The team at an $11.551-trillion-AUM (as of December 31), publicly traded, New York City-based asset manager are preparing to launch a passively managed municipal bond fund.

Laurence D. "Larry" Fink BlackRock Chairman, CEO

Today, the BlackRock [profile] team filed to create the iShares Long-Term National Muni Bond ETF (LMUB on the NYSE Arca). San Francisco-based BlackRock will serve as investment advisor to the new index fund.

LMUB comes with an expense ratio of 9 basis points. It is designed to track the ICE AMT-Free US Long National Municipal Index.

ICE Data Indices, LLC serves as LMUB's index provider. The planned ETF's PM team includes two portfolio managers who are also managing directors: James Mauro and Karen Uyehara.

LMUB will be a series of the iShares Trust. The fund's other service providers will include: BlackRock Institutional Trust Company, N.A. (BTC) as securities lending agent; BlackRock Investments, LLC (BRIL) as distributor; JPMorgan Chase Bank, N.A. as administrator, custodian, dividend disbursing agent, and transfer agent; PricewaterhouseCoopers LLP as independent accounting firm; and Willkie Farr & Gallagher LLP as counsel. 

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