State Street Global Advisors Launches New International Sector ETFs
22 July 2008 - 11:03PM
Business Wire
State Street Global Advisors (SSgA), the investment management arm
of State Street Corporation (NYSE: STT), today announced the launch
of 10 new SPDR� exchange-traded funds (ETFs) that began trading on
the American Stock Exchange today [July 22, 2008]. With the launch
of these new international sector ETFs, State Street�s family of
SPDR ETFs will number 80, including 31 that provide access to
global and international markets. The 10 new international sector
SPDR ETFs offer a complete suite of precise tools to gain access to
investment opportunities outside of the United States benchmarked
to a series of the S&P� World ex U.S. Broad Market Indices,
these SPDR ETFs are market cap weighted, include only non-U.S.
holdings and utilize the widely recognized Global Industry
Classification Standard, or GICS as it is more commonly known.
�Developed in response to demand from investors seeking targeted
exposure to sectors that do not include US-listed securities, our
international sector SPDR ETFs offer the opportunity to make
precise, cost-effective tactical and strategic allocations that can
help manage portfolio risk and improve returns,� said James Ross,
senior managing director at State Street Global Advisors. �Having
launched the industry�s first sector ETFs in 1998, we are pleased
to enhance our family of international ETFs with the addition of
these new international investment tools.� The new offerings
include: ETF Name Ticker Index Description Expense Ratio SPDR�
S&P� International Consumer Discretionary Sector ETF IPD Index
includes more than 990 non-U.S. consumer discretionary companies
with market capitalizations of at least $100 million. 0.50% SPDR�
S&P� International Consumer Staples Sector ETF IPS Index
includes more than 330 non-U.S. consumer staples companies with
market capitalizations of at least $100 million. 0.50% SPDR�
S&P� International Financial Sector ETF IPF Index includes more
than 1,000 non-U.S. financial services companies with market
capitalizations of at least $100 million. 0.50% SPDR� S&P�
International Health Care Sector ETF IRY Index includes more than
330 non-U.S. health care companies with market capitalizations of
at least $100 million. 0.50% SPDR�S&P� International Industrial
Sector ETF IPN Index includes more than 1,200 non-U.S. industrial
companies with market capitalizations of at least $100 million.
0.50% SPDR� S&P� International Materials Sector ETF IRV Index
includes more than 640 non-U.S. materials companies with market
capitalizations of at least $100 million. 0.50% SPDR� S&P�
International Technology Sector ETF IPK Index includes more than
650 non-U.S. technology companies with market capitalizations of at
least $100 million. 0.50% SPDR� S&P� International
Telecommunications Sector ETF IST Index includes more than 70
non-U.S. telecommunications companies with market capitalizations
of at least $100 million. 0.50% SPDR�S&P� International
Utilities Sector ETF IPU Index includes more than 130 non-U.S.
utilities companies with market capitalizations of at least $100
million. 0.50% SPDR� S&P� International Energy Sector ETF IPW
Index includes more than 300 non-U.S. energy companies with market
capitalizations of at least $100 million. 0.50% State Street Global
Advisors is one of the largest ETF providers in the United States
and globally. As of June 30, 2008, US assets under management in
State Street�s ETFs totaled more than $138.5 billion � up from
$102.1 billion year over year. About State Street Global Advisors
State Street Global Advisors, the investment management arm of
State Street Corporation (NYSE: STT), delivers investment
strategies and integrated solutions to clients worldwide across
every asset class, investment approach and style. With $1.9
trillion in assets under management at June 30, 2008, State Street
Global Advisors has investment centers in Boston, Hong Kong,
London, Montreal, Munich, Paris, Singapore, Sydney, Tokyo, Toronto
and Zurich, and offices in 27 cities worldwide. For more
information, visit State Street Global Advisors at www.ssga.com.
Note to Editors: SPDR� Exchange Traded Funds SPDR ETFs are a
comprehensive family spanning an array of international and
domestic asset classes. Offered by State Street Global Advisors,
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 with gold, international real estate, international
fixed income and sector ETFs. SPDR ETFs are managed by SSgA Funds
Management, Inc, a registered investment adviser and wholly owned
subsidiary of State Street Bank and Trust Company. ETFs trade like
stocks, are subject to investment risk and will fluctuate in market
value. Foreign investments involve greater risks than U.S.
investments, including political and economic risks and the risk of
currency fluctuations, all of which may be magnified in emerging
markets. Diversification does not ensure a profit or guarantee
against loss. Because of their narrow focus, sector funds tend to
be more volatile than broadly diversified funds and generally
result in greater price fluctuations than the overall market.
Investments in mid-sized companies may involve greater risks than
those in larger, better known companies, but may be less volatile
than investments in smaller companies. Frequent trading of ETFs
could significantly increase commissions and other costs such that
they may offset any savings from low fees or costs. The �SPDR��
trademark is used under license from The McGraw-Hill Companies,
Inc. (�McGraw-Hill�). No financial product offered by State Street
Corporation or its affiliates is sponsored, endorsed, sold or
promoted by McGraw Hill. Investors should consider the investment
objectives, risks, charges and expenses of the fund carefully
before investing. A prospectus that contains this and other
information about the fund may be obtained by calling 866.787.2257.
Please read the prospectus carefully before investing.
Diversification does not protect against loss. 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. 10924-0709
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