State Street Global Advisors Launches Three New SPDRs(R); New ETFs Follow Performance of Biotechnology, Home Building and Semico
February 06 2006 - 8:46AM
Business Wire
State Street Global Advisors (SSgA), the investment management arm
of State Street Corporation (NYSE: STT) and the largest
institutional fund manager in the world(1), today unveiled three
SPDR(R) exchange-traded funds (ETFs) on the American Stock
Exchange(R) (Amex(R)): SPDR Biotech (XBI), SPDR Homebuilders (XHB)
and SPDR Semiconductor (XSD). The ETFs track the performance of
specific industries and are benchmarked against the Standard &
Poor's (S&P) Select Industry(TM) Indexes. "The biotechnology,
home construction and semiconductor industries have in recent years
been key growth drivers or leading indicators of the U.S. economy,"
said Greg Ehret, co-head of SSgA's Advisor Strategies unit. "With
professional investors seeking to inject higher return potential
into their portfolios, these new SPDRs are uniquely designed so
that investors gain the most direct exposure to their respective
industries." The S&P Select Industry Indexes are constructed
from a universe of more than 5,000 securities that collectively
comprise the S&P Total Market Index. This index measures the
performance of common equities listed on the NYSE, the Amex, NASDAQ
National Market and NASDAQ Small Cap exchanges. Each S&P Select
Industry Index is constructed with an equal-weighted methodology
and is rebalanced quarterly. This prevents a few select stocks from
dominating the performance of the index. "Until now, financial
advisors seeking exposure to distinct segments of the market had
few affordable and liquid options from which to choose," said Jim
Ross, co-head of SSgA's Advisor Strategies unit. "The introduction
of these ETFs demonstrates our ability to provide investors with a
cost-effective and simple method of trading distinct slices of the
of the US economy." State Street Global Advisors currently has more
than $94 billion in ETF assets under management worldwide and is
the second largest provider in the U.S. and globally(2). In
partnership with the Amex, State Street introduced the first ETF,
the SPDR, in 1993. SSgA continues to be an innovator of ETF
products, and last November launched nine new ETFs, including the
SPDR Dividend ETF, Dow Jones Wilshire Style ETFs and KBW Sub-sector
ETFs. "We are once again proud to team up with State Street to
launch these innovative products to a market that is increasingly
turning toward more precise ETFs to round out their investment
portfolios," said Cliff Weber, senior vice president of the Amex
ETF Marketplace. "The introduction of these investment vehicles
further solidifies our long-standing relationship with State
Street." State Street Global Advisors (SSgA) is the investment
management group of State Street Corporation. SSgA delivers
investment strategies and integrated solutions to clients worldwide
across every asset class, investment approach and style. With
US$1.4 trillion in investment programs and portfolios (as of
December 31, 2005), State Street Global Advisors has investment
centers in Boston, Hong Kong, London, Milan, Montreal, Munich,
Paris, Singapore, Sydney, Tokyo, and Zurich, and offices in 28
cities worldwide. For more information, visit State Street Global
Advisors 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 currently
lists 154 ETFs. The Amex is also one of the largest options
exchanges in the U.S., trading options on broad-based and sector
indexes and ETFs, as well as domestic and foreign stocks. ETFs
trade like a stock and are subject to market risk. 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.advisors.ssga.com/etf). Please read the prospectus carefully
before investing. streetTRACKS (R), SPDR Biotech ETF, SPDR
Homebuilders ETF and SPDR Semiconductor ETF are distributed by
State Street Global Markets, LLC, member NASD, SIPC. The S&P
Indexes are trademarks of The McGraw-Hill Companies, Inc. and have
been licensed for use by State Street Bank and Trust Company. The
Product is not sponsored, endorsed, sold or promoted by Standard
& Poor's and Standard & Poor's makes no representation
regarding the advisability of investing in the
(strategy/fund/product). (1)Pensions & Investments - May 30,
2005 (2) Source: SSgA Advisor Consulting Services as of December
31, 2005
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