SPDR ® ETF Family Announces Impact of Receiving Settlement Payments
December 02 2010 - 9:21PM
Business Wire
The SPDR® S&P 500 ETF Trust (NYSE:SPY - News) and the Health
Care Select Sector SPDR Fund (NYSE:XLV - News) today announced that
the Funds received payment as an authorized claimant from a class
action settlement related to Bristol-Myers Squibb Co.
The total amount payable to each Fund is listed below. When the
Funds calculate their net asset value (“NAV”) per share on Friday,
December 3, 2010, it is estimated that each Fund’s NAV will be
impacted by the receipt of the corresponding payment in the amount
stated below based on the shares outstanding as of December 1,
2010.
Fund
SettlementPayment
SharesOutstanding as ofDecember 1,
2010
Per ShareAmount
SPDR® S&P500 ETF Trust(ticker:
SPY)
$2,242,232 658,932,116 $0.0034
Health CareSelect SectorSPDR Fund(ticker:
XLV)
$443,879 90,415,324 $0.0049
State Street manages $224 billion in SPDR ETF assets worldwide
(as of September 30, 2010) and is one of the largest ETF providers
in the US and globally.
About State Street Global Advisors
State Street Global Advisors is a global leader in asset
management. We are relied on by sophisticated investors worldwide
for our disciplined investment process, powerful global investment
platform and access to every major asset class, capitalization
range and style. SSgA is the asset management business of State
Street, one of the world’s leading providers of financial services
to institutional investors.
Note to Editors: SPDR® Exchange Traded Funds
SPDR ETFs are a comprehensive family spanning an array of
international and domestic asset classes. SPDR ETFs provide
professional investors with the flexibility to select investments
that are precisely aligned to their investment strategy. Recognized
as the industry pioneer, State Street—in partnership with the
American Stock Exchange—created the first ETF in 1993 (SPDR S&P
500 – Ticker SPY). Since then, we’ve sustained our place as an
industry innovator through the introduction of many ground-breaking
products, including first-to-market successes with gold,
international real estate, international fixed income and sector
ETFs. SPDR ETFs are managed or marketed by SSgA or SSgA Funds
Management, Inc, a registered investment adviser and wholly owned
subsidiary of State Street Bank and Trust Company.
ETFs trade like stocks, are subject to investment risk,
fluctuate in market value and may trade at prices above or below
the ETFs net asset value. Brokerage commissions and ETF
expenses will reduce returns.
Frequent trading of ETFs could significantly increase
commissions and other costs such that they may offset any savings
from low fees or costs.
SPDR® is a registered trademark of Standard & Poor 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. Further limitations and important information that could
affect investors' rights are described in the prospectus for the
applicable product.
Distributor (for SPDR ETFs, except as noted below): State Street
Global Markets, LLC, member FINRA, SIPC, a wholly owned subsidiary
of State Street Corporation.
ALPS Distributors, Inc., a registered broker-dealer, is
distributor for SPDR S&P 500 shares, MidCap SPDRs and SPDR DJIA
ETF, all unit investment trusts and Select Sector SPDRs.
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.
Before investing, consider the funds’ investment objectives,
risks, charges and expenses. To obtain a prospectus which contains
this and other information call 1-866-787-2257 or visit
www.spdrs.com. Read it carefully.
CORP-0252
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