State Street Global Advisors Launches Nine New Exchange-Traded Funds
November 15 2005 - 11:00AM
Business Wire
New Line-up Includes the SPDR(R) Dividend ETF, Dow Jones Wilshire
Style ETFs and Ground-breaking KBW Sub-sector ETFs. State Street
Global Advisors (SSgA), the investment management arm of State
Street Corporation (NYSE: STT) and one of the largest institutional
asset managers in the world, announced today that it has launched
nine new exchange-traded funds (ETFs): the SPDR(R) Dividend ETF as
well as eight under the streetTRACKS(R) name, which include three
Keefe, Bruyette and Woods financial industry sub-sector ETFs and
five style-based ETFs tracking Dow Jones Wilshire indices. The
funds were welcomed this morning with a bell-ringing ceremony on
the American Stock Exchange.(a) The new funds, and their ticker
symbols, are: -0- *T FUND NAME TICKER SYMBOL SPDR Dividend ETF SDY
streetTRACKS KBW Bank ETF KBE streetTRACKS KBW Capital Markets ETF
KCE streetTRACKS KBW Insurance ETF KIE streetTRACKS DJ Wilshire
Large Cap ETF ELR streetTRACKS DJ Wilshire Mid Cap ETF EMM
streetTRACKS DJ Wilshire Mid Cap Growth ETF EMG streetTRACKS DJ
Wilshire Mid Cap Value ETF EMV streetTRACKS DJ Wilshire Small Cap
ETF DSC *T The SPDR Dividend ETF tracks the S&P(R) High Yield
Dividend Aristocrats Index, which includes the 50 highest-yielding
S&P Composite 1500 constituents that have increased their
dividends every year over the past 25 years. "The introduction of
the SPDR Dividend ETF underscores our commitment to providing
investors with sophisticated, yet practical investment options that
complement a diverse range of investment products and are aimed at
helping investors reach their financial goals," said Jim Ross,
co-head of SSgA's Advisor Strategies unit. "With benchmark changes
on the existing streetTRACKS Dow Jones style ETFs to reflect the DJ
Wilshire Style Indexes, SSgA's five new DJ Wilshire Style ETFs
round out the streetTRACKS family of style-based ETFs. These
offerings give investors access to all segments of the U.S. equity
market that together comprise the SSgA DJ Wilshire Total Market
ETF, the total market benchmark offering we launched earlier this
year. We believe these additions provide financial advisors and
their clients with a more complete suite of tools to build
portfolios." SSgA's new sub-sector ETFs are based on indices
tracked by Keefe, Bruyette & Woods. The streetTRACKS KBW ETFs
track the bank, capital markets and insurance subsets of KBW's
financial industry index. "State Street's new financial industry
sub-sector ETFs are the first of their kind in the marketplace and
represent State Street Global Advisors' continued commitment to
developing innovative ETF solutions for investors," said Greg
Ehret, co-head of SSgA's Advisor Strategies unit. "In recent years,
many institutional investors have used industry and sector-driven
ETFs to inject their portfolios with higher 'alpha' return
potential. These sub-sector ETFs take sector investing to its next
evolutionary level, and we expect them to receive a warm welcome
from professional investors." State Street, in partnership with the
American Stock Exchange, introduced the first ETF, the SPDR, in
1993. "The launch of nine new ETFs on the American Stock Exchange
is a tribute to our long-standing relationship with State Street,"
said Cliff Weber, senior vice president of the Amex ETF
Marketplace. "We are proud to partner once again with an innovative
firm such as State Street in bringing exciting new ETF investing
opportunities to the marketplace." Since the introduction of the
SPDR, State Street Global Advisors continues to be an innovator of
ETF products. In December 2004, in cooperation with China Asset
Management Company, SSgA announced the availability of the first
ETF in China- the Shanghai 50 ETF, based on the new Shanghai 50
Index. Last November, SSgA partnered with the World Gold Trust
Services, a subsidiary of the World Gold Council, to bring to
market streetTRACKS Gold Shares (GLD), the first commodity-based,
exchange traded security in the United States. GLD has garnered
$3.2 billion in assets in its first year of operations.(1) State
Street Global Advisors currently has more than $80 billion in ETF
assets under management worldwide, which represents approximately
22 percent of ETF assets globally.(1) SSgA Funds Management, Inc.
(SSgA FM) is the advisor for the SPDR Dividend ETF and the
streetTRACKS family of ETFs. SSgA FM, with other investment
management affiliates of State Street Corporation, comprise State
Street Global Advisors, the investment management arm of State
Street Corporation. SSgA is the largest institutional investment
manager in the world delivering investment strategies and
integrated solutions to clients worldwide across every asset class,
investment approach and style. With $1.4 trillion in investment
programs and portfolios (as of September 30, 2005), State Street
Global Advisors has investment centers in Boston, Hong Kong,
London, Milan, Montreal, Munich, Paris, Singapore, Sydney, Tokyo,
and Zurich. For more information, visit at www.ssga.com. The
American Stock Exchange(R) (Amex(R)) is the only primary exchange
that offers trading across a full range of equities, options and
exchange traded funds (ETFs), including structured products and
HOLDRS(SM). In addition to its role as a national equities market,
the Amex is the pioneer of the ETF, responsible for bringing the
first domestic product to market in 1993. Leading the industry in
ETF listings, the Amex lists 186 ETFs to date. The Amex is also one
of the largest options exchanges in the U.S., trading options on
broad-based and sector indexes as well as domestic and foreign
stocks. (1) Source: SSgA Advisor Consulting Services as of October
31, 2005. (a) A replay of a press conference which followed the
bell-ringing ceremony can be accessed today at 1-888-989-4365 (pass
code 32206). It will be available for six months. An investor
should consider the investment objectives, risks, charges, and
expenses carefully before investing. To obtain a prospectus, which
contains this and other information about the funds, visit
www.streettracks.com. Please read the prospectus carefully before
investing. ETFs trade like a stock and are subject to market risk.
streetTRACKS (R), and SPDR Dividend ETF are distributed by State
Street Global Markets, LLC, member NASD, SIPC, BSE. State Street
Global Markets, LLC is a wholly owned subsidiary of State Street
Corporation.
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