MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Tuesday, May 18, 2010 The Focus is on SPDR GLD Gold's recent lift off is mostly benefiting just one fund -- and not even a mutual fund at that. The Tuesday WSJ Fund Track focuses on SSgA's SPDR Gold Shares (GLD), the exchange-traded fund grabbing the bulk of gold bugs' money. For SSgA, the article could almost be seen as an endorsement; Reporter John Spence names no SPDR competitors, tells readers of how to buy the fund and serves up a meaty endorsement from Morningstar. World Gold Trust Services is the advisor to the $48 billion in AUM, six-and-a-half-year-old fund. So far in 2010, State Street Global Markets has seen $3 billion in new assets hit the ETF. That strong showing comes despite the ETF registering outflows in both January and February, Tom Anderson, head of ETF strategy and research at State Street Global Advisors told the paper. The report also highlights Morningstar's wave-off of possible concerns about the SPDR Gold's 40 basis point expense ratio: "Thanks to the ETF format, the fund offers direct exposure to the value of gold in a more liquid and convenient package than burying gold in your basement. Instead of buying guard dogs and a security system, you pay 0.4% per year." Printed from: MFWire.com/story.asp?s=32249 Copyright 2010, InvestmentWires, Inc. All Rights Reserved |