SPDR® ETF Family Announces Impact of Receiving Settlement Payment
August 07 2014 - 4:00PM
Business Wire
The Financial Select Sector SPDR® Fund (NYSE: XLF- News),
announced today that the Fund received payment as an authorized
claimant from a class action settlement related to Citigroup,
Inc.
The total amount payable to the Fund is listed below. When the
Fund calculates its net asset value (“NAV”) per share on Friday,
August 8, 2014, it is estimated that the Fund’s NAV will be
impacted by the receipt of the payment in the amount stated below
based on the shares outstanding as of August 6, 2014.
Fund
SettlementPayment
Shares Outstandingas of August
6, 2014
Per Share Amount The Financial Select Sector
SPDR® Fund $3,993,375 769,145,427
$0.0052
Source: State Street Bank and Trust
Co.
State Street manages more than $413 billion* in SPDR ETF assets
worldwide (as of June 30, 2014) and is one of the largest ETF
providers in the US and globally.
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 Corporation, one of the world’s leading
providers of financial services to institutional investors.
* Assets under management include the assets of the SPDR® Gold
ETF (approximately $33 billion as of June 30, 2014), for which
State Street Global Markets, LLC, an affiliate of SSgA, serves as
the distribution agent.
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.
Select Sector SPDR Funds bear a higher level of risk than more
broadly diversified funds. All ETFs are subject to risk, including
the possible loss of principal. Sector ETFs products are also
subject to sector risk and non-diversification risk, which
generally results in greater price fluctuations than the overall
market
Risk associated with equity investing include stock values which
may fluctuate in response to the activities of individual companies
and general market and economic conditions.
Non-diversified funds that focus on a relatively small number of
securities 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. 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’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. Further limitations and important
information that could affect investors' rights are described in
the prospectus for the applicable product.
Distributor: ALPS Distributors, Inc., a registered
broker-dealer, is distributor for SPDR S&P 500, SPDR S&P
MidCap 400 and SPDR Dow Jones Industrial Average, and all unit
investment trusts. ALPS Portfolio Solutions Distributor, Inc., a
registered broker-dealer, is distributor for Select Sector SPDRs.
ALPS Distributors, Inc. and ALPS Portfolio Solutions Distributor,
Inc. are not affiliated with State Street Global Markets, LLC.
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.
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.spdr.com. Read it carefully.
SEL001542 Exp 12/31/14
CORP-1071 Expiration date: 08/31/2015
State Street CorporationElizabeth Bartlett, +1
617-662-2903www.statestreet.com@StateStreet
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