N-Q 1 d894302dnq.htm FORM N-Q FOR ISHARES INC. Form N-Q for iShares Inc.

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM N-Q

 

 

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS

OF REGISTERED MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number 811-09102

 

 

iShares, Inc.

(Exact name of Registrant as specified in charter)

 

 

c/o: State Street Bank and Trust Company

1 Iron Street, Boston, MA 02210

(Address of principal executive offices) (Zip code)

 

 

The Corporation Trust Incorporated

351 West Camden Street, Baltimore, MD 21201

(Name and address of agent for service)

 

 

Registrant’s telephone number, including area code: (415) 670-2000

Date of fiscal year end: April 30, 2015

Date of reporting period: January 31, 2015

 

 

 

Item 1. Schedules of Investments.

Schedule of Investments  (Unaudited)

iSHARES® ASIA/PACIFIC DIVIDEND ETF

January 31, 2015

 

Security       
    
Shares		     Value  
   

COMMON STOCKS — 99.87%

  

AUSTRALIA — 45.90%

  

  

ALS Ltd.

     333,806      $ 1,273,761   

Amcor Ltd.

     124,740        1,241,466   

AusNet Services

     2,290,728        2,497,466   

Australia and New Zealand Banking Group Ltd.

     65,428        1,681,418   

Bendigo & Adelaide Bank Ltd.

     195,162        2,033,525   

Commonwealth Bank of Australia

     24,860        1,729,404   

Metcash Ltd.

     1,098,482        1,248,947   

Mineral Resources Ltd.

     307,296        1,612,928   

Monadelphous Group Ltd.a

     198,374        1,260,588   

National Australia Bank Ltd.

     65,780        1,825,189   

Suncorp Group Ltd.

     126,302        1,447,825   

Sydney Airport

     531,916        2,067,006   

Telstra Corp. Ltd.

     428,142        2,167,201   

Westpac Banking Corp.

     67,232        1,804,220   

WorleyParsons Ltd.

     142,274        1,065,856   
   

 

 

  
      24,956,800   

HONG KONG — 19.06%

  

  

Giordano International Ltd.

     2,310,000        1,093,424   

Hang Seng Bank Ltd.

     92,400        1,618,387   

PCCW Ltd.

     4,966,000        3,304,966   

Sino Land Co. Ltd.

     1,234,000        2,069,041   

VTech Holdings Ltd.a

     161,700        2,279,507   
   

 

 

  
      10,365,325   

JAPAN — 10.63%

  

  

Accordia Golf Co. Ltd.

     141,400        1,445,719   

Eisai Co. Ltd.

     33,600        1,684,219   

NTT DOCOMO Inc.

     80,700        1,377,462   

TonenGeneral Sekiyu K.K.

     143,000        1,272,166   
   

 

 

  
      5,779,566   

NEW ZEALAND — 11.64%

  

  

SKYCITY Entertainment Group Ltd.

     798,952        2,278,926   

Spark New Zealand Ltd.

     1,689,996        4,047,777   
   

 

 

  
      6,326,703   

SINGAPORE — 12.64%

  

  

SATS Ltd.a

     504,000        1,102,535   

Singapore Post Ltd.

     1,598,000        2,527,322   

Singapore Telecommunications Ltd.

     565,000        1,703,644   

StarHub Ltd.

     498,582        1,540,221   
   

 

 

  
      6,873,722   
   

 

 

  

TOTAL COMMON STOCKS

  

  

(Cost: $58,143,457)

  

     54,302,116   
Security       
    
Shares		     Value  
   

SHORT-TERM INVESTMENTS — 6.58%

  

MONEY MARKET FUNDS — 6.58%

  

  

BlackRock Cash Funds: Institutional,
SL Agency Shares

   

  

0.15%b,c,d

     3,370,419      $ 3,370,419   

BlackRock Cash Funds: Prime,
SL Agency Shares

   

  

0.14%b,c,d

     202,747        202,747   

BlackRock Cash Funds: Treasury,
SL Agency Shares

   

  

0.00%b,c

     3,381        3,381   
   

 

 

  
      3,576,547   
   

 

 

  

TOTAL SHORT-TERM INVESTMENTS

  

  

(Cost: $3,576,547)

  

     3,576,547   
   

 

 

  

TOTAL INVESTMENTS
IN SECURITIES — 106.45%

   

  

(Cost: $61,720,004)

       57,878,663   

Other Assets, Less Liabilities — (6.45)%

  

     (3,509,038 ) 
   

 

 

  

NET ASSETS — 100.00%

  

   $ 54,369,625   
   

 

 

  

 

a 

All or a portion of this security represents a security on loan. See Note 1.

b 

Affiliated issuer. See Note 2.

c 

The rate quoted is the annualized seven-day yield of the fund at period end.

d 

All or a portion of this security represents an investment of securities lending collateral. See Note 1.

See accompanying notes to schedules of investments.

 

 

     1   

Schedule of Investments  (Unaudited)

iSHARES® EMERGING MARKETS DIVIDEND ETF

January 31, 2015

 

Security        
    
Shares		      Value  
     

COMMON STOCKS — 93.24%

  

BRAZIL — 5.25%

  

   

Banco do Brasil SA

      255,000       $ 1,962,708   

CCR SA

      255,000         1,451,606   

CPFL Energia SA

      265,200         1,663,798   

Light SA

      428,400         2,259,945   

Souza Cruz SA

      214,200         1,794,709   

Tractebel Energia SA

      183,600         2,129,984   
     

 

 

  
        11,262,750   

CHILE — 1.37%

  

   

CAP SA

      110,568         271,094   

CorpBanca SA

      103,102,722         1,141,822   

Empresa Nacional de Telecomunicaciones SA

      162,282         1,525,527   
     

 

 

  
        2,938,443   

CHINA — 8.24%

  

   

Anta Sports Products Ltd.

      1,020,000         1,797,055   

China Shanshui Cement Group Ltd.a

      9,486,000         4,172,037   

Dongyue Group Ltd.

      3,672,000         1,288,197   

Evergrande Real Estate Group Ltd.a

      159,000         66,238   

Guangzhou R&F Properties Co. Ltd. Class Ha

      1,713,600         1,947,135   

PetroChina Co. Ltd. Class H

      1,632,000         1,766,008   

Shenzhen Investment Ltd.

      6,936,000         2,003,862   

Shougang Fushan Resources Group Ltd.a

      6,168,000         1,272,843   

Zhejiang Expressway Co. Ltd. Class H

      2,652,000         3,382,832   
     

 

 

  
        17,696,207   

CZECH REPUBLIC — 3.31%

  

   

CEZ AS

      123,726         2,899,280   

Komercni Banka AS

      9,996         2,037,373   

O2 Czech Republic AS

      244,800         2,164,102   
     

 

 

  
        7,100,755   

EGYPT — 0.44%

  

   

Commercial International Bank Egypt SAE SP GDR

      132,600         949,416   
     

 

 

  
        949,416   

INDIA — 0.48%

  

   

Reliance Industries Ltd. SP GDRa,b

      34,272         1,021,306   
     

 

 

  
        1,021,306   

INDONESIA — 4.97%

  

   

PT AKR Corporindo Tbk

      2,733,600         1,013,164   

PT Aneka Tambang (Persero) Tbk

      13,362,000         1,123,389   

PT Indo Tambangraya Megah Tbk

      1,611,600         2,130,989   

PT Matahari Putra Prima Tbk

      21,369,000         6,410,278   
     

 

 

  
        10,677,820   

MALAYSIA — 5.36%

  

   

Berjaya Sports Toto Bhd

      1,438,248         1,343,898   
Security        
    
Shares		      Value  
     

British American Tobacco Malaysia Bhd

      102,000       $ 1,855,568   

Kuala Lumpur Kepong Bhd

      173,400         1,083,033   

Malayan Banking Bhd

      805,800         1,936,763   

PPB Group Bhd

      153,000         614,024   

Public Bank Bhd

      224,400         1,122,000   

Sime Darby Bhd

      550,800         1,427,100   

Telekom Malaysia Bhd

      1,101,600         2,122,432   
     

 

 

  
        11,504,818   

MOROCCO — 1.70%

  

   

Maroc Telecom SA

      275,502         3,645,315   
     

 

 

  
        3,645,315   

PHILIPPINES — 0.88%

  

   

Globe Telecom Inc.

      47,430         1,878,139   
     

 

 

  
        1,878,139   

POLAND — 7.56%

  

   

KGHM Polska Miedz SA

      94,554         2,684,543   

Orange Polska SA

      693,804         1,673,461   

Powszechny Zaklad Ubezpieczen SA

      54,468         7,406,304   

Synthos SA

      3,845,604         4,456,448   
     

 

 

  
        16,220,756   

RUSSIA — 1.16%

  

   

Gazprom Neft OAO SP ADR

      161,689         1,880,443   

Mobile Telesystems OJSC

      198,860         613,758   
     

 

 

  
        2,494,201   

SOUTH AFRICA — 9.55%

  

   

African Bank Investments Ltd.a,c

      2,216,313         1,906   

Barloworld Ltd.

      145,350         1,102,715   

Exxaro Resources Ltd.a

      116,280         1,036,633   

Foschini Group Ltd. (The)

      204,510         2,947,821   

Grindrod Ltd.

      264,996         414,661   

Kumba Iron Ore Ltd.

      93,534         1,806,989   

Lewis Group Ltd.a

      492,354         3,847,905   

Nampak Ltd.

      472,056         1,729,370   

PPC Ltd.

      689,112         1,267,904   

RMB Holdings Ltd.

      347,820         1,981,776   

Tiger Brands Ltd.

      40,188         1,361,990   

Truworths International Ltd.

      221,544         1,542,865   

Woolworths Holdings Ltd.

      196,011         1,464,479   
     

 

 

  
        20,507,014   

SOUTH KOREA — 2.04%

  

   

Hyundai Marine & Fire Insurance Co. Ltd.

      47,480         1,133,164   

Korea Gas Corp.c

      19,992         826,297   

KT Corp.

      61,608         1,687,234   

KT Corp. SP ADR

      54,264         729,308   
     

 

 

  
        4,376,003   

TAIWAN — 26.86%

  

   

AmTRAN Technology Co. Ltd.

      9,180,000         5,199,772   

ASUSTeK Computer Inc.

      408,000         4,304,822   

China Bills Finance Corp.

      7,650,000         2,755,248   
 

 

2   

Schedule of Investments  (Unaudited) (Continued)

iSHARES® EMERGING MARKETS DIVIDEND ETF

January 31, 2015

 

Security       
    
Shares		     Value  
   

China Steel Corp.

     816,388      $ 691,690   

Chong Hong Construction Co.

     1,530,250        3,141,738   

Chunghwa Telecom Co. Ltd.

     612,000        1,854,634   

Dynapack International Technology Corp.

     1,326,000        3,029,559   

Far EasTone Telecommunications Co. Ltd.

     918,000        2,248,865   

Farglory Land Development Co. Ltd.

     1,632,263        1,916,440   

Feng Hsin Iron & Steel Co. Ltd.

     1,326,000        1,628,388   

Formosa Plastics Corp.

     306,840        744,864   

Formosan Rubber Group Inc.

     2,958,000        3,031,824   

Gigabyte Technology Co. Ltd.

     2,142,000        2,657,661   

Highwealth Construction Corp.

     1,530,000        3,121,805   

Huaku Development Co. Ltd.

     816,000        1,504,422   

Inventec Corp.

     1,734,475        1,293,419   

Lite-On Technology Corp.

     1,230,344        1,522,630   

Novatek Microelectronics Corp.

     510,000        2,840,211   

Oriental Union Chemical Corp.

     1,632,000        1,491,475   

Taiwan Mobile Co. Ltd.

     714,000        2,356,323   

TSRC Corp.

     1,530,925        1,824,178   

U-Ming Marine Transport Corp.

     1,326,000        2,049,160   

UPC Technology Corp.

     5,406,980        2,016,025   

Wistron NeWeb Corp.

     520,577        1,123,304   

WPG Holdings Co. Ltd.

     2,652,000        3,307,268   
   

 

 

  
      57,655,725   

THAILAND — 7.39%

  

  

Advanced Information Service PCL NVDR

     285,600        2,137,855   

Charoen Pokphand Foods PCL NVDR

     1,632,000        1,259,029   

Intouch Holdings PCL NVDR

     958,800        2,365,509   

Land & Houses PCL NVDRa

     5,426,400        1,525,294   

PTT Global Chemical PCL NVDR

     948,600        1,637,516   

Sansiri PCL NVDRa

     62,485,266        3,455,494   

Siam Cement (The) PCL NVDR

     102,000        1,545,738   

Thai Oil PCL NVDR

     1,234,200        1,932,562   
   

 

 

  
      15,858,997   

TURKEY — 6.68%

  

  

Ford Otomotiv Sanayi AS

     149,430        2,086,010   

Tofas Turk Otomobil Fabrikasi AS

     473,076        3,171,102   

Tupras Turkiye Petrol Rafinerileri AS

     168,708        3,676,211   

Turk Telekomunikasyon AS

     947,274        2,850,579   

Turk Traktor ve Ziraat Makineleri AS

     76,704        2,547,209   
   

 

 

  
      14,331,111   
   

 

 

  

TOTAL COMMON STOCKS

  

  

(Cost: $228,597,445)

  

     200,118,776   

PREFERRED STOCKS — 6.46%

  

BRAZIL — 6.46%

  

  

AES Tiete SA

     612,000        3,775,695   

Companhia Energetica de Minas Gerais

     1,285,263        5,702,810   

Oi SA

     428,280        796,184   

Telefonica Brasil SA

     193,800        3,595,574   
   

 

 

  
      13,870,263   
   

 

 

  

TOTAL PREFERRED STOCKS

  

  

(Cost: $21,899,052)

  

     13,870,263   
Security       
    
Shares		     Value  
   

SHORT-TERM INVESTMENTS — 3.88%

  

MONEY MARKET FUNDS — 3.88%

  

BlackRock Cash Funds: Institutional,
SL Agency Shares

   

  

0.15%d,e,f

     7,717,879      $ 7,717,879   

BlackRock Cash Funds: Prime,
SL Agency Shares

   

  

0.14%d,e,f

     464,268        464,268   

BlackRock Cash Funds: Treasury,
SL Agency Shares

   

  

0.00%d,e

     142,821        142,821   
   

 

 

  
    8,324,968   
   

 

 

  

TOTAL SHORT-TERM INVESTMENTS

  

  

(Cost: $8,324,968)

  

     8,324,968   
   

 

 

  

TOTAL INVESTMENTS
IN SECURITIES — 103.58%

   

  

(Cost: $258,821,465)

       222,314,007   

Other Assets, Less Liabilities — (3.58)%

  

     (7,682,118 ) 
   

 

 

  

NET ASSETS — 100.00%

     $ 214,631,889   
   

 

 

  
   

NVDR  —  Non-Voting Depositary Receipts

SP ADR  —  Sponsored American Depositary Receipts

SP GDR  —  Sponsored Global Depositary Receipts

 

a 

All or a portion of this security represents a security on loan. See Note 1.

b 

This security may be resold to qualified institutional buyers under
Rule 144A of the Securities Act of 1933.

c 

Non-income earning security.

d 

Affiliated issuer. See Note 2.

e 

The rate quoted is the annualized seven-day yield of the fund at period end.

f

All or a portion of this security represents an investment of securities lending collateral. See Note 1.

See accompanying notes to schedules of investments.

 

 

     3   

Notes to Schedules of Investments  (Unaudited)

iSHARES®, INC.

 

iShares, Inc. (the “Company”) is registered under the Investment Company Act of 1940, as amended (the “1940 Act”), as an open-end management investment company. The Company was incorporated under the laws of the State of Maryland on September 1, 1994 pursuant to amended and restated Articles of Incorporation.

These schedules of investments relate only to the following funds (each, a “Fund,” and collectively, the “Funds”):

 

iShares ETF

Asia/Pacific Dividend

Emerging Markets Dividend

 

1. SIGNIFICANT ACCOUNTING POLICIES

SECURITY VALUATION

Each Fund’s investments are valued at fair value each day that the Fund’s listing exchange is open and, for financial reporting purposes, as of the report date should the reporting date end on a day that the Fund’s listing exchange is not open. Accounting principles generally accepted in the United States of America (“U.S. GAAP”) define fair value as the price a fund would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. The BlackRock Global Valuation Methodologies Committee (the “Global Valuation Committee”) provides oversight of the valuation of investments for the Funds. The investments of each Fund are valued pursuant to policies and procedures developed by the Global Valuation Committee and approved by the Board of Directors of the Company (the “Board”).

 

  •  

Equity investments traded on a recognized securities exchange are valued at that day’s last reported trade price or the official closing price, as applicable, on the exchange where the stock is primarily traded. Equity investments traded on a recognized exchange for which there were no sales on that day are valued at the last traded price.

 

  •  

Open-end U.S. mutual funds are valued at that day’s published net asset value (NAV).

In the event that application of these methods of valuation results in a price for an investment which is deemed not to be representative of the fair value of such investment or if a price is not available, the investment will be valued based upon other available factors deemed relevant by the Global Valuation Committee, in accordance

 

4   

Notes to Schedules of Investments  (Unaudited) (Continued)

iSHARES® , INC.

 

with policies approved by the Board. These factors include but are not limited to (i) attributes specific to the investment; (ii) the principal market for the investment; (iii) the customary participants in the principal market for the investment; (iv) data assumptions by market participants for the investment, if reasonably available; (v) quoted prices for similar investments in active markets; and (vi) other factors, such as future cash flows, interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and/or default rates. Valuations based on such factors are reported to the Board on a quarterly basis.

The Global Valuation Committee employs various methods for calibrating valuation approaches for investments where an active market does not exist, including regular due diligence of the Company’s pricing vendors, a regular review of key inputs and assumptions, transactional back-testing or disposition analysis to compare unrealized gains and losses to realized gains and losses, reviews of missing or stale prices, reviews of large movements in market values, and reviews of market related activity.

Fair value pricing could result in a difference between the prices used to calculate a Fund’s net asset value and the prices used by the Fund’s underlying index, which in turn could result in a difference between the Fund’s performance and the performance of the Fund’s underlying index.

Various inputs are used in determining the fair value of financial instruments. Inputs may be based on independent market data (“observable inputs”) or they may be internally developed (“unobservable inputs”). These inputs are categorized into a disclosure hierarchy consisting of three broad levels for financial reporting purposes. The level of a value determined for a financial instrument within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement in its entirety. The categorization of a value determined for a financial instrument within the hierarchy is based upon the pricing transparency of the instrument and is not necessarily an indication of the risk associated with investing in the instrument. The three levels of the fair value hierarchy are as follows:

 

  •  

Level 1 — Unadjusted quoted prices in active markets for identical assets or liabilities;

 

  •  

Level 2 — Inputs other than quoted prices included within Level 1 that are observable for the asset or liability either directly or indirectly, including quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not considered to be active, inputs other than quoted prices that are observable for the asset or liability (such as exchange rates, financing terms, interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and default rates) or other market-corroborated inputs; and

 

  •  

Level 3 — Unobservable inputs for the asset or liability, including the Global Valuation Committee’s assumptions used in determining the fair value of investments.

Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. In accordance with the Company’s policy, transfers between different levels of the fair value hierarchy are deemed to have occurred as of the beginning of the reporting period.

The following table summarizes the value of each of the Funds’ investments according to the fair value hierarchy as of January 31, 2015. The breakdown of each Fund’s investments into major categories is disclosed in its respective schedule of investments.

 

     5   

Notes to Schedules of Investments  (Unaudited) (Continued)

iSHARES®, INC.

 

iShares ETF and
Investment Type

    Investments  
   Level 1      Level 2      Level 3      Total  

Asia/Pacific Dividend

            

Assets:

            

Common Stocks

    $ 54,302,116       $ —       $ —       $ 54,302,116   

Money Market Funds

      3,576,547         —         —         3,576,547   
  

 

 

     

 

 

     

 

 

     

 

 

  
   $ 57,878,663       $ —       $ —       $ 57,878,663   
  

 

 

     

 

 

     

 

 

     

 

 

  

Emerging Markets Dividend

            

Assets:

            

Common Stocks

    $ 200,116,870       $ —       $ 1,906       $ 200,118,776   

Preferred Stocks

      13,870,263         —         —         13,870,263   

Money Market Funds

      8,324,968         —         —         8,324,968   
  

 

 

     

 

 

     

 

 

     

 

 

  
   $ 222,312,101       $ —       $ 1,906       $ 222,314,007   
  

 

 

     

 

 

     

 

 

     

 

 

  
                                     

FOREIGN CURRENCY TRANSLATION

The accounting records of the Funds are maintained in U.S. dollars. Foreign currencies, as well as investment securities and other assets and liabilities denominated in foreign currencies, are translated into U.S. dollars using exchange rates deemed appropriate by the investment adviser. Purchases and sales of securities, income receipts and expense payments are translated into U.S. dollars on the respective dates of such transactions.

FEDERAL INCOME TAXES

As of January 31, 2015, gross unrealized appreciation and gross unrealized depreciation based on cost for federal income tax purposes were as follows:

 

iShares ETF    Tax Cost     

Gross

Unrealized

Appreciation

     

Gross
Unrealized

Depreciation

    

Net Unrealized

Appreciation

(Depreciation)

  

Asia/Pacific Dividend

    $ 62,088,592       $ 4,835,120       $ (9,045,049 )    $ (4,209,929 ) 

Emerging Markets Dividend

      262,427,745         12,595,766         (52,709,504 )      (40,113,738 ) 

LOANS OF PORTFOLIO SECURITIES

Each Fund may lend its investment securities to approved borrowers, such as brokers, dealers and other financial institutions. The borrower pledges and maintains with the Fund collateral consisting of cash, an irrevocable letter of credit issued by a bank, or securities issued or guaranteed by the U.S. government. The initial collateral received by each Fund is required to have a value of at least 102% of the current value of the loaned securities for securities traded on U.S. exchanges and a value of at least 105% for all other securities. The collateral is maintained thereafter, at a value equal to at least 100% of the current value of the securities on loan. The market value of the loaned securities is determined at the close of each business day of the Funds and any additional required collateral is delivered to the Funds on the next business day. During the term of the loan, each Fund is entitled to all distributions made on or in respect of the loaned securities. Loans of securities are terminable at any time and the borrower, after notice, is required to return borrowed securities within the standard time period for settlement of securities transactions.

 

6   

Notes to Schedules of Investments  (Unaudited) (Continued)

iSHARES®, INC.

 

Any cash received as collateral for securities on loan may be reinvested in certain short-term instruments either directly on behalf of a fund or through one or more joint accounts or money market funds, including those managed by BlackRock Fund Advisors (“BFA”), the Funds’ investment adviser, or its affiliates. As of January 31, 2015, any securities on loan were collateralized by cash. The cash collateral received was invested in money market funds managed by BFA and is disclosed in the schedules of investments.

The risks of securities lending include the risk that the borrower may not provide additional collateral when required or may not return the securities when due. To mitigate these risks, the Funds benefit from a borrower default indemnity provided by BlackRock, Inc. (“BlackRock”). BlackRock’s indemnity allows for full replacement of securities lent. Each Fund could suffer a loss if the value of the investments purchased with cash collateral falls below the value of the cash collateral received.

RECENT ACCOUNTING STANDARD

In June 2014, the Financial Accounting Standards Board issued guidance to improve the financial reporting of reverse repurchase agreements and other similar transactions. The guidance will require expanded disclosure for entities that enter into reverse repurchase agreements and similar transactions accounted for as secured borrowings, including securities lending. The guidance is effective for financial statements for fiscal years beginning after December 15, 2014, and interim periods within those fiscal years. Management is evaluating the impact, if any, of this guidance on the Funds’ financial statements and disclosures.

 

2. TRANSACTIONS WITH AFFILIATES

Each Fund may invest its positive cash balances in certain money market funds managed by BFA, the Funds’ investment adviser, or an affiliate. BFA is a California corporation indirectly owned by BlackRock.

 

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Item 2. Controls and Procedures.

 

  (a) The President (the Registrant’s Principal Executive Officer) and Chief Financial Officer (the Registrant’s Principal Financial Officer) have concluded that, based on their evaluation as of a date within 90 days of the filing date of this report, the disclosure controls and procedures of the Registrant (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) are reasonably designed to achieve the purposes described in Section 4(a) of the certifications filed with this Form N-Q.

 

  (b) There were no changes in the Registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) that occurred during the Registrant’s last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the Registrant’s internal control over financial reporting.

 

Item 3. Exhibits.

 

  (a) Certifications of the President (the Registrant’s Principal Executive Officer) and Chief Financial Officer (the Registrant’s Principal Financial Officer) as required by Rule 30a-2(a) under the Investment Company Act of 1940 are filed with this Form N-Q as exhibits.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

iShares, Inc.

 

By:

/s/ Manish Mehta

Manish Mehta, President (Principal Executive Officer)
Date: March 27, 2015

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated.

 

By:

/s/ Manish Mehta

Manish Mehta, President (Principal Executive Officer)
Date: March 27, 2015
By:

/s/ Jack Gee

Jack Gee, Treasurer and Chief Financial Officer

(Principal Financial Officer)

Date: March 27, 2015