State Street Global Advisors (SSGA), the asset management business of State Street Corporation (NYSE:STT), today announced plans to close and liquidate the following 12 exchange traded funds based on an ongoing review of the SPDR ETF offering and limited market demand:
- SPDR MSCI EM Beyond BRIC ETF (EMBB)†
- SPDR BofA Merrill Lynch EM Corp. Bond ETF (EMCD)†
- SPDR Barclays International High Yield Bond ETF (IJNK)†
- SPDR MSCI EM 50 ETF (EMFT)
- SPDR Russell/Nomura PRIME Japan ETF (JPP)
- SPDR Russell/Nomura Small Cap Japan ETF (JSC)
- SPDR S&P International Mid Cap ETF (MDD)
- SPDR S&P BRIC 40 ETF (BIK)
- SPDR SSGA Risk Aware ETF (RORO)
- SPDR Nuveen Barclays Build America Bond ETF (BABS)
- SPDR Nuveen Barclays California Muni Bond ETF (CXA)
- SPDR Nuveen Barclays New York Muni Bond ETF (INY)
The final day for creations will be August 24, 2016 with the exception of three funds identified with the symbol †, for which the final day for creations will be August 23, 2016. Trading of all twelve funds will be suspended on the NYSE Arca at the open of market on August 25, 2016, and proceeds of the liquidation are scheduled to be sent to shareholders on or about August 31, 2016. For additional information on the liquidation, shareholders of the funds can visit www.spdrs.com.
About SPDR Exchange Traded Funds
SPDR ETFs are a comprehensive family spanning an array of international and domestic asset classes. SPDR ETFs are managed by SSGA Funds Management, Inc., a registered investment adviser and wholly owned subsidiary of State Street Corporation. The funds provide investors with the flexibility to select investments that are precisely aligned to their investment strategy. Recognized as an industry pioneer, State Street created the first US listed ETF in 1993 (SPDR S&P 500® – Ticker SPY) and has remained on the forefront of responsible innovation, as evidenced by the introduction of many ground-breaking products, including first-to-market launches with gold, international real estate, international fixed income, and sector ETFs. For more information, visit www.spdrs.com.
About State Street Global Advisors
For nearly four decades, State Street Global Advisors has been committed to helping our clients, and those who rely on them, achieve financial security. We partner with many of the world’s largest, most sophisticated investors and financial intermediaries to help them reach their goals through a rigorous, research-driven investment process spanning both indexing and active disciplines. With trillions* in assets, our scale and global reach offer clients access to markets, geographies and asset classes, and allow us to deliver thoughtful insights and innovative solutions.
State Street Global Advisors is the investment management arm of State Street Corporation.
*Assets under management were $2.3 trillion as of June 30, 2016. AUM reflects approx. $40 billion (as of 6/30/2016) with respect to which State Street Global Markets, LLC (SSGM) serves as marketing agent; SSGM and State Street Global Advisors are affiliated.
IMPORTANT RISK INFORMATION:
Investing involves risk including the risk of loss of principal.
Information represented in this piece does not constitute legal, tax, or investment advice. Investors should consult their legal, tax, and financial advisors before making any financial decisions.
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.
Standard & Poor’s, S&P and SPDR are registered trademarks of Standard & Poor’s Financial Services LLC (S&P); Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC (Dow Jones); and these trademarks have been licensed for use by S&P Dow Jones Indices LLC (SPDJI) and sublicensed for certain purposes by State Street Corporation. State Street Corporation’s financial products are not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, their respective affiliates and third party licensors and none of such parties make any representation regarding the advisability of investing in such product(s) nor do they have any liability in relation thereto, including for any errors, omissions, or interruptions of any index.
© 2016 State Street Corporation - All Rights Reserved
State Street Corporation, One Lincoln Street, Boston, MA 02111-2900
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Contacts:
Andrew Hopkins, +1 617-664-2422
Ahopkins2@StateStreet.com
