State Street Global Advisors Launches Russia Exchange Traded Fund
March 11 2010 - 10:13AM
Business Wire
State Street Global Advisors (SSgA), the investment management
business of State Street Corporation (NYSE: STT), today announced
that the SPDR® S&P® Russia ETF (Symbol: RBL) began trading on
the NYSE Arca on March 11, 2010. Its annual expense ratio is 0.59
percent.
Designed to provide investors with access to companies domiciled
in Russia. Russia is the world’s largest producer of natural gas
and oil, and the SPDR S&P Russia ETF seeks to track the
performance of the S&P BMI Russia Capped Index. The Index
includes companies domiciled in Russia with a float-adjusted market
cap of $100 million or more and a minimum value traded of $50
million for the last 12 months at the time of annual
reconstitution. As of February 26, 2010, the Index included 72
stocks.
“The launch of the SPDR S&P Russia ETF provides investors
and investment professionals with diversified, convenient access to
a country poised for potential growth as the global economy
recovers,” said Anthony Rochte, senior managing director at State
Street Global Advisors. “The driving force behind the development
of this new emerging market SPDR ETF was increasing investor demand
for more precise exposure to the BRIC countries.”
The BRIC economies, which encompass more than 25 percent of the
world’s land mass and 40 percent of the world’s population, have
posted strong growth in recent years. According to MSCI, BRIC
equities have returned 26 percent per annum versus 18 percent for
the standard emerging markets index over the last seven years
ending November 30, 2009.
The SPDR S&P Russia ETF enhances State Street’s growing
family of emerging markets SPDRs. As of March 5, 2010, State Street
Global Advisors managed more than $ 2.4 billion in 8 emerging
markets ETFs.
State Street Global Advisors is one of the largest ETF providers
globally with assets under management for SPDR ETFs totaling more
than $204 billion as of December 31, 2009.
About State Street Global Advisors
State Street Global Advisors, the investment management business
of State Street Corporation (NYSE: STT), delivers investment
strategies and integrated solutions to clients worldwide across
every asset class, investment approach and style. With $1.9
trillion in assets under management at December 31, 2009, State
Street Global Advisors has investment centers in Boston, Hong Kong,
London, Montreal, Munich, Paris, Singapore, Sydney, Tokyo, Toronto
and Zurich, and offices in 26 cities worldwide. For more
information, visit State Street Global Advisors at
www.ssga.com.
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.
Non-diversified funds that focus on a relatively small number of
stocks or countries tend to be more volatile than diversified funds
and the market as a whole.
Because of their narrow focus, sector funds tend to be more
volatile than funds that diversify across many sectors and
companies.
“SPDR®” is a registered trademark of Standard & Poor’s
Financial Services LLC (“S&P”) and has been licensed for use by
State Street Corporation. No financial product offered by State
Street Corporation or its affiliates is sponsored, endorsed, sold
or promoted by S&P or its Affiliates, and S&P and its
affiliates make no representation, warranty or condition regarding
the advisability of buying, selling or holding units/shares in such
products. Standard & Poor’s®, S&P®, SPDR®, S&P 500® and
Select Sector SPDRs® are registered trademark of Standard &
Poor’s Financial Services LLC and have been licensed for use by
State Street Corporation.
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. ALPS Distributors, Inc., a
registered broker-dealer, is distributor for SPDR shares, MidCap
SPDRs and SPDR DJIA Trust, all unit investment trusts and Select
Sector SPDRs.
Before investing, consider the funds’ investment objectives,
risks, charges and expenses. To obtain a prospectus or summary
prospectus which contains this and other information, call
1-866-787-2257 or visit www.spdrs.com. Read it
carefully.
CORP-0063
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