Executives at State Street Global Advisors has filed papers with the SEC for exemptive relief for a batch of target-date funds. The offerings will be actively-managed. Other companies who are trying out target-date ETFS include Seligman, XShares Advisors, XTF Advisors and XTF Advisors.
Company Press Release
State Street Global Advisors (SSgA), the investment management arm of State Street Corporation (NYSE: STT) and the largest institutional fund manager in the world¹, today announced it has filed an application with the Securities Exchange Commission for exemptive relief for a series of actively managed, target-date exchange traded funds (ETF).
Investing in a diversified sampling of equity and fixed-income ETFs, the proposed new SPDR® Exchange Traded Funds will seek to deliver risk-adjusted returns through a multi asset class investment strategy.
“Having launched the world’s first ETF fifteen years ago, State Street remains committed to offering cutting-edge products that help advisors and investors build stronger portfolios,” said James Ross, senior managing director of State Street Global Advisors. “Our application for these actively managed ETFs was filed to meet increasing demand among our clients and we’re very pleased to have it filed.”
State Street manages more than $171 billion in ETF assets worldwide (as of December 31, 2007) and is one of the largest providers in the United States and globally.
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 $2.0 trillion in assets under management as of December 31, 2007, 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.
1 Source: Pensions & Investments magazine, based on assets under management as of December 31, 2006.
ETFs trade like stocks, are subject to investment risk and will fluctuate in market value.
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.
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
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.spdretfs.com. Read it carefully.
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