The SPDR® Exchange Traded Funds (ETFs) listed
in the table below, announced today that the Funds received a
payment as an authorized claimant from a class action settlement
related to American International Group, Inc. (NYSE:
AIG).
The total payments to be received by the Funds are listed below.
When the Funds calculate their net asset values (“NAV”) per share
on Monday, May 8, 2017, it is estimated that the Fund’s NAV will be
impacted by the amount stated below based on shares outstanding as
of May 4, 2017.
Fund
Payment Amount Shares Outstanding as of
May 4, 2017
Per Share Impact The Financial Select Sector
SPDR Fund (XLF) $6,348,890 971,895,427
$0.0065 SPDR S&P 500 ETF (SPY)
$4,514,335 967,932,116 $0.0047 SPDR Dow
Jones Industrial Average ETF (DIA) $1,862,431
77,992,867 $0.0239 SPDR S&P Insurance ETF
(KIE) $115,675 11,950,000
$0.0097 SPDR Global Dow ETF (DGT) $18,104
1,150,464 $0.0157
SSGA manages approximately $558 billion in SPDR ETF assets
worldwide (as of March 31, 2017) 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 $2.56 trillion as of March 31,
2017. AUM reflects approx. $33.33 billion (as of March 31, 2017)
with respect to which State Street Global Advisors Funds
Distributors, LLC serves as marketing agent; State Street Global
Advisors Funds Distributors, LLC 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 ETF shares may be
bought and sold on the exchange through any brokerage account, ETF
shares are not individually redeemable from the Fund. Investors may
acquire ETF shares and tender them for redemption through the Fund
in Creation Unit Aggregations only. Please see the Prospectus for
more details.
All ETFs are subject to risk, including possible loss of
principal. Sector ETF products are also subject to sector
risk and non-diversification risk, which generally result in
greater price fluctuations than the overall market.
Select Sector SPDR Funds bear a higher level of risk than
more broadly diversified funds.
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.
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.
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.
In addition to normal risks associated with equity investing,
international investing may involve risk of capital loss
from unfavorable fluctuations in currency values, from differences
in generally accepted accounting principles, and from adverse
political, social and economic instability in other nations.
Foreign (non-U.S.) Securities may be subject to greater
political, economic, environmental, credit and information risks.
Foreign securities may be subject to higher volatility than U.S.
securities, due to varying degrees of regulation and limited
liquidity. These risks are magnified in emerging markets.
DOW JONES INDEXES. "Dow Jones" "Dow Jones Industrial Average"
and "Global Dow" (collectively, the "Dow Jones Indexes") are each
service marks of Dow Jones & Company, Inc. Dow Jones has no
relationship to the Fund, other than the licensing of the Dow Jones
Index and its service marks for use in connection with the
Fund.
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 Advisors Funds
Distributors, LLC, member FINRA, SIPC, an indirect 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. 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. is distributor for
Select Sector SPDRs. ALPS Distributors, Inc. and ALPS Portfolio
Solutions Distributor, Inc. are not affiliated with State Street
Global Advisors Funds Distributors, LLC.
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
866.787.2257 or visit spdrs.com and respective fund's website. Read
it carefully.
State Street Corporation, One Lincoln Street, Boston, MA
02111-2900
© 2017 State Street Corporation - All Rights Reserved
Not FDIC Insured –No Bank Guarantee – May Lose Value
CORP-2924
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version on businesswire.com: http://www.businesswire.com/news/home/20170505005850/en/
State Street CorporationAndrew Hopkins, +1 617 664
2422Ahopkins2@StateStreet.com
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