State Street Global Advisors Debuts SPDR® Barclays Capital Issuer Scored Corporate Bond Exchange Traded Fund
April 07 2011 - 10:04AM
Business Wire
State Street Global Advisors (SSgA)*, the asset management
business of State Street Corporation (NYSE: STT), today announced
the launch of the SPDR® Barclays Capital Issuer Scored Corporate
Bond Exchange Traded Fund (ETF) (Symbol: CBND). The new ETF
provides access to a new corporate bond indexing methodology. SSgA
will soon launch its Issuer Scored Corporate Index Strategy to
further enhance the firm’s fixed income offering, which includes
more than $3811 billion in assets globally.
Designed to provide an alternative to market value weighted
index strategies, the SPDR Barclays Capital Issuer Scored Corporate
Bond ETF (Symbol: CBND) seeks to track the performance of the
Barclays Capital Issuer Scored Corporate Index. The Index includes
publicly issued US dollar-denominated corporate issues that are
rated investment grade and have $250 million or more of par amount
outstanding. Individual issuers in the Index are weighted using the
following quantitative measures: return on assets, interest
coverage and current ratio. Rebalancing based on these ratios
occurs every six months on the last business day of March and
September.
“Despite some compression in spreads over the past year,
corporate credit remains a very attractive asset class for
investors,” said Kevin Anderson, global chief investment officer
for Fixed Income and Currency at State Street Global Advisors. “The
SPDR Barclays Capital Issuer Scored Corporate Bond ETF and
forthcoming SSgA Issuer Scored Corporate Index Strategy strengthen
our fixed income offering by providing investors and advisors with
solutions that address the concerns some have with the allocation
of capital in existing corporate credit index strategies.”
The SPDR Barclays Capital Issuer Scored Corporate Bond ETF began
trading on the NYSE Arca on April 7, 2011, and the SSgA Issuer
Scored Corporate Index Strategy will soon be available to eligible
institutional investors.
“The launch of the SPDR Barclays Capital Issuer Scored Corporate
Bond ETF marks the start of a new chapter in fixed income
investing,” said James Ross, senior managing director and global
head of SPDR Exchange Traded Funds at State Street Global Advisors.
“A testament to our commitment to developing innovative SPDR ETFs,
CBND can help investors diversify their fixed income holdings with
an indexing strategy that provides an effective, transparent means
of capturing the sources of corporate bond returns.”
About SPDR Exchange Traded Funds
SPDR ETFs are a comprehensive family spanning an array of
international and domestic asset classes. SPDR ETFs are managed by
SSgA Funds Management, Inc., a registered investment adviser and
wholly owned subsidiary of State Street Bank and Trust Company. The
funds 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.
1 As of 12/31/2010
*SPDR ETFs are managed by SSgA Funds Management, Inc., a
registered investment adviser and wholly owned subsidiary of State
Street Bank & Trust Company.
**Source: SSgA Global Strategy & Research. This AUM includes
the assets of the SPDR Gold Trust (approx. $58 billion as of
December 31, 2010), for which State Street Global Markets, LLC, an
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.
“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 or its affiliates is sponsored, endorsed, sold or promoted
by S&P.
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-0311
State Street (NYSE:STT)
Historical Stock Chart
From May 2024 to Jun 2024
State Street (NYSE:STT)
Historical Stock Chart
From Jun 2023 to Jun 2024