State Street Strengthens International Exchange-Traded Fund Family with Launch of New Fund
January 17 2007 - 12:19PM
Business Wire
State Street Global Advisors (State Street)(a), the investment
management arm of State Street Corporation (NYSE: STT), today
announced the launch of the SPDR� MSCI ACWI (All Country World
Index) ex-US ETF (AMEX: CWI). The ETF�s benchmark is the MSCI All
Country WorldSM ex USA Index, which includes developed and emerging
markets stocks outside the United States. The CWI ETF is the first
of its kind to offer comprehensive international exposure to both
of these markets. �This new ETF complements our diverse offering of
international ETFs, which span developed and emerging economies, by
providing the most comprehensive international equity exposure
available in a single trade,� said James Ross, senior managing
director of State Street Global Advisors. �In fact, investors can
cover the entire spectrum of global equity markets by combining CWI
with our SPDR� DJ Wilshire Total Market ETF (AMEX: TMW).� The SPDR�
MSCI ACWI ex-US ETF is the latest in State Street�s series of
international ETF offerings. Recently, State Street launched the
SPDR� DJ Wilshire International Real Estate ETF (AMEX: RWX) on the
American Stock Exchange� (Amex�). RWX is based on the Dow Jones
Wilshire ex-US Real Estate Securities IndexSM and is the first ETF
to monitor performance of publicly traded global real estate
securities outside of the United States. State Street currently
manages more than $113 billion ETF assets worldwide (as of December
31, 2006) and is one of the largest providers in the US and
globally, with a market share of more than 20 percent.(b) State
Street continues to experience significant demand for these
investment strategies and today manages a total of 69 ETFs
worldwide. About State Street Global Advisors 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 $1.7 trillion in assets under management
as of December 31, 2006, State Street Global Advisors has
investment centers in Boston, Hong Kong, London, Milan, Montreal,
Munich, Paris, Singapore, Sydney, Tokyo and Zurich, and offices in
25 cities worldwide. For more information, visit State Street
Global Advisors at www.ssga.com. (a) The Funds are advised by SSgA
Funds Management Inc., a registered investment adviser and a wholly
owned subsidiary of SSgA. (b) Source: SSgA Advisor Consulting
Services as of December 31, 2006 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. Changes in real estate values or economic conditions
can have a significant negative effect on issuers in the real
estate industry, which may affect the fund, all of which may be
magnified in international markets. Funds investing in a single
sector may be subject to more volatility than funds investing in a
diverse group of sectors. 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.
Dow Jones Wilshire exUS RESI is an index designed to provide
measures of non-U.S. real estate securities that serve as proxies
for direct real estate investing. Dow Jones & Company, Inc. is
the owner of the trademarks and copyrights relating to the Dow
Jones Indexes. The Dow Jones Wilshire IndexesSM are calculated and
distributed by Dow Jones Indexes pursuant to an agreement between
Dow Jones & Company, Inc. and Wilshire Associates Incorporated.
Dow Jones and Wilshire are the respective service marks of Dow
Jones and Wilshire Associates and have been licensed for used by
State Street Bank and Trust Company. Inclusion of a company in the
Dow Jones Wilshire Indexes does not in any way reflect an opinion
of Dow Jones or Wilshire on the investment merits of the company
State Street Global Markets, LLC, member NASD, SIPC, is distributor
for all SSgA� Funds and SPDRs products except for SPDR S&P 500,
Dow Diamonds and Select Sector SPDRS which are distributed by ALPS
Distributors, Inc., a registered broker-dealer. The SPDR� MSCI ACWI
ex-US ETF is based on an MSCI Index. This ETF is not sponsored,
endorsed, or promoted by MSCI, and MSCI bears no liability with
respect to any such financial product or any index on which such
financial product is based. The prospectus contains a more detailed
description of the limited relationship MSCI has with State Street.
Before investing, consider the funds� investment objectives, risks,
charges and expenses. A prospectus, which contains this and other
important information about the fund can be obtained by calling
866.787.2257. Read it carefully before investing. 10268-0108
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