The proposal aims to give investors more choice without shifting existing mutual fund holdings.

BlackRock has filed initial registration statement with the US Securities and Exchange Commission (SEC) to add exchange-traded fund (ETF) share classes to five active mutual funds. BlackRock explained that the new share classes would bring nearly US$55 billion in combined assets The proposed funds include the BlackRock High Yield Portfolio, BlackRock Strategic Municipal Opportunities Fund, BlackRock California Municipal Opportunities Fund, BlackRock New York Municipal Opportunities Fund and