Will Expand Self-Indexing Capabilities to Provide Access to
Small-and-Large Cap Low Volatility ETFs
State Street Global Advisors (SSGA), the asset management
business of State Street Corporation (NYSE: STT), today announced
that the underlying indices tracked by the SPDR Russell 1000 Low
Volatility ETF (LGLV) and the SPDR Russell 2000 Low Volatility ETF
(SMLV) will be changed, as a result of FTSE Russell’s decision to
terminate, as of December 16, 2016, the Russell 1000® Low
Volatility Index and the Russell 2000 Low Volatility Index.
SSGA is introducing proprietary indices that will replace the
two Russell Indexes that are being terminated. Beginning on or
about December 14, 2016, the name of the SPDR Russell 1000 Low
Volatility ETF (LGLV) will change to the SPDR SSGA US Large Cap Low
Volatility Index ETF (LGLV) and LGLV will seek to track the SSGA US
Large Cap Low Volatility Index. Also beginning on or about December
14, 2016, the name of the SPDR Russell 2000 Low Volatility ETF
(SMLV) will change to the SPDR SSGA US Small Cap Low Volatility
Index ETF (SMLV) and SMLV will seek to track the SSGA US Small Cap
Low Volatility Index. The gross and net expense ratios of both
funds will remain unchanged at 0.12 percent.
“We are excited to leverage our extensive index capabilities, as
well as quantitative driven research, to offer an innovative
solution for investors who seek to mitigate volatility in an
uncertain market,” said Nick Good, co-head of the Global SPDR
business at State Street Global Advisors. “By self-indexing we can
continue to offer proprietary small-and-large cap low volatility
ETFs to our current and future SPDR clients.”
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 unrivaled 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 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.
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.
Returns on investments in stocks of large U.S. companies
could trail the returns on investments in stocks of smaller and
mid-sized companies.
Investments in small-sized companies may involve greater
risks than in those of larger, better known companies. Returns on
investments in stocks of small companies could trail the returns on
investments in stocks of larger companies.
Although subject to the risks of common stocks, low
volatility stocks are seen as having a lower risk profile than
the overall markets. However, a portfolio comprised of low
volatility stocks may not produce investment exposure that has
lower variability to changes in such stocks' price levels.
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.
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.
Equity securities may fluctuate in value in response to
the activities of individual companies and general market and
economic conditions.
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.
The Russell 1000® Low Volatility Index and Russell 2000® Low
Volatility Index are trademarks of Russell Investment Group and
have been licensed for use by State Street Bank and Trust Company
through its State Street Global Advisors Division. The Products are
not sponsored, endorsed, sold or promoted by Russell Investment
Group and Russell Investment Group makes no representation
regarding the advisability of investing in the Product.
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.
Not FDIC Insured • No Bank Guarantee • May Lose Value
CORP-2401
Exp. Date: 11/30/17
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version on businesswire.com: http://www.businesswire.com/news/home/20161118005384/en/
State Street CorporationAndrew Hopkins, +1
617-664-2422Ahopkins2@StateStreet.com
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