Total Market ETF Added to the streetTRACKS Family
June 14 2005 - 11:30AM
Business Wire
SSgA Funds Management, Inc. (SSgA), a registered investment adviser
and wholly-owned subsidiary of State Street Corporation (NYSE:
STT), announced that effective yesterday, the FORTUNE 500(R) Index
Fund (AMEX: FFF) was renamed the streetTRACKS(R) Total Market ETF
(TMW). The investment objective is to track as closely as possible,
before expenses, the performance of the Dow Jones Wilshire 5000
Composite Index, the underlying index. The change of the name and
investment objective was approved by shareholders on June 10, 2005.
With this change, investors in the streetTRACKS Total Market ETF
will have expanded exposure to the U.S. equities market in a single
trade. With approximately 5,000 underlying stocks, the Dow Jones
Wilshire 5000 Composite Index represents all listed
U.S.-headquartered equity securities with readily available price
data. "We are very excited about this relationship with Dow Jones
and being the only ETF sponsor to offer a fund tied to the Dow
Jones Wilshire 5000 Composite Index," said Jim Ross, co-head of
SSgA's Advisor Strategies group. "The Dow Jones Wilshire 5000 is
the leading index for total market investing. This ETF will provide
investors with diversified exposure to the entire U.S. equities
market through a single, affordable and continuously traded
investment vehicle." "The Dow Jones Wilshire 5000 index is the most
comprehensive measure of the U.S. equities market. As such, this
ETF is an ideal instrument for both institutional and retail
investors," said Michael A. Petronella, president, Dow Jones
Indexes. "We are confident that State Street Global Advisors and
its distribution partners will make this product a success." Notes
to Editor: streetTRACKS are distributed by State Street Global
Markets, LLC, member NASD, SIPC. SSgA Funds Management, Inc. is the
investment adviser of the FORTUNE 500 Index Fund and a wholly owned
subsidiary of State Street Corporation. SSgA Funds Management, Inc.
and other advisory affiliates of State Street Corporation comprise
State Street Global Advisors ("SSgA"). State Street Global
Advisors, the investment management group of State Street
Corporation, delivers investment strategies and integrated
solutions to clients worldwide across every asset class, investment
approach and style. With $1.4 trillion in investment programs and
portfolios as of March 31, 2005, State Street Global Advisors has
investment centers in Boston, Hong Kong, London, Milan, Montreal,
Munich, Paris, Singapore, Sydney, Tokyo, and Zurich, and offices in
28 cities worldwide. The Dow Jones Wilshire 5000 Composite Index
represents the broadest index for the US equity market, measuring
the performance of all listed U.S.- headquartered securities with
readily available price data. The Dow Jones Wilshire Indexes are
calculated, distributed and marketed by Dow Jones Indexes(R)
pursuant to an agreement with Wilshire Associates Incorporated(R).
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