State Street Global Advisors Unveils Two Emerging Markets SPDR® Exchange Traded Funds
February 24 2011 - 11:06AM
Business Wire
State Street Global Advisors (SSgA)*, the asset management
business of State Street Corporation (NYSE: STT), today announced
that the SPDR® S&P® Emerging Markets Dividend ETF (Symbol:
EDIV) and the SPDR Barclays Capital Emerging Markets Local Bond ETF
(Symbol: EBND) began trading on the NYSE Arca on February 24, 2011.
The addition of these two exchange traded funds (ETFs) strengthens
State Street’s family of emerging markets SPDR ETFs.
“Against a backdrop of historically low Treasury yields, demand
for precise exposure to innovative debt and dividend instruments is
climbing,” said James Ross, senior managing director and global
head of SPDR Exchange Traded Funds at State Street Global Advisors.
“The launch of the SPDR S&P Emerging Markets Dividend ETF and
SPDR Barclays Capital Emerging Markets Local Bond ETF helps to
underscore the evolution of views on diversification – investors no
longer see emerging markets as a single, uniform asset class.”
The SPDR S&P Emerging Markets Dividend ETF is designed to
track the performance of the S&P Emerging Markets Dividend
Opportunities Index. The Index is comprised of 100 of the highest
yielding emerging markets stocks, based on market capitalization,
in the S&P Dividend Opportunities family of indices.
Constituents include publicly traded companies with market
capitalizations of at least $1 billion (float-adjusted market cap
of $300 million). The SPDR S&P Emerging Markets Dividend ETF’s
expense ratio is 0.59%.
The SPDR Barclays Capital Emerging Markets Local Bond ETF is
designed to track the price and yield performance of the Barclays
Capital EM Local Currency Government Diversified Index. The Index
includes government bonds issued by countries outside of the United
States, in local currencies, that have a remaining maturity of one
year or more and are rated B3/B-/B- or higher using the middle of
Moody’s Investor Service, Inc., Standard & Poor’s, Inc. and
Fitch, Inc. respectively. Each of the component securities in the
Index is a constituent of the Barclays Capital EM Local Currency
Government Diversified Index. The SPDR Barclays Capital Emerging
Markets Local Bond ETF’s expense ratio is 0.5%.
State Street manages $255 billion** in SPDR ETF assets worldwide
(as of December 31, 2010) and is one of the largest ETF providers
in the US and globally.
About 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 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 launches with
gold, international real estate, international fixed income and
sector ETFs. For more information, visit www.spdrs.com.
About State Street Global Advisors
State Street Global Advisors (SSgA) is a global leader in asset
management. The firm is relied on by sophisticated investors
worldwide for its 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.
*SPDR ETFs are managed by SSgA Funds Management, Inc., a
registered investment adviser and wholly owned subsidiary of State
Street Bank & Trust Company.
**Source: State Street Global ETF Strategy & Research. This
AUM includes the assets of the SPDR Gold Trust (approx. $56 billion
as of December 31, 2010) for which State Street Global Markets,
LLC, and affiliate of State Street Global Advisors serves as the
marketing agent.
Important Risk Information:
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.
Bond funds contain interest rate risk (as interest rates rise
bond prices usually fall); the risk of issuer default; issuer
credit risk; liquidity risk; and inflation risk.
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.
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.
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-0293
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