SPDR® ETF Family Announces Impact of Receiving Settlement Payment
31 October 2014 - 9:11AM
Business Wire
The SPDR® S&P Capital Markets ETF (NYSE: KCE- News),
announced today that the Fund received payment as an authorized
claimant from a class action settlement related to Bear
Stearns.
The total amount payable to the Fund is listed below. When the
Fund calculates its net asset value (“NAV”) per share on Friday,
October 31, 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 October 29, 2014.
Fund
Settlement Payment
Shares Outstandingas of October
29,2014
Per Share Amount SPDR® S&P Capital Markets
ETF $173,540 3,900,000
$0.04450
State Street manages more than $413* billion in SPDR ETF assets
worldwide (as of September 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 $30 billion as of September 30, 2014), for which
State Street Global Markets, LLC, an affiliate of SSgA, serves as
the distribution agent.
Investing involves risk including the risk of loss of
principal.
The whole or any part of this work may not be reproduced, copied
or transmitted or any of its contents disclosed to third parties
without State Street's express written consent.
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.
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.
The Fund invests by sampling the Index, holding 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.
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.
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.
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.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. S&P® is a
trademark of McGraw-Hill and has been licensed for use by State
Street Bank and Trust Company.
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 which contains
this and other information call 1-866-787-2257 or visit
www.spdrs.com. Read it carefully.
CORP-1145
State Street CorporationAlicia Curran Sweeney, +1
617-664-3001www.statestreet.com@StateStreet
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