State Street Unveils First International Inflation-Protected Bond ETF
March 19 2008 - 10:13AM
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� DB International Government Inflation-Protected Bond ETF
(Ticker: WIP) will begin trading on the American Stock Exchange
(Amex) on March 19, 2008. The SPDR DB International Government
Inflation-Protected Bond ETF seeks to track the DB Global
Government ex-US Inflation-Linked Bond Capped Index, which includes
120 inflation-indexed bonds from 18 developed and emerging
countries outside of the US. To be included in the Index, bonds
must be capital-indexed and linked to an eligible inflation index;
have at least one year remaining to maturity at the Index
rebalancing date; have a fixed, step-up, or zero notional coupon;
and settle on or before the Index rebalancing date. The Fund�s
expense ratio is 0.50 percent. �Demand for international
inflation-linked bond exposure has increased significantly in
recent years as investors look to improve the risk-return profile
of their portfolios by hedging against inflation and US dollar
exposure while improving diversification,� said James Ross, senior
managing director at State Street. �As the first ETF to offer
investors access to this unique asset class, the SPDR DB
International Government Inflation-Protected Bond ETF is a
compelling addition to our growing family of fixed income SPDR
ETFs.� Aram Flores, Managing Director and Head of Index Research
for the Americas, commented, �The DB Global Government ex-US
Inflation-Linked Bond Capped Index was developed to serve as a
benchmark for inflation-linked bonds, a market that has experienced
strong growth in recent years. We are pleased that State Street
Global Advisors has selected this innovative index to launch a SPDR
as the first international inflation-linked bond ETF.� State Street
manages more than $141 billion in ETF assets worldwide (as of
February 29, 2007) and is one of the largest providers in the
United States and globally. About State Street Global Advisors
State Street Global Advisors, the investment management arm of
State Street Corporation (NYSE: STT), delivers investment
strategies and integrated solutions to clients worldwide across
every asset class, investment approach and style. With $2 trillion
in assets under management at December 31, 2007, State Street
Global Advisors has investment centers in Boston, Hong Kong,
London, Milan, Montreal, Munich, Paris, Singapore, Sydney, Tokyo
and Zurich, and offices in 27 cities worldwide. For more
information, visit State Street Global Advisors at www.ssga.com. 1
Source: Pensions & Investments magazine, based on assets under
management as of December 31, 2006. 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.
Bond funds contain interest rate risk (as interest rates rise bond
prices usually fall); the risk of issuer default; and inflation
risk. Diversification does not ensure a profit or guarantee against
loss. Past performance is no guarantee of future results. It is not
possible to invest directly in an index. �Deutsche Bank� and �DB
Global Government ex-US Inflation-Linked Bond Capped Index SM� are
reprinted with permission. � Copyright 2008 Deutsche Bank AG. All
rights reserved. �Deutsche Bank� and �DB Global Government ex-US
Inflation-Linked Bond Capped Index SM� are service marks of
Deutsche Bank AG and have been licensed for use for certain
purposes for State Street Global Advisors. The SPDR� DB
International Government Inflation-Protected Bond ETF is not
sponsored, endorsed, sold or promoted by Deutsche Bank AG. Deutsche
Bank AG, as Index Provider, makes no representation, express or
implied, regarding the advisability of investing in this product.
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. S&P� and S&P 500� Index
are trademarks of The McGraw-Hill Companies, Inc. and have been
licensed for use by State Street Bank and Trust Company. Investors
should consider the investment objectives, risks, charges and
expenses of the fund carefully before investing. A prospectus which
contains this and other information about the fund can be obtained
by calling 866.787.2257 or speaking to your financial advisor. Read
the prospectus carefully before investing. Distributor: State
Street Global Markets, LLC, member FINRA, SIPC, a wholly owned
subsidiary of State Street Corporation. References to State Street
may include State Street Corporation and its affiliates. Certain
State Street affiliates provide services and receive fees from the
SPDR ETFs. 10799-0309
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