State Street Launches BRIC ETF
June 21 2007 - 3:13PM
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�, today announced that the
SPDR� S&P� BRIC 40 ETF (Ticker: BIK) will begin trading on the
American Stock Exchange (Amex) on June 22, 2007. This new SPDR
seeks to track the S&P BRIC 40 index, the dominant BRIC
benchmark for institutional mandates and includes 40 leading
companies, representing the largest and most liquid securities in
Brazil, Russia, India, and China. All index holdings trade in
developed market exchanges (Hong Kong Stock Exchange, London Stock
Exchange, NASDAQ, and NYSE). �The launch of SPDR S&P BRIC 40
ETF reflects the significant interest that we are seeing from
financial advisors and institutional investors in this particular
segment of emerging markets,� said James Ross, senior managing
director of State Street Global Advisors. �In providing easy, low
cost�, precise exposure to the BRIC countries, it helps to
diversify and expand our offering of emerging markets ETFs.�
Economists have highlighted Brazil, Russia, India and China for
their potential global impact and predict that the BRIC countries
could displace some of the most powerful developed nations as the
world�s largest economies. With an annual expense ratio of 0.40
percent�, the SPDR S&P BRIC 40 ETF complements State Street�s
growing family of emerging markets SPDRs. In the first quarter of
2007, State Street launched six SPDRs emerging markets ETFs that
deliver exposure to segments of the market that had previously been
difficult to access. These funds include: SPDR S&P Emerging
Markets ETF (GMM); SPDR S&P Emerging Latin America ETF (GML);
SPDR S&P Emerging Middle East & Africa ETF (GAF); SPDR
S&P Emerging Europe ETF (GUR); SPDR S&P Emerging Asia
Pacific ETF (GMF); and SPDR S&P China ETF (GXC). State Street
manages more than $114 billion in ETF assets worldwide (as of March
31, 2007) and is one of the largest providers in the United States
and globally, with a market share of nearly 20 percent. ** About
State Street Global Advisors State Street Global Advisors, the
investment management arm of State Street Corporation, delivers
investment strategies and integrated solutions to clients worldwide
across every asset class, investment approach and style. With
US$1.7�trillion in assets under management as of December 31, 2006,
State Street Global Advisors has investment centers in Boston, Hong
Kong, London, Milan, Montreal, Munich, Paris, Singapore, Sydney,
Tokyo and Zurich, and offices in 25 cities worldwide. * The Funds
are advised by SSgA Funds Management Inc., a registered investment
adviser and a wholly owned subsidiary of State Street Corporation.
** Source: SSgA Advisor Consulting Services as of March 31, 2007
ETFs trade like stocks, are subject to investment risk and will
fluctuate in market value. Foreign investments involve greater
risks than U.S. investments, including political and economic risks
and the risk of currency fluctuations, all of which may be
magnified in emerging markets. Securities focused on a single
country involve heightened risk and volatility. The �SPDR�
trademark is used under license from The McGraw-Hill Companies,
Inc. (�McGraw-Hill�). No financial product offered by State Street
Corporation or its affiliates is sponsored, endorsed, sold or
promoted by McGraw-Hill. �Source: Pensions & Investments
magazine, based on assets under management as of December 31, 2006.
�Frequent trading of ETF�s could significantly increase commissions
and other costs such that they may offset any savings from low fees
or costs. �The Advisor has contractually agreed to waive its
advisory fee and reimburse certain expenses, until June 19th, 2008,
so that the Fund�s Net Annual and Operating Expenses are limited to
0.40% of the Fund�s average daily net assets. Unless renewed prior
the waiver expiration, the expense ratio will revert to 0.50%.
Distributor: State Street Global Markets, LLC, member NASD, SIPC.
Before investing, carefully consider the funds� investment
objectives, risks, charges and expenses. A prospectus, which
contains this and other important information about the fund can be
obtained by calling 866.787.2257. Read it carefully before
investing. 10540-0608
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