Co 4.4% 01/07/2046 3,219,000 Spectra Energy Partners LP 4.75% 15/03/2024

USD

250,000 Starbucks Corp 3.1% 01/03/2023

4,710

995,000 Target Corp 4% 01/07/2042

967

0.02

USD

2,115,000 TD Ameritrade Holding Corp 3.3% 01/04/2027

2,040

0.04

USD

2,445,000 Texas Instruments Inc 4.15% 15/05/2048

2,485

0.05

USD

2,700,000 Thermo Fisher Scientific Inc 2.95% 19/09/2026

2,517

0.05

USD

3,235,000 Thermo Fisher Scientific Inc 3% 15/04/2023

3,148

0.06

USD


2,634

0.05

USD


241

0.00

USD


0.03

1,496,000 Southern Co 2.35% 01/07/2021

USD

USD 0.07

USD USD




Holding Investment

Fair value $'000

0.09

3,342

0.07

247

0.00

USD

810,000 Starbucks Corp 3.5% 01/03/2028

784

0.02

1,510

0.03

USD

2,000,000 Starbucks Corp 3.8% 15/08/2025

2,001

0.04

USD

1,100,000 Thermo Fisher Scientific Inc 4.1% 15/08/2047^

1,055

0.02

6

0.00

USD

2,005

0.04


4,024

0.08

USD

3,421,000 Time Warner Cable LLC 4.5% 15/09/2042

2,895

0.06

USD


3,487

0.07

USD

6,000 Starbucks Corp 3.85% 01/10/2023

USD

2,000,000 Starbucks Corp 4% 15/11/2028

USD

2,000,000 Starbucks Corp 4.5% 15/11/2048

USD

2,696,000 State Street Corp 1.95% 19/05/2021

USD


USD


USD


USD

567,000 Stryker Corp 3.375% 01/11/2025

1,970 2,614 1,772 1,961

0.04 0.05 0.04 0.04

1,312

0.03

554

0.01

USD


758

0.02

USD


3,940

0.08

USD


3,411

0.07

USD


4,207

0.08

USD

2,812,000 Stryker Corp 3.5% 15/03/2026

2,734

0.05

USD

3,002,000 Stryker Corp 4.625% 15/03/2046

3,070

0.06

USD

USD

1,540,000 Sunoco Logistics Partners Operations LP 5.35% 15/05/2045

1,056,000 Time Warner Entertainment Co LP 8.375% 15/03/2023

1,231

0.02

1,485

0.03

USD

2,573,000 TJX Cos Inc 2.25% 15/09/2026

2,342

0.05

2,370,000 Sunoco Logistics Partners Operations LP 5.4% 01/10/2047

USD 2,328

0.05

798,000 Total System Services Inc 4.8% 01/04/2026

826

0.02

USD

2,655,000 Toyota Motor Credit Corp 2.6% 11/01/2022


2,634,000 SunTrust Bank 2.45% 01/08/2022 286,000 SunTrust Bank 3.3% 15/05/2026 2,770,000 SunTrust Banks Inc 2.7% 27/01/2022 705,000 SunTrust Banks Inc 4% 01/05/2025 1,085,000 Synchrony Bank 3% 15/06/2022 1,715,000 Synchrony Financial 3.95% 01/12/2027 4,692,000 Synchrony Financial 4.5% 23/07/2025 3,000 Sysco Corp 2.6% 01/10/2020 1,778,000 Sysco Corp 3.25% 15/07/2027

2,540

0.05

2,609

0.05

272

0.01

USD


3,581

0.07

2,703

0.05

USD


91

0.00

714

0.01

USD

1,044

0.02

4,700,000 Transcontinental Gas Pipe Line Co LLC 7.85% 01/02/2026

5,787

0.11

USD

1,937,000 Travelers Cos Inc 6.25% 15/06/2037

2,431

0.05

USD

3,680,000 Tyson Foods Inc 3.55% 02/06/2027

3,494

0.07

USD

2,365,000 Tyson Foods Inc 4.55% 02/06/2047

2,231

0.04

USD

2,525,000 Unilever Capital Corp 2.2% 05/05/2022

2,436

0.05

USD

2,615,000 Unilever Capital Corp 2.9% 05/05/2027

2,496

0.05

USD

2,651,000 Union Pacific Corp 3.799% 01/10/2051

2,360

0.05

USD


3,703

0.07

1,558 4,564

0.03 0.09

3

0.00

1,691

0.03

USD

400,000 Sysco Corp 3.3% 15/07/2026

386

0.01

USD

2,615,000 Target Corp 2.5% 15/04/2026

2,435

0.05

USD

3,164,000 Target Corp 3.5% 01/07/2024

3,207

0.06

USD

1,375,000 Target Corp 3.625% 15/04/2046

1,253

0.02

USD

1,575,000 Target Corp 3.9% 15/11/2047

1,502

0.03

[140]


iSHARES PLC


Ccy

Holding Investment

Fair value $'000


Ccy




USD USD USD USD USD USD USD USD USD USD USD

0.05

2,399

0.05

2,554

0.05

1,467

0.03

4,440

0.09

1,284

0.03

1,549

0.03

4,000,000 US Bancorp 2.625% 24/01/2022

3,921

0.08

USD

3,886,000 US Bancorp 2.95% 15/07/2022

3,819

0.08

USD

1,250,000 US Bancorp 3% 15/03/2022

1,241

0.02

1,135

0.02

USD

2,100,000 UnitedHealth Group Inc 3.85% 15/06/2028

455

0.01

USD

6,395,000 United Parcel Service Inc 3.05% 15/11/2027


6,141

0.12

USD



2,717

0.05

USD



918

0.02

USD



457

0.01

USD

1,156,000 United Technologies Corp 2.65% 01/11/2026


1,053

0.02

USD


315

0.01

USD

1,693,000 US Bancorp 2.375% 22/07/2026

USD

330,000 United Technologies Corp 2.8% 04/05/2024 5,189,000 United Technologies Corp 3.1% 01/06/2022

5,124


4,585

316


2,332


USD

2,427



USD

USD

0.04

USD


USD

2,121

0.04

USD

USD

0.00

2,207

0.10

0.05

USD

217



2,594

USD

0.17

USD


USD

8,540

0.04

0.02

USD

0.01

2,223

1,004

USD

754




USD

0.06

USD

USD

USD

3,160

0.00


USD


155

USD

USD

USD






Holding Investment

Fair value $'000

1,570

0.09

0.01 0.03

USD

640,000 US Bancorp 3.1% 27/04/2026

USD

610

0.01

2,435,000 US Bancorp 3.15% 27/04/2027

2,346

0.05

USD

1,500,000 US Bancorp 3.6% 11/09/2024

1,493

0.03

USD

230,000 US Bancorp 3.7% 30/01/2024

233

0.00

USD

537,000 US Bancorp 3.9% 26/04/2028

547

0.01

USD

1,283,000 US Bancorp 4.125% 24/05/2021

1,316

0.03

USD

4,400,000 US Bank NA 2.8% 27/01/2025

4,208

0.08

854

0.02

USD

870,000 US Bank NA 2.85% 23/01/2023

0.05

USD

1,375,000 US Bank NA/Cincinnati OH 3.4% 24/07/2023

1,376

0.03

664

0.01

USD

2,831,000 Valero Energy Corp 3.4% 15/09/2026

2,708

0.05

8,024

0.16

USD


2,016

0.04

567

0.01

USD


4,169

0.08

1,524

0.03

USD



79

0.00

237

0.00

USD


7,736,000 Verizon Communications Inc 3.376% 15/02/2025

7,527

0.15

428

0.01

USD



7,435

0.15

1,485

0.03

USD



764

0.02

3,833

0.08

USD



7,670

0.15

2,816

0.06

USD



3,176

0.06

2,504

0.05

USD



7,266

0.14

2,584

0.05

8,095,000 United Technologies Corp 4.5% 01/06/2042 560,000 United Technologies Corp 4.625% 16/11/2048 1,334,000 United Technologies Corp 5.7% 15/04/2040


[141]

iSHARES PLC


Ccy

Holding Investment

Fair value $'000


Ccy



Corporate Bonds (cont) 24,639,000 Verizon Communications Inc 4.329% 21/09/2028

USD


USD





Holding Investment

Fair value $'000

24,783 5,928 2,892

0.49 0.12 0.06

USD


USD


9,220

0.18

USD


2,132

0.04

8,943

0.18

USD

5,465,000 Walmart Inc 3.4% 26/06/2023^

5,528

0.11

USD

3,125,000 Walmart Inc 3.55% 26/06/2025

3,161

0.06

USD

5,521,000 Walmart Inc 3.625% 15/12/2047

5,220

0.10

USD

6,290,000 Walmart Inc 3.7% 26/06/2028

6,358

0.13

USD

3,820,000 Walmart Inc 3.95% 28/06/2038

3,858

0.08

USD

954,000 Walmart Inc 4% 11/04/2043

USD

7,515,000 Walmart Inc 4.05% 29/06/2048

USD

466,000 Walmart Inc 4.3% 22/04/2044

USD

2,255,000 Walmart Inc 5.25% 01/09/2035

954

0.02

7,596

0.15

488

0.01

2,628

0.05

USD

735,000 Walmart Inc 5.625% 01/04/2040

902

0.02

USD

100,000 Walmart Inc 6.2% 15/04/2038

130

0.00

USD

1,220,000 Walt Disney Co 1.85% 30/07/2026

1,078

0.02

USD

2,188,000 Walt Disney Co 2.35% 01/12/2022

2,109

0.04

USD

2,915,000 Walt Disney Co 3% 13/02/2026

2,815

0.06

0.13

USD

2,545,000 Walt Disney Co 4.125% 01/06/2044

2,521

0.05

10,237

0.20

USD


368

0.01

2,198

0.04

USD


4,684,000 Warner Media LLC 3.6% 15/07/2025

4,499

0.09

967

0.02

USD


4,171,000 Warner Media LLC 3.8% 15/02/2027

3,997

0.08

3,770

0.07

USD

USD

2,232,000 Viacom Inc 4.25% 01/09/2023

2,245

0.04

2,196,000 Warner Media LLC 4.75% 29/03/2021

2,267

0.04

USD

2,825,000 Viacom Inc 4.375% 15/03/2043

2,449

0.05

USD

USD

1,760,000 Viacom Inc 5.85% 01/09/2043

1,838

0.04

1,872,000 Warner Media LLC 4.85% 15/07/2045

1,750

0.03

USD

1,420,000 Waste Management Inc 3.15% 15/11/2027

1,348

0.03

USD


909

0.02

USD

244,000 Wells Fargo & Co 2.625% 22/07/2022

USD


USD


USD


6,746


USD USD USD USD

USD

3,428,000 Viacom Inc 6.875% 30/04/2036

USD

20,000 Virginia Electric & Power Co 3.15% 15/01/2026

4,803 9,358

3,887

0.09 0.18

0.08

378,000 Warner Media LLC 3.55% 01/06/2024

19

0.00

2,356,000 Visa Inc 2.75% 15/09/2027

2,221

0.04

USD

5,101,000 Visa Inc 2.8% 14/12/2022

5,036

0.10

236

0.00

USD

8,595,000 Visa Inc 3.15% 14/12/2025

8,426

0.17

USD

4,138,000 Wells Fargo & Co 3% 19/02/2025

3,942

0.08

USD

660,000 Visa Inc 3.65% 15/09/2047

627

0.01

USD

9,700,000 Wells Fargo & Co 3% 22/04/2026

9,097

0.18

USD

3,553,000 Visa Inc 4.15% 14/12/2035

3,721

0.07

USD

8,700,000 Wells Fargo & Co 3% 23/10/2026

8,131

0.16

USD

5,618,000 Visa Inc 4.3% 14/12/2045

5,908

0.12

USD

840

0.02

7,162,000 Wells Fargo & Co 3.069% 24/01/2023

7,003

0.14

USD

4,850,000 Wells Fargo & Co 3.3% 09/09/2024

4,738

0.09

USD

2,681,000 Wells Fargo & Co 3.45% 13/02/2023

USD

USD USD USD

868,000 VMware Inc 2.95% 21/08/2022 1,300,000 VMware Inc 3.9% 21/08/2027 168,000 Wachovia Corp 5.5% 01/08/2035^

1,232

0.02

184

0.00

2,643

0.05

USD

1,544,000 Walgreen Co 3.1% 15/09/2022

1,517

0.03

USD

USD

4,602,000 Walgreens Boots Alliance Inc 3.3% 18/11/2021

6,654,000 Wells Fargo & Co 3.5% 08/03/2022

6,670

0.13

4,586

0.09

USD


6,229,000 Wells Fargo & Co 3.55% 29/09/2025

6,109

0.12

2,957

0.06

USD


6,940,000 Wells Fargo & Co 3.584% 22/05/2028^

6,694

0.13

2,616

0.05

USD


4,245,000 Wells Fargo & Co 3.9% 01/05/2045^

3,962

0.08

3,525

0.07

USD

USD

4,105,000 Walmart Inc 2.35% 15/12/2022

3,984

0.08

4,200,000 Wells Fargo & Co 4.1% 03/06/2026

4,159

0.08

USD

5,554,000 Walmart Inc 2.55% 11/04/2023

5,416

0.11

USD

USD

1,473,000 Walmart Inc 2.65% 15/12/2024

1,419

0.03

1,250,000 Wells Fargo & Co 4.125% 15/08/2023

1,268

0.03

USD

3,620,000 Walmart Inc 3.3% 22/04/2024

3,625

0.07

USD

6,658,000 Wells Fargo & Co 4.3% 22/07/2027

6,668

0.13

USD USD USD

[142]


iSHARES PLC


Ccy

Fair value $'000

Holding Investment


Ccy



Corporate Bonds (cont) 5,245,000 Wells Fargo & Co 4.4% 14/06/2046

USD

4,816,000 Wells Fargo & Co 4.65% 04/11/2044

USD

1,735,000 Wells Fargo & Co 4.75% 07/12/2046

USD

5,147,000 Wells Fargo & Co 4.9% 17/11/2045

USD

2,500,000 Wells Fargo & Co 5.375% 07/02/2035

USD

4,851,000 Wells Fargo & Co 5.375% 02/11/2043

USD USD


USD


USD USD USD USD

4,954 4,710 1,725 5,211 2,814 5,209

5,500,000 Wells Fargo & Co 5.606% 15/01/2044

6,106 972 594

2,584,000 Weyerhaeuser Co 7.375% 15/03/2032

3,298

672,000 Williams Cos Inc 3.35% 15/08/2022 2,311,000 Williams Cos Inc 3.6% 15/03/2022 1,240,000 Williams Cos Inc 3.75% 15/06/2027

Currency

Amount Purchased

0.10

3,237,000 Williams Cos Inc 3.9% 15/01/2025

3,204

0.06

USD

2,757,000 Williams Cos Inc 4% 15/09/2025

2,726

0.05

USD

2,491,000 Williams Cos Inc 4.3% 04/03/2024

2,525

0.05

USD

1,366,000 Williams Cos Inc 4.85% 01/03/2048

1,342

0.03

USD

1,058,000 Williams Cos Inc 5.1% 15/09/2045

1,062

0.02

USD

978,000 Williams Cos Inc 6.3% 15/04/2040

0.03 0.10

1,115

0.02

USD

6,210,000 Wyeth LLC 5.95% 01/04/2037

7,559

0.15

USD

2,237,000 Xerox Corp 3.625% 15/03/2023

2,109

0.04

0.06 0.10 0.12 0.02 0.01 0.07 0.01

2,306

0.05

1,188

USD

0.09

661

USD


650

0.01

USD

5,048,000 Zimmer Biomet Holdings Inc 3.55% 01/04/2025

4,868

0.10

USD

690,000 Zoetis Inc 3% 12/09/2027

646

0.01

USD

354,000 Zoetis Inc 3.25% 01/02/2023

350

0.01

USD

760,000 Zoetis Inc 3.95% 12/09/2047

708

0.01

USD

589,000 Zoetis Inc 4.5% 13/11/2025

615

0.01

USD

1,856,000 Zoetis Inc 4.7% 01/02/2043

1,915

0.04

Total United States

4,139,126

81.73

Total bonds

4,949,790

97.74

0.02

Amount Sold

Currency

Holding Investment




Fair value $'000

Underlying Exposure ($)

Maturity date

Unrealised gain/(loss) $'000


Financial derivative instruments (28 February 2018: (0.02%)) Forward currency contracts** (28 February 2018: (0.02%)) EUR

67,928,050

USD

77,756,164

79,034,260

05/09/2018

1,278

0.03

EUR

27,220,555

USD

31,914,947

31,671,106

05/09/2018

(244)

(0.01)

GBP

9,769,452

USD

12,822,059

12,697,841

05/09/2018

(124)

0.00

GBP

2,993,480

USD

3,825,606

3,890,774

05/09/2018

65

0.00

USD

76,221,419

EUR

65,049,307

75,684,844

05/09/2018

537

0.01

USD

124,430

GBP

94,728

123,122

05/09/2018

1

0.00

1,881

0.04

Total unrealised losses on forward currency contracts

(368)

(0.01)

Net unrealised gains on forward currency contracts

1,513

0.03

Total unrealised gains on forward currency contracts


[143]

iSHARES PLC

Schedule of Investments (unaudited) (continued) iSHARES $ CORP BOND UCITS ETF (continued) As at 31 August 2018 Underlying exposure $'000

No. of Ccy contracts

Fair value $'000


Futures contracts (28 February 2018: Nil) USD

24 10 Year Treasury Note Futures December 2018

2,891

5

0.00

USD

34 Ultra Long U.S. Treasury Bond Futures December 2018

5,448

31

0.00

36

0.00

1,549

0.03

Fair value $'000


4,951,339

97.77

Cash†

59,561

1.18

Other net assets

53,492

1.05

5,064,392

100.00

Total unrealised gains on futures contracts Total financial derivative instruments

Total value of investments

Net asset value attributable to redeemable participating shareholders at the end of the financial period † Cash

holdings of $59,475,637 are held with State Street Bank and Trust Company. $84,922 is held as security for futures contracts with Barclays Bank Plc. ^ These securities are partially or fully transferred as securities lent. * Investment in related party. ** The counterparty for forward currency contracts is State Street Bank and Trust Company. All forwards relate to EUR Hedged (Dist) class and GBP Hedged (Dist) class forwards.

Fixed income securities are primarily classified by country of incorporation of the issuer for corporate fixed income securities. Underlying exposure has been calculated according to the guidelines issued by the ESMA and represents the market value of an equivalent position in the assets underlying each financial derivative instrument.


Fair value $'000



3,693,552

72.63


1,246,635

24.51

9,603

0.19

Other transferable securities of the type referred to in Regulation 68(1)(a), (b) and (c) Exchange traded financial derivative instruments

36

0.00

Over-the-counter financial derivative instruments

1,881

0.04

Other assets Total current assets

[144]


133,979

2.63

5,085,686

100.00

iSHARES PLC

Schedule of Investments (unaudited) (continued) iSHARES $ TREASURY BOND 1-3yr UCITS ETF As at 31 August 2018

Ccy

Holding Investment

Fair value $'000


Ccy


Government Bonds (cont) USD

64,194,400 United States Treasury Note/Bond 1.5% 31/05/2020^

62,981

1.75

USD


36,288

1.01

USD


78,458

2.19

USD


13,328

0.37

USD


63,572

1.77

USD


70,891

1.98

USD 0.84


22,812

0.64

3.50

USD 116,672,600 United States Treasury Note/Bond 1.625% 15/10/2020^

114,230

3.18

1.72


United States (28 February 2018: 99.45%) Government Bonds

USD USD

58,299,000 United States Treasury Note/Bond 0.75% 15/08/2019^ 40,480,000 United States Treasury Note/Bond 0.875% 15/09/2019^ 50,592,000 United States Treasury Note/Bond 1% 31/08/2019^

USD 261,030,300 United States Treasury Note/Bond 1% 15/10/2019^ USD


USD 130,270,000 United States Treasury Note/Bond 1.125% 28/02/2021^ USD


USD


USD




USD




USD


USD


USD


USD USD

19,858,400 United States Treasury Note/Bond 1.375% 31/05/2020^ 87,284,200 United States Treasury Note/Bond 1.375% 31/08/2020^

USD 108,695,600 United States Treasury Note/Bond 1.375% 30/09/2020^ USD 130,370,000 United States Treasury Note/Bond 1.375% 31/01/2021^

57,368 39,817 49,861 256,717 30,029 125,441 61,880

1.60 1.11 1.39 7.15

98,015

2.73

1.89


90,350

2.52

0.63


USD 67,736 22,738 111,790 47,285 46,568 181,221 83,916 97,945 90,184 67,012 19,440 85,160 105,931 126,454



Bonds (28 February 2018: 99.45%)

USD

Holding Investment

Fair value $'000

173,531

4.83

USD


66,798

1.86

USD


28,101

0.78

USD


98,291

2.74

USD


26,721

0.74

USD


71,076

1.98

USD


98,418

2.74

USD


48,375

1.35

USD


47,471

1.32

USD


86,446

2.41

USD


68,831

1.92

USD


13,637

0.38

USD


3.11 1.32 1.30 5.05 2.34 2.73 2.51 1.87 0.54 2.37 2.95 3.52

USD


27,084

0.75

USD


86,673

2.41

USD


27,143

0.76

USD


53,776

1.50

USD


31,643

0.88

83,883

2.34

Total United States

3,563,316

99.27

Total bonds

3,563,316

99.27


[145]

iSHARES PLC

Schedule of Investments (unaudited) (continued) iSHARES $ TREASURY BOND 1-3yr UCITS ETF (continued) As at 31 August 2018 Amount Purchased

Currency

Currency

Amount Sold

Underlying Exposure ($)

Maturity date

Unrealised gain/(loss) $’'000


Financial derivative instruments (28 February 2018: Nil) Forward currency contracts* (28 February 2017: Nil) EUR

31,142,912

USD

36,517,856

36,234,766

05/09/2018

(283)

0.00

EUR

5,924,080

USD

6,831,542

6,892,665

05/09/2018

61

0.00

GBP

21,840,763

USD

28,689,153

28,387,522

05/09/2018

(301)

(0.01)

GBP

99,786

USD

127,414

129,697

05/09/2018

2

0.00

MXN

200,000

USD

10,401

10,415

02/10/2018

-

0.00

USD

328,021

EUR

283,216

329,522

05/09/2018

(2)

0.00

USD

26,423

EUR

22,527

26,210

05/09/2018

-

0.00

USD

838,993

GBP

639,503

831,194

05/09/2018

8

0.00

USD

817,556

GBP

637,882

829,087

05/09/2018

(12)

0.00

Total unrealised gains on forward currency contracts

71

0.00

Total unrealised losses on forward currency contracts

(598)

(0.01)

Net unrealised losses on forward currency contracts

(527)

(0.01)


(527)

(0.01)

Fair value $'000


3,562,789

99.26

Cash†

11,655

0.32

Other net assets

14,960

0.42

3,589,404

100.00


Net asset value attributable to redeemable participating shareholders at the end of the financial period † Substantially

all cash positions are held with State Street Bank and Trust Company. ^These securities are partially or fully transferred as securities lent. * The counterparty for forward currency contracts is State Street Bank and Trust Company. All forward currency contracts relate to the EUR Hedged (Acc) , GBP Hedged (Dist) and MXN Hedged (Acc) classes.

Fixed income securities are primarily classified by country of issuer for government type fixed income securities. Underlying exposure has been calculated according to the guidelines issued by the ESMA and represents the market value of an equivalent position in the assets underlying each financial derivative instrument.


Fair value $'000



3,563,316

98.52

71

0.00

Over-the-counter financial derivative instruments Other assets Total current assets

[146]


53,610

1.48

3,616,997

100.00

iSHARES PLC

Schedule of Investments (unaudited) (continued) iSHARES € CORP BOND LARGE CAP UCITS ETF As at 31 August 2018

Ccy

Holding Investment

Fair value €'000


Ccy


Corporate Bonds (cont) EUR


2,530

0.07

EUR


2,536

0.07

EUR


1,756

0.05

EUR


4,014

0.11

EUR


Corporate Bonds EUR EUR

2,525,000 BHP Billiton Finance Ltd 1.5% 29/04/2030^ 3,350,000 BHP Billiton Finance Ltd 2.25% 25/09/2020

2,527 3,503

0.07 0.10

EUR

1,150,000 BHP Billiton Finance Ltd 3% 29/05/2024^

EUR

2,250,000 BHP Billiton Finance Ltd 3.125% 29/04/2033

2,656

0.07

2,350,000 BHP Billiton Finance Ltd 3.25% 24/09/2027^

2,754

0.07

EUR EUR EUR EUR EUR EUR EUR EUR

2,775,000 Commonwealth Bank of Australia 0.5% 11/07/2022 3,000,000 Commonwealth Bank of Australia 1.125% 18/01/2028 2,220,000 Commonwealth Bank of Australia 4.375% 25/02/2020 2,000,000 Commonwealth Bank of Australia 5.5% 06/08/2019

1,299

0.04

Total Australia

2,786 2,966 2,370 2,100

0.08 0.08 0.06 0.06 0.02


1,699

0.05


1,610

0.04


EUR

3,746,000 National Australia Bank Ltd 1.25% 18/05/2026^

EUR

3,691,000 National Australia Bank Ltd 2% 12/11/2020

3,855

0.10

EUR


5,071

0.14

3,233 3,804

0.09 0.10

EUR

1,800,000 National Australia Bank Ltd 4% 13/07/2020

EUR

3,650,000 National Australia Bank Ltd 4.625% 10/02/2020^

EUR

1,850,000 Telstra Corp Ltd 1.125% 14/04/2026

1,841

0.05

EUR

4,100,000 Telstra Corp Ltd 2.5% 15/09/2023

4,493

0.12

1,937 3,884

0.05 0.11

EUR

2,250,000 Telstra Corp Ltd 3.5% 21/09/2022

EUR

1,450,000 Telstra Corp Ltd 3.625% 15/03/2021

EUR

2,950,000 Telstra Corp Ltd 3.75% 16/05/2022

3,321

0.09

EUR

3,750,000 Telstra Corp Ltd 4.25% 23/03/2020

4,006

0.11


2.23

Corporate Bonds 2,785,000 OMV AG 1% 14/12/2026

2,775

0.08

EUR

2,050,000 OMV AG 1.75% 25/11/2019

2,096

0.06

EUR

1,600,000 OMV AG 2.625% 27/09/2022

1,752

0.05

EUR

3,200,000 OMV AG 3.5% 27/09/2027

3,811

0.10

EUR

1,002,000 OMV AG 4.25% 12/10/2021

1,133

0.03

EUR

1,760,000 OMV AG 4.375% 10/02/2020

1,873

0.05

13,440

0.37

Belgium (28 February 2018: 2.06%)

EUR

EUR

0.04

EUR

Total Austria 599

750,000 Toyota Finance Australia Ltd 0.5% 06/04/2023^

1,343 81,656

Austria (28 February 2018: 0.35%)


EUR


Australia (28 February 2018: 2.17%) (cont)


Holding Investment

Fair value €'000

2,534 1,581

0.07 0.04

752

0.02

2,296

0.06

Corporate Bonds EUR

8,079,000 Anheuser-Busch InBev SA/NV 0.625% 17/03/2020

8,170

0.22

EUR


2,810

0.08

EUR


7,056

0.19

EUR

6,175,000 Anheuser-Busch InBev SA/NV 1.15% 22/01/2027^

6,126

0.17

EUR


8,038

0.22

EUR


4,186

0.11

EUR


1,269

0.03

EUR

3,450,000 Anheuser-Busch InBev SA/NV 2% 16/12/2019

3,539

0.10

EUR

8,029,000 Anheuser-Busch InBev SA/NV 2% 17/03/2028^

8,398

0.23

EUR

2,750,000 Anheuser-Busch InBev SA/NV 2% 23/01/2035^

2,641

0.07

EUR


2,879

0.08

EUR


3,864

0.11

EUR


9,177

0.25

EUR


3,381

0.09


[147]

iSHARES PLC

Schedule of Investments (unaudited) (continued) iSHARES € CORP BOND LARGE CAP UCITS ETF (continued) As at 31 August 2018

Ccy

Holding Investment

Fair value €'000


Ccy




EUR


Finland (28 February 2018: 0.38%) (cont)

Belgium (28 February 2018: 2.06%) (cont) EUR

Holding Investment

Fair value €'000

EUR

3,250,000 OP Corporate Bank Plc 0.75% 03/03/2022


3,307

0.09

1,155

0.03

EUR



2,301

0.06

1,186

0.03

EUR

73,875

2.01

2,514,000 OP Corporate Bank Plc 2% 03/03/2021

2,643

0.07

EUR


Total Belgium Canada (28 February 2018: 0.30%)

Total Finland

2,291

0.06

13,311

0.36

Corporate Bonds EUR


2,177

0.06

EUR


2,180

0.06

EUR

5,000,000 Total Capital Canada Ltd 2.125% 18/09/2029^

4,300,000 Air Liquide Finance SA 0.125% 13/06/2020

4,321

0.12

5,458

0.15

EUR

9,815

0.27


EUR

Total Canada

France (28 February 2018: 22.67%) Corporate Bonds

Cayman Islands (28 February 2018: 0.47%)

1,725

0.05

EUR

600,000 Air Liquide Finance SA 0.75% 13/06/2024^

610

0.02

EUR

700,000 Air Liquide Finance SA 1% 08/03/2027

706

0.02

EUR

1,800,000 Air Liquide Finance SA 1.25% 03/06/2025^

1,873

0.05

EUR

3,100,000 Air Liquide Finance SA 1.25% 13/06/2028^

3,160

0.09

EUR


2,165

0.06

EUR


2,135

0.06

EUR

3,500,000 APRR SA 1.125% 09/01/2026

3,562

0.10

EUR

2,600,000 APRR SA 1.5% 15/01/2024

2,732

0.07

EUR

2,800,000 APRR SA 1.5% 17/01/2033^

2,769

0.08

EUR

1,400,000 APRR SA 1.625% 13/01/2032

1,421

0.04

EUR

2,800,000 APRR SA 1.875% 15/01/2025

2,999

0.08

Corporate Bonds EUR

1,775,000 CK Hutchison Europe Finance 18 Ltd 1.25% 13/04/2025

EUR

1,525,000 CK Hutchison Europe Finance 18 Ltd 2% 13/04/2030

EUR

3,775,000 CK Hutchison Finance 16 II Ltd 0.875% 03/10/2024

EUR

4,842,000 CK Hutchison Finance 16 Ltd 1.25% 06/04/2023

EUR

1,883,000 CK Hutchison Finance 16 Ltd 2% 06/04/2028

EUR

EUR

1,250,000 Hutchison Whampoa Europe Finance 12 Ltd 3.625% 06/06/2022 4,593,000 Hutchison Whampoa Finance 14 Ltd 1.375% 31/10/2021 Total Cayman Islands

1,757 1,498 3,722 4,928 1,900

1,397

0.05 0.04 0.10 0.13 0.05

0.04

4,735

0.13

EUR

19,937

0.54

EUR

628

0.02

2,300,000 APRR SA 2.25% 16/01/2020

2,374

0.06

EUR

1,900,000 Autoroutes du Sud de la France SA 1% 13/05/2026

1,902

0.05

EUR

1,900,000 Autoroutes du Sud de la France SA 1.125% 20/04/2026

Denmark (28 February 2018: 0.31%) Corporate Bonds EUR EUR EUR EUR EUR

5,400,000 Danske Bank A/S 0.25% 28/11/2022

1,923

0.05

5,360

0.15

EUR

4,000,000 Danske Bank A/S 0.5% 06/05/2021

2,300,000 Autoroutes du Sud de la France SA 1.25% 18/01/2027^

2,334

0.06

4,048

0.11

EUR

650,000 Danske Bank A/S 0.75% 04/05/2020

600,000 Autoroutes du Sud de la France SA 1.375% 27/06/2028

602

0.02

660

0.02

EUR

2,000,000 Danske Bank A/S 0.75% 02/06/2023

2,700,000 Autoroutes du Sud de la France SA 1.375% 22/01/2030^

2,678

0.07

2,017

0.05

EUR

1,675,000 Danske Bank A/S 0.875% 22/05/2023


3,000

0.08

1,667

0.04

EUR

13,752

0.37


2,809

0.08

EUR


2,885

0.08

EUR


6,768

0.18

EUR

4,200,000 Banque Federative du Credit Mutuel SA 0.375% 13/01/2022

4,216

0.11

EUR


3,003

0.08

Total Denmark Finland (28 February 2018: 0.38%) Corporate Bonds EUR


EUR

825,000 OP Corporate Bank Plc 0.375% 29/08/2023

[148]

600,000 APRR SA 1.875% 06/01/2031^


1,952 817

0.06 0.02

iSHARES PLC


Ccy

Holding Investment

Fair value €'000


Ccy




EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR

3,207

0.09

0.12

EUR


3,450,000 BNP Paribas SA 1.625% 23/02/2026

3,627

0.10

4,813

0.13

EUR


4,142,000 BNP Paribas SA 2.25% 13/01/2021

4,367

0.12

3,413

0.09

EUR


1,525,000 BNP Paribas SA 2.25% 11/01/2027^

1,534

0.04

2,011

0.05

EUR


3,600,000 BNP Paribas SA 2.375% 20/05/2024

3,943

0.11

4,483

0.12

EUR


4,563,000 BNP Paribas SA 2.375% 17/02/2025^

4,694

0.13

1,034

0.03

EUR


3,000,000 BNP Paribas SA 2.75% 27/01/2026^

3,142

0.09

2,342

0.06

EUR


3,580,000 BNP Paribas SA 2.875% 24/10/2022

3,947

0.11

3,969

0.11

EUR


8,353,000 BNP Paribas SA 2.875% 26/09/2023

9,315

0.25

1,601

0.04

EUR


3,000,000 BNP Paribas SA 2.875% 01/10/2026

3,164

0.09

3,410

0.09

EUR


6,820,000 BNP Paribas SA 3.75% 25/11/2020

7,403

0.20

5,750

0.16

EUR


3,950,000 BNP Paribas SA 4.125% 14/01/2022

4,471

0.12

1,845

0.05

EUR

3,900,000 Banque Federative du Credit Mutuel SA 3% 28/11/2023

50,000 BNP Paribas SA 4.5% 21/03/2023

59

0.00

4,388

0.12

EUR


1,800,000 Bouygues SA 1.375% 07/06/2027^

1,805

0.05

3,633

0.10

EUR


2,900,000 Bouygues SA 3.625% 16/01/2023

3,298

0.09

2,671

0.07

EUR

3,700,000 Banque Federative du Credit Mutuel SA 3.25% 23/08/2022^

2,800,000 Bouygues SA 3.641% 29/10/2019

2,917

0.08

4,132

0.11

EUR

3,050,000 Bouygues SA 4.25% 22/07/2020

3,293

0.09

EUR

2,700,000 Bouygues SA 4.5% 09/02/2022

3,089

0.08

EUR

1,600,000 BPCE SA 0.375% 05/10/2023

1,586

0.04

EUR

3,000,000 BPCE SA 0.625% 20/04/2020

3,039

0.08

EUR

2,900,000 BPCE SA 0.875% 31/01/2024

2,851

0.08

EUR

3,400,000 BPCE SA 1% 05/10/2028

3,331

0.09

EUR

4,500,000 BPCE SA 1.125% 18/01/2023

4,532

0.12

EUR

2,100,000 BPCE SA 1.375% 23/03/2026

2,059

0.06

EUR

2,300,000 BPCE SA 1.625% 31/01/2028

2,264

0.06

EUR

3,500,000 BPCE SA 2.125% 17/03/2021

3,692

0.10

EUR

3,200,000 BPCE SA 2.875% 16/01/2024

3,584

0.10

EUR

2,300,000 BPCE SA 2.875% 22/04/2026^

2,423

0.07

EUR

2,300,000 BPCE SA 3% 19/07/2024

2,609

0.07

EUR

2,200,000 BPCE SA 4.25% 06/02/2023

2,572

0.07

EUR

1,200,000 BPCE SA 4.5% 10/02/2022^

1,381

0.04

EUR

3,800,000 BPCE SA 4.625% 18/07/2023^

4,380

0.12

EUR

1,765,000 Carrefour SA 0.75% 26/04/2024^

1,740

0.05

EUR

400,000 Carrefour SA 0.875% 12/06/2023

400

0.01

EUR

2,049,000 Carrefour SA 1.25% 03/06/2025^

2,053

0.06

EUR

2,426,000 Carrefour SA 1.75% 15/07/2022

2,537

0.07

EUR

3,634,000 Carrefour SA 3.875% 25/04/2021

3,990

0.11


3,194

0.09


4,429

0.12

2,500,000 BNP Paribas Cardif SA 1% 29/11/2024 2,600,000 BNP Paribas SA 0.5% 01/06/2022

2,391 2,620

0.07 0.07

3,881

0.11

EUR

1,050,000 BNP Paribas SA 1% 17/04/2024

1,036

0.03

EUR EUR EUR

3,100,000 BNP Paribas SA 1.5% 25/05/2028^

4,337

3,825,000 BNP Paribas SA 0.75% 11/11/2022

EUR

EUR


EUR

EUR


France (28 February 2018: 22.67%) (cont)

France (28 February 2018: 22.67%) (cont) EUR

Holding Investment

Fair value €'000

2,450,000 BNP Paribas SA 1% 27/06/2024 3,573,000 BNP Paribas SA 1.125% 15/01/2023 4,525,000 BNP Paribas SA 1.125% 10/10/2023 3,500,000 BNP Paribas SA 1.125% 11/06/2026 2,500,000 BNP Paribas SA 1.25% 19/03/2025

EUR

3,800,000 BNP Paribas SA 1.5% 17/11/2025

EUR

3,025,000 BNP Paribas SA 1.5% 23/05/2028

2,408 3,679 4,532 3,350 2,461 3,778 2,922

0.07 0.10 0.12 0.09 0.07 0.10 0.08


[149]

iSHARES PLC


Ccy

Holding Investment

Fair value €'000


Ccy


Holding Investment

Fair value €'000






EUR

3,300,000 Danone SA 2.25% 15/11/2021

3,518

0.10

EUR

2,800,000 Danone SA 2.6% 28/06/2023

3,103

0.08

EUR

2,600,000 Danone SA 3.6% 23/11/2020

2,814

0.08

EUR

3,572,000 Carrefour SA 4% 09/04/2020

EUR

1,700,000 Cie de Saint-Gobain 1% 17/03/2025

1,694

0.05

EUR

2,300,000 Cie de Saint-Gobain 1.125% 23/03/2026^

5,000,000 Electricite de France SA 1% 13/10/2026

4,914

0.13

2,266

0.06

EUR

3,100,000 Cie de Saint-Gobain 1.375% 14/06/2027^

2,100,000 Electricite de France SA 1.875% 13/10/2036^

1,914

0.05

3,065

0.08

EUR

2,700,000 Cie de Saint-Gobain 3.625% 15/06/2021

3,900,000 Electricite de France SA 2.25% 27/04/2021

4,135

0.11

2,963

0.08

EUR



6,075

0.17

1,957

0.05

EUR



7,096

0.19

3,672

0.10

EUR

2,450,000 Electricite de France SA 4% 12/11/2025

2,941

0.08

EUR


3,897

0.11

EUR


3,570

0.10

EUR


9,219

0.25

EUR


4,957

0.13

EUR


5,428

0.15

EUR


4,073

0.11

EUR


7,246

0.20

EUR

1,000,000 Engie SA 0.375% 28/02/2023

1,000

0.03

EUR

3,000,000 Engie SA 0.5% 13/03/2022

3,039

0.08

EUR

2,000,000 Engie SA 0.875% 27/03/2024

2,032

0.06

EUR

2,600,000 Engie SA 1% 13/03/2026

2,629

0.07

EUR

3,200,000 Engie SA 1.375% 19/05/2020

3,280

0.09

EUR

1,000,000 Engie SA 1.375% 22/06/2028^

1,010

0.03

EUR

2,000,000 Engie SA 1.375% 28/02/2029

2,012

0.05

EUR

700,000 Engie SA 1.5% 27/03/2028

723

0.02

EUR

1,700,000 Engie SA 1.5% 13/03/2035

1,664

0.05

EUR

3,300,000 Engie SA 2% 28/09/2037

3,321

0.09

EUR

5,100,000 Engie SA 2.375% 19/05/2026

5,655

0.15

EUR

2,780,000 Engie SA 3% 01/02/2023

3,106

0.08

EUR

2,260,000 Engie SA 3.5% 18/10/2022^

2,562

0.07

EUR

3,159,000 Engie SA 6.375% 18/01/2021

3,641

0.10

EUR

4,000,000 Gecina SA 1.375% 30/06/2027

3,959

0.11

EUR

1,000,000 Gecina SA 1.375% 26/01/2028^

EUR

4,500,000 Gecina SA 1.625% 14/03/2030

EUR EUR EUR EUR EUR EUR

900,000 Cie Financiere et Industrielle des Autoroutes SA 0.375% 07/02/2025

3,802

875

0.10

0.02

EUR

2,300,000 Cie Financiere et Industrielle des Autoroutes SA 0.75% 09/09/2028

EUR

2,300,000 Cie Financiere et Industrielle des Autoroutes SA 1.125% 13/10/2027^

2,284

0.06

4,200,000 Cie Financiere et Industrielle des Autoroutes SA 5% 24/05/2021

4,770

0.13

3,100,000 Credit Agricole SA 0.75% 01/12/2022

3,147

0.09


5,009

0.14

2,500,000 Credit Agricole SA 1% 16/09/2024

2,542

0.07


4,471

0.12

EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR

2,500,000 Credit Agricole SA 1.375% 13/03/2025 4,700,000 Credit Agricole SA 1.375% 03/05/2027 4,200,000 Credit Agricole SA 1.875% 20/12/2026

2,175

2,487 4,778 4,236

0.06

0.07 0.13 0.12


4,117

0.11


5,901

0.16

6,315,000 Credit Agricole SA 2.625% 17/03/2027^

6,515

0.18


4,166

0.11


3,348

0.09


2,782

0.08


5,112

0.14

EUR

EUR

300,000 Danone SA 0.167% 03/11/2020

302

0.01

EUR

2,900,000 Danone SA 0.424% 03/11/2022^

2,922

0.08

EUR

4,300,000 Danone SA 0.709% 03/11/2024

4,319

0.12

EUR

2,100,000 Danone SA 1.125% 14/01/2025^

2,152

0.06

EUR

4,800,000 Danone SA 1.208% 03/11/2028^

4,797

0.13

EUR

1,800,000 Danone SA 1.25% 30/05/2024

1,872

0.05

[150]


900,000 Gecina SA 2% 30/06/2032

978

0.03

4,355

0.12

881

0.02

EUR

1,000,000 HSBC France SA 0.6% 20/03/2023

1,005

0.03

EUR

1,500,000 HSBC France SA 0.625% 03/12/2020

1,524

0.04

EUR

1,600,000 HSBC France SA 1.375% 04/09/2028

1,597

0.04

EUR

2,000,000 HSBC France SA 1.875% 16/01/2020

2,058

0.06

iSHARES PLC


Ccy

Holding Investment

Fair value €'000


Ccy



Corporate Bonds (cont) 1,900,000 Klepierre SA 1% 17/04/2023

EUR

1,900,000 Klepierre SA 1.25% 29/09/2031^

EUR

1,700,000 Klepierre SA 1.375% 16/02/2027^

EUR

1,100,000 Klepierre SA 1.625% 13/12/2032^

EUR EUR EUR

2,700,000 Klepierre SA 1.75% 06/11/2024 1,700,000 Klepierre SA 1.875% 19/02/2026^ 500,000 Klepierre SA 4.75% 14/03/2021

1,945 1,765 1,707 1,047 2,841

0.05 0.05 0.03 0.08

700,000 Renault SA 1% 18/04/2024

692

0.02

EUR

2,300,000 Renault SA 1% 28/11/2025^

2,205

0.06 0.07

1,626

0.04

1,397

0.04

EUR

2,000,000 RTE Reseau de Transport d'Electricite SADIR 1.625% 08/10/2024

2,115

0.06

EUR


2,319

0.06

EUR


2,328

0.06

EUR

2,700,000 RTE Reseau de Transport d'Electricite SADIR 2% 18/04/2036^

2,810

0.08

2,282

0.06

1,967

0.05

EUR

1,000,000 LVMH Moet Hennessy Louis Vuitton SE 1.75% 13/11/2020

1,040

0.03

EUR

1,200,000 Orange SA 0.75% 11/09/2023

1,219

0.03

EUR

2,000,000 Orange SA 0.875% 03/02/2027^

1,961

0.05

EUR

2,100,000 Orange SA 1% 12/05/2025^

2,125

0.06

EUR

1,200,000 Orange SA 1.375% 20/03/2028

1,203

0.03

EUR

2,400,000 Orange SA 1.375% 16/01/2030^

2,340

0.06

513

0.01

716

0.02

2,305

0.06

EUR


2,364

0.06

EUR


4,562

0.12

EUR

1,000,000 RTE Reseau de Transport d'Electricite SADIR 4.125% 03/02/2021^

1,102

0.03

0.02

EUR

3,400,000 Sanofi 0.5% 21/03/2023

3,445

0.09

0.07

EUR

600,000 Sanofi 0.5% 13/01/2027

581

0.02

EUR

2,100,000 Sanofi 0.625% 05/04/2024

2,127

0.06

EUR

3,100,000 Orange SA 1.875% 02/10/2019

3,169

0.09

EUR

2,200,000 Orange SA 2.5% 01/03/2023

2,409

0.07

EUR

3,700,000 Orange SA 3% 15/06/2022

4,083

0.11

EUR

2,800,000 Orange SA 3.125% 09/01/2024

3,166

0.09

EUR

1,600,000 Orange SA 3.375% 16/09/2022

1,795

0.05

EUR

2,865,000 Orange SA 3.875% 09/04/2020

3,046

0.08

EUR

3,050,000 Orange SA 3.875% 14/01/2021

3,329

0.09

EUR

6,310,000 Orange SA 8.125% 28/01/2033

11,167

0.30

2,557 1,212 1,685 2,217

700,000 RTE Reseau de Transport d'Electricite SADIR 2.125% 20/09/2019 2,000,000 RTE Reseau de Transport d'Electricite SADIR 2.75% 20/06/2029

500,000 Orange SA 1.5% 09/09/2027

612

EUR

EUR

EUR

EUR

0.02

EUR

2,738

0.10

2,200,000 RCI Banque SA 0.75% 12/01/2022

581

1,400,000 RTE Reseau de Transport d'Electricite SADIR 1% 19/10/2026

3,760

EUR

0.05

575,000 Renault SA 1% 08/03/2023

2,550,000 Renault SA 3.125% 05/03/2021

2,218,000 LVMH Moet Hennessy Louis Vuitton SE 1% 24/09/2021

1,675,000 RCI Banque SA 0.625% 10/11/2021

2,009

EUR

EUR

EUR

EUR

0.05

1,910,000 RCI Banque SA 2.25% 29/03/2021^

EUR

3,703,000 LVMH Moet Hennessy Louis Vuitton SE 0.75% 26/05/2024^

1,200,000 RCI Banque SA 0.625% 04/03/2020

1,832

EUR

0.02

EUR

2,615,000 RCI Banque SA 0.5% 15/09/2023

0.08

1,850,000 RCI Banque SA 1.625% 26/05/2026

0.05

1,951,000 LVMH Moet Hennessy Louis Vuitton SE 0.375% 26/05/2022

EUR

3,051

EUR

561

EUR

EUR

3,025,000 RCI Banque SA 1.625% 11/04/2025^

1,785


610,000 RCI Banque SA 0.375% 10/07/2019

EUR 0.05

EUR

EUR




Holding Investment

Fair value €'000

0.03 0.05 0.06

EUR

600,000 Sanofi 0.875% 22/09/2021

616

0.02

EUR

4,000,000 Sanofi 1% 21/03/2026

4,090

0.11

EUR

3,000,000 Sanofi 1.125% 10/03/2022

3,109

0.08

EUR

1,600,000 Sanofi 1.125% 05/04/2028^

1,626

0.04

EUR

6,100,000 Sanofi 1.375% 21/03/2030

6,194

0.17

1,300,000 RCI Banque SA 0.75% 26/09/2022

1,302

0.04

EUR

2,200,000 Sanofi 1.5% 22/09/2025

2,335

0.06

EUR

3,800,000 RCI Banque SA 1% 17/05/2023

3,821

0.10

EUR

8,100,000 Sanofi 1.75% 10/09/2026

8,690

0.24

EUR

3,200,000 RCI Banque SA 1.125% 30/09/2019

EUR

4,300,000 Sanofi 1.875% 04/09/2020

4,454

0.12

EUR

4,500,000 Sanofi 1.875% 21/03/2038

4,616

0.13

EUR

4,700,000 Sanofi 2.5% 14/11/2023

5,215

0.14

EUR

2,157,000 Sanofi 4.125% 11/10/2019

2,260

0.06

EUR

2,900,000 Schneider Electric SE 0.25% 09/09/2024^

2,834

0.08

EUR EUR EUR

2,391,000 RCI Banque SA 1.25% 08/06/2022

3,240 2,447

0.09 0.07

2,700,000 RCI Banque SA 1.375% 17/11/2020

2,778

0.08

2,600,000 RCI Banque SA 1.375% 08/03/2024

2,637

0.07


[151]

iSHARES PLC


Ccy

Holding Investment

Fair value €'000


Ccy


Holding Investment

Fair value €'000






EUR


1,900,000 Schneider Electric SE 0.875% 11/03/2025

701

0.02

1,915

0.05

EUR



2,716

0.07

1,683

0.05

EUR



2,543

0.07

1,020

0.03

EUR



304

0.01

2,836

0.08

EUR



3,421

0.09

2,792

0.08

EUR

100,000 Schneider Electric SE 3.5% 22/01/2019


3,249

0.09

101

0.00

EUR


3,700,000 Total Capital International SA 2.5% 25/03/2026^

4,154

0.11

1,551

0.04

EUR

1,400,000 Societe Generale SA 0.125% 05/10/2021


3,681

0.10

1,400

0.04

EUR


1,678,000 Total Capital SA 3.125% 16/09/2022^

1,876

0.05

2,242

0.06

EUR

800,000 Societe Generale SA 0.75% 25/11/2020

2,609,000 Total Capital SA 5.125% 26/03/2024

3,273

0.09

815

0.02

EUR


1,000,000 Unibail-Rodamco SE 0.125% 14/05/2021

1,004

0.03

1,734

0.05

EUR

3,000,000 Societe Generale SA 0.75% 26/05/2023^


1,070

0.03

3,037

0.08

EUR

2,300,000 Societe Generale SA 1% 01/04/2022

1,625,000 Unibail-Rodamco SE 1% 14/03/2025^

1,640

0.04

2,312

0.06

EUR



2,017

0.05

4,293

0.12

EUR

1,800,000 Societe Generale SA 1.375% 13/01/2028^


1,331

0.04

1,725

0.05

EUR



3,138

0.09

4,861

0.13

EUR



2,095

0.06

4,165

0.11

EUR


1,300,000 Unibail-Rodamco SE 1.375% 15/04/2030^

1,266

0.03

2,791

0.08

EUR



1,764

0.05

4,034

0.11

EUR


1,300,000 Unibail-Rodamco SE 1.5% 29/05/2029^

1,292

0.04

4,698

0.13

EUR

EUR

2,900,000 Suez 1% 03/04/2025

2,942

0.08


1,012

0.03

EUR

1,000,000 Suez 1.25% 19/05/2028

1,009

0.03

EUR

2,200,000 Unibail-Rodamco SE 2% 28/04/2036

2,189

0.06

EUR

2,400,000 Suez 1.5% 03/04/2029

2,444

0.07

EUR

EUR

1,500,000 Suez 1.625% 21/09/2032

1,504

0.04

1,550,000 Unibail-Rodamco SE 2% 29/05/2037

1,525

0.04

EUR

1,300,000 Suez 1.75% 10/09/2025

1,378

0.04

EUR

EUR

2,100,000 Suez 2.75% 09/10/2023

2,355

0.06


1,823

0.05

EUR


2,619

0.07

EUR


2,232

0.06

EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR

EUR

2,800,000 Suez 4.078% 17/05/2021

3,109

0.08

EUR

2,550,000 Suez 4.125% 24/06/2022

2,933

0.08

702

0.02

EUR

550,000 Suez 5.5% 22/07/2024

EUR


EUR


EUR


[152]


EUR 3,786 1,203 3,788

1,070

0.03

EUR

1,500,000 Veolia Environnement SA 0.314% 04/10/2023

1,483

0.04

EUR


1,217

0.03

0.10 0.03 0.10

985,000 Unibail-Rodamco SE 3.875% 05/11/2020

iSHARES PLC


Ccy

Holding Investment

Fair value €'000


Ccy

Bonds (28 February 2018: 98.84%) (cont) EUR

3,000,000 Daimler AG 0.75% 11/05/2023

3,024

0.08


EUR

2,397,000 Daimler AG 0.85% 28/02/2025^

2,366

0.06

EUR

2,100,000 Daimler AG 0.875% 12/01/2021

2,140

0.06

EUR

3,825,000 Daimler AG 1% 15/11/2027^

3,648

0.10

EUR

3,550,000 Daimler AG 1.375% 11/05/2028^

3,481

0.09

EUR

3,425,000 Daimler AG 1.4% 12/01/2024^

3,531

0.10

EUR

2,993,000 Daimler AG 1.5% 09/03/2026^

3,050

0.08

EUR

5,075,000 Daimler AG 1.5% 03/07/2029^

4,969

0.14

EUR

2,300,000 Daimler AG 1.75% 21/01/2020

2,360

0.06

EUR

1,751,000 Daimler AG 1.875% 08/07/2024

1,846

0.05

EUR

2,700,000 Daimler AG 2% 07/04/2020

2,789

0.08

EUR

3,100,000 Daimler AG 2% 25/06/2021

3,264

0.09


EUR


EUR EUR EUR



EUR

EUR




Holding Investment

Fair value €'000

3,050,000 Veolia Environnement SA 4.247% 06/01/2021 2,100,000 Veolia Environnement SA 4.625% 30/03/2027 2,350,000 Veolia Environnement SA 5.125% 24/05/2022

1,345 1,761 1,853 3,346 2,697 2,773

0.04 0.05 0.05 0.09 0.07 0.08


3,984

0.11

EUR

4,800,000 Daimler AG 2.125% 03/07/2037^

4,760

0.13

EUR

1,100,000 Vinci SA 3.375% 30/03/2020

1,160

0.03

EUR

3,087,000 Daimler AG 2.25% 24/01/2022

3,292

0.09

EUR

1,800,000 Vivendi SA 0.75% 26/05/2021

1,827

0.05

EUR

2,900,000 Daimler AG 2.375% 12/09/2022

3,126

0.08

EUR

5,100,000 Vivendi SA 0.875% 18/09/2024^

5,089

0.14

EUR

1,800,000 Daimler AG 2.375% 08/03/2023^

1,955

0.05

EUR

2,700,000 Vivendi SA 1.125% 24/11/2023

2,757

0.07

EUR

EUR

2,500,000 Vivendi SA 4.875% 02/12/2019

3,600,000 Deutsche Bank AG 0.375% 18/01/2021

3,546

0.10

EUR

4,100,000 Deutsche Bank AG 1.125% 17/03/2025

3,857

0.10

EUR

5,800,000 Deutsche Bank AG 1.25% 08/09/2021

5,806

0.16

EUR

5,200,000 Deutsche Bank AG 1.5% 20/01/2022

5,199

0.14

EUR

3,700,000 Deutsche Bank AG 1.75% 17/01/2028

3,402

0.09

EUR

4,500,000 Deutsche Bank AG 2.375% 11/01/2023

4,637

0.13

EUR

4,250,000 Deutsche Bank AG 5% 24/06/2020^

4,503

0.12

EUR

1,900,000 DVB Bank SE 0.875% 11/11/2019

1,916

0.05

EUR

1,900,000 DVB Bank SE 0.875% 09/04/2021

1,911

0.05

Total France

2,654

0.07

851,326

23.19

Germany (28 February 2018: 6.05%) Corporate Bonds EUR

750,000 BASF SE 0.875% 22/05/2025

759

0.02

EUR

2,925,000 BASF SE 0.875% 15/11/2027

2,871

0.08

EUR

2,075,000 BASF SE 0.875% 06/10/2031

1,927

0.05

EUR

1,620,000 BASF SE 1.5% 22/05/2030^

1,639

0.04

EUR

2,525,000 BASF SE 1.625% 15/11/2037

2,427

0.07

EUR

2,777,000 BASF SE 1.875% 04/02/2021

2,912

0.08

EUR

3,896,000 BASF SE 2% 05/12/2022

4,213

0.11

EUR

1,400,000 BASF SE 2.5% 22/01/2024

1,552

0.04

EUR

2,200,000 Commerzbank AG 0.5% 28/08/2023

EUR EUR EUR EUR EUR

0.06

2,505,000 Commerzbank AG 0.5% 13/09/2023

2,443

0.07

1,800,000 Commerzbank AG 1.125% 24/05/2024^

1,785

0.05

2,100,000 Commerzbank AG 1.125% 19/09/2025

2,035

0.06

1,600,000 Commerzbank AG 1.5% 21/09/2022^ 1,800,000 Commerzbank AG 1.875% 28/02/2028

EUR

2,579,000 Commerzbank AG 4% 16/09/2020

EUR

3,265,000 Commerzbank AG 4% 23/03/2026

EUR

2,184

1,824,000 Commerzbank AG 4% 30/03/2027^

1,655 1,778 2,780 3,536 1,964

EUR

800,000 DVB Bank SE 1% 29/07/2019

EUR

1,700,000 DVB Bank SE 1% 25/04/2022^

0.02

1,699

0.05

EUR

600,000 DVB Bank SE 1.25% 22/04/2020

608

0.02

EUR

1,600,000 DVB Bank SE 1.25% 15/09/2021

1,619

0.04

EUR

1,200,000 DVB Bank SE 1.25% 16/06/2023

1,200

0.03

EUR

1,600,000 DVB Bank SE 2.375% 02/12/2020

1,667

0.05

EUR

2,789,000 HeidelbergCement AG 1.5% 07/02/2025

2,834

0.08

EUR

1,607,000 HeidelbergCement AG 2.25% 30/03/2023

1,711

0.05

EUR

3,511,000 HeidelbergCement AG 2.25% 03/06/2024^

3,738

0.10

EUR

3,776,000 Linde AG 1.75% 17/09/2020

3,922

0.11

EUR

3,800,000 Linde AG 2% 18/04/2023

4,119

0.11

EUR

1,817,000 SAP SE 1% 01/04/2025^

1,877

0.05

3,200,000 SAP SE 1% 13/03/2026^

3,267

0.09

0.04 0.05 0.08 0.10 0.05

806

4,000,000 Commerzbank AG 7.75% 16/03/2021

4,660

0.13

EUR

EUR

2,969,000 Daimler AG 0.25% 11/05/2020

2,983

0.08

EUR

750,000 SAP SE 1.125% 20/02/2023

782

0.02

EUR

5,069,000 Daimler AG 0.5% 09/09/2019

5,100

0.14

EUR

3,500,000 SAP SE 1.375% 13/03/2030

3,567

0.10

EUR

3,500,000 Daimler AG 0.625% 05/03/2020

3,537

0.10

EUR

600,000 SAP SE 1.75% 22/02/2027

648

0.02

EUR


[153]

iSHARES PLC


Ccy

Holding Investment

Fair value €'000



Italy (28 February 2018: 5.50%)


Corporate Bonds 4,046,000 Assicurazioni Generali SpA 2.875% 14/01/2020

4,198

0.11

0.03

EUR

3,000,000 Assicurazioni Generali SpA 4.125% 04/05/2026

3,102

0.08

2,049

0.06

EUR

1,000,000 Volkswagen Bank GmbH 1.25% 10/06/2024

5,891,000 Assicurazioni Generali SpA 5.125% 16/09/2024^

7,074

0.19

991

0.03

EUR

850,000 Volkswagen Bank GmbH 1.25% 15/12/2025

2,294,000 Atlantia SpA 1.625% 03/02/2025^

2,109

0.06

824

0.02

EUR

2,250,000 Volkswagen Financial Services AG 0.75% 14/10/2021

3,507,000 Atlantia SpA 1.875% 13/07/2027^

3,171

0.09

2,267

0.06

EUR

1,625,000 Volkswagen Financial Services AG 0.875% 12/04/2023

2,300,000 Autostrade per l'Italia SpA 1.75% 26/06/2026^

2,058

0.06

1,616

0.04

EUR

3,750,000 Volkswagen Leasing GmbH 0.25% 05/10/2020

850,000 Autostrade per l'Italia SpA 1.75% 01/02/2027^

759

0.02

3,755

0.10

EUR

875,000 Volkswagen Leasing GmbH 0.25% 16/02/2021


2,239

0.06

874

0.02

EUR



1,734

0.05

2,429

0.07

EUR

1,200,000 Volkswagen Leasing GmbH 1% 16/02/2023


1,343

0.04

1,198

0.03

EUR



1,841

0.05

2,817

0.08

EUR


4,400,000 Autostrade per l'Italia SpA 5.875% 09/06/2024

4,974

0.14

3,051

0.08

EUR

3,500,000 Enel SpA 5.25% 20/05/2024

4,275

0.12

EUR

3,674,000 Enel SpA 5.625% 21/06/2027^

4,698

0.13

EUR

1,750,000 Eni SpA 0.625% 19/09/2024

1,702

0.05

EUR

2,102,000 Eni SpA 0.75% 17/05/2022

2,126

0.06

EUR

1,575,000 Eni SpA 1% 14/03/2025

1,556

0.04

EUR

1,100,000 Eni SpA 1.125% 19/09/2028

1,027

0.03

EUR

3,617,000 Eni SpA 1.5% 02/02/2026^

3,626

0.10

1,004


725,000 Volkswagen Leasing GmbH 1.625% 15/08/2025 2,200,000 Volkswagen Leasing GmbH 2.125% 04/04/2022 3,200,000 Volkswagen Leasing GmbH 2.375% 06/09/2022 4,011,000 Volkswagen Leasing GmbH 2.625% 15/01/2024

722 2,313 3,398

0.02 0.06 0.09

4,298

0.12

EUR

2,385,000 Eni SpA 1.5% 17/01/2027

2,371

0.06

206,788

5.63

EUR

2,125,000 Eni SpA 1.625% 17/05/2028^

2,093

0.06

EUR

2,450,000 Eni SpA 1.75% 18/01/2024

2,552

0.07


EUR

3,150,000 Eni SpA 2.625% 22/11/2021

3,383

0.09

Corporate Bonds

EUR

3,082,000 Eni SpA 3.25% 10/07/2023

3,454

0.09

EUR

2,880,000 Eni SpA 3.625% 29/01/2029^

3,347

0.09

EUR

4,164,000 Eni SpA 3.75% 12/09/2025

4,837

0.13

EUR

4,100,000 Eni SpA 4% 29/06/2020

4,392

0.12

EUR

2,550,000 Eni SpA 4.125% 16/09/2019

2,660

0.07

EUR

5,050,000 Eni SpA 4.25% 03/02/2020

5,353

0.15

EUR

2,965,000 FCA Bank SpA 0.25% 12/10/2020

2,947

0.08

EUR

2,417,000 FCA Bank SpA 1% 15/11/2021

2,430

0.07

EUR

1,700,000 FCA Bank SpA 1.25% 23/09/2020

1,727

0.05

EUR

650,000 FCA Bank SpA 1.25% 21/01/2021

659

0.02

EUR

2,350,000 FCA Bank SpA 1.375% 17/04/2020

2,386

0.06

EUR

2,550,000 FCA Bank SpA 2% 23/10/2019

2,603

0.07

7,382,000 Credit Suisse Group Funding Guernsey Ltd 1.25% 14/04/2022 Total Guernsey

7,520 7,520

0.21 0.21

Ireland (28 February 2018: 1.19%) Corporate Bonds EUR EUR EUR


EUR


Total Germany

EUR

Holding Investment

Bonds (28 February 2018: 98.84%) (cont) Corporate Bonds (cont) EUR

Ccy

Fair value €'000

3,080,000 GE Capital European Funding Unlimited Co 0.8% 21/01/2022 2,759,000 GE Capital European Funding Unlimited Co 2.25% 20/07/2020 2,950,000 GE Capital European Funding Unlimited Co 2.625% 15/03/2023^

3,127 2,877

3,209

0.08 0.08

0.09

EUR

1,800,000 GE Capital European Funding Unlimited Co 4.35% 03/11/2021

EUR


2,310

0.06

EUR


1,350,000 Intesa Sanpaolo SpA 0.875% 27/06/2022

1,308

0.04

5,752

0.16

EUR



5,451

0.15

3,261

0.09

EUR

22,569

0.62


4,259

0.12

EUR EUR

Total Ireland

[154]


2,033

0.06

iSHARES PLC


Ccy

Holding Investment

Fair value €'000


Ccy


Holding Investment

Fair value €'000


Japan (28 February 2018: 0.52%) (cont)

Italy (28 February 2018: 5.50%) (cont)



EUR

2,211,000 Sumitomo Mitsui Banking Corp 4% 09/11/2020


2,391

0.06

1,981

0.05

EUR



1,738

0.05

3,997

0.11

EUR

3,700,000 Intesa Sanpaolo SpA 2% 18/06/2021


2,589

0.07

3,777

0.10

EUR



1,678

0.05

2,691

0.07

EUR



1,892

0.05

2,881

0.08

EUR



2,150

0.06

Total Japan

EUR

3,450,000 Intesa Sanpaolo SpA 4% 30/10/2023

3,760

0.10

Jersey (28 February 2018: 0.51%)

EUR


3,210

0.09


EUR


4,577

4,590,000 Snam SpA 0.875% 25/10/2026

4,223

0.11

EUR

1,250,000 Snam SpA 1.25% 25/01/2025

1,229

0.03

EUR

1,250,000 Snam SpA 1.375% 25/10/2027

1,177

0.03

EUR

3,050,000 Snam SpA 1.5% 21/04/2023

3,146

0.09

EUR

1,750,000 Snam SpA 3.5% 13/02/2020

1,837

0.05

EUR

2,050,000 Snam SpA 5.25% 19/09/2022

EUR

4,894,000 Terna Rete Elettrica Nazionale SpA 0.875% 02/02/2022

EUR

550,000 Terna Rete Elettrica Nazionale SpA 1% 23/07/2023

EUR

1,175,000 Terna Rete Elettrica Nazionale SpA 1% 11/10/2028^

1,058

0.03

EUR


4,702

0.13

EUR


4,553

0.12

EUR EUR EUR

2,400,000 Terna Rete Elettrica Nazionale SpA 4.875% 03/10/2019 290,000 Terna Rete Elettrica Nazionale SpA 4.9% 28/10/2024 2,375,000 UniCredit SpA 1% 18/01/2023

2,441 4,916 544

0.07 0.13 0.01

0.12 0.55

Corporate Bonds EUR

4,796,000 Glencore Finance Europe Ltd 1.25% 17/03/2021

4,862

0.13

EUR


1,453

0.04

EUR


2,848

0.08

EUR

2,416,000 Glencore Finance Europe Ltd 1.875% 13/09/2023^

2,455

0.07

EUR


1,979

0.05

EUR


2,208

0.06

EUR


0.12

EUR

4,297 19,993

Total Jersey

1,864

0.05

17,669

0.48

Luxembourg (28 February 2018: 1.60%) Corporate Bonds

2,526 353 2,223

0.07

EUR

1,000,000 Aroundtown SA 1% 07/01/2025

953

0.03

EUR

1,000,000 Aroundtown SA 1.5% 15/07/2024

995

0.03

EUR

1,000,000 Aroundtown SA 1.875% 19/01/2026

985

0.03

EUR

5,200,000 Aroundtown SA 2% 02/11/2026

5,105

0.14

EUR

2,000,000 Aroundtown SA 2.125% 13/03/2023

2,078

0.06

EUR

3,500,000 Gazprom OAO Via Gaz Capital SA 3.389% 20/03/2020

0.01 0.06

EUR

4,175,000 UniCredit SpA 2% 04/03/2023

4,190

0.11

EUR

2,850,000 UniCredit SpA 2.125% 24/10/2026

2,763

0.07

3,630

0.10

EUR

4,460,000 UniCredit SpA 3.25% 14/01/2021

4,675

0.13

EUR

EUR

2,410,000 UniCredit SpA 4.375% 29/01/2020^


4,742

0.13

2,534

0.07

EUR

189,938

5.17


6,617

0.18

EUR

1,650,000 HeidelbergCement Finance Luxembourg SA 0.5% 18/01/2021

1,664

0.04

EUR

775,000 HeidelbergCement Finance Luxembourg SA 0.5% 09/08/2022

772

0.02

EUR

1,425,000 HeidelbergCement Finance Luxembourg SA 1.5% 14/06/2027^

1,397

0.04

Total Italy Japan (28 February 2018: 0.52%) Corporate Bonds EUR

1,750,000 Sumitomo Mitsui Banking Corp 1% 19/01/2022

EUR

2,500,000 Sumitomo Mitsui Banking Corp 2.25% 16/12/2020

2,628

0.07

EUR

900,000 Sumitomo Mitsui Banking Corp 2.75% 24/07/2023

991

0.03

1,789

0.05


[155]

iSHARES PLC


Ccy

Holding Investment

Fair value €'000


Ccy




EUR

EUR

EUR

EUR

EUR

EUR EUR

3,353,000 HeidelbergCement Finance Luxembourg SA 1.625% 07/04/2026^ 2,325,000 HeidelbergCement Finance Luxembourg SA 1.75% 24/04/2028^

3,384

2,293

0.06

604

0.02


1,965

0.05

3,355

0.09


1,538

0.04

2,600,000 Holcim Finance Luxembourg SA 1.375% 26/05/2023

2,650

0.07

2,850,000 Holcim Finance Luxembourg SA 1.75% 29/08/2029

2,686

0.07

3,800,000 Holcim Finance Luxembourg SA 2.25% 26/05/2028^

EUR

1,550,000 Holcim Finance Luxembourg SA 3% 22/01/2024^

1,697

0.05

EUR

2,000,000 Holcim US Finance Sarl & Cie SCS 2.625% 07/09/2020

2,100

0.06

EUR

1,300,000 Nestle Finance International Ltd 0.375% 18/01/2024^

1,302

0.03

2,600,000 Nestle Finance International Ltd 0.75% 08/11/2021

2,665

0.07


1,128

0.03


1,024

0.03


1,517

0.04


2,296

0.06


2,915

0.08


2,883

0.08

3,200,000 Novartis Finance SA 0.125% 20/09/2023

3,174

0.09


1,162

0.03

919

0.02


2,535

0.07


2,053

0.06


1,804

0.05


3,188

0.09

EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR

[156]

960,000 Novartis Finance SA 0.625% 20/09/2028^



2,501

0.07

EUR

4,106,000 Richemont International Holding SA 1% 26/03/2026

4,136

0.11

EUR

3,175,000 Richemont International Holding SA 1.5% 26/03/2030

3,213

0.09

EUR

4,675,000 Richemont International Holding SA 2% 26/03/2038 Total Luxembourg

4,651

0.13

100,114

2.73

Mexico (28 February 2018: 0.46%)

EUR

EUR

EUR

0.09

597,000 HeidelbergCement Finance Luxembourg SA 2.25% 12/03/2019




Luxembourg (28 February 2018: 1.60%) (cont) EUR

Holding Investment

Fair value €'000

3,838

0.10

Corporate Bonds EUR

2,847,000 America Movil SAB de CV 1.5% 10/03/2024

2,933

0.08

EUR

1,911,000 America Movil SAB de CV 2.125% 10/03/2028^

1,992

0.05

EUR

3,700,000 America Movil SAB de CV 3% 12/07/2021^

3,993

0.11

EUR


2,691

0.07

EUR


2,200

0.06

EUR


2,748

0.08

16,557

0.45

Total Mexico

Netherlands (28 February 2018: 15.67%) Corporate Bonds EUR

1,000,000 ABN Amro Bank NV 0.5% 17/07/2023

998

0.03

EUR

1,973,000 ABN Amro Bank NV 0.625% 31/05/2022

2,002

0.05

EUR

1,600,000 ABN Amro Bank NV 0.75% 09/06/2020^

1,625

0.04

EUR

1,430,000 ABN Amro Bank NV 0.875% 22/04/2025

1,437

0.04

EUR

4,791,000 ABN Amro Bank NV 1% 16/04/2025

4,871

0.13

EUR

3,300,000 ABN Amro Bank NV 2.125% 26/11/2020

3,462

0.09

EUR

3,315,000 ABN Amro Bank NV 2.5% 29/11/2023

3,644

0.10

EUR

4,341,000 ABN Amro Bank NV 4.125% 28/03/2022

4,940

0.13

EUR

2,990,000 ABN Amro Bank NV 6.375% 27/04/2021

3,462

0.09

EUR

3,425,000 ABN Amro Bank NV 7.125% 06/07/2022

4,216

0.12

EUR

1,100,000 Allianz Finance II BV 0.25% 06/06/2023^

1,096

0.03

EUR

2,100,000 Allianz Finance II BV 0.875% 06/12/2027

2,084

0.06

EUR


2,710

0.07

EUR

2,000,000 Allianz Finance II BV 3% 13/03/2028

2,377

0.07

iSHARES PLC


Ccy

Holding Investment

Fair value €'000


Ccy




EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR



Netherlands (28 February 2018: 15.67%) (cont) EUR

Holding Investment

Fair value €'000

EUR


5,700,000 Allianz Finance II BV 3.5% 14/02/2022^

3,298

0.09

6,360

0.17

EUR



4,900

0.13

1,461

0.04

EUR

2,100,000 BASF Finance Europe NV 0.75% 10/11/2026


2,793

0.08

2,089

0.06

EUR

4,300,000 Bayer Capital Corp BV 0.625% 15/12/2022


3,229

0.09

4,318

0.12

EUR


5,129,000 Cooperatieve Rabobank UA 4% 11/01/2022

5,787

0.16

5,096

0.14

EUR



9,568

0.26

5,533

0.15

EUR

2,900,000 BMW Finance NV 0.125% 15/04/2020


6,573

0.18

2,911

0.08

EUR

2,800,000 BMW Finance NV 0.125% 03/07/2020


4,072

0.11

2,811

0.08

EUR

3,818,000 BMW Finance NV 0.125% 12/01/2021


11,646

0.32

3,828

0.10

EUR

1,950,000 BMW Finance NV 0.375% 10/07/2023


5,658

0.15

1,933

0.05

EUR

2,885,000 BMW Finance NV 0.5% 21/01/2020


11,369

0.31

2,912

0.08

EUR

1,825,000 BMW Finance NV 0.5% 22/11/2022

500,000 Daimler International Finance BV 0.2% 13/09/2021

500

0.01

1,832

0.05

EUR

2,091,000 BMW Finance NV 0.75% 15/04/2024

2,000,000 Daimler International Finance BV 0.25% 09/08/2021

1,999

0.05

2,095

0.06

EUR

2,500,000 BMW Finance NV 0.75% 12/07/2024^


1,740

0.05

2,498

0.07

EUR

3,852,000 BMW Finance NV 0.875% 17/11/2020


998

0.03

3,928

0.11

EUR

1,925,000 BMW Finance NV 0.875% 03/04/2025^

3,000,000 Daimler International Finance BV 1% 11/11/2025

2,953

0.08

1,921

0.05

EUR

2,150,000 BMW Finance NV 1% 15/02/2022


1,625

0.04

2,213

0.06

EUR

1,600,000 BMW Finance NV 1% 21/01/2025

1,445,000 Deutsche Telekom International Finance BV 0.25% 19/04/2021^

1,454

0.04

1,616

0.04

EUR

1,150,000 BMW Finance NV 1% 29/08/2025


2,891

0.08

1,146

0.03

EUR

1,775,000 BMW Finance NV 1.125% 22/05/2026^


1,918

0.05

1,767

0.05

EUR

1,900,000 BMW Finance NV 1.125% 10/01/2028^


5,876

0.16

1,851

0.05

EUR

3,430,000 BMW Finance NV 1.25% 05/09/2022^


2,469

0.07

3,562

0.10

EUR

2,900,000 BMW Finance NV 2% 04/09/2020


4,053

0.11

3,021

0.08

EUR

3,300,000 BMW Finance NV 2.375% 24/01/2023^


2,004

0.05

3,582

0.10

EUR

2,250,000 BMW Finance NV 2.625% 17/01/2024^


4,457

0.12

2,484

0.07

EUR

1,800,000 Cooperatieve Rabobank UA 0.125% 11/10/2021^


3,777

0.10

1,804

0.05

EUR


1,200,000 Deutsche Telekom International Finance BV 2% 30/10/2019

1,230

0.03

1,768

0.05

EUR


2,650,000 Deutsche Telekom International Finance BV 2% 01/12/2029

2,725

0.07

999

0.03

EUR



3,626

0.10

6,363

0.17


[157]

iSHARES PLC


Ccy

Holding Investment

Fair value €'000


Ccy



Corporate Bonds (cont) 300,000 Deutsche Telekom International Finance BV 2.125% 18/01/2021

315

0.01

EUR


2,742

0.07

EUR


3,409

0.09

EUR EUR

1,166,000 Deutsche Telekom International Finance BV 4.25% 16/03/2020 4,302,000 Deutsche Telekom International Finance BV 4.25% 13/07/2022

EUR

2,125,000 Deutsche Telekom International Finance BV 4.875% 22/04/2025^

EUR


EUR EUR

2,817,000 EDP Finance BV 1.125% 12/02/2024 1,490,000 EDP Finance BV 1.5% 22/11/2027^

EUR

2,400,000 EDP Finance BV 1.625% 26/01/2026^

EUR

1,125,000 EDP Finance BV 1.875% 29/09/2023

EUR EUR

2,085,000 EDP Finance BV 2% 22/04/2025^ 1,500,000 EDP Finance BV 2.375% 23/03/2023

EUR

4,551,000 EDP Finance BV 2.625% 18/01/2022

EUR

1,450,000 EDP Finance BV 4.125% 20/01/2021

EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR

2,650,000 EDP Finance BV 4.875% 14/09/2020

1,244 4,957 2,670 3,687 2,800 1,419 2,364 1,174 2,142 1,605 4,872 1,583 2,903

EUR

700,000 Heineken NV 2% 06/04/2021

736

EUR

700,000 Heineken NV 2.02% 12/05/2032^

730

0.02

EUR

3,398,000 Heineken NV 2.125% 04/08/2020

3,540

0.10

EUR

3,400,000 Heineken NV 2.875% 04/08/2025^

3,824

0.10

EUR

1,570,000 Heineken NV 3.5% 19/03/2024^

1,805

0.05

EUR

2,200,000 Iberdrola International BV 0.375% 15/09/2025^

2,111

0.06

EUR

1,400,000 Iberdrola International BV 1.125% 27/01/2023

1,442

0.04

EUR


3,603

0.10

EUR


2,441

0.07

EUR


2,030

0.06

EUR


4,030

0.11

EUR


2,551

0.07

EUR

2,700,000 Iberdrola International BV 3% 31/01/2022

2,955

0.08

EUR


3,465

0.09

EUR

4,782,000 ING Bank NV 0.7% 16/04/2020

4,848

0.13

0.03 0.14 0.07 0.10 0.08 0.04 0.06 0.03 0.06 0.04 0.13 0.04

0.02

EUR

800,000 ING Bank NV 0.75% 24/11/2020

815

0.02

EUR

2,900,000 ING Bank NV 0.75% 22/02/2021

2,957

0.08

EUR

3,856,000 ING Bank NV 1.25% 13/12/2019

3,926

0.11

EUR

6,096,000 ING Bank NV 4.5% 21/02/2022

7,006

0.19

EUR

2,169,000 ING Bank NV 4.875% 18/01/2021

2,423

0.07

EUR

4,600,000 ING Groep NV 0.75% 09/03/2022

4,624

0.13

0.08

2,500,000 Enel Finance International NV 1% 16/09/2024^

2,461

0.07

EUR

3,077,000 Enel Finance International NV 1.125% 16/09/2026^

2,900,000 ING Groep NV 1.125% 14/02/2025

2,849

0.08

2,879

0.08

EUR


2,700,000 ING Groep NV 1.375% 11/01/2028

2,620

0.07

3,398

0.09

EUR


634

0.02

4,918

0.13

EUR

8,987,000 Enel Finance International NV 5% 14/09/2022

2,274,000 innogy Finance BV 1% 13/04/2025

2,278

0.06

10,575

0.29

EUR

2,600,000 Gas Natural Fenosa Finance BV 0.875% 15/05/2025

2,484,000 innogy Finance BV 1.25% 19/10/2027

2,440

0.07

2,546

0.07

EUR


3,100,000 innogy Finance BV 1.5% 31/07/2029^

3,013

0.08

3,470

0.09

EUR



1,543

0.04

2,352

0.06

EUR

3,000,000 Gas Natural Fenosa Finance BV 1.375% 19/01/2027^


2,787

0.08

2,982

0.08

EUR


1,440,000 innogy Finance BV 3% 17/01/2024

1,614

0.04

990

0.03

EUR



3,723

0.10

2,453

0.07

EUR

3,826,000 Heineken NV 1% 04/05/2026

3,795

0.10


4,824

0.13

EUR

3,300,000 JAB Holdings BV 1.25% 22/05/2024

3,342

0.09

EUR

900,000 Heineken NV 1.25% 10/09/2021

928

0.03

EUR

2,975,000 Heineken NV 1.5% 03/10/2029^

2,945

0.08

[158]




Holding Investment

Fair value €'000


625,000 innogy Finance BV 0.75% 30/11/2022

iSHARES PLC


Ccy

Holding Investment

Fair value €'000


Ccy




EUR EUR EUR EUR

2,520

0.07

0.08

EUR

1,800,000 JAB Holdings BV 1.625% 30/04/2025

1,500,000 TenneT Holding BV 0.75% 26/06/2025

1,501

0.04

1,843

0.05

EUR

3,100,000 JAB Holdings BV 1.75% 25/05/2023


2,352

0.06

3,253

0.09

EUR

700,000 JAB Holdings BV 1.75% 25/06/2026

1,900,000 TenneT Holding BV 1% 13/06/2026

1,916

0.05

709

0.02

EUR

2,606

0.07


1,546

0.04

EUR


1,021

0.03

EUR


1,302

0.04

EUR


1,469

0.04

EUR

1,550,000 TenneT Holding BV 1.875% 13/06/2036^

1,591

0.04

EUR

1,200,000 TenneT Holding BV 2% 05/06/2034

1,262

0.03

EUR


1,832

0.05

EUR


1,206

0.03

EUR


2,375

0.06

EUR

2,700,000 Unilever NV 0.375% 14/02/2023

2,711

0.07

EUR

2,700,000 Unilever NV 0.5% 03/02/2022

2,737

0.07

EUR

2,900,000 Unilever NV 0.5% 12/08/2023

2,919

0.08

2,600,000 JAB Holdings BV 2% 18/05/2028

EUR

2,000,000 JAB Holdings BV 2.5% 25/06/2029 1,050,000 Linde Finance BV 0.25% 18/01/2022 2,173,000 Linde Finance BV 1% 20/04/2028^

EUR

1,857,000 Linde Finance BV 3.875% 01/06/2021

EUR

1,000,000 Repsol International Finance BV 0.5% 23/05/2022^

EUR EUR EUR EUR

800,000 Repsol International Finance BV 2.125% 16/12/2020 1,700,000 Repsol International Finance BV 2.25% 10/12/2026^ 4,600,000 Repsol International Finance BV 2.625% 28/05/2020 4,200,000 Repsol International Finance BV 3.625% 07/10/2021

1,067 2,057 1,059 2,176 2,061 1,008 838 1,835 4,809 4,655

0.03 0.06 0.03 0.06 0.06 0.03 0.02 0.05 0.13 0.13

EUR


3,924

0.11

EUR

1,300,000 Shell International Finance BV 0.75% 12/05/2024^

1,321

0.04

EUR EUR EUR

2,750,000 Shell International Finance BV 0.75% 15/08/2028^ 3,403,000 Shell International Finance BV 1% 06/04/2022 3,623,000 Shell International Finance BV 1.25% 15/03/2022

EUR


EUR


2,641 3,511 3,774 2,603 2,032

0.07 0.10 0.10 0.07 0.06

EUR


EUR


EUR


EUR

1,350,000 Siemens Financieringsmaatschappij NV 0.375% 06/09/2023

1,351

0.04

1,500,000 Siemens Financieringsmaatschappij NV 1% 06/09/2027

1,496

0.04

EUR

EUR

1,778,000 Telefonica Europe BV 5.875% 14/02/2033

3,021

1,000,000 JAB Holdings BV 2.125% 16/09/2022

EUR

EUR

2,900,000 JAB Holdings BV 1.5% 24/11/2021

EUR

EUR




Holding Investment

Fair value €'000

1,025,000 Siemens Financieringsmaatschappij NV 1.375% 06/09/2030

4,386 3,995 4,672

1,024

0.12 0.11 0.13

0.03

EUR

750,000 Unilever NV 0.5% 29/04/2024^

751

0.02

1,025,000 Unilever NV 0.5% 06/01/2025

1,016

0.03

EUR

3,251,000 Unilever NV 0.875% 31/07/2025

3,300

0.09

EUR

1,250,000 Unilever NV 1% 03/06/2023

1,289

0.04

EUR

1,750,000 Unilever NV 1% 14/02/2027^

1,746

0.05

EUR

1,500,000 Unilever NV 1.125% 12/02/2027^

1,517

0.04

EUR

2,980,000 Unilever NV 1.125% 29/04/2028

2,991

0.08

EUR

1,713,000 Unilever NV 1.375% 31/07/2029

1,727

0.05

EUR

750,000 Unilever NV 1.375% 04/09/2030

744

0.02

EUR

1,750,000 Unilever NV 1.625% 12/02/2033

1,754

0.05

EUR

1,000,000 Unilever NV 1.75% 05/08/2020

1,036

0.03

EUR

2,500,000 Volkswagen International Finance NV 0.5% 30/03/2021

2,514

0.07

EUR


2,825

0.08

EUR


4,313

0.12

EUR


2,653

0.07

EUR


8,420

0.23

EUR

4,224,000 Volkswagen International Finance NV 2% 14/01/2020

4,340

0.12

EUR

6,371,000 Volkswagen International Finance NV 2% 26/03/2021

6,652

0.18

EUR


3,343

0.09

EUR


[159]

iSHARES PLC


Ccy

Holding Investment

Fair value €'000


Ccy


Corporate Bonds


EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR

EUR

1,200,000 Abertis Infraestructuras SA 1% 27/02/2027^

1,091

0.03

1,771

0.05

EUR

700,000 Vonovia Finance BV 0.875% 30/03/2020

3,800,000 Abertis Infraestructuras SA 1.375% 20/05/2026^

3,597

0.10

710

0.02

EUR

1,900,000 Vonovia Finance BV 0.875% 10/06/2022

3,000,000 Abertis Infraestructuras SA 2.5% 27/02/2025^

3,133

0.09

1,924

0.05

EUR


1,300,000 Abertis Infraestructuras SA 3.75% 20/06/2023

1,464

0.04

1,097

0.03

EUR


200,000 Abertis Infraestructuras SA 4.375% 30/03/2020

214

0.01

1,566

0.04

EUR


200,000 Banco Bilbao Vizcaya Argentaria SA 0.625% 17/01/2022

201

0.01

3,399

0.09

EUR


3,500,000 Banco Bilbao Vizcaya Argentaria SA 0.625% 17/01/2022

3,510

0.10

1,367

0.04

EUR

1,800,000 Vonovia Finance BV 1.5% 10/06/2026^

4,300,000 Banco Bilbao Vizcaya Argentaria SA 0.75% 11/09/2022^

4,240

0.12

1,787

0.05

EUR


1,500,000 Banco Bilbao Vizcaya Argentaria SA 1% 20/01/2021^

1,531

0.04

2,028

0.06

EUR



2,730

0.07

5,076

0.14

EUR



3,405

0.09

1,702

0.05

EUR



3,680

0.10

1,380

0.04

EUR


2,900,000 Banco Santander SA 1.375% 03/03/2021^

2,988

0.08

1,198

0.03

EUR



4,589

0.13

3,085

0.08

EUR



4,452

0.12

1,912

0.05

EUR



3,335

0.09

1,441

0.04

EUR



4,517

0.12

2,648

0.07

EUR

604,930

16.48


3,364

0.09

EUR


4,851

0.13

EUR

3,900,000 Banco Santander SA 4% 24/01/2020

4,121

0.11

EUR

1,900,000 Iberdrola Finanzas SA 1% 07/03/2024

1,936

0.05

EUR

1,000,000 Iberdrola Finanzas SA 1.25% 28/10/2026

1,003

0.03

EUR

2,500,000 Iberdrola Finanzas SA 1.25% 13/09/2027^


Total Netherlands Norway (28 February 2018: 1.08%) Corporate Bonds EUR

3,150,000 DNB Bank ASA 1.125% 01/03/2023

EUR

1,540,000 DNB Bank ASA 3.875% 29/06/2020

EUR

3,200,000 DNB Bank ASA 4.25% 18/01/2022

EUR

6,900,000 DNB Bank ASA 4.375% 24/02/2021

EUR

3,819,000 Equinor ASA 0.875% 17/02/2023^

3,918

0.11

EUR

3,995,000 Equinor ASA 1.25% 17/02/2027^

4,090

EUR

4,100,000 Equinor ASA 1.625% 17/02/2035^ 1,080,000 Equinor ASA 1.625% 09/11/2036

EUR

3,258 1,653

0.09 0.04

2,488

0.07

EUR

500,000 Iberdrola Finanzas SA 1.621% 29/11/2029

500

0.01

EUR

3,250,000 Iberdrola Finanzas SA 4.125% 23/03/2020

3,461

0.09

0.11

EUR

1,200,000 Naturgy Capital Markets SA 1.125% 11/04/2024

1,219

0.03

4,135

0.11

EUR

1,071

0.03


1,970

0.05

EUR


3,514

0.10

EUR

4,300,000 Santander Consumer Finance SA 0.875% 24/01/2022

4,344

0.12

3,642 7,651

0.10 0.21

EUR

3,144,000 Equinor ASA 2% 10/09/2020

3,276

0.09

EUR

2,000,000 Equinor ASA 2.875% 10/09/2025

2,296

0.06

EUR

3,813,000 Equinor ASA 5.625% 11/03/2021

4,347

0.12

39,337

1.07

Total Norway

[160]




Holding Investment

Fair value €'000


iSHARES PLC


Ccy

Holding Investment

Fair value €'000


Ccy




EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR

600,000 Skandinaviska Enskilda Banken AB 0.3% 17/02/2022

603

0.02

2,294

0.06

EUR



1,509

0.04

3,649

0.10

EUR

2,900,000 Santander Consumer Finance SA 1% 26/05/2021


4,192

0.11

2,963

0.08

EUR



2,050

0.06

3,608

0.10

EUR


3,300,000 Skandinaviska Enskilda Banken AB 2% 19/02/2021

3,467

0.09

2,817

0.08

EUR



2,107

0.06

4,653

0.13

EUR



999

0.03

2,722

0.07

EUR



3,020

0.08

4,570

0.13

EUR



4,012

0.11

3,536

0.10

EUR



4,086

0.11

2,969

0.08

EUR



3,881

0.11

2,945

0.08

EUR



5,299

0.14

2,573

0.07

EUR

1,600,000 Telia Co AB 1.625% 23/02/2035^

1,476

0.04

EUR

1,050,000 Telia Co AB 3% 07/09/2027

1,187

0.03

EUR

1,500,000 Telia Co AB 3.5% 05/09/2033

1,787

0.05

EUR

2,800,000 Telia Co AB 3.625% 14/02/2024

3,229

0.09

EUR

2,225,000 Telia Co AB 3.875% 01/10/2025^

2,633

0.07

EUR

1,000,000 Telia Co AB 4.25% 18/02/2020

1,063

0.03

EUR

2,463,000 Telia Co AB 4.75% 16/11/2021

2,818

0.08

81,373

2.22


4,481

0.12


1,737

0.05


2,580

0.07

4,728

0.13

EUR


4,931

0.13

EUR


5,967

0.16

EUR

EUR



EUR

4,200,000 Telefonica Emisiones SAU 4.71% 20/01/2020 Total Spain

Total Sweden Switzerland (28 February 2018: 1.99%)

4,478

0.12

149,649

4.08

Corporate Bonds EUR

3,300,000 Credit Suisse AG 1% 07/06/2023

3,371

0.09

EUR

4,427,000 Credit Suisse AG 1.125% 15/09/2020

4,535

0.12

EUR

6,314,000 Credit Suisse AG 1.375% 29/11/2019

6,435

0.17

EUR

5,636,000 Credit Suisse AG 1.375% 31/01/2022

5,840

0.16

EUR

4,900,000 Credit Suisse AG 1.5% 10/04/2026

Sweden (28 February 2018: 2.23%) Corporate Bonds EUR


Sweden (28 February 2018: 2.23%) (cont)

Spain (28 February 2018: 4.23%) (cont) EUR

Holding Investment

Fair value €'000

775,000 Nordea Bank AB 0.875% 26/06/2023

775

0.02

5,097

0.14

EUR

4,178,000 Nordea Bank AB 1% 22/02/2023

4,301

0.12

EUR

EUR

4,107,000 Nordea Bank AB 1.125% 12/02/2025

2,777,000 Credit Suisse AG 4.75% 05/08/2019

2,904

0.08

4,246

0.12

EUR

3,200,000 Nordea Bank AB 1.125% 27/09/2027

3,910,000 Credit Suisse Group AG 1.25% 17/07/2025

3,866

0.11

3,263

0.09

EUR

3,300,000 UBS AG 0.125% 05/11/2021

3,295

0.09

EUR

3,950,000 Nordea Bank AB 2% 17/02/2021

4,149

0.11

EUR

2,800,000 UBS AG 0.25% 10/01/2022

2,797

0.08

EUR

3,450,000 Nordea Bank AB 3.25% 05/07/2022

EUR

2,075,000 UBS AG 0.625% 23/01/2023

2,084

0.06

EUR

3,944,000 UBS AG 1.125% 30/06/2020

4,033

0.11

EUR

141,000 UBS AG 1.25% 03/09/2021

146

0.00

EUR

4,545,000 UBS AG 1.25% 03/09/2021

4,697

0.13

EUR

EUR EUR EUR

5,245,000 Nordea Bank AB 4% 29/06/2020 2,163,000 Nordea Bank AB 4% 29/03/2021 3,154,000 Nordea Bank AB 4.5% 26/03/2020

3,848 5,643 2,361 3,369

0.11 0.15 0.06 0.09


[161]

iSHARES PLC


Ccy

Holding Investment

Fair value €'000


Ccy




EUR EUR EUR EUR



Switzerland (28 February 2018: 1.99%) (cont) EUR

Holding Investment

Fair value €'000

EUR


3,925,000 UBS Group Funding Switzerland AG 1.25% 17/04/2025

3,262

0.09

3,920

0.11

EUR



2,357

0.06

4,132

0.11

EUR



4,838

0.13

5,554

0.15

EUR



3,558

0.10

4,331

0.12

EUR



4,020

0.11

3,810

0.10

EUR

70,847

1.93


2,438

0.07

EUR


2,036

0.06

EUR


3,038

0.08

EUR


2,246

0.06

EUR

3,600,000 BP Capital Markets Plc 2.213% 25/09/2026^

3,883

0.11

EUR


1,808

0.05

EUR


2,955

0.08

EUR


2,471

0.07

EUR

2,125,000 British Telecommunications Plc 0.5% 23/06/2022

2,129

0.06

EUR


Total Switzerland

United Kingdom (28 February 2018: 9.91%) Corporate Bonds EUR

1,000,000 Barclays Bank Plc 2.125% 24/02/2021

EUR


EUR

4,300,000 Barclays Bank Plc 6% 14/01/2021

EUR


3,409

0.09

EUR

2,000,000 Barclays Plc 0.625% 14/11/2023

1,938

0.05

EUR

3,475,000 Barclays Plc 1.375% 24/01/2026

3,315

0.09

1,049 1,833 4,782

0.03 0.05 0.13

EUR

3,558,000 Barclays Plc 1.5% 01/04/2022

3,632

0.10

EUR

2,300,000 Barclays Plc 1.5% 03/09/2023

2,297

0.06

EUR

6,075,000 Barclays Plc 1.875% 23/03/2021

6,304

0.17

5,544

0.15

EUR

2,940,000 Barclays Plc 1.875% 08/12/2023

2,995

0.08

EUR

EUR

2,061,000 BAT International Finance Plc 0.875% 13/10/2023

3,775,000 British Telecommunications Plc 1% 21/11/2024

3,738

0.10

2,066

0.06

EUR

850,000 BAT International Finance Plc 1% 23/05/2022


4,409

0.12

865

0.02

EUR

2,131,000 BAT International Finance Plc 1.25% 13/03/2027^


2,508

0.07

2,062

0.06

EUR

2,325,000 BAT International Finance Plc 2% 13/03/2045


4,502

0.12

1,934

0.05

EUR


1,750,000 FCE Bank Plc 0.869% 13/09/2021

1,749

0.05

3,382

0.09

EUR


1,400,000 FCE Bank Plc 1.114% 13/05/2020

1,421

0.04

3,272

0.09

EUR


2,969,000 FCE Bank Plc 1.134% 10/02/2022

2,974

0.08

2,678

0.07

EUR


2,353,000 FCE Bank Plc 1.528% 09/11/2020

2,414

0.07

2,138

0.06

EUR


1,800,000 FCE Bank Plc 1.615% 11/05/2023^

1,809

0.05

1,353

0.04

EUR

2,075,000 FCE Bank Plc 1.66% 11/02/2021

2,130

0.06

EUR

2,630,000 FCE Bank Plc 1.875% 24/06/2021

2,711

0.07

EUR

2,374,000 GlaxoSmithKline Capital Plc 0% 12/09/2020

2,378

0.07

EUR EUR EUR EUR EUR EUR EUR EUR EUR


EUR


EUR


EUR


EUR


[162]


2,361 2,177

0.06 0.06 EUR

2,584 1,767 2,022

252

0.01

EUR


2,529

0.07

EUR


2,349

0.06

0.07 0.05 0.06

250,000 GlaxoSmithKline Capital Plc 0.625% 02/12/2019

iSHARES PLC


Ccy

Holding Investment

Fair value €'000


Ccy




EUR EUR EUR EUR

3,630

0.10

0.09

EUR



4,502

0.12

1,265

0.03

EUR



5,061

0.14

1,602

0.04

EUR



1,912

0.05

3,632

0.10

EUR

4,685,000 HSBC Bank Plc 4% 15/01/2021

5,125

0.14

5,682,000 Royal Bank of Scotland Group Plc 2.5% 22/03/2023^

5,951

0.16

EUR


2,227

0.06

EUR

2,950,000 Santander UK Plc 0.875% 13/01/2020

2,987

0.08

EUR

2,525,000 Santander UK Plc 0.875% 25/11/2020

2,570

0.07

EUR

2,860,000 Santander UK Plc 1.125% 14/01/2022

2,926

0.08

EUR

2,925,000 Santander UK Plc 1.125% 10/03/2025

2,942

0.08

EUR

1,950,000 Santander UK Plc 2.625% 16/07/2020

2,045

0.06

EUR

5,078,000 Sky Plc 1.5% 15/09/2021

5,263

0.14

EUR

2,790,000 Sky Plc 1.875% 24/11/2023

2,943

0.08

EUR

1,700,000 Sky Plc 2.25% 17/11/2025

1,826

0.05

EUR

3,020,000 Sky Plc 2.5% 15/09/2026

3,264

0.09

EUR


EUR EUR EUR

3,350,000 Natwest Markets Plc 5.5% 23/03/2020

3,450


EUR

EUR


EUR

EUR



United Kingdom (28 February 2018: 9.91%) (cont) EUR

Holding Investment

Fair value €'000

4,175,000 HSBC Holdings Plc 2.5% 15/03/2027^ 4,610,000 HSBC Holdings Plc 3% 30/06/2025 3,400,000 HSBC Holdings Plc 3.125% 07/06/2028^ 680,000 Lloyds Bank Plc 0.625% 20/04/2020 4,292,000 Lloyds Bank Plc 1% 19/11/2021

5,827 7,761 4,519 5,026 3,691 688 4,406

0.16 0.21 0.12 0.14 0.10 0.02 0.12

EUR

2,300,000 Lloyds Bank Plc 1.25% 13/01/2025^

EUR

4,700,000 Lloyds Bank Plc 1.375% 08/09/2022^

4,876

0.13

EUR

3,129,000 Lloyds Bank Plc 5.375% 03/09/2019

2,275,000 Standard Chartered Plc 0.75% 03/10/2023

2,245

0.06

3,303

0.09

EUR

4,936,000 Lloyds Bank Plc 6.5% 24/03/2020


2,753

0.08

5,414

0.15

EUR



1,723

0.05

2,280

0.06

EUR



1,827

0.05

1,360

0.04

EUR



2,170

0.06

2,010

0.05

EUR

1,633,000 Lloyds Banking Group Plc 1% 09/11/2023


3,314

0.09

1,611

0.04

EUR



2,837

0.08

2,225

0.06

EUR

2,100,000 Nationwide Building Society 0.625% 19/04/2023


1,549

0.04

2,106

0.06

EUR



2,038

0.06

2,339

0.06

EUR


5,820,000 Vodafone Group Plc 1% 11/09/2020

5,923

0.16

3,960

0.11

EUR



4,618

0.13

1,082

0.03

EUR



1,041

0.03

2,688

0.07

EUR



3,753

0.10

1,728

0.05

EUR



3,719

0.10

1,988

0.05

EUR



3,759

0.10

8,070

0.22

EUR


1,984

0.05


2,341

0.06


[163]

iSHARES PLC


Ccy

Holding Investment

Fair value €'000


Ccy




EUR EUR EUR

EUR



5,313

0.14

5,385

0.15

EUR

1,650,000 Vodafone Group Plc 2.875% 20/11/2037^


4,218

0.11

1,644

0.04

EUR



5,044

0.14

5,394

0.15

EUR


3,050,000 BAT Capital Corp 1.125% 16/11/2023

3,088

0.08

2,139

0.06

EUR

352,908

9.61


2,810

0.08

EUR


1,722

0.05

EUR


3,044

0.08

EUR


3,886

0.11

EUR


2,651

0.07

EUR


3,158

0.09

EUR


2,743

0.07

EUR

3,989,000 BMW US Capital LLC 0.625% 20/04/2022

4,045

0.11

EUR

2,300,000 BMW US Capital LLC 1% 20/04/2027

2,257

0.06

EUR

3,367,000 BMW US Capital LLC 1.125% 18/09/2021

3,469

0.09

EUR

4,075,000 Booking Holdings Inc 0.8% 10/03/2022

4,142

0.11

EUR


4,498

0.12

EUR


2,506

0.07

EUR


2,262

0.06

EUR

6,325,000 Citigroup Inc 0.75% 26/10/2023

6,287

0.17

EUR

3,623,000 Citigroup Inc 1.375% 27/10/2021

3,758

0.10

EUR

1,775,000 Citigroup Inc 1.5% 24/07/2026

1,777

0.05

EUR

3,175,000 Citigroup Inc 1.5% 26/10/2028

3,110

0.08

EUR

2,425,000 Citigroup Inc 1.625% 21/03/2028

2,405

0.07

EUR

4,300,000 Citigroup Inc 1.75% 28/01/2025

4,454

0.12

EUR

2,400,000 Citigroup Inc 2.125% 10/09/2026

2,530

0.07

EUR

2,164,000 Citigroup Inc 2.375% 22/05/2024

2,330

0.06

EUR

5,690,000 Citigroup Inc 5% 02/08/2019

5,955

0.16

EUR

5,447,000 Citigroup Inc 7.375% 04/09/2019

5,857

0.16

EUR

1,475,000 Coca-Cola Co 0.5% 08/03/2024

1,472

0.04

EUR

4,710,000 Coca-Cola Co 0.75% 09/03/2023

4,794

0.13

EUR

1,950,000 Coca-Cola Co 1.1% 02/09/2036^

1,758

0.05

EUR

2,950,000 Coca-Cola Co 1.125% 22/09/2022

3,057

0.08

EUR

4,100,000 Coca-Cola Co 1.125% 09/03/2027

4,121

0.11

EUR

4,500,000 Coca-Cola Co 1.625% 09/03/2035

4,455

0.12


United States (28 February 2018: 19.00%) Corporate Bonds EUR

3,875,000 AbbVie Inc 0.375% 18/11/2019

3,893

0.11

EUR

3,966,000 AbbVie Inc 1.375% 17/05/2024

4,025

0.11

EUR

200,000 AbbVie Inc 2.125% 17/11/2028

203

0.01

EUR

2,060,000 AbbVie Inc 2.125% 17/11/2028

2,089

0.06

EUR

4,400,000 Apple Inc 0.875% 24/05/2025

4,476

0.12

EUR

145,000 Apple Inc 1% 10/11/2022

151

0.00

EUR

4,500,000 Apple Inc 1% 10/11/2022

4,672

0.13

EUR

2,501,000 Apple Inc 1.375% 17/01/2024

2,629

0.07

EUR

3,300,000 Apple Inc 1.375% 24/05/2029

3,379

0.09

EUR

4,543,000 Apple Inc 1.625% 10/11/2026

4,819

0.13

EUR

3,100,000 Apple Inc 2% 17/09/2027

3,379

0.09

EUR

4,550,000 AT&T Inc 1.3% 05/09/2023

4,637

0.13

EUR

5,195,000 AT&T Inc 1.45% 01/06/2022

5,365

0.15

EUR

4,175,000 AT&T Inc 1.8% 05/09/2026

4,204

0.11

EUR

2,450,000 AT&T Inc 1.875% 04/12/2020

2,544

0.07

EUR

3,950,000 AT&T Inc 2.35% 05/09/2029

3,984

0.11

EUR

4,152,000 AT&T Inc 2.4% 15/03/2024

4,445

0.12

EUR

3,950,000 AT&T Inc 2.45% 15/03/2035

3,654

0.10

EUR

3,800,000 AT&T Inc 2.5% 15/03/2023

4,091

0.11

EUR

2,300,000 AT&T Inc 2.6% 17/12/2029

2,384

0.06

EUR

2,650,000 AT&T Inc 2.65% 17/12/2021

2,840

0.08

EUR

5,315,000 AT&T Inc 3.15% 04/09/2036

5,321

0.14

EUR

1,900,000 AT&T Inc 3.375% 15/03/2034

2,008

0.05

EUR

3,500,000 AT&T Inc 3.5% 17/12/2025

3,989

0.11

EUR

4,250,000 AT&T Inc 3.55% 17/12/2032^

4,663

0.13

EUR



[164]




Holding Investment

Fair value €'000


3,341 5,102

0.09 0.14


4,620

0.13


2,211

0.06

3,200,000 Bank of America Corp 1.379% 07/02/2025^ 4,891,000 Bank of America Corp 1.625% 14/09/2022 3,375,000 Bank of America Corp 1.662% 25/04/2028


3,251 5,113 3,389

0.09 0.14 0.09

iSHARES PLC


Ccy

Holding Investment

Fair value €'000


Ccy




EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR



United States (28 February 2018: 19.00%) (cont) EUR

Holding Investment

Fair value €'000

EUR


3,764,000 Coca-Cola Co 1.875% 22/09/2026

3,616

0.10

4,039

0.11

EUR



1,286

0.03

1,441

0.04

EUR



5,152

0.14

6,141

0.17

EUR



3,388

0.09

5,451

0.15

EUR


5,100,000 Johnson & Johnson 0.25% 20/01/2022

5,144

0.14

3,320

0.09

EUR


1,767,000 Johnson & Johnson 0.65% 20/05/2024

1,797

0.05

5,977

0.16

EUR

4,600,000 General Electric Co 1.875% 28/05/2027^

2,500,000 Johnson & Johnson 1.15% 20/11/2028

2,545

0.07

4,738

0.13

EUR


4,756,000 Johnson & Johnson 1.65% 20/05/2035

4,953

0.13

5,791

0.16

EUR



5,799

0.16

2,648

0.07

EUR



4,619

0.13

3,972

0.11

EUR



4,982

0.14

3,043

0.08

EUR



4,532

0.12

6,960

0.19

EUR



5,112

0.14

6,517

0.18

EUR



6,077

0.17

4,206

0.11

EUR

1,650,000 Goldman Sachs Group Inc 2% 22/03/2028^


2,027

0.06

1,668

0.05

EUR



2,512

0.07

1,918

0.05

EUR



5,278

0.14

2,825

0.08

EUR



5,691

0.15

3,543

0.10

EUR



3,616

0.10

3,120

0.08

EUR



3,122

0.09

3,054

0.08

EUR


3,600,000 JPMorgan Chase & Co 3% 19/02/2026

4,077

0.11

3,364

0.09

EUR



4,973

0.14

3,376

0.09

EUR


2,100,000 McDonald's Corp 0.5% 15/01/2021

2,123

0.06

3,263

0.09

EUR


2,500,000 McDonald's Corp 0.625% 29/01/2024

2,487

0.07

3,970

0.11

EUR

3,500,000 McDonald's Corp 1% 15/11/2023

3,558

0.10

EUR

2,400,000 McDonald's Corp 1.125% 26/05/2022

2,469

0.07

EUR

1,700,000 McDonald's Corp 1.5% 28/11/2029

1,687

0.05

EUR

3,600,000 McDonald's Corp 1.75% 03/05/2028

3,717

0.10

EUR

2,100,000 McDonald's Corp 2.375% 27/11/2024^

2,291

0.06

EUR

1,850,000 Merck & Co Inc 0.5% 02/11/2024

1,840

0.05

EUR


EUR


EUR


EUR


EUR


3,343 2,902 2,478 2,545 2,443

0.09 0.08 0.07 0.07 0.07


[165]

iSHARES PLC


Ccy

Holding Investment

Fair value €'000


Ccy




EUR EUR EUR EUR



United States (28 February 2018: 19.00%) (cont) EUR

Holding Investment

Fair value €'000

EUR


2,750,000 Merck & Co Inc 1.125% 15/10/2021

1,195

0.03

2,838

0.08

EUR

1,825,000 Merck & Co Inc 1.375% 02/11/2036

2,350,000 Procter & Gamble Co 2% 05/11/2021

2,500

0.07

1,760

0.05

EUR

3,060,000 Merck & Co Inc 1.875% 15/10/2026^

3,069,000 Procter & Gamble Co 2% 16/08/2022

3,295

0.09

3,290

0.09

EUR

1,550,000 Merck & Co Inc 2.5% 15/10/2034

1,752

0.05


2,024

0.06

EUR


4,373

0.12

EUR

3,000,000 Prologis Euro Finance LLC 1.875% 05/01/2029

3,018

0.08

EUR

1,000,000 Prologis LP 1.375% 07/10/2020

1,025

0.03

4,800,000 Microsoft Corp 2.125% 06/12/2021

5,113

0.14

EUR

2,050,000 Microsoft Corp 2.625% 02/05/2033^

EUR

5,320,000 Microsoft Corp 3.125% 06/12/2028

6,433

0.18

EUR

2,000,000 Prologis LP 1.375% 13/05/2021

2,063

0.06

EUR

3,375,000 Morgan Stanley 1% 02/12/2022

3,432

0.09

EUR

1,000,000 Prologis LP 3% 02/06/2026

1,121

0.03

EUR

2,996,000 Morgan Stanley 1.342% 23/10/2026

EUR

1,000,000 Prologis LP 3.375% 20/02/2024^

1,129

0.03

2,954

0.08

EUR

4,150,000 Morgan Stanley 1.375% 27/10/2026


3,862

0.11

4,073

0.11

EUR

5,100,000 Morgan Stanley 1.75% 11/03/2024

1,800,000 Thermo Fisher Scientific Inc 1.375% 12/09/2028^

1,754

0.05

5,292

0.14

EUR

4,250,000 Morgan Stanley 1.75% 30/01/2025^


2,500

0.07

4,372

0.12

EUR

4,150,000 Morgan Stanley 1.875% 30/03/2023


1,001

0.03

4,355

0.12

EUR

6,002,000 Morgan Stanley 1.875% 27/04/2027


1,013

0.03

6,101

0.17

EUR

4,054,000 Morgan Stanley 2.375% 31/03/2021

4,200,000 Thermo Fisher Scientific Inc 2% 15/04/2025

4,449

0.12

4,292

0.12

EUR

5,050,000 Morgan Stanley 5.375% 10/08/2020


2,507

0.07

5,574

0.15

EUR

2,550,000 Nestle Holdings Inc 0.875% 18/07/2025


1,495

0.04

2,586

0.07

EUR



3,779

0.10

491

0.01

EUR


3,350,000 Toyota Motor Credit Corp 1% 09/03/2021^

3,438

0.09

4,266

0.12

EUR


2,830,000 Toyota Motor Credit Corp 1% 10/09/2021

2,911

0.08

1,588

0.04

EUR



2,627

0.07

1,652

0.04

EUR

1,630,000 Philip Morris International Inc 2% 09/05/2036


2,181

0.06

1,568

0.04

EUR



2,310

0.06

3,154

0.09

EUR



2,993

0.08

2,226

0.06

EUR


3,700,000 Verizon Communications Inc 1.375% 02/11/2028^

3,569

0.10

2,965

0.08

EUR



2,306

0.06

1,681

0.05

EUR

2,000,000 Philip Morris International Inc 3.125% 03/06/2033^


2,646

0.07

2,288

0.06

EUR

2,300,000 Procter & Gamble Co 0.5% 25/10/2024^


4,583

0.12

2,303

0.06

EUR



3,046

0.08

3,926

0.11

EUR


4,965

0.14

EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR EUR

[166]


2,416

0.07

iSHARES PLC


Ccy

Holding Investment

Fair value €'000


Bonds (28 February 2018: 98.84%) (cont) United States (28 February 2018: 19.00%) (cont) Corporate Bonds (cont) EUR


4,685

0.13

EUR

6,595,000 Wells Fargo & Co 1% 02/02/2027

6,330

0.17

EUR

3,710,000 Wells Fargo & Co 1.125% 29/10/2021

3,819

0.10

EUR

7,011,000 Wells Fargo & Co 1.375% 26/10/2026

6,986

0.19

EUR

4,250,000 Wells Fargo & Co 1.5% 12/09/2022

4,426

0.12

EUR

4,400,000 Wells Fargo & Co 1.5% 24/05/2027

4,378

0.12

EUR

3,200,000 Wells Fargo & Co 1.625% 02/06/2025^

3,294

0.09

EUR

4,701,000 Wells Fargo & Co 2% 27/04/2026^

4,924

0.13

EUR

2,500,000 Wells Fargo & Co 2.125% 04/06/2024

2,668

0.07

EUR

2,100,000 Wells Fargo & Co 2.25% 03/09/2020

2,196

0.06

EUR

3,900,000 Wells Fargo & Co 2.25% 02/05/2023

4,179

0.11

EUR

5,050,000 Wells Fargo & Co 2.625% 16/08/2022


Fair value €'000



3,197,529

86.80


387,969

10.53

Other transferable securities of the type referred to in Regulation 68(1)(a), (b) and(c)

53,969

1.47

4,293

0.12

UCITS collective investment schemes Money Market Funds Other assets

5,486

0.15

682,163

18.58

Total bonds

3,639,467

99.15


3,639,467

99.15

Total United States


39,902

1.08

3,683,662

100.00

Cash equivalents (28 February 2018: 0.13%) UCITS collective investment schemes - Money Market Funds (28 February 2018: 0.13%) EUR

4,293,389 Institutional Cash Series Plc Institutional Euro Liquidity Fund*

4,293

Cash†

308

0.01

26,574

0.72

3,670,642

100.00

Other net assets Net asset value attributable to redeemable participating shareholders at the end of the financial period

0.12

Substantially all cash positions are held with State Street Bank and Trust Company. ^ These securities are partially or fully transferred as securities lent. * Investment in related party. †



[167]

iSHARES PLC

Schedule of Investments (unaudited) (continued) iSHARES € GOVT BOND 1-3yr UCITS ETF As at 31 August 2018

Ccy

Holding Investment

Fair value €'000


Investment

Fair value €'000


299

0.02

33

0.01

1,230,271

100.00

Cash†


Other net assets Bonds (28 February 2018: 94.50%) France (28 February 2018: Nil)

Net asset value attributable to redeemable participating shareholders at the end of the financial period/year

Government Bonds EUR 173,290,000 French Republic Government Bond OAT 0% 25/02/2020

174,722

EUR 169,850,000 French Republic Government Bond OAT 0% 25/02/2021 Total France

171,755

13.96

346,477

28.16

† Substantially

all cash positions are held with State Street Bank and Trust Company. ^ These securities are partially or fully transferred as securities lent. * Investment in related party.

Germany (28 February 2018: 19.86%)

Fixed income securities are primarily classified by country of issuer for

Government Bonds

government type fixed income securities.

EUR

90,730,000 Bundesschatzanweisungen 0% 13/09/2019^

EUR

86,430,000 Bundesschatzanweisungen 0% 13/12/2019

87,149

EUR 116,100,000 Bundesschatzanweisungen 0% 13/03/2020

117,229

EUR

14.20

67,080,000 Bundesschatzanweisungen 0% 12/06/2020 Total Germany

91,338

7.43 7.08


Fair value €'000


9.53


1,229,556

99.92

67,829

5.51

UCITS collective investment schemes Money Market Funds

383

0.03

363,545

29.55

Other assets

544

0.05

1,230,483

100.00

Total current assets Italy (28 February 2018: 63.28%) Government Bonds EUR 101,480,000 Italy Buoni Poliennali Del Tesoro 0.05% 15/10/2019

100,509

8.17

89,440,000 Italy Buoni Poliennali Del Tesoro 0.05% 15/04/2021

85,191

6.92

EUR 127,280,000 Italy Buoni Poliennali Del Tesoro 0.2% 15/10/2020

123,631

10.05

EUR

EUR

95,030,000 Italy Buoni Poliennali Del Tesoro 0.35% 15/06/2020^

93,229

7.58

402,560

32.72

EUR 116,530,000 Spain Government Bond 0.05% 31/01/2021

116,974

9.51

Total Spain

116,974

9.51

Total bonds

1,229,556

99.94

Total Italy Spain (28 February 2018: 11.36%) Government Bonds

Cash equivalents (28 February 2018: 0.35%) UCITS collective investment schemes - Money Market Funds (28 February 2018: 0.35%) EUR

383,101 Institutional Cash Series Plc Institutional Euro Liquidity Fund* Total value of investments

[168]


383

0.03

1,229,556

99.94

iSHARES PLC

Schedule of Investments (unaudited) (continued) iSHARES € HIGH YIELD CORP BOND UCITS ETF As at 31 August 2018

Ccy

Holding Investment

Fair value €'000


Ccy


Holding Investment

Fair value €'000


Curacao (28 February 2018: 0.05%) Czech Republic (28 February 2018: 0.42%)

Bonds (28 February 2018: 97.57%)

Corporate Bonds

Austria (28 February 2018: 0.80%) Corporate Bonds EUR

EUR

5,300,000 Raiffeisenlandesbank Niederoesterreich-Wien AG 5.875% 27/11/2023^

EUR

6,800,000 Energo-Pro AS 4% 07/12/2022^

6,709

0.15

EUR

4,500,000 Energo-Pro AS 4.5% 04/05/2024

4,265

0.10

11,805,000 Residomo Sro 3.375% 15/10/2024^

11,877

0.26

Total Czech Republic

22,851

0.51

EUR 6,015

0.13

7,900,000 Sappi Papier Holding GmbH 3.375% 01/04/2022^

8,028

0.18

6,200,000 Sappi Papier Holding GmbH 4% 01/04/2023^

6,412

0.14

EUR

3,675,000 Wienerberger AG 2% 02/05/2024

3,772

0.08

EUR

EUR

6,173,000 Wienerberger AG 4% 17/04/2020^

17,141

0.38

6,542

0.15

EUR

5,958,000 Norican A/S 4.5% 15/05/2023^

5,654

0.12

30,769

0.68

EUR

8,496,000 TDC A/S 3.75% 02/03/2022

9,304

0.21

Total Denmark

32,099

0.71

EUR

Total Austria

Denmark (28 February 2018: 0.14%) Corporate Bonds 16,100,000 DKT Finance ApS 7% 17/06/2023^

Belgium (28 February 2018: 0.40%) Corporate Bonds EUR EUR

500,000 Barry Callebaut Services NV 2.375% 24/05/2024^ 6,800,000 Barry Callebaut Services NV 2.375% 24/05/2024^

EUR

5,050,000 Barry Callebaut Services NV 5.625% 15/06/2021^

EUR

4,200,000 Sarens Finance Co NV 5.125% 05/02/2022^ Total Belgium

Finland (28 February 2018: 1.47%) 522 7,099 5,779

Corporate Bonds

0.01 0.16

EUR

8,225,000 Nokia Oyj 1% 15/03/2021^

8,339

0.19

EUR

13,525,000 Nokia Oyj 2% 15/03/2024^

13,841

0.31

EUR

5,025,000 Outokumpu Oyj 4.125% 18/06/2024^

5,052

0.11

EUR

6,475,000 Stora Enso Oyj 2.125% 16/06/2023^

6,872

0.15

EUR

5,000,000 Stora Enso Oyj 2.5% 07/06/2027

5,215

0.12

EUR

4,975,000 Stora Enso Oyj 2.5% 21/03/2028^

5,131

0.11

EUR

6,750,000 Teollisuuden Voima Oyj 2% 08/05/2024^

0.13

4,078

0.09

17,478

0.39

Brazil (28 February 2018: 0.57%) Corporate Bonds

6,776

0.15

EUR

8,700,000 BRF SA 2.75% 03/06/2022^

8,338

0.18

EUR

EUR

6,050,000 Votorantim Cimentos SA 3.5% 13/07/2022^

8,900,000 Teollisuuden Voima Oyj 2.125% 04/02/2025^

8,921

0.20

6,196

0.14

EUR

14,534

0.32


9,879

0.22

EUR


Total Brazil Bulgaria (28 February 2018: 0.62%)

Total Finland

Corporate Bonds

8,713

0.19

78,739

1.75

EUR

9,500,000 Bulgarian Energy Holding EAD 3.5% 28/06/2025

9,501

0.21

EUR

8,712,000 Bulgarian Energy Holding EAD 4.25% 07/11/2018^

8,759

0.19

EUR

9,175,000 Bulgarian Energy Holding EAD 4.875% 02/08/2021^

4,827

0.11

9,877

0.22

EUR

28,137

0.62

22,062,000 Altice France SA 5.625% 15/05/2024^

23,064

0.51

EUR

15,950,000 Altice France SA 5.875% 01/02/2027^

EUR

Total Bulgaria

France (28 February 2018: 14.82%) Corporate Bonds

16,495

0.37

EUR

5,295,000 Autodis SA 4.375% 01/05/2022^

5,371

0.12

EUR

7,182,000 Autodis SA FRN 4.375% 01/05/2022^

7,250

0.16

EUR

7,190,000 Banijay Group SAS 4% 01/07/2022^

7,455

0.17

Canada (28 February 2018: 0.71%) Corporate Bonds EUR EUR

26,476,000 Bausch Health Cos Inc 4.5% 15/05/2023^ 7,850,000 Cott Corp 5.5% 01/07/2024^ Total Canada

25,842

0.57

8,328

0.19

34,170

0.76

5,050,000 3AB Optique Developpement SAS 4% 01/10/2023^


[169]

iSHARES PLC

Schedule of Investments (unaudited) (continued) iSHARES € HIGH YIELD CORP BOND UCITS ETF (continued) As at 31 August 2018

Ccy

Holding Investment

Fair value €'000


Ccy




EUR EUR EUR

5,275,000 Burger King France SAS 6% 01/05/2024^

0.00

5,425,000 Burger King France SAS FRN 5.25% 01/05/2023^

5,475

0.12

11,100,000 Casino Guichard Perrachon SA 1.865% 13/06/2022^

EUR


EUR EUR EUR

9,500,000 Casino Guichard Perrachon SA 4.407% 06/08/2019^ 16,200,000 Casino Guichard Perrachon SA 4.498% 07/03/2024^

1,610 9,405 6,561 9,224 14,204

0.04

0.15 0.20

0.27


10,395

0.23

EUR


6,459 15,120

5,250,000 Louvre Bidco SAS 4.25% 30/09/2024^

4,925

0.11

EUR

4,750,000 Loxam SAS 3.5% 15/04/2022^

4,898

0.11

EUR

4,425,000 Loxam SAS 3.5% 03/05/2023^

4,563

0.10

EUR

5,164,000 Loxam SAS 4.25% 15/04/2024^

5,441

0.12

EUR

5,000,000 Loxam SAS 4.875% 23/07/2021^

2,960

0.07

EUR

4,385,000 Loxam SAS 6% 15/04/2025^

4,660

0.10

EUR

4,550,000 Loxam SAS 7% 23/07/2022^

4,266

0.09

EUR

6,500,000 Mobilux Finance SAS 5.5% 15/11/2024^

6,322

0.14

EUR

4,500,000 Nexans SA 3.25% 26/05/2021^

4,760

0.11

EUR

3,300,000 Nexans SA 3.75% 08/08/2023^

3,400

0.08

EUR

5,300,000 Novafives SAS 5% 15/06/2025^

5,068

0.11

EUR

4,875,000 Novafives SAS FRN 4.5% 15/06/2025^

4,747

0.11

0.31

12,268


EUR

0.21


EUR

EUR

0.12

101

EUR

EUR

5,615

100,000 Burger King France SAS FRN 5.25% 01/05/2023^


0.14 0.34

EUR

14,500,000 Orano SA 3.125% 20/03/2023^

14,607

0.32

EUR

7,800,000 Orano SA 3.25% 04/09/2020^

8,134

0.18

EUR

14,000,000 Orano SA 3.5% 22/03/2021^

14,736

0.33

EUR

13,100,000 Orano SA 4.375% 06/11/2019^

13,707

0.30

EUR

9,787

0.22

11,877,000 Peugeot SA 2% 23/03/2024^

12,117

0.27

EUR

11,700,000 Peugeot SA 2% 20/03/2025^

11,679

0.26

9,237,000 Peugeot SA 2.375% 14/04/2023^

9,769

0.22

7,400,000 Peugeot SA 6.5% 18/01/2019^

7,573

0.17

11,131

0.25

EUR

EUR

10,475,000 CMA CGM SA 6.5% 15/07/2022^

10,281

0.23

EUR

EUR

13,260,000 CMA CGM SA 7.75% 15/01/2021^

EUR

6,175,000 Crown European Holdings SA 2.25% 01/02/2023^ 10,400,000 Crown European Holdings SA 2.625% 30/09/2024^

EUR 13,384 6,296 10,531

0.23

8,800,000 Crown European Holdings SA 2.875% 01/02/2026^

EUR

10,888,000 Crown European Holdings SA 3.375% 15/05/2025^

EUR

10,987,000 Crown European Holdings SA 4% 15/07/2022^

12,057

0.27

EUR

10,800,000 Elis SA 1.875% 15/02/2023^

10,846

6,700,000 Elis SA 2.875% 15/02/2026^

6,715

EUR

22,319

0.49

8,900,000 Rexel SA 2.125% 15/06/2025^

8,687

0.19

EUR

5,950,000 Rexel SA 2.625% 15/06/2024^

6,070

0.13

EUR EUR

EUR

8,631 11,287

22,689,000 Picard Groupe SAS FRN 3% 30/11/2023^

EUR

0.30 0.14

9,700,000 Paprec Holding SA 4% 31/03/2025^

EUR

12,675,000 CMA CGM SA 5.25% 15/01/2025^

EUR

10,219,000 Rexel SA 3.5% 15/06/2023^ 9,405,000 SPCM SA 2.875% 15/06/2023^

10,252

0.23

9,700,000 Tereos Finance Groupe I SA 4.125% 16/06/2023^

9,077

0.20

EUR

9,100,000 Tereos Finance Groupe I SA 4.25% 04/03/2020^

9,079

0.20

0.24

EUR

8,600,000 Vallourec SA 2.25% 30/09/2024^

7,072

0.16

0.15

EUR

6,800,000 Vallourec SA 3.25% 02/08/2019^

6,935

0.15

6,025,000 Vallourec SA 6.375% 15/10/2023^

6,139

0.14

10,951,000 Vallourec SA 6.625% 15/10/2022^

11,441

0.25

5,987

0.13

0.25

14,139

0.31

EUR

12,575,000 Europcar Mobility Group 4.125% 15/11/2024^

12,567

0.28

EUR

9,609,000 Europcar Mobility Group 5.75% 15/06/2022^

9,885

0.22

EUR

12,250,000 Faurecia SA 2.625% 15/06/2025^

5,700,000 WFS Global Holding SAS 9.5% 15/07/2022^

12,548

0.28

EUR

12,640,000 Faurecia SA 3.625% 15/06/2023^

750,000 WFS Global Holding SAS 9.5% 15/07/2022^

13,147

0.29

Total France

EUR

10,975,000 Fnac Darty SA 3.25% 30/09/2023^

11,351

0.25

Germany (28 February 2018: 9.10%)

EUR

10,845,000 La Financiere Atalian SASU 4% 15/05/2024^

10,509

0.23

6,023

0.13

EUR

[170]

6,125,000 La Financiere Atalian SASU 5.125% 15/05/2025^


0.21

10,200,000 SPIE SA 3.125% 22/03/2024^

EUR

EUR

0.24

9,506

EUR

13,930,000 Elis SA 3% 30/04/2022^

EUR

10,603

EUR

0.19

EUR

EUR




Holding Investment

Fair value €'000

788

0.02

634,301

14.07

Corporate Bonds EUR

6,640,000 Adler Pelzer Holding GmbH 4.125% 01/04/2024^

6,659

0.15

EUR

8,675,000 Adler Real Estate AG 1.5% 06/12/2021^

8,746

0.19

iSHARES PLC


Ccy

Holding Investment

Fair value €'000


Ccy




EUR EUR EUR EUR EUR

21,685

0.48

0.18

EUR


13,725,000 ThyssenKrupp AG 1.75% 25/11/2020^

14,075

0.31

5,342

0.12

EUR

6,100,000 Adler Real Estate AG 3% 27/04/2026

10,825,000 ThyssenKrupp AG 2.5% 25/02/2025^

11,358

0.25

6,014

0.13

EUR

8,469,000 Bilfinger SE 2.375% 07/12/2019^

8,677

0.19

17,120,000 ThyssenKrupp AG 2.75% 08/03/2021^

17,911

0.40

EUR

19,612,000 ThyssenKrupp AG 3.125% 25/10/2019^

20,120

0.45

6,021

0.13

7,900,000 Blitz F18-674 GmbH 6% 30/07/2026 6,675,000 CTC BondCo GmbH 5.25% 15/12/2025^

7,940

0.18 EUR

6,581

0.15

21,891

0.48

EUR

13,200,000 Deutsche Bank AG 4.5% 19/05/2026^

EUR

6,550,000 Douglas GmbH 6.25% 15/07/2022^

EUR

8,125,000 Hapag-Lloyd AG 5.125% 15/07/2024^

8,186

0.18

EUR

6,795,000 Hapag-Lloyd AG 6.75% 01/02/2022^

7,059

0.16

EUR

5,568,000 Hornbach Baumarkt AG 3.875% 15/02/2020^

5,830

0.13

EUR EUR

10,671,000 K+S AG 2.625% 06/04/2023^ 8,000,000 K+S AG 3% 20/06/2022^ 7,947,000 K+S AG 3.125% 06/12/2018^ 10,800,000 K+S AG 3.25% 18/07/2024^

13,871 5,847

0.13

10,863

0.24

8,307

0.18

8,007

0.18

10,865

0.24

10,244

0.23

9,362,000 K+S AG 4.125% 06/12/2021^ 3,850,000 Kaefer Isoliertechnik GmbH & Co KG 5.5% 10/01/2024

3,992

0.09

5,150,000 Kirk Beauty One GmbH 8.75% 15/07/2023^

3,865

0.08

EUR

5,525,000 KME AG 6.75% 01/02/2023^

5,317

0.12

EUR

9,575,000 Metro AG 1.375% 28/10/2021^

9,845

0.22

EUR

9,778,000 Metro AG 1.5% 19/03/2025^

9,577

0.21

EUR

5,950,000 Nidda BondCo GmbH 5% 30/09/2025^ 12,675,000 Nidda Healthcare Holding GmbH 3.5% 30/09/2024^

17,255,000 Unitymedia Hessen GmbH & Co KG / Unitymedia NRW GmbH 4% 15/01/2025^

18,118

0.40

EUR

7,300,000 Unitymedia Hessen GmbH & Co KG / Unitymedia NRW GmbH 4.625% 15/02/2026^

7,130

0.16

EUR

7,650,000 WEPA Hygieneprodukte GmbH 3.75% 15/05/2024^ Total Germany

7,531

0.17

406,684

9.02

Guernsey (28 February 2018: 0.33%) Corporate Bonds

EUR

EUR

5,800,000 TUI AG 2.125% 26/10/2021^

EUR

0.31

EUR

EUR

21,491,000 ThyssenKrupp AG 1.375% 03/03/2022^

8,386

22,090,000 Deutsche Bank AG 2.75% 17/02/2025^

EUR

EUR


EUR

EUR



Germany (28 February 2018: 9.10%) (cont) EUR

Holding Investment

Fair value €'000

EUR

9,400,000 Globalworth Real Estate Investments Ltd 2.875% 20/06/2022^

9,657

0.21

EUR

9,150,000 Globalworth Real Estate Investments Ltd 3% 29/03/2025

9,140

0.20

EUR

6,000,000 Summit Germany Ltd 2% 31/01/2025^ Total Guernsey

5,799

0.13

12,599

0.28

5,676

0.13

24,473

0.54

Ireland (28 February 2018: 3.01%) Corporate Bonds EUR

7,150,000 ABH Financial Ltd Via Alfa Holding Issuance Plc 2.626% 28/04/2020

7,103

0.16

EUR

4,350,000 AIB Group Plc 1.5% 29/03/2023

4,344

0.10

EUR

13,522,000 Ardagh Packaging Finance Plc / Ardagh Holdings USA Inc 2.75% 15/03/2024^

13,671

0.30

EUR


8,133

0.18

EUR


13,938

0.31

6,440

0.14

EUR

9,290,000 Norddeutsche Landesbank Girozentrale 6% 29/06/2020^

9,954

0.22

EUR

5,125,000 Nordex SE 6.5% 01/02/2023^

4,863

0.11

EUR

7,325,000 Platin 1426 GmbH 5.375% 15/06/2023^

7,201

0.16

EUR

5,125,000 PrestigeBidCo GmbH 6.25% 15/12/2023

5,435

0.12

EUR

EUR

7,850,000 ProGroup AG 3% 31/03/2026^

7,856

0.17

EUR

EUR

5,475,000 Raffinerie Heide GmbH 6.375% 01/12/2022^

12,250,000 eircom Finance DAC 4.5% 31/05/2022^

12,525

0.28

5,304

0.12

EUR

6,150,000 Safari Verwaltungs GmbH 5.375% 30/11/2022^

6,247

0.14

16,900,000 Gazprombank OJSC Via GPB Eurobond Finance Plc 3.984% 30/10/2018

16,801

0.37

EUR

16,635,000 Gazprombank OJSC Via GPB Eurobond Finance Plc 4% 01/07/2019

16,693

0.37

EUR

1,000,000 Gazprombank OJSC Via GPB Eurobond Finance Plc 4% 01/07/2019

1,004

0.02

EUR EUR EUR

7,175,000 Senvion Holding GmbH 3.875% 25/10/2022^ 10,500,000 Tele Columbus AG 3.875% 02/05/2025^

6,253 9,313

0.14 0.21

4,800,000 Bank of Ireland 10% 19/12/2022^


[171]

iSHARES PLC


Ccy

Holding Investment

Fair value €'000


Ccy




EUR EUR EUR EUR EUR

EUR

9,300,000 Fabric BC SpA FRN 4.125% 30/11/2024^

8,906,000 Smurfit Kappa Acquisitions ULC 2.375% 01/02/2024^

9,162

0.20

9,229

0.21

EUR


8,725,000 Iccrea Banca SpA 1.5% 11/10/2022^

8,252

0.18

5,119

0.11

EUR

10,135,000 Smurfit Kappa Acquisitions ULC 2.875% 15/01/2026

9,350,000 Iccrea Banca SpA 1.5% 21/02/2020^

9,254

0.21

10,384

0.23

EUR


7,300,000 Iccrea Banca SpA 1.875% 25/11/2019^

7,313

0.16

8,590

0.19

EUR


7,600,000 Iccrea Banca SpA FRN 0.681% 01/02/2021^

7,318

0.16

6,693

0.15

EUR

5,150,000 Smurfit Kappa Acquisitions ULC FRN 3.179% 15/10/2020^

8,225,000 Intesa Sanpaolo SpA 2.855% 23/04/2025^

7,718

0.17

5,409

0.12

EUR

146,076

3.24

16,850,000 Intesa Sanpaolo SpA 5% 23/09/2019^

17,450

0.39

EUR


16,181

0.36

EUR


Total Ireland Italy (28 February 2018: 15.68%) Corporate Bonds EUR EUR


Italy (28 February 2018: 15.68%) (cont)

Ireland (28 February 2018: 3.01%) (cont) EUR

Holding Investment

Fair value €'000

4,500,000 Almaviva-The Italian Innovation Co SpA 7.25% 15/10/2022^

4,471

11,886,000 Astaldi SpA 7.125% 01/12/2020^

7,078

26,198

0.58

EUR

9,808,000 Leonardo SpA 1.5% 07/06/2024^

9,418

0.21

0.10

EUR

11,185,000 Leonardo SpA 4.5% 19/01/2021^

12,148

0.27

0.16

EUR

5,200,000 Limacorporate SpA FRN 3.75% 15/08/2023^

5,216

0.12

EUR

8,350,000 LKQ Italia Bondco SpA 3.875% 01/04/2024^

8,835

0.20

4,525,000 Marcolin SpA FRN 4.125% 15/02/2023^

5,950,000 Autostrada Brescia Verona Vicenza Padova SpA 2.375% 20/03/2020^

6,098

0.14

EUR

5,500,000 Banca IFIS SpA 2% 24/04/2023

5,167

0.11

EUR

EUR

15,650,000 Banca Monte dei Paschi di Siena SpA 3.625% 01/04/2019^

4,524

0.10

15,782

0.35

EUR

8,600,000 Banco BPM SpA 1.75% 24/04/2023^

11,118,000 Mediobanca Banca di Credito Finanziario SpA 5% 15/11/2020^

11,776

0.26

8,033

0.18

EUR

9,400,000 Banco BPM SpA 2.625% 21/09/2018^

9,406

0.21

10,975,000 Mediobanca Banca di Credito Finanziario SpA 5.75% 18/04/2023^

12,096

0.27

4,030

0.09

EUR

EUR EUR EUR EUR EUR EUR EUR EUR EUR

EUR 17,645

0.39

EUR

18,442,000 Banco BPM SpA 3.5% 14/03/2019^

13,400,000 Nexi Capital SpA 4.125% 01/11/2023^

13,407

0.30

18,614

0.41

EUR

22,400,000 Nexi Capital SpA FRN 3.625% 01/05/2023^

22,280

0.49

7,527

0.17

EUR

4,900,000 Piaggio & C SpA 3.625% 30/04/2025^

4,959

0.11

11,153

0.25

EUR

4,600,000 Banco BPM SpA 6.375% 31/05/2021^

3,950,000 Pro-Gest SpA 3.25% 15/12/2024^

3,708

0.08

4,819

0.11

EUR

7,530,000 Banco BPM SpA 7.125% 01/03/2021^

8,300,000 Salini Impregilo SpA 1.75% 26/10/2024^

7,139

0.16

7,980

0.18

EUR

4,700,000 Bormioli Pharma Bidco SpA FRN 3.5% 15/11/2024^

8,122,000 Salini Impregilo SpA 3.75% 24/06/2021^

8,245

0.18

4,597

0.10

EUR

5,850,000 Sisal Group SpA 7% 31/07/2023^

6,030

0.13

EUR

5,500,000 Sisal Group SpA FRN 6.625% 31/07/2022^

5,561

0.12

EUR

5,150,000 Snaitech SpA 6.375% 07/11/2021^

5,347

0.12

EUR

4,700,000 Snaitech SpA FRN 6% 07/11/2021^

4,724

0.11

EUR

8,700,000 TeamSystem SpA FRN 4% 15/04/2023^

8,722

0.19

EUR

17,825,000 Telecom Italia SpA 2.375% 12/10/2027^

16,720

0.37

EUR


14,289

0.32

7,450,000 Banco BPM SpA 4.25% 30/01/2019^ 10,815,000 Banco BPM SpA 6% 05/11/2020^

EUR

7,850,000 Buzzi Unicem SpA 2.125% 28/04/2023^

EUR

5,250,000 Buzzi Unicem SpA 6.25% 28/09/2018^

5,270

0.12

EUR

6,050,000 CMF SpA 9% 15/06/2022^

5,547

0.12

EUR

5,250,000 Cooperativa Muratori & Cementisti-CMC di Ravenna SC 6% 15/02/2023^

EUR

EUR

[172]

5,000,000 Moby SpA 7.75% 15/02/2023^

17,514,000 Banco BPM SpA 2.75% 27/07/2020^

8,026

4,152

0.18

0.09

4,035,000 Cooperativa Muratori & Cementisti-CMC di Ravenna SC 6.875% 01/08/2022^

3,374

0.08

6,550,000 EVOCA SpA 7% 15/10/2023^

6,968

0.15


iSHARES PLC


Ccy

Holding Investment

Fair value €'000


Ccy


Holding Investment

Fair value €'000


Jersey (28 February 2018: 1.12%) Corporate Bonds

Italy (28 February 2018: 15.68%) (cont) Corporate Bonds (cont)

EUR

17,817,000 Adient Global Holdings Ltd 3.5% 15/08/2024^


16,656

0.37

10,434

0.23

EUR

14,175,000 Telecom Italia SpA 3% 30/09/2025^

4,925,000 Avis Budget Finance Plc 4.125% 15/11/2024^

5,046

0.11

14,328

0.32

EUR


4,775,000 Avis Budget Finance Plc 4.5% 15/05/2025^

4,894

0.11

14,802

0.33

EUR


22,356

0.50

11,361

0.25

Total Jersey

48,952

1.09

EUR


14,512

0.32


EUR

10,000,000 Telecom Italia SpA 4% 21/01/2020^

10,490

0.23


7,963

0.18


9,197

0.20


6,705

0.15

EUR EUR EUR EUR


8,450,000 UniCredit SpA 6.125% 19/04/2021^

4,969

0.11

EUR

7,499,000 Altice Financing SA 5.25% 15/02/2023^

7,793

0.17

9,692

0.22

5,546

0.12

EUR EUR

12,311

0.27

0.63

EUR

8,100,000 Unione di Banche Italiane SpA 1.75% 12/04/2023^

36,406,000 Altice Luxembourg SA 7.25% 15/05/2022^

36,646

0.81

7,521

0.17

EUR

8,300,000 Unipol Gruppo SpA 3.5% 29/11/2027^

7,837

0.17

5,300,000 AnaCap Financial Europe SA SICAV-RAIF FRN 5% 01/08/2024^

4,795

0.11

EUR

5,900,000 Aramark International Finance Sarl 3.125% 01/04/2025^

6,106

0.14

EUR

6,617,000 ArcelorMittal 2.875% 06/07/2020

6,941

0.15

EUR

4,175,000 ArcelorMittal 3% 09/04/2021

4,434

0.10

EUR

3,341,000 ArcelorMittal 3.125% 14/01/2022

3,578

0.08

16,314,000 Unipol Gruppo SpA 3% 18/03/2025^

15,969 5,430

0.35 0.12

12,905,000 Altice Luxembourg SA 6.25% 15/02/2025^

7,071

0.16

EUR

25,127,000 Wind Tre SpA 2.625% 20/01/2023^

6,400,000 Arena Luxembourg Finance Sarl 2.875% 01/11/2024^

6,405

0.14

23,985

0.53

EUR

28,523,000 Wind Tre SpA 3.125% 20/01/2025^

5,350,000 Auris Luxembourg II SA 8% 15/01/2023^

5,562

0.12

26,609

0.59

EUR

36,457,000 Wind Tre SpA FRN 2.75% 20/01/2024^

8,250,000 BMBG Bond Finance SCA 3% 15/06/2021^

8,345

0.19

34,353

0.76

EUR

725,720

16.10

5,700,000 Cabot Financial Luxembourg II SA FRN 5.875% 15/11/2021^

5,759

0.13

EUR

2,400,000 CNH Industrial Finance Europe SA 1.375% 23/05/2022^

2,434

0.05

EUR


1,926

0.04

EUR


1,387

0.03

EUR


1,609

0.04

EUR

8,710,000 Codere Finance 2 Luxembourg SA 6.75% 01/11/2021^

8,157

0.18

EUR

7,500,000 ContourGlobal Power Holdings SA 3.375% 01/08/2023^

7,509

0.17

EUR

6,550,000 ContourGlobal Power Holdings SA 4.125% 01/08/2025

6,547

0.15

EUR

5,700,000 Corestate Capital Holding SA 3.5% 15/04/2023^

5,581

0.12

EUR

5,760,000 Crystal Almond SARL 10% 01/11/2021

6,203

0.14

Total Italy Japan (28 February 2018: 1.57%) Corporate Bonds 22,571,000 SoftBank Group Corp 3.125% 19/09/2025^

EUR

9,375,000 SoftBank Group Corp 4% 30/07/2022^

EUR


EUR

5,300,000 Altice Finco SA 9% 15/06/2023^

28,198

8,175,000 UnipolSai Assicurazioni SpA 3.875% 01/03/2028

EUR

11,475,000 Altice Finco SA 4.75% 15/01/2028^

0.20

EUR

EUR

5,350,000 Aldesa Financial Services SA 7.25% 01/04/2021^

9,228

24,842,000 UniCredit SpA 6.95% 31/10/2022^

5,053,000 Unipol Gruppo SpA 4.375% 05/03/2021^

EUR

Corporate Bonds EUR

EUR

EUR

EUR

21,601,000 Lincoln Finance Ltd 6.875% 15/04/2021^

8,275,000 SoftBank Group Corp 4.5% 20/04/2025^

21,368 10,005

0.47 0.22

12,208

0.27

8,523

0.19

EUR

17,645,000 SoftBank Group Corp 4.75% 30/07/2025^

EUR


21,071

0.47

Total Japan

91,454

2.03

18,279

0.41


[173]

iSHARES PLC


Ccy

Holding Investment

Fair value €'000


Ccy


Holding Investment

Fair value €'000






EUR

11,900,000 SIG Combibloc Holdings SCA 7.75% 15/02/2023^

6,920,000 DEA Finance SA 7.5% 15/10/2022^

12,383

0.27

7,428

0.16

EUR

11,284,000 Dufry Finance SCA 4.5% 01/08/2023^

6,200,000 Swissport Financing Sarl 6.75% 15/12/2021^

6,451

0.14

11,691

0.26

EUR

4,900,000 Swissport Financing Sarl 9.75% 15/12/2022

5,304

0.12

7,683

0.17

EUR

5,180,000 Takko Luxembourg 2 SCA 5.375% 15/11/2023^

4,700

0.10

4

0.00

EUR

16,026,000 Fiat Chrysler Finance Europe SA 4.75% 22/03/2021^

17,553

0.39

Total Luxembourg

EUR


25,147

0.56


EUR


21,291

0.47

EUR EUR EUR EUR EUR

EUR EUR

7,550,000 eDreams ODIGEO SA 8.5% 01/08/2021^ 5,000,000 Espirito Santo Financial Group SA 6.875% 21/10/2019***

4,750,000 Galapagos Holding SA 7% 15/06/2022^ 6,450,000 Garfunkelux Holdco 3 SA 7.5% 01/08/2022^

6,391

0.06

7,850,000 Garfunkelux Holdco 3 SA FRN 3.5% 01/09/2023^

EUR

9,200,000 Garfunkelux Holdco 3 SA FRN 4.5% 01/09/2023^

8,208

0.18

9,550,000 Gestamp Funding Luxembourg SA 3.5% 15/05/2023^

9,844

0.22

EUR EUR

8,775,000 Hanesbrands Finance Luxembourg SCA 3.5% 15/06/2024^

6,750

11,987

0.27

7,850,000 Intralot Capital Luxembourg SA 5.25% 15/09/2024

5,967

0.13

5,075,000 Intralot Capital Luxembourg SA 6.75% 15/09/2021

4,291

0.10

EUR

7,068,000 Lecta SA 6.5% 01/08/2023^

7,205

0.16

EUR

6,800,000 LHMC Finco Sarl 6.25% 20/12/2023^

EUR

6,700,000 LHMC Finco Sarl FRN 5.75% 20/12/2023^

EUR

3,900,000 LSF10 Wolverine Investments SCA 5% 15/03/2024^

EUR

5,450,000 LSF10 Wolverine Investments SCA FRN 4.625% 15/03/2024^

5,482

0.12

EUR

6,089,000 Matterhorn Telecom Holding SA 4.875% 01/05/2023^

6,174

0.14

16,146,000 Matterhorn Telecom SA 3.875% 01/05/2022^

16,440

0.36

EUR EUR

EUR

6,997 6,783 3,900

0.16 0.15 0.09

EUR

7,275,000 Matterhorn Telecom SA 4% 15/11/2027^

EUR

5,150,000 Picard Bondco SA 5.5% 30/11/2024^

4,872

0.11

EUR

6,075,000 Samsonite Finco Sarl 3.5% 15/05/2026^

5,978

0.13

EUR EUR

[174]

24,638,000 Sberbank of Russia Via SB Capital SA 3.352% 15/11/2019 5,275,000 SCHMOLZ + BICKENBACH Luxembourg Finance SA 5.625% 15/07/2022^


11,097

0.25

9,574

0.21

EUR

8,675,000 Nemak SAB de CV 3.25% 15/03/2024^

8,876

0.20

Total Mexico

29,547

0.66


0.20

11,400,000 INEOS Group Holdings SA 5.375% 01/08/2024^

11,260,000 Cemex SAB de CV 2.75% 05/12/2024^ 9,240,000 Cemex SAB de CV 4.375% 05/03/2023^

0.15

9,177

EUR

0.22 10.33

EUR 0.14

EUR

9,851 465,864

Corporate Bonds EUR

2,569

10,200,000 Telenet Finance Luxembourg Notes Sarl 3.5% 01/03/2028^

6,942

24,712

5,474

0.15

0.55

0.12

Corporate Bonds EUR

8,225,000 Axalta Coating Systems Dutch Holding B BV 3.75% 15/01/2025^

8,503

0.19

EUR

7,875,000 CBR Fashion Finance BV 5.125% 01/10/2022^

6,955

0.15

EUR

1,500,000 Ceva Logistics Finance BV 5.25% 01/08/2025^

1,490

0.03

EUR

1,600,000 Ceva Logistics Finance BV 5.25% 01/08/2025^

1,590

0.04

EUR

7,094,000 Constellium NV 4.25% 15/02/2026^

7,203

0.16

EUR

5,750,000 Constellium NV 4.625% 15/05/2021^

5,840

0.13

EUR

8,025,000 Darling Global Finance BV 3.625% 15/05/2026^

8,182

0.18

EUR

7,700,000 Diamond BC BV 5.625% 15/08/2025^

7,198

0.16

EUR

6,450,000 Digi Communications NV 5% 15/10/2023^

EUR

14,775,000 Dufry One BV 2.5% 15/10/2024^

6,760

0.15

14,909

0.33

EUR

3,975,000 Eagle Intermediate Global Holding BV/Ruyi US Finance LLC 5.375% 01/05/2023^

4,000

0.09

EUR

11,275,000 Energizer Gamma Acquisition BV 4.625% 15/07/2026

11,613

0.26

EUR

20,056,000 Fiat Chrysler Automobiles NV 3.75% 29/03/2024^

21,665

0.48

EUR

5,200,000 Goodyear Dunlop Tires Europe BV 3.75% 15/12/2023^

5,330

0.12

EUR

10,200,000 Hema Bondco I BV FRN 6.25% 15/07/2022^

9,735

0.22

EUR

8,875,000 Hertz Holdings Netherlands BV 5.5% 30/03/2023

9,002

0.20

iSHARES PLC


Ccy

Holding Investment

Fair value €'000


Ccy



Corporate Bonds (cont) 17,700,000 InterXion Holding NV 4.75% 15/06/2025

18,422

8,050,000 IPD 3 BV 4.5% 15/07/2022^

8,211

0.18

EUR

4,950,000 Kongsberg Actuation Systems BV 5% 15/07/2025

4,939

0.11

13,743

0.31

EUR

13,550,000 LKQ European Holdings BV 3.625% 01/04/2026^

EUR

4,200,000 LKQ European Holdings BV 4.125% 01/04/2028^

4,219

0.09

EUR

8,286,000 Maxeda DIY Holding BV 6.125% 15/07/2022^

8,035

0.18

EUR

8,875,000 Nyrstar Netherlands Holdings BV 6.875% 15/03/2024^

7,877

0.17

EUR

6,150,000 Nyrstar Netherlands Holdings BV 8.5% 15/09/2019^

6,206

0.14

EUR

7,025,000 OCI NV 5% 15/04/2023^

7,381

0.16

EUR

12,950,000 OI European Group BV 3.125% 15/11/2024^

13,289

0.29

EUR


6,167

0.14


8,450

0.19

4,400,000 Petrobras Global Finance BV 3.75% 14/01/2021^

4,627

0.10

11,400,000 Petrobras Global Finance BV 5.875% 07/03/2022^

12,627

0.28

6,224

0.14

EUR EUR EUR

5,968,000 Phoenix PIB Dutch Finance BV 3.125% 27/05/2020^

EUR

26,780,000 Teva Pharmaceutical Finance Netherlands II BV 1.125% 15/10/2024^

23,600

0.52

EUR

23,550,000 Teva Pharmaceutical Finance Netherlands II BV 1.25% 31/03/2023

22,114

0.49

EUR

562,000 Teva Pharmaceutical Finance Netherlands II BV 1.625% 15/10/2028

452

0.01

EUR

600,000 Teva Pharmaceutical Finance Netherlands II BV 1.875% 31/03/2027^

513

0.01

EUR


12,418

0.28

EUR


0.41

EUR

EUR




Holding Investment

Fair value €'000

15,964

0.35

EUR

9,650,000 United Group BV 4.375% 01/07/2022^

9,959

0.22

EUR

5,740,000 United Group BV 4.875% 01/07/2024^

5,886

0.13

EUR

8,300,000 United Group BV FRN 4.375% 01/07/2023^

8,327

0.18

12,916

0.29

EUR EUR

12,050,000 Ziggo Bond Co BV 7.125% 15/05/2024^ 7,566,000 Ziggo Bond Finance BV 4.625% 15/01/2025^

7,529

0.17

EUR

14,151,000 Ziggo BV 3.75% 15/01/2025^

14,150

0.31

EUR

13,513,000 Ziggo BV 4.25% 15/01/2027^

13,505

0.30

518,892

11.51

Total Netherlands

EUR

2,250,000 Promontoria Holding 264 BV 6.75% 15/08/2023

2,248

0.05

EUR

3,200,000 Promontoria Holding 264 BV FRN 5.935% 15/08/2023

3,178

0.07

EUR

7,658,000 Saipem Finance International BV 2.625% 07/01/2025^

7,492

0.17

EUR


7,377

0.16

EUR

7,925,000 Saipem Finance International BV 3% 08/03/2021^

9,100,000 Banco de Sabadell SA 5.625% 06/05/2026^

10,258

0.23

8,231

0.18

EUR


7,050,000 Banco de Sabadell SA 6.25% 26/04/2020^

7,677

0.17

9,070

0.20

EUR

5,050,000 Bankinter SA 6.375% 11/09/2019^

5,361

0.12

EUR

1,200,000 Cellnex Telecom SA 2.375% 16/01/2024^

1,209

0.03

EUR


11,988

0.27

EUR


6,029

0.13

EUR


11,294

0.25

EUR EUR EUR

EUR EUR

5,800,000 Samvardhana Motherson Automotive Systems Group BV 1.8% 06/07/2024^ 13,500,000 Selecta Group BV 5.875% 01/02/2024^ 5,800,000 Selecta Group BV FRN 5.375% 01/02/2024^

EUR

12,250,000 Sigma Holdco BV 5.75% 15/05/2026^

EUR

7,500,000 Sunshine Mid BV 6.5% 15/05/2026^

EUR


Norway (28 February 2018: 0.17%) Spain (28 February 2018: 3.16%) Corporate Bonds

5,281 13,439 5,763 11,651 7,193

0.12 0.30 0.13 0.26 0.16

EUR EUR

30,244

0.67

EUR

6,775,000 Gestamp Automocion SA 3.25% 30/04/2026^ 17,960,000 Grifols SA 3.2% 01/05/2025^ 6,725,000 Grupo-Antolin Irausa SA 3.25% 30/04/2024^

6,647

0.15

17,986

0.40

6,666

0.15


[175]

iSHARES PLC


Ccy

Holding Investment

Fair value €'000


Ccy


Corporate Bonds



EUR

10,500,000 Algeco Global Finance Plc 6.5% 15/02/2023^

4,425,000 Grupo-Antolin Irausa SA 3.375% 30/04/2026^

10,965

0.24

4,196

0.09

EUR

5,500,000 Haya Finance 2017 SA 5.25% 15/11/2022^

7,105,000 Arrow Global Finance Plc FRN 2.875% 01/04/2025^

6,595

0.15

5,099

0.11

EUR

5,300,000 Naviera Armas SA FRN 4.25% 15/11/2024^

5,050,000 Arrow Global Finance Plc FRN 3.75% 01/03/2026^

4,815

0.11

5,138

0.11

EUR

5,350,000 Naviera Armas SA FRN 6.5% 31/07/2023^

5,850,000 Boparan Finance Plc 4.375% 15/07/2021^

5,408

0.12

5,394

0.12

EUR

6,750,000 NH Hotel Group SA 3.75% 01/10/2023^

4,450,000 EC Finance Plc 2.375% 15/11/2022^

4,477

0.10

7,062

0.16

EUR

5,190,000 Obrascon Huarte Lain SA 4.75% 15/03/2022^

9,700,000 Ineos Finance Plc 2.125% 15/11/2025^

9,412

0.21

5,132

0.11

EUR

4,950,000 Obrascon Huarte Lain SA 5.5% 15/03/2023^

13,946

0.31

4,972

0.11

EUR

5,150,000 Tendam Brands SAU 5% 15/09/2024^

8,325,000 International Game Technology Plc 3.5% 15/07/2024^

8,404

0.19

4,995

0.11

EUR

5,400,000 Tendam Brands SAU FRN 5.25% 15/09/2024^


11,910

0.26

5,244

0.12

EUR

132,347

2.94


9,052

0.20

EUR


17,657

0.39

EUR

7,100,000 International Personal Finance Plc 5.75% 07/04/2021^

6,734

0.15

EUR

10,825,000 Jaguar Land Rover Automotive Plc 2.2% 15/01/2024^

10,442

0.23

EUR

12,240,000 Merlin Entertainments Plc 2.75% 15/03/2022^

12,735

0.28

EUR

6,855,000 Nomad Foods Bondco Plc 3.25% 15/05/2024^

6,911

0.15

EUR

6,750,000 OTE Plc 2.375% 18/07/2022

6,907

0.15 0.27

Total Spain Sweden (28 February 2018: 3.08%) Corporate Bonds EUR

25,614,000 Intrum AB 2.75% 15/07/2022^

24,948

0.55

EUR

15,480,000 Intrum AB 3.125% 15/07/2024^

14,749

0.33

6,950,000 Intrum AB FRN 2.625% 15/07/2022^

6,743

0.15

5,175,000 Perstorp Holding AB FRN 4.25% 15/09/2022^

5,203

0.11

EUR EUR EUR EUR EUR

3,750,000 Radisson Hotel Holdings AB 6.875% 15/07/2023

4,031

0.09

7,050,000 Synthos Finance AB 4% 30/09/2021^

7,196

0.16

8,800,000 Telefonaktiebolaget LM Ericsson 0.875% 01/03/2021^

8,832

0.20

EUR

8,950,000 Telefonaktiebolaget LM Ericsson 1.875% 01/03/2024^

EUR

7,105,000 Unilabs Subholding AB 5.75% 15/05/2025^

8,871 6,846

0.20 0.15

EUR

10,680,000 Verisure Holding AB 6% 01/11/2022^

9,982

0.22

EUR

17,550,000 Verisure Midholding AB 5.75% 01/12/2023^

17,651

0.39

EUR

9,575,000 Volvo Car AB 2% 24/01/2025^

9,492

0.21

EUR

8,300,000 Volvo Car AB 3.25% 18/05/2021^

8,879

0.20

133,423

2.96

Total Sweden

Corporate Bonds EUR EUR

6,500,000 Arcelik AS 3.875% 16/09/2021^

11,622,000 OTE Plc 3.5% 09/07/2020

12,144

EUR

400,000 OTE Plc 3.5% 09/07/2020

418

0.01

EUR

6,150,000 OTE Plc 4.375% 02/12/2019

6,425

0.14

EUR

8,477,000 Public Power Corp Finance Plc 5.5% 01/05/2019

5,917

0.13

EUR

14,380,000 Synlab Bondco Plc 6.25% 01/07/2022^

14,825

0.33

EUR

16,414,000 Synlab Bondco Plc FRN 3.5% 01/07/2022^

16,470

0.37

EUR

6,530,000 Synlab Unsecured Bondco Plc 8.25% 01/07/2023^

6,937

0.15

EUR

6,096,000 TA MFG. Ltd 3.625% 15/04/2023^

6,208

0.14

EUR

15,183,000 Tesco Corporate Treasury Services Plc 1.375% 01/07/2019^

15,334

0.34

EUR


9,062

0.20

EUR


13,678

0.30

EUR

12,447,000 Tesco Plc 3.375% 02/11/2018^

12,506

0.28

7,492

0.17

12,404

0.28

0.13

8,500,000 Turkiye Garanti Bankasi AS 3.375% 08/07/2019^

7,910

0.18

EUR

8,750,000 Turkiye Vakiflar Bankasi TAO 3.5% 17/06/2019^

7,900

0.17

EUR

21,744

0.48

Total Turkey

[176]

5,934


13,660,000 Ineos Finance Plc 4% 01/05/2023^

EUR

Turkey (28 February 2018: 0.57%) EUR



Spain (28 February 2018: 3.16%) (cont) EUR

Holding Investment

Fair value €'000

7,650,000 Thomas Cook Finance 2 Plc 3.875% 15/07/2023^ 11,780,000 Thomas Cook Group Plc 6.25% 15/06/2022^

iSHARES PLC


Ccy

Holding Investment

Fair value €'000


Ccy



Corporate Bonds (cont) 5,925,000 Titan Global Finance Plc 2.375% 16/11/2024

EUR

5,275,000 Titan Global Finance Plc 3.5% 17/06/2021

EUR

6,200,000 Travelex Financing Plc 8% 15/05/2022^

EUR EUR

EUR EUR

8,025,000 Virgin Media Finance Plc 4.5% 15/01/2025^

5,713 5,513 6,068 8,162

6,250,000 Federal-Mogul LLC / FederalMogul Financing Corp FRN 4.875% 15/04/2024^

6,308

0.14

EUR

5,550,000 Huntsman International LLC 4.25% 01/04/2025^

6,393

0.14

EUR

7,600,000 Huntsman International LLC 5.125% 15/04/2021^

8,439

0.19

EUR

6,100,000 Infor US Inc 5.75% 15/05/2022^

6,204

0.14 0.56

0.12 0.13 0.18

6,050

0.13

5,650,000 Vue International Bidco Plc FRN 4.929% 15/07/2020^

5,642

0.13


EUR 0.13

6,375,000 Viridian Group FinanceCo Plc/Viridian Power and Energy 4% 15/09/2025^

8,775,000 Worldpay Finance Plc 3.75% 15/11/2022^




Holding Investment

Fair value €'000

9,483

0.21

332,821

7.38


EUR

25,165,000 IQVIA Inc 3.25% 15/03/2025^

25,424

EUR

11,675,000 IQVIA Inc 3.5% 15/10/2024^

11,967

0.27

EUR

7,100,000 IQVIA Inc 2.875% 15/09/2025^

6,939

0.15

EUR

5,580,000 Iron Mountain Inc 3% 15/01/2025^

5,509

0.12

EUR

4,925,000 Kraton Polymers LLC / Kraton Polymers Capital Corp 5.25% 15/05/2026

5,080

0.11

EUR

7,000,000 Kronos International Inc 3.75% 15/09/2025^

6,864

0.15

EUR

7,955,000 Levi Strauss & Co 3.375% 15/03/2027^

8,234

0.18

EUR

8,900,000 MPT Operating Partnership LP / MPT Finance Corp 3.325% 24/03/2025^

9,158

0.20

EUR

8,838,000 MPT Operating Partnership LP / MPT Finance Corp 4% 19/08/2022^

Corporate Bonds EUR

8,600,000 Avantor Inc 4.75% 01/10/2024^

8,816

0.20

EUR

5,900,000 Axalta Coating Systems LLC 4.25% 15/08/2024^

6,185

0.14

EUR

7,500,000 Ball Corp 3.5% 15/12/2020^

8,052

0.18

EUR

11,881,000 Ball Corp 4.375% 15/12/2023^

13,466

0.30 EUR

23,341,000 Netflix Inc 3.625% 15/05/2027^

9,641

0.21

22,907

0.51

6,235

0.14

5,500,000 Banff Merger Sub Inc 8.375% 01/09/2026^

5,410

0.12

EUR

5,500,000 Belden Inc 2.875% 15/09/2025^

5,455

0.12

EUR

7,585,000 Belden Inc 3.375% 15/07/2027^

7,364

0.16

EUR

10,275,000 PVH Corp 3.125% 15/12/2027^

10,214

0.23

EUR

6,675,000 Belden Inc 3.875% 15/03/2028

6,597

0.15

EUR

6,300,000 PVH Corp 3.625% 15/07/2024^

6,894

0.15

EUR

8,475,000 BWAY Holding Co 4.75% 15/04/2024

EUR 8,701

0.19

6,100,000 Scientific Games International Inc 3.375% 15/02/2026^

5,824

0.13

EUR

4,100,000 Scientific Games International Inc 5.5% 15/02/2026^

3,783

0.08

EUR

6,950,000 Sealed Air Corp 4.5% 15/09/2023^

EUR

EUR

5,875,000 Carlson Travel Inc FRN 4.75% 15/06/2023^

EUR

6,475,000 Catalent Pharma Solutions Inc 4.75% 15/12/2024^

EUR

7,560,000 Cemex Finance LLC 4.625% 15/06/2024^

EUR

4,850,000 CGG Holding US Inc 7.875% 01/05/2023^

5,861 6,804 8,004 5,167

EUR

0.13

5,950,000 PSPC Escrow Corp 6% 01/02/2023^

7,844

0.17

EUR

11,250,000 Silgan Holdings Inc 3.25% 15/03/2025^

11,537

0.26

EUR

7,450,000 Spectrum Brands Inc 4% 01/10/2026^

7,544

0.17

EUR

4,975,000 Superior Industries International Inc 6% 15/06/2025^

5,016

0.11

EUR

6,259

0.14

0.15 0.18 0.11

EUR

8,149,000 Chemours Co 4% 15/05/2026^

8,206

0.18

EUR

6,550,000 Colfax Corp 3.25% 15/05/2025^

6,693

0.15

EUR

8,450,000 Coty Inc 4% 15/04/2023^

8,365

0.19

6,050,000 WMG Acquisition Corp 4.125% 01/11/2024^

EUR

5,400,000 Coty Inc 4.75% 15/04/2026^

5,205

0.12

Total United States Total bonds

EUR

17,858,000 Equinix Inc 2.875% 01/02/2026^

17,491

0.39

EUR

13,175,000 Equinix Inc 2.875% 15/03/2024^

13,256

0.29

EUR

17,525,000 Equinix Inc 2.875% 01/10/2025^

17,196

0.38

EUR

6,925,000 Federal-Mogul LLC / FederalMogul Financing Corp 4.875% 15/04/2022^

7,213

0.16

EUR

5,919,000 Federal-Mogul LLC / FederalMogul Financing Corp 5% 15/07/2024

6,266

0.14

395,990

8.78

4,367,065

96.87


[177]

iSHARES PLC

Schedule of Investments (unaudited) (continued) iSHARES € HIGH YIELD CORP BOND UCITS ETF (continued) As at 31 August 2018 Amount Purchased

Currency

Amount Sold

Currency

Underlying Exposure (€)

Maturity date

Unrealised gain/(loss) €'000


Financial derivative instruments (28 February 2017: 0.03%) Forward currency contracts* (28 February 2017: 0.03%) USD

11,001,765

EUR

9,379,728

9,455,750

05/09/2018

76

0.00

USD

2,553,140

EUR

2,229,099

2,194,362

05/09/2018

(35)

0.00

76

0.00

Total unrealised gains on forward currency contracts Total unrealised losses on forward currency contracts

Ccy

Holding Total value of investments

(35)

0.00

Net unrealised gains on forward currency contracts

41

0.00


41

0.00

Fair value €'000


4,367,106

96.87

Cash equivalents (28 February 2018: 3.45%) UCITS collective investment schemes Money Market Funds (28 February 2018: 3.45%) EUR

80,823,809 Institutional Cash Series Plc Institutional Euro Liquidity Fund**

80,824

1.79

(3,495)

(0.08)

Other net assets

63,995

1.42

4,508,430

100.00

† Substantially

all cash positions are held with State Street Bank and Trust Company. ^ These securities are partially or fully transferred as securities lent. * The counterparty for forward currency contracts is State Street Bank and Trust Company. All forwards relate to USD Hedged (Acc). ** Investment in related party. *** This security was fair valued in consultation with the Investment Manager. This security was suspended or priced at zero at financial period end.

Fixed income securities are primarily classified by country of incorporation of the issuer for corporate fixed income securities. Underlying exposure has been calculated according to the guidelines issued by the ESMA and represents the market value of an equivalent position in the assets underlying each financial derivative instrument.

[178]


Fair value €'000



3,745,187

82.88


598,815

13.25

Other transferable securities of the type referred to in Regulation 68(1)(a), (b) and (c)

23,063

0.51

76

0.00

UCITS collective investment schemes Money Market Funds

80,824

1.79

Other assets

70,721

1.57

4,518,686

100.00

Over-the-counter financial derivative instruments

Cash†

Net asset value attributable to redeemable participating shareholders at the end of the financial period



iSHARES PLC

Schedule of Investments (unaudited) (continued) iSHARES € INFLATION LINKED GOVT BOND UCITS ETF As at 31 August 2018

Ccy

Holding Investment

Fair value €'000


Ccy


Government Bonds EUR


23,345

1.73

EUR


6,510

0.48

EUR


25,112

1.86

EUR


26,693

1.97

EUR


54,163

4.00

EUR


50,534

3.73

EUR


36,739

2.71

EUR


42,632

3.15

EUR


27,188

2.01

EUR


59,367

4.39

EUR


Government Bonds EUR EUR

12,062,000 French Republic Government Bond OAT 0.1% 01/03/2021^ 19,886,000 French Republic Government Bond OAT 0.1% 25/07/2021^

EUR

5,320,000 French Republic Government Bond OAT 0.1% 01/03/2025^

EUR

19,456,000 French Republic Government Bond OAT 0.1% 01/03/2025

EUR


EUR


EUR


EUR


EUR


13,041 21,703 5,922 21,658 18,238 10,179 7,796 16,306 48,103

0.96 1.60 0.44 1.60 1.35 0.75 0.58 1.21 3.55

Total Italy

EUR


36,529

2.70

EUR


62,069

4.59


EUR


EUR


EUR


75,101

5.55

EUR


53,096

3.92

24,124,000 French Republic Government Bond OAT 3.4% 25/07/2029^ Total France

40,366

2.98

392,649

29.01


EUR

EUR



Bonds (28 February 2018: 99.23%) France (28 February 2018: 45.65%)

Holding Investment

Fair value €'000

54,387 70,660 56,757

4.02 5.22 4.19

46,066

3.40

617,611

45.63

Government Bonds EUR

5,542,000 Spain Government Inflation Linked Bond 0.15% 30/11/2023

5,906

0.44

EUR


15,629

1.15

EUR


26,696

1.97

EUR


23,958

1.77

EUR

21,516,000 Spain Government Inflation Linked Bond 1% 30/11/2030

24,182

1.80

EUR

34,230,000 Spain Government Inflation Linked Bond 1.8% 30/11/2024^

40,961

3.03

Total Spain

137,332

10.16

Total bonds

1,347,303

99.55


1,347,303

99.55

Germany (28 February 2018: 13.79%) Government Bonds EUR

40,750,000 Deutsche Bundesrepublik Inflation Linked Bond 0.1% 15/04/2023^

EUR


EUR


25,954

1.92

EUR


36,704

2.71

EUR


48,562

3.59

Total Germany

199,711

14.75

46,987

Cash equivalents (28 February 2018: 0.04%)

3.47

UCITS collective investment schemes - Money Market Funds (28 February 2018: 0.04%) 41,504

3.06

EUR

295,371 Institutional Cash Series Plc Institutional Euro Liquidity Fund*

295


0.02

[179]

iSHARES PLC

Schedule of Investments (unaudited) (continued) iSHARES € INFLATION LINKED GOVT BOND UCITS ETF (continued) As at 31 August 2018 Fair value €'000


295

0.02

5,697

0.41

1,353,590

100.00

Cash† Other net assets Net asset value attributable to redeemable participating shareholders at the end of the financial period

Substantially all cash positions are held with State Street Bank and Trust Company. ^ These securities are partially or fully transferred as securities lent. * Investment in related party. †

Fixed income securities are primarily classified by country of issuer for government type fixed income securities.

Fair value €'000



313,946

23.19

Transferable securities dealt in an another regulated market

344,349

25.43

Other transferable securities of the type referred to in Regulation 68(1)(a), (b) and (c)

689,008

50.89

295

0.02


UCITS collective investment schemes - Money Market Funds Other assets Total current assets

[180]


6,279

0.47

1,353,877

100.00

iSHARES PLC

Schedule of Investments (unaudited) (continued) iSHARES £ CORP BOND 0-5yr UCITS ETF As at 31 August 2018

Ccy

Holding Investment

Fair value £'000


Ccy


Corporate Bonds (cont) GBP

2,450,000 Bank of Nova Scotia 1.75% 23/12/2022

GBP

4,990,000 Glencore Canada Financial Corp 7.375% 27/05/2020

Corporate Bonds GBP GBP

8,039

0.58

3,950,000 Commonwealth Bank of Australia 2.25% 07/12/2018

3,964

0.29

GBP

3,370,000 Macquarie Bank Ltd 3.5% 18/12/2020

GBP


GBP

500,000 National Australia Bank Ltd 1.375% 27/06/2022^

GBP

Total Canada



0.18

5,454

0.39

19,531

1.41

3,519 5,457 496 3,379

0.26

Corporate Bonds GBP

2,500,000 ASIF II 6.375% 05/10/2020

2,744

0.20

GBP

3,910,000 Dwr Cymru Financing Ltd 6.907% 31/03/2021

4,457

0.32

GBP

5,000,000 Phoenix Group Holdings 4.125% 20/07/2022

5,102

0.37

GBP

2,050,000 South East Water Finance Ltd 5.658% 30/09/2019

2,137

0.16

GBP

2,067,000 Southern Water Services Finance Ltd 4.5% 31/03/2038

2,201

0.16

GBP

5,060,000 Southern Water Services Finance Ltd 5% 31/03/2021

5,502

0.40

GBP


2,825

0.20

3,619

0.26

0.39 0.04 0.24


GBP

3,800,000 QBE Insurance Group Ltd 6.115% 24/05/2042

GBP

4,678,000 Scentre Group Trust 1 / Scentre Group Trust 2 2.375% 08/04/2022^

4,789

0.35

GBP

2,700,000 SGSP Australia Assets Pty Ltd 5.125% 11/02/2021

3,700,000 Thames Water Utilities Cayman Finance Ltd 2.375% 03/05/2023

2,922

0.21

GBP

2,800,000 Toyota Finance Australia Ltd 1.625% 11/07/2022


2,800

0.20


GBP


4,619

0.33

Denmark (28 February 2018: 0.04%)

GBP


7,664

0.55

Total Australia

61,222

4.42

GBP

2,448


GBP

GBP




Holding Investment

Fair value £'000

9,464 4,110

0.68 0.30

3,780

0.27

32,367

2.34

4,613

0.33

4,613

0.33

Finland (28 February 2018: 0.27%) Corporate Bonds GBP

Bermuda (28 February 2018: 0.25%) Corporate Bonds

Total Finland

GBP

3,086,000 Fidelity International Ltd 6.75% 19/10/2020

3,395

0.25

GBP

3,350,000 Hiscox Ltd 2% 14/12/2022

3,349

0.24

Total Bermuda

6,744

0.49

British Virgin Islands (28 February 2018: 0.32%) Corporate Bonds GBP

4,000,000 Global Switch Holdings Ltd 4.375% 13/12/2022 Total British Virgin Islands

4,386

0.32

4,386

0.32

Canada (28 February 2018: 1.01%)

France (28 February 2018: 6.78%) Corporate Bonds GBP

2,398,000 AXA SA 6.772%*

2,526

0.18

GBP

3,600,000 AXA SA 7.125% 15/12/2020

4,037

0.29

GBP


5,254

0.38

GBP


4,874

0.35

GBP

5,600,000 BNP Paribas SA 1.125% 16/08/2022

5,471

0.40

GBP

4,107,000 BNP Paribas SA 2.375% 20/11/2019

4,163

0.30

GBP

3,450,000 BNP Paribas SA 5.75% 24/01/2022

3,864

0.28

GBP

3,500,000 CNP Assurances 7.375% 30/09/2041

3,946

0.28

GBP


2,935

0.21

GBP

2,600,000 Credit Agricole SA 8.125%*/^

2,763

0.20

Corporate Bonds GBP GBP GBP

3,625,000 Bank of Montreal 1.375% 29/12/2021 3,625,000 Bank of Montreal 1.625% 21/06/2022 4,450,000 Bank of Nova Scotia 1.25% 08/06/2022


3,610 3,630 4,389

0.26 0.26 0.32


[181]

iSHARES PLC

Schedule of Investments (unaudited) (continued) iSHARES £ CORP BOND 0-5yr UCITS ETF (continued) As at 31 August 2018

Ccy

Holding Investment

Fair value £'000




Corporate Bonds 5,500,000 Assicurazioni Generali SpA 6.416%*

5,638

0.41

GBP

5,550,000 Autostrade per l'Italia SpA 6.25% 09/06/2022

5,950

0.43

GBP

5,650,000 Enel SpA 6.25% 20/06/2019

5,864

0.42

0.33

GBP

6,000,000 Enel SpA 6.625% 15/09/2076

6,517

0.47

6,750

0.49

GBP

4,500,000 Enel SpA 7.75% 10/09/2075

4,940

0.35

7,738,000 Orange SA 5.875%*

8,431

0.61

GBP

2,610,000 Orange SA 7.25% 10/11/2020

2,936

0.21

4,350,000 FCA Bank SpA 1.625% 29/09/2021

4,282

0.31

GBP

2,620

0.19


5,468

0.39

GBP

2,450,000 Engie SA 6.125% 11/02/2021^

2,735

0.20

GBP


4,512

GBP

6,200,000 Orange SA 5.75%*

GBP GBP GBP

2,625,000 RCI Banque SA 1.875% 08/11/2022

GBP

2,750,000 RCI Banque SA 3% 09/05/2019^

2,782

0.20

GBP


2,934

0.21

GBP


3,724

0.27

GBP

5,000,000 Total Capital International SA 2.25% 09/06/2022^

5,156

0.37

4,115,000 Total Capital SA 3.875% 14/12/2018^

4,147

2,390,000 WPP Finance SA 6.375% 06/11/2020 Total France

GBP GBP

2,488

0.18

35,679

2.57

2,322,000 ASIF III Jersey Ltd 5% 18/12/2018

2,349

0.17

GBP

6,079,000 Glencore Finance Europe Ltd 6% 03/04/2022^

6,816

0.49

0.30

GBP


7,529

0.54

2,632

0.19

GBP

94,660

6.83

8,280,000 Heathrow Funding Ltd 5.225% 15/02/2023

9,489

0.69

GBP

4,150,000 Heathrow Funding Ltd 6% 20/03/2020

4,437

0.32

GBP


3,340

0.24

3,571

0.26

Total Italy Jersey (28 February 2018: 2.72%) Corporate Bonds

Germany (28 February 2018: 3.53%) Corporate Bonds GBP

1,475,000 BASF SE 1.375% 21/06/2022

1,475

0.11

GBP

GBP

3,200,000 Deutsche Bank AG 1.75% 16/12/2021

3,400,000 HSBC Bank Capital Funding Sterling 2 LP 5.862%*/^

3,131

0.22

GBP

8,600,000 Deutsche Bank AG 1.875% 28/02/2020^

5,878,000 Kennedy Wilson Europe Real Estate Ltd 3.95% 30/06/2022

8,571

0.62

GBP

3,200,000 Henkel AG & Co KGaA 0.875% 13/09/2022

3,150

0.23

GBP

5,300,000 Muenchener Rueckversicherungs-Gesellschaft AG 6.625% 26/05/2042^

6,057

0.44

22,384

1.62

GBP


GBP


GBP

Holding Investment

Bonds (28 February 2018: 98.09%) (cont) Corporate Bonds (cont) GBP

Ccy

Fair value £'000

Total Germany

Total Jersey

6,095

0.44

43,626

3.15

Luxembourg (28 February 2018: 0.19%) Corporate Bonds GBP


4,553

0.33

Total Luxembourg

4,553

0.33


6,872

0.50

Total Mexico

6,872

0.50

Guernsey (28 February 2018: 0.53%) Mexico (28 February 2018: 0.53%)

Corporate Bonds GBP

Corporate Bonds

7,000,000 Credit Suisse Group Funding Guernsey Ltd 3% 27/05/2022

7,250

0.52

Total Guernsey

7,250

0.52

GBP

Ireland (28 February 2018: 1.55%) Netherlands (28 February 2018: 11.16%)

Corporate Bonds GBP GBP GBP GBP GBP

3,111

0.23

GBP

3,500,000 GE Capital UK Funding Unlimited Co 4.125% 13/09/2023

3,900,000 ABN Amro Bank NV 2.375% 07/12/2021

3,996

0.29

3,859

0.28

GBP


6,000,000 ABN Amro Bank NV 1% 30/06/2020

5,965

0.43

5,539

0.40

GBP


7,100,000 ABN Amro Bank NV 1.375% 07/06/2022

7,035

0.51

2,252

GBP


2,825,000 ABN Amro Bank NV 2.5% 18/12/2018

2,838

0.20

6,930

0.50

21,691

1.57

Total Ireland

[182]

Corporate Bonds

2,895,000 ESB Finance DAC 6.5% 05/03/2020


0.16

iSHARES PLC


Ccy

Holding Investment

Fair value £'000


Ccy




GBP GBP GBP GBP GBP GBP GBP

GBP

2,400,000 Volkswagen Financial Services NV 1.875% 07/09/2021

2,150,000 ABN Amro Bank NV 4.875% 16/01/2019^

2,403

0.17

2,180

0.16

GBP

6,700,000 BMW Finance NV 0.875% 16/08/2022


5,492

0.40

6,503

0.47

GBP

2,980,000 BMW Finance NV 1.875% 29/06/2020^


3,669

0.27

3,005

0.22

GBP

2,750,000 BMW Finance NV 2.375% 01/12/2021


3,721

0.27

2,818

0.20

GBP

7,260,000 BMW Finance NV 3.375% 14/12/2018^

3,525,000 Volkswagen Financial Services NV 1.75% 12/09/2022^

3,497

0.25

7,302

0.53

GBP

3,365,000 BMW International Investment BV 1% 17/11/2021


2,004

0.14

3,305

0.24

GBP

3,250,000 BMW International Investment BV 1.75% 19/04/2022


3,785

0.27

3,266

0.24

GBP


10,249

0.74

Total Netherlands

New Zealand (28 February 2018: 0.64%)


GBP

6,849,000 Cooperatieve Rabobank UA 4% 19/09/2022

7,516

0.54

GBP


3,709

0.27

GBP


994

0.07

Corporate Bonds 2,283

0.17

GBP

3,250,000 Chorus Ltd 6.75% 06/04/2020

3,504

0.25

GBP

2,275,000 Westpac Securities NZ Ltd 2.5% 13/01/2021

2,333

0.17

Total New Zealand

8,120

0.59

4,493

0.32

4,493

0.32

8,293

0.60

GBP


2,986

0.22


5,481

0.40


5,148

0.37

2,500,000 Daimler International Finance BV 2.125% 07/06/2022^

2,540

0.18

Total Norway

GBP


3,223

0.23


GBP


3,603

0.26

GBP GBP

GBP GBP GBP GBP

875,000 Daimler International Finance BV 2.75% 04/12/2020 6,290,000 Daimler International Finance BV 3.5% 06/06/2019

6,400

GBP

6,100,000 innogy Finance BV 6.5% 20/04/2021 991,000 Linde Finance BV 5.875% 24/04/2023^ 5,805,000 Shell International Finance BV 2% 20/12/2019

Corporate Bonds 7,300,000 Telefonica Emisiones SAU 5.289% 09/12/2022

GBP

7,400,000 Telefonica Emisiones SAU 5.597% 12/03/2020^ Total Spain

0.20


4,320,000 DNB Bank ASA 4.25% 27/01/2020

GBP

0.46

2,773

GBP

GBP

0.06


5,550,000 ING Bank NV 5.375% 15/04/2021

GBP

898

0.65

GBP

Norway (28 February 2018: 0.35%) Corporate Bonds

9,002

9,150,000 E.ON International Finance BV 6% 30/10/2019

GBP

0.12


GBP

0.17 12.83

2,300,000 ASB Finance Ltd 1% 07/09/2020


1,600

2,405 177,655

GBP

GBP

GBP



Netherlands (28 February 2018: 11.16%) (cont) GBP

Holding Investment

Fair value £'000

7,848

0.56

16,141

1.16

Sweden (28 February 2018: 3.95%)

9,642 6,119 6,661 6,866 1,185 5,871

0.70 0.44 0.48 0.50 0.09 0.42

Corporate Bonds GBP

5,134,000 Nordea Bank AB 2.125% 13/11/2019

5,192

0.37

GBP

5,250,000 Nordea Bank AB 2.375% 02/06/2022

5,402

0.39

GBP

3,085,000 Scania CV AB 1.875% 28/06/2022

3,079

0.22

GBP


6,716

0.48

GBP

3,050,000 Skandinaviska Enskilda Banken AB 3% 18/12/2020

3,161

0.23

GBP


5,425

0.39


[183]

iSHARES PLC


Ccy

Holding Investment

Fair value £'000


Ccy




GBP GBP GBP GBP

698

0.05

0.34

GBP



5,376

0.39

3,673

0.27

GBP

4,530,000 Svenska Handelsbanken AB 3% 20/11/2020


8,330

0.60

4,697

0.34

GBP

3,450,000 Svenska Handelsbanken AB 4% 18/01/2019


3,346

0.24

3,488

0.25

GBP

5,725,000 Swedbank AB 1.25% 29/12/2021

5,675

0.41

3,400,000 BUPA Finance Plc 3.375% 17/06/2021^

3,577

0.26

GBP

5,750,000 BUPA Finance Plc 5% 25/04/2023^

6,268

0.45

GBP

3,800,000 BUPA Finance Plc 6.125%*/^

4,053

0.29

GBP

7,425,000 Cadent Finance Plc 1.125% 22/09/2021

7,349

0.53

GBP

3,050,000 Centrica Plc 6.375% 10/03/2022

3,557

0.26

GBP

4,025,000 Centrica Plc 7% 19/09/2018

4,035

0.29

GBP

3,300,000 Close Brothers Finance Plc 3.875% 27/06/2021

3,484

0.25

GBP

3,150,000 Close Brothers Group Plc 2.75% 26/04/2023

3,169

0.23

GBP

4,000,000 Coventry Building Society 1% 05/05/2020

3,978

0.29

GBP

4,751,000 Coventry Building Society 5.875% 28/09/2022

5,505

0.40

GBP

3,050,000 Coventry Building Society 6% 16/10/2019

3,212

0.23

GBP

5,250,000 CYBG Plc 5% 09/02/2026

5,404

0.39

GBP

2,822,000 Direct Line Insurance Group Plc 9.25% 27/04/2042

GBP

4,275,000 Swedbank AB 1.625% 28/12/2022

4,261

0.31

3,496,000 Vattenfall AB 6.125% 16/12/2019

3,709

0.27

Total Sweden

2,415

61,545

0.17

4.44

Switzerland (28 February 2018: 1.64%) Corporate Bonds GBP

631,000 Birmingham Airport Finance Plc 6.25% 22/02/2021

4,652

2,405,000 Swedbank AB 1.625% 15/04/2019

GBP

GBP


GBP

GBP



Sweden (28 February 2018: 3.95%) (cont) GBP

Holding Investment

Fair value £'000

11,125,000 UBS AG 1.25% 10/12/2020 1,560,000 UBS AG 6.375% 19/11/2024 Total Switzerland

11,078

0.80

1,646

0.12

12,724

0.92

United Kingdom (28 February 2018: 38.69%) Corporate Bonds GBP

1,900,000 3i Group Plc 6.875% 09/03/2023

GBP

3,000,000 Anglian Water Services Financing Plc 5.837% 30/07/2022

3,434

0.25

3,493

0.25

GBP

4,230,000 Arqiva Financing Plc 4.04% 30/06/2020

4,500,000 Eastern Power Networks Plc 4.75% 30/09/2021

4,929

0.36

4,377

0.32

GBP

GBP

5,880,000 Aviva Plc 5.902%*

6,155

0.44

4,625,000 EE Finance Plc 4.375% 28/03/2019

4,704

0.34

GBP

8,350,000 Aviva Plc 6.125%*

9,161

0.66

GBP

GBP

4,750,000 Aviva Plc 6.625% 03/06/2041

5,221

0.38

2,150,000 ENW Finance Plc 6.125% 21/07/2021

2,424

0.18

GBP

4,500,000 Experian Finance Plc 3.5% 15/10/2021

4,748

0.34

GBP

4,350,000 Experian Finance Plc 4.75% 23/11/2018

4,384

0.32

GBP

2,100,000 FCE Bank Plc 2.625% 20/11/2018

2,105

0.15

GBP

5,025,000 FCE Bank Plc 2.727% 03/06/2022

5,090

0.37

GBP

3,700,000 FCE Bank Plc 2.759% 13/11/2019

3,746

0.27

GBP

3,350,000 FCE Bank Plc 3.25% 19/11/2020

3,437

0.25

GBP

2,652,000 Firstgroup Plc 5.25% 29/11/2022

2,918

0.21

GBP

2,265,000 Firstgroup Plc 6.125% 18/01/2019

2,304

0.17

GBP

5,280,000 Firstgroup Plc 8.75% 08/04/2021

6,109

0.44

GBP

GBP

1,610,000 Aviva Plc 6.875%*

GBP

4,733,000 BAE Systems Plc 4.125% 08/06/2022

GBP

2,784,000 Bank of Scotland Plc 6.375% 16/08/2019^

GBP

5,650,000 Bank of Scotland Plc 9.375% 15/05/2021

GBP

1,050,000 Barclays Bank Plc 5.75% 17/08/2021^

GBP


GBP GBP GBP GBP GBP

[184]

2,272

1,693 5,131 2,913 6,696 1,180 2,847

0.16

0.12 0.37 0.21 0.48 0.09 0.21

20,980,000 Barclays Bank Plc 10% 21/05/2021

24,972

1.80

11,350,000 Barclays Plc 2.375% 06/10/2023

11,169

0.81


5,604

0.40

GBP


6,149,000 Friends Life Holdings Plc 8.25% 21/04/2022

7,409

0.54

2,877

0.21

GBP


2,001,000 Friends Life Holdings Plc 12% 21/05/2021

2,521

0.18

6,053

0.44

GBP

3,910,000 G4S Plc 7.75% 13/05/2019

4,075

0.29


iSHARES PLC


Ccy

Holding Investment

Fair value £'000


Ccy




GBP GBP GBP GBP GBP



United Kingdom (28 February 2018: 38.69%) (cont) GBP

Holding Investment

Fair value £'000

GBP

820,000 Northern Powergrid Holdings Co 7.25% 15/12/2022

1,005

0.07

5,088,000 GKN Holdings Plc 5.375% 19/09/2022

5,572

0.40

GBP

3,840,000 GKN Holdings Plc 6.75% 28/10/2019

2,576,000 Northern Powergrid Yorkshire Plc 9.25% 17/01/2020

2,849

0.21

4,056

0.29

GBP

3,300,000 HSBC Bank Plc 6.5% 07/07/2023

3,936

0.28

3,865,000 Northumbrian Water Finance Plc 6.875% 06/02/2023

4,679

0.34

GBP

1,800,000 NRAM Ltd 6.375% 02/12/2019

1,895

0.14


11,260

0.81

GBP

4,450,000 Imperial Brands Finance Plc 7.75% 24/06/2019

2,850,000 Provident Financial Plc 7% 04/06/2023

2,910

0.21

4,675

0.34

GBP

3,050,000 Prudential Plc 1.75% 27/11/2018

3,056

0.22

GBP

3,316,000 Prudential Plc 6.875% 20/01/2023^

4,039

0.29

GBP

1,250,000 Prudential Plc 11.375% 29/05/2039

1,340

0.10

GBP

3,500,000 RELX Investments Plc 2.75% 01/08/2019

3,533

0.26

GBP

5,500,000 Rolls-Royce Plc 6.75% 30/04/2019

11,300,000 Imperial Brands Finance Plc 9% 17/02/2022

13,932

1.01

GBP

4,600,000 InterContinental Hotels Group Plc 3.875% 28/11/2022

GBP

4,950,000 Investec Bank Plc 4.25% 24/07/2028

GBP

3,296,000 Investec Bank Plc 9.625% 17/02/2022

3,940

0.28

5,698

0.41

GBP

4,383,000 Investec Plc 4.5% 05/05/2022

4,687

0.34

GBP

GBP

3,600,000 Legal & General Group Plc 10% 23/07/2041

4,400,000 Santander UK Plc 1.625% 10/05/2021

4,397

0.32

4,352

0.31

GBP

3,449,000 Lendlease Europe Finance Plc 6.125% 12/10/2021

8,435,000 Santander UK Plc 1.875% 17/02/2020

8,487

0.61

3,858

0.28

GBP

4,000,000 Liverpool Victoria Friendly Society Ltd 6.5% 22/05/2043

824

0.06

4,385

0.32

GBP

1,300,000 Lloyds Bank Plc 2.75% 09/12/2018

9,500,000 Scottish Widows Ltd 5.5% 16/06/2023

10,522

0.76

1,306

0.09

GBP

2,650,000 Segro Plc 5.625% 07/12/2020

2,884

0.21

GBP

2,550,000 Severn Trent Utilities Finance Plc 1.125% 07/09/2021

2,524

0.18

GBP

3,075,000 Severn Trent Utilities Finance Plc 1.625% 04/12/2022

3,064

0.22

GBP

4,000,000 Skipton Building Society 1.75% 30/06/2022

3,944

0.28

GBP

5,180,000 Sky Plc 2.875% 24/11/2020

5,340

0.39

GBP GBP GBP GBP GBP

4,950,000 Lloyds Bank Plc 5.75% 09/07/2025 664,000 Lloyds Bank Plc 9.625% 06/04/2023

4,958 4,887

5,255 857

0.36 0.35

0.38 0.06

679,000 Scottish Power UK Plc 6.75% 29/05/2023

GBP

2,913,000 London Power Networks Plc 5.125% 31/03/2023^

GBP

2,830,000 London Stock Exchange Group Plc 9.125% 18/10/2019

3,076

0.22

GBP

4,500,000 Marks & Spencer Plc 6.125% 02/12/2019

2,625,000 Southern Gas Networks Plc 4.875% 21/12/2020

2,828

0.20

4,750

0.34

GBP

3,150,000 Marks & Spencer Plc 6.125% 06/12/2021

3,220,000 Southern Gas Networks Plc 5.125% 02/11/2018

3,240

0.23

3,551

0.26

GBP

3,625,000 SSE Plc 3.625% 16/09/2077

3,701

0.27

GBP

9,000,000 SSE Plc 3.875%*

9,206

0.66

GBP

3,850,000 SSE Plc 4.25% 14/09/2021^

4,168

0.30

GBP

4,015,000 SSE Plc 5% 01/10/2018

4,026

0.29

GBP

2,901,000 SSE Plc 5.875% 22/09/2022

3,381

0.24

GBP GBP GBP GBP GBP

4,378,000 Motability Operations Group Plc 5.375% 28/06/2022^ 2,464,000 Motability Operations Group Plc 6.625% 10/12/2019 2,540,000 National Express Group Plc 6.625% 17/06/2020

3,335

5,018 2,630

0.24

0.36 0.19

2,756

0.20

GBP

2,250,000 Standard Chartered Bank 5.375%*

2,337

0.17

539

0.04

GBP

3,700,000 National Westminster Bank Plc 6.5% 07/09/2021

6,030,000 Standard Life Aberdeen Plc 5.5% 04/12/2042

6,680

0.48

4,161

0.30

GBP


3,230,000 Standard Life Aberdeen Plc 6.546%*

3,453

0.25

3,254

0.24

GBP

4,796,000 Nats En Route Plc 5.25% 31/03/2026

2,300,000 Tate & Lyle International Finance Plc 6.75% 25/11/2019

2,449

0.18

3,482

0.25

GBP


875,000 TSB Banking Group Plc 5.75% 06/05/2026

917

0.07

6,763

0.49

GBP

5,125,000 Unilever Plc 1.125% 03/02/2022

5,094

0.37

GBP

2,900,000 Next Plc 5.375% 26/10/2021

3,199

0.23

GBP

1,450,000 Unilever Plc 2% 19/12/2018

1,454

0.11

GBP

1,480,000 Northern Electric Finance Plc 8.875% 16/10/2020

GBP

4,528,000 United Utilities Water Ltd 5.75% 25/03/2022^

5,190

0.38

GBP GBP GBP GBP GBP

500,000 National Grid Gas Plc 6.375% 03/03/2020

1,709

0.12


[185]

iSHARES PLC


Ccy

Holding Investment

Fair value £'000


Ccy




GBP GBP GBP



United Kingdom (28 February 2018: 38.69%) (cont) GBP

Holding Investment

Fair value £'000

GBP


2,970,000 Virgin Money Plc 2.25% 21/04/2020^

2,608

0.19

2,992

0.22

GBP



9,174

0.66

5,142

0.37

GBP

1,188,000 Wales & West Utilities Finance Plc 6.25% 30/11/2021


7,064

0.51

1,366

0.10

GBP

155,000 Wales & West Utilities Finance Plc 6.75% 17/12/2036

2,000,000 McDonald's Corp 6.375% 03/02/2020

2,140

0.15

157

0.01

GBP

4,160,000 MetLife Inc 5.25% 29/06/2020

4,445

0.32

GBP

5,950,000 Metropolitan Life Global Funding I 1.125% 15/12/2021

5,901

0.43

GBP


5,525

0.40

GBP


4,738

0.34

GBP

3,925,000 Nestle Holdings Inc 1% 11/06/2021

GBP

3,038,000 Wellcome Trust Finance Plc 4.75% 28/05/2021

GBP

2,750,000 Wessex Water Services Finance Plc 4% 24/09/2021

GBP

7,650,000 Western Power Distribution East Midlands Plc 5.25% 17/01/2023

GBP

1,822,000 Western Power Distribution South Wales Plc 9.25% 09/11/2020

3,903

0.28

2,124

0.15

GBP

3,025,000 Yorkshire Building Society 4.125% 20/11/2024

7,142,000 Nestle Holdings Inc 1.75% 09/12/2020

7,238

0.52

3,101

0.22

GBP

3,100,000 Yorkshire Water Finance Plc 6% 21/08/2019

4,000,000 New York Life Global Funding 1% 15/12/2021

3,957

0.29

3,239

0.23

GBP

2,500,000 Yorkshire Water Finance Plc 6.588% 21/02/2023

6,100,000 New York Life Global Funding 1.75% 15/12/2022

6,172

0.45

3,008

0.22

GBP

4,729,000 PepsiCo Inc 2.5% 01/11/2022

4,952

0.36

5,656

0.41

GBP

540,537

39.03

4,860,000 Rabobank Capital Funding Trust IV 5.556%*

5,044

0.36

GBP

1,800,000 Textron Inc 6.625% 07/04/2020

1,934

0.14

GBP

5,570,000 Toyota Motor Credit Corp 1% 27/09/2022

5,452

0.39

GBP


3,822

0.28

GBP


4,605

0.33

GBP

7,925,000 Wells Fargo & Co 1.375% 30/06/2022

7,778

0.56

GBP

8,250,000 Wells Fargo & Co 2.125% 22/04/2022

8,328

0.60

GBP

2,150,000 Wells Fargo Bank NA 5.25% 01/08/2023

GBP GBP GBP GBP

5,000,000 Zurich Finance UK Plc 6.625%* Total United Kingdom

3,330 2,950 8,727

0.24 0.21 0.63

United States (28 February 2018: 12.76%) Corporate Bonds GBP

4,575,000 American Honda Finance Corp 1.3% 21/03/2022

4,545

0.33

2,450,000 American Honda Finance Corp 2.625% 14/10/2022^

2,551

0.18

GBP

5,650,000 American International Group Inc 5% 26/04/2023

6,345

0.46

GBP


5,040

0.36


3,709

0.27

GBP

GBP

Total United States

2,428

0.18

169,706

12.25

GBP

8,750,000 Bank of America Corp 6.125% 15/09/2021^

9,903

0.72

Total bonds

1,356,499

97.94

GBP

2,960,000 BMW US Capital LLC 2% 20/11/2019

2,983

0.22


1,356,499

97.94

GBP

7,185,000 Citigroup Inc 5.125% 12/12/2018

7,263

0.52

GBP

1,900,000 Citigroup Inc 6.25% 02/09/2019

1,994

0.14

Cash equivalents (28 February 2018: Nil)

GBP

1,400,000 Credit Suisse Group Finance US Inc 7% 05/10/2020

1,557

0.11

UCITS collective investment schemes - Money Market Funds (28 February 2018: Nil)

3,500,000 Fidelity National Information Services Inc 1.7% 30/06/2022

3,472

0.25


4,428

0.32

GBP


2,409

0.17

GBP

5,700,000 Goldman Sachs Group Inc 5.5% 12/10/2021^

6,299

0.46

GBP GBP

[186]


GBP

10,369,028 Institutional Cash Series Plc Institutional Sterling Liquidity Fund**

10,369

0.75

iSHARES PLC

Schedule of Investments (unaudited) (continued) iSHARES £ CORP BOND 0-5yr UCITS ETF (continued) As at 31 August 2018 Fair value £'000


306

0.02

17,840

1.29

1,385,014

100.00

Cash† Other net assets Net asset value attributable to redeemable participating shareholders at the end of the financial period

Substantially all cash positions are held with State Street Bank and Trust Company. ^ These securities are partially or fully transferred as securities lent. * Perpetual bond. ** Investment in related party. †



Fair value £’000



1,341,063

96.05


15,436

1.11

UCITS collective investment schemes - Money Market Funds

10,369

0.74

Other assets

29,390

2.10

1,396,258

100.00



[187]

iSHARES PLC

Schedule of Investments (unaudited) (continued) iSHARES AEX UCITS ETF As at 31 August 2018

Ccy

Holding Investment

Fair value €'000


Ccy

Holding Investment


Pipelines 44,778 Koninklijke Vopak NV^

Equities (28 February 2018: 99.41%) Belgium (28 February 2018: 0.62%)

EUR

Total Belgium

273,336 ASML Holding NV

2,258

0.64

2,258

0.64

EUR

2,131,019 Koninklijke KPN NV^ Total Netherlands


48,008

13.69

4,690

1.34

267,122

76.19


Real estate investment trusts Total France

0.57

Telecommunications

25,899 Galapagos NV^

63,256 Unibail-Rodamco-Westfield^

1,988

Semiconductors

Pharmaceuticals

EUR



EUR

Fair value €'000

Oil & gas 11,449

3.27

11,449

3.27

EUR

1,978,529 Royal Dutch Shell Plc Total United Kingdom Total equities

55,379

15.80

55,379

15.80

347,119

99.01

Fair value €'000


Luxembourg (28 February 2018: 3.61%) Iron & steel EUR

420,633 ArcelorMittal Total Luxembourg

10,911

3.11

10,911

3.11

Ccy

Financial derivative instruments (28 February 2018: 0.01%)

Netherlands (28 February 2018: 76.33%) Banks EUR EUR

268,548 ABN Amro Group NV 2,461,146 ING Groep NV^

Futures contracts (28 February 2018: 0.00%) 6,265

1.79

28,771

8.20

EUR

Beverages EUR

164,105 Heineken NV

Underlying exposure €'000

No. of contracts

13,972

3.99

Chemicals EUR

151,956 Akzo Nobel NV

12,235

3.49

EUR

114,889 Koninklijke DSM NV

10,384

2.96

28 Amsterdam Index Futures September 2018

(16)

0.00

Total unrealised losses on futures contracts

3,142

(16)

0.00

Total financial derivative Instruments

(16)

0.00

Fair value €'000


347,103

99.01

Cash†

2,148

0.61

Other net assets

1,332

0.38

350,583

100.00

Commercial services EUR EUR

75,485 Randstad NV 611,650 Relx NV

4,073

1.16

11,670

3.33

2,441

0.70

51,129

14.58

1,801

0.51

16,544

4.72


Computers EUR

48,802 Gemalto NV Cosmetics & personal care

EUR

1,031,960 Unilever NV Electrical components & equipment

EUR

74,289 Signify NV^


Food EUR

789,296 Koninklijke Ahold Delhaize NV Healthcare products

EUR

595,596 Koninklijke Philips NV

22,925

6.54

5,831

1.66

3,828

1.09

7,175

2.05

Insurance EUR EUR EUR

1,128,690 Aegon NV^ 93,141 ASR Nederland NV 194,279 NN Group NV Media

EUR

394,452 Altice Europe NV^

1,022

0.29

EUR

183,846 Wolters Kluwer NV

10,038

2.86

2,332

0.67

Miscellaneous manufacturers EUR

[188]

63,135 Aalberts Industries NV


Cash holdings of €2,000,161 are held with State Street Bank and Trust Company. €148,308 is held as security for futures contracts with Barclays Bank Plc. ^ These securities are partially or fully transferred as securities lent.

†

Equities are primarily classified by country of incorporation of the entity in which the Fund holds shares.

iSHARES PLC

Schedule of Investments (unaudited) (continued) iSHARES AEX UCITS ETF (continued) As at 31 August 2018 Underlying exposure has been calculated according to the guidelines issued by the ESMA and represents the market value of an equivalent position in the assets underlying each financial derivative instrument.

Analysis of total current assets gross of all liabilities Transferable securities admitted to an official stock exchange listing Other assets Total current assets

Fair value €'000


347,119

98.98

3,567

1.02

350,686

100.00


[189]

iSHARES PLC

Schedule of Investments (unaudited) (continued) iSHARES ASIA PACIFIC DIVIDEND UCITS ETF As at 31 August 2018

Ccy

Holding Investment

Fair value $'000


Ccy

Holding Investment

Transferable Securities Admitted to an Official Stock Exchange Listing or traded on a Regulated Market (28 February 2018: 99.36%) Equities (28 February 2018: 99.36%)

Real estate investment & services HKD

7,837,376 New World Development Co Ltd

10,465

2.27

HKD

6,229,162 Sino Land Co Ltd

10,555

2.29

Telecommunications

Banks

AUD

740,367 Australia & New Zealand Banking Group Ltd 2,175,448 Bendigo & Adelaide Bank Ltd^

HKD 15,795

3.43

34,406,930 PCCW Ltd Total Hong Kong

18,280

3.97

68,540

14.88

12,554

2.72

12,554

2.72

18,234

3.96

284,175 Commonwealth Bank of Australia^

14,641

3.18

AUD

837,952 National Australia Bank Ltd

17,193

3.73

AUD

775,674 Westpac Banking Corp

16,010

3.47

Total Japan

14,661

3.18

New Zealand (28 February 2018: 11.65%)

9,796

2.12

15,785

3.43

14,436

3.13

16,447

3.57

Total New Zealand

15,942

3.46

Singapore (28 February 2018: 9.30%)

14,993

3.26

AUD


Hong Kong (28 February 2018: 18.87%) (cont)

Australia (28 February 2018: 49.69%) AUD

Fair value $'000

Japan (28 February 2018: Nil) Auto manufacturers JPY

1,338,500 Nissan Motor Co Ltd^

Electricity AUD

12,324,026 AusNet Services^ Engineering & construction

AUD

Hotels

943,884 Monadelphous Group Ltd^

AUD

3,027,331 Sydney Airport

AUD

4,158,538 Tabcorp Holdings Ltd^

AUD

1,468,136 Suncorp Group Ltd

AUD

5,740,618 Fortescue Metals Group Ltd^

Entertainment

NZD

14,326

3.11

19,982

4.34

Media NZD

Insurance

5,318,111 Sky City Entertainment Group Ltd 14,007,458 SKY Network Television Ltd^ Telecommunications

NZD

8,945,127 Spark New Zealand Ltd

23,681

5.14

57,989

12.59

14,279

3.10

12,181

2.64

Iron & steel Oil & gas AUD

562,285 Woodside Petroleum Ltd

Telecommunications SGD

Packaging & containers AUD

1,087,368 Amcor Ltd

11,245

2.44

SGD

6,056,521 Singapore Telecommunications Ltd^ 10,302,064 StarHub Ltd^ Total Singapore

Retail AUD

6,054,350 Harvey Norman Holdings Ltd^

15,763

3.42

7,774,450 Telstra Corp Ltd

17,430

3.78

Total Australia

228,371

49.56

Total equities

Telecommunications AUD

Ccy

Holding companies - diversified operations 7,384,000 NWS Holdings Ltd

HKD

2,372,000 Kerry Properties Ltd

1,115,953 VTech Holdings Ltd^ Total Bermuda

Futures contracts (28 February 2018: 0.00%) 2,574

48

0.01

1.95

HKD

6 Hang Seng Index Futures September 2018

1,079

(17)

0.00

25,726

5.58

SGD

26 MSCI Singapore Index Futures September 2018

692

(3)

0.00

48

0.01

12,348

2.68

60,217

13.07

Hong Kong (28 February 2018: 18.87%) Banks HKD

434,784 Hang Seng Bank Ltd^

11,788

2.56

17,452

3.79

Electricity HKD

[190]

17,274,000 HK Electric Investments & HK Electric Investments Ltd^



8,991

Telecommunications HKD

Fair value $'000

2.86

AUD

Retail 45,787,669 Giordano International Ltd

98.56

13,152

Real estate investment & services

HKD

Underlying exposure $'000

5.74

454,131

Financial derivative instruments (28 February 2018: 0.00%)

Bermuda (28 February 2018: 9.85%) HKD

No. of contracts

26,460

23 SPI 200 Index Futures September 2018

Total unrealised gains on futures contracts Total unrealised losses on futures contracts

(20)

0.00

Net unrealised gains on futures contracts

28

0.01


28

0.01

iSHARES PLC

Schedule of Investments (unaudited) (continued) iSHARES ASIA PACIFIC DIVIDEND UCITS ETF (continued) As at 31 August 2018 Fair value $'000


454,159

98.57

Cash†

3,285

0.71

Other net assets

3,299

0.72

460,743

100.00



Cash holdings of $3,070,024 are held with State Street Bank and Trust Company. $214,800 is held as security for futures contracts with Barclays Bank Plc. ^ These securities are partially or fully transferred as securities lent. †

Equities are primarily classified by country of incorporation of the entity in which the Fund holds shares. Underlying exposure has been calculated according to the guidelines issued by the ESMA and represents the market value of an equivalent position in the assets underlying each financial derivative instrument.

Analysis of total current assets gross of all liabilities Transferable securities admitted to an official stock exchange listing Exchange traded financial derivative instruments Other assets Total current assets

Fair value $'000


454,131

98.51

48

0.01

6,823

1.48

461,002

100.00


[191]

iSHARES PLC

Schedule of Investments (unaudited) (continued) iSHARES CHINA LARGE CAP UCITS ETF As at 31 August 2018

Ccy

Holding Investment

Fair value $'000


Ccy

Transferable Securities Admitted to an Official Stock Exchange Listing or traded on a Regulated Market (28 February 2018: 99.99 %)

Holding Investment

Fair value $'000


2.75

People's Republic of China (28 February 2018: 68.29%) (cont) Banks

HKD

Equities (28 February 2018: 99.99%)

HKD

36,408,000 Agricultural Bank of China Ltd

17,627

Bermuda (28 February 2018: 0.00%)

HKD

61,679,400 Bank of China Ltd

27,740

4.34

Gas

HKD

6,665

1.04 0.96

1,883,200 China Gas Holdings Ltd^

5,986

0.94

Semiconductors HKD

32,000 Hanergy Thin Film Power Group Ltd* Total Bermuda

-

0.00

5,986

0.94


HKD

9,789,600 China CITIC Bank Corp Ltd^

6,112

HKD

64,963,320 China Construction Bank Corp

57,523

8.99

HKD

3,715,000 China Everbright Bank Co Ltd^

1,552

0.24

HKD

4,482,369 China Merchants Bank Co Ltd^

17,190

2.69

HKD

7,548,661 China Minsheng Banking Corp Ltd^

5,405

0.84

HKD

71,255,175 Industrial & Commercial Bank of China Ltd

52,473

8.20

4,084

0.64

8,532

1.33

8,975

1.40

Auto manufacturers HKD

5,728,000 Geely Automobile Holdings Ltd

12,173

1.90

HKD

Internet HKD

1,188,100 Tencent Holdings Ltd^

51,466

8.04

HKD

771,300 Sunny Optical Technology Group Co Ltd^ 3,496,000 China Evergrande Group^

1,401,000 Anhui Conch Cement Co Ltd^ Coal

9,802

1.53

HKD

4,025,500 China Shenhua Energy Co Ltd Diversified financial services


6,939,000 Postal Savings Bank of China Co Ltd Building materials and fixtures

Miscellaneous manufacturers HKD

9,225,850 Bank of Communications Co Ltd^

12,538

1.96

HKD

2,698,500 CITIC Securities Co Ltd^

4,834

0.76

HKD

1,829,600 GF Securities Co Ltd

2,296

0.36

HKD

3,168,666 China Resources Land Ltd

11,042

1.73

HKD

8,744,000 Country Garden Holdings Co Ltd^

2,047

0.32

13,012

2.03

HKD

4,005,200 Haitong Securities Co Ltd^

3,541

0.55

1,748,500 Longfor Group Holdings Ltd^

4,856

0.76

HKD

2,024,600 Huatai Securities Co Ltd^

3,034

0.47

HKD

HKD


Engineering & construction

2,282,000 Xiaomi Corp^ Total Cayman Islands

4,885

0.77

119,774

18.72

Hong Kong (28 February 2018: 15.04%)

HKD

5,244,000 China Communications Construction Co Ltd

5,205

0.81

HKD

2,235,500 China Railway Construction Corp Ltd^

2,703

0.42

HKD

4,500,000 China Railway Group Ltd

3,887

0.61 3.11

Banks HKD

5,813,000 Citic Ltd

Insurance 8,265

1.29

Insurance HKD

2,666,656 Fosun International Ltd

4,825

15,277,000 CNOOC Ltd

27,016

HKD

8,814,000 China Life Insurance Co Ltd

19,921

HKD

3,056,800 China Pacific Insurance Group Co Ltd

11,392

1.78

HKD

1,036,700 New China Life Insurance Co Ltd

4,695

0.74

HKD

9,744,000 People's Insurance Co Group of China Ltd

4,221

0.66

HKD

7,968,503 PICC Property & Casualty Co Ltd

8,975

1.40

HKD

4,109,000 Ping An Insurance Group Co of China Ltd^

39,578

6.19

1,916

0.30

3,962

0.62

0.75

Oil & gas HKD

4.22


4,542,000 China Overseas Land & Investment Ltd

14,380

2.25


4,446,410 China Mobile Ltd

HKD

7,005,074 China Unicom Hong Kong Ltd^ Total Hong Kong

41,808

6.54

8,148

1.27

104,442

Mining HKD

16.32 HKD

Airlines 2,168,000 Air China Ltd

HKD

813,000 Byd Co Ltd^

2,033

0.32

4,832

0.75

[192]

3,642,000 Guangzhou Automobile Group Co Ltd

3,953

0.62


4,783,750 CRRC Corp Ltd^ Oil & gas

HKD

26,741,000 China Petroleum & Chemical Corp

26,881

4.20

HKD

24,646,000 PetroChina Co Ltd

18,338

2.87

5,397

0.84

Auto manufacturers HKD

4,671,000 China Molybdenum Co Ltd^ Miscellaneous manufacturers

People's Republic of China (28 February 2018: 68.29%) HKD

991,600 Guotai Junan Securities Co Ltd


1,557,500 China Vanke Co Ltd^

iSHARES PLC

Schedule of Investments (unaudited) (continued) iSHARES CHINA LARGE CAP UCITS ETF (continued) As at 31 August 2018

Ccy

Fair value $'000

Holding Investment


Analysis of total current assets gross of all liabilities Transferable securities admitted to an official stock exchange listing

Equities (28 February 2018: 99.99%) (cont)

Other assets

People's Republic of China (28 February 2018: 68.29%) (cont)


Fair value $'000


635,450

99.23

4,903

0.77

640,353

100.00


Ccy

16,440,000 China Telecom Corp Ltd

7,729

1.21

Total People's Republic of China

405,248

63.33

Total equities

635,450

99.31

Underlying % of net exposure Fair value assets $'000 $'000 value

No. of contracts

Financial derivative instruments (28 February 2018: Nil) Futures contracts (28 February 2018: Nil) HKD

50 HSCEI Futures September 2018

(60)

(0.01)

Total unrealised losses on futures contracts

3,514

(60)

(0.01)


(60)

(0.01)

Fair value $'000


635,390

99.30

3,848

0.60

656

0.10

639,894

100.00

Total value of investments Cash† Other net assets Net asset value attributable to redeemable participating shareholders at the end of the financial period † Cash

holdings of $3,525,573 are held with State Street Bank and Trust Company. $321,988 is held as security for futures contracts with Barclays Bank Plc. ^ These securities are partially or fully transferred as securities lent. * This security was fair valued in consultation with the Investment Manager. This security was suspended or priced at zero at financial period end.

Equities are primarily classified by country of incorporation of the entity in which the Fund holds shares Underlying exposure has been calculated according to the guidelines issued by the ESMA and represents the market value of an equivalent position in the assets underlying each financial derivative instrument.


[193]

iSHARES PLC

Schedule of Investments (unaudited) (continued) iSHARES CORE £ CORP BOND UCITS ETF As at 31 August 2018

Ccy

Holding Investment

Fair value £'000


Ccy


Cayman Islands (28 February 2018: 3.16%) GBP


2,096

0.13

GBP


3,236

0.20

GBP


2,736

0.17

GBP


3,112

0.19

GBP


3,353

0.20

GBP

2,366,000 Southern Water Services Finance Ltd 5% 31/03/2021

2,573

0.16

GBP


2,400

0.15

GBP


4,195

0.25

GBP


3,626

0.22

GBP


2,323

0.14

GBP



4,425,000 APT Pipelines Ltd 3.5% 22/03/2030 2,250,000 APT Pipelines Ltd 4.25% 26/11/2024

GBP


GBP


GBP


GBP


4,620 2,473 2,866 8,740 3,671 3,026


Corporate Bonds


Holding Investment

Fair value £'000

0.28 0.15 0.18 0.53 0.22 0.19

GBP


GBP

2,750,000 Scentre Group Trust 1 3.875% 16/07/2026

GBP

2,364,000 Scentre Group Trust 1 / Scentre Group Trust 2 2.375% 08/04/2022^

1,964

0.12

2,420

0.15

GBP

1,500,000 Westfield America Management Ltd 2.125% 30/03/2025

3,125,000 Thames Water Utilities Cayman Finance Ltd 4% 19/06/2025

3,429

0.21

1,483

0.09

GBP

4,175,000 Westfield America Management Ltd 2.625% 30/03/2029


2,252

0.14

4,130

0.25

GBP

3,100,000 Westpac Banking Corp 2.625% 14/12/2022^


2,729

0.17

3,218

0.20

GBP



5,329

0.32

3,650

0.22

GBP

Total Australia

47,436

2.90


GBP GBP GBP GBP

4,116 3,023

0.25 0.19


5,072

0.31

50,425

3.08

Belgium (28 February 2018: 1.50%) Denmark (28 February 2018: 0.67%)



Corporate Bonds 5,332

0.33


4,881

0.30

GBP


3,493

0.21

GBP


2,224

0.14

GBP


GBP

3,950,000 Anheuser-Busch InBev SA/NV 9.75% 30/07/2024 Total Belgium

3,416

Total Canada

[194]


6,434

0.39

GBP

3,344,000 Orsted A/S 5.75% 09/04/2040

4,761

0.29

11,195

0.68

Total Denmark

Corporate Bonds GBP


3,172

0.19

GBP


3,183

0.19

GBP

3,675,000 BNP Paribas SA 1.125% 16/08/2022

3,590

0.22

GBP

2,700,000 BNP Paribas SA 2.375% 20/11/2019

2,737

0.17

GBP

5,300,000 BPCE SA 5.25% 16/04/2029^

6,089

0.37

GBP


8,492

0.52

0.21

5,610

0.34

24,956

1.53

Corporate Bonds 3,790,000 Glencore Canada Financial Corp 7.375% 27/05/2020

5,250,000 Orsted A/S 4.875% 12/01/2032


Canada (28 February 2018: 0.28%) GBP

GBP

4,142

0.25

4,142

0.25

iSHARES PLC

Schedule of Investments (unaudited) (continued) iSHARES CORE £ CORP BOND UCITS ETF (continued) As at 31 August 2018

Ccy

Holding Investment

Fair value £'000


GBP GBP GBP GBP GBP GBP

Holding Investment




Corporate Bonds GBP

Corporate Bonds (cont) GBP

Ccy


Fair value £'000


5,201

0.32

5,201

0.32

4,164,000 Enel SpA 5.75% 22/06/2037^ Total Italy

13,117

0.80

5,982

0.37

12,100

0.74

GBP


3,350,000 Glencore Finance Europe Ltd 6% 03/04/2022

3,756

0.23

13,777

0.84

GBP



5,786

0.35

4,738

0.29

GBP



5,386

0.33

3,099

0.19

GBP

11,532

0.71


7,980

0.49

GBP

6,230,000 Heathrow Funding Ltd 6.45% 10/12/2031^

8,656

0.53

GBP


6,711

0.41

38,275

2.34

4,631,000 Electricite de France SA 5.875% 18/07/2031 9,200,000 Electricite de France SA 6% 23/01/2114

7,650,000 Engie SA 5% 01/10/2060

Jersey (28 February 2018: 2.36%) Corporate Bonds

GBP

3,250,000 Engie SA 7% 30/10/2028

4,596

0.28

GBP

3,200,000 Orange SA 5.375% 22/11/2050^

4,410

0.27

GBP

3,800,000 Orange SA 5.625% 23/01/2034

5,006

0.31

GBP

3,728,000 Orange SA 8.125% 20/11/2028

5,537

0.34

Total Jersey

GBP


1,941

0.12


113,098

6.92

Total France Germany (28 February 2018: 0.98%)

Corporate Bonds GBP

1,650,000 Aroundtown SA 3% 16/10/2029

1,590

0.10

GBP

2,691,000 Aroundtown SA 3.25% 18/07/2027^

2,672

0.16

GBP


2,340

0.14

GBP

2,387

0.15

8,989

0.55

Corporate Bonds GBP

2,000,000 Deutsche Bank AG 1.75% 16/12/2021

GBP

5,500,000 Deutsche Bank AG 1.875% 28/02/2020

5,482

0.33


Total Germany

7,439

0.45

Total Luxembourg

1,957

0.12



Corporate Bonds

Corporate Bonds GBP


GBP

3,950,000 Credit Suisse Group Funding Guernsey Ltd 3% 27/05/2022

4,091

0.25

Total Guernsey

7,464

0.46

3,373

GBP


5,910

0.36

GBP


2,604

0.16

GBP

4,050,000 America Movil SAB de CV 5% 27/10/2026

4,793

0.29

GBP


5,616

0.35

18,923

1.16

0.21


Total Mexico

GBP


5,568

0.34

GBP


2,817

0.17

GBP


GBP


GBP

360,000

Interim report and unaudited financial statements

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