The SPDR® Exchange Traded Funds (ETF) listed in the table below,
announced today that each Fund received a payment as an authorized
claimant from certain class action settlements.
The total payments to be received by the Funds are listed below.
When the Funds calculate their net asset value (“NAV”) per share on
Monday, November 14, 2016, it is estimated that the Fund’s NAV will
be impacted in the amount stated below based on shares outstanding
as of November 10, 2016.
Fund Payment
Amount
Class Action
CompanyReference
Shares Outstanding as ofNovember
10, 2016
Per Share Impact
SPDR® S&PPharmaceuticals ETF (XPH)
$75,476
Impax Laboratories, Inc.(NASDAQ: IPXL)
12,150,270 $0.0062
SPDR® S&PPharmaceuticals ETF (XPH)
$265,266
Questcor Pharmaceuticals, Inc.(NASDAQ:
QCOR)
12,150,270 $0.0218
Total $340,742
12,150,270 $0.0280
SPDR® S&P Metals &Mining ETF
(XME)
$309,217
Global Specialty Metals,Inc. (NASDAQ:
GSM)
29,800,230 $0.0104
SSGA manages approximately $478 billion in SPDR ETF assets
worldwide (as of September 30, 2016) 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 are managed by
SSGA Funds Management, Inc., a registered investment adviser and
wholly owned subsidiary of State Street Corporation. The funds
provide investors with the flexibility to select investments that
are precisely aligned to their investment strategy. Recognized as
an industry pioneer, State Street created the first US listed ETF
in 1993 (SPDR S&P 500® – Ticker SPY) and has remained on the
forefront of responsible innovation, as evidenced by 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
For nearly four decades, State Street Global Advisors has been
committed to helping financial professionals and those who rely on
them achieve their investment objectives. We partner with
institutions and financial professionals to help them reach their
goals through a rigorous, research-driven process spanning both
active and index disciplines. We take pride in working closely with
our clients to develop precise investment strategies, including our
pioneering family of SPDR ETFs. With trillions* in assets under
management, our scale and global footprint provide access to
markets and asset classes, and allow us to deliver expert insights
and investment solutions.
State Street Global Advisors is the investment management arm of
State Street Corporation.
*Assets under management were $2.4 trillion as of September
30, 2016. AUM reflects approx. $40 billion (as of 9/30/2016) with
respect to which State Street Global Markets, LLC (SSGM) serves as
marketing agent; SSGM and State Street Global Advisors are
affiliated.
Important Information
Investing involves risk including the risk of loss of
principal.
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.
In general, ETFs can be expected to move up or down in value
with the value of the applicable index. Although ETFs may be bought
and sold on the exchange through any brokerage account, ETFs are
not individually redeemable from the Fund. Investors may acquire
ETFs and tender them for redemption through the Fund in Creation
Unit Aggregations only, please see the prospectus for more
details.
Because of their narrow focus, sector investing tends to
be more volatile than investments that diversify across many
sectors and companies.
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.
Passively managed funds hold a range of securities that,
in the aggregate, approximates the full Index in terms of key risk
factors and other characteristics. This may cause the fund to
experience tracking errors relative to performance of the
index.
While the shares of ETFs are tradable on secondary markets, they
may not readily trade in all market conditions and may trade at
significant discounts in periods of market stress.
The information provided does not constitute investment advice
and it should not be relied on as such. It should not be considered
a solicitation to buy or an offer to sell a security. It does not
take into account any investor's particular investment objectives,
strategies, tax status or investment horizon. You should consult
your tax and financial advisor. All material has been obtained from
sources believed to be reliable. There is no representation or
warranty as to the accuracy of the information and State Street
shall have no liability for decisions based on such
information.
Standard & Poor’s, S&P and SPDR are registered
trademarks of Standard & Poor’s Financial Services LLC
(S&P); Dow Jones is a registered trademark of Dow Jones
Trademark Holdings LLC (Dow Jones); and these trademarks have been
licensed for use by S&P Dow Jones Indices LLC (SPDJI) and
sublicensed for certain purposes by State Street Corporation. State
Street Corporation’s financial products are not sponsored,
endorsed, sold or promoted by SPDJI, Dow Jones, S&P, their
respective affiliates and third party licensors and none of such
parties make any representation regarding the advisability of
investing in such product(s) nor do they have any liability in
relation thereto, including for any errors, omissions, or
interruptions of any index.
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.
State Street Corporation, One Lincoln Street, Boston, MA
02111-2900
© 2016 State Street Corporation - All Rights Reserved
Not FDIC Insured –No Bank Guarantee – May Lose Value
CORP-2346
Exp. Date: 11/30/17
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version on businesswire.com: http://www.businesswire.com/news/home/20161111005868/en/
State Street CorporationAndrew Hopkins, +1
617-664-2422Ahopkins2@StateStreet.com
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