“As a leading manager of industry and sector ETFs, we are constantly reviewing the SPDR ETF offering to improve access to a wide range of asset classes,” said James Ross, senior managing director and global head of SPDR Exchange Traded Funds at State Street Global Advisors. “In addition to unifying our industry SPDR ETFs around a single index provider, the new S&P indices offer investors greater diversification and a rules-based methodology that enhances transparency.”
The S&P Select Industry Indices are designed to measure the performance of various Global Industry Classification Standard (GICS ®) sub-industries, the most detailed level of industry definition. Constituent stocks are members of the S&P Total Market Index, which includes all common equities listed on the NYSE and the NASDAQ US exchanges. Each index in the series comprises a minimum of 35 liquid securities, providing an investable portfolio representing a concentrated industry.
State Street manages more than $245** billion in SPDR ETF assets worldwide (as of September 30, 2011) and is one of the largest ETF providers in the US and globally.
About SPDR Exchange Traded FundsSPDR 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 Bank and Trust Company. The funds provide professional investors with the flexibility to select investments that are precisely aligned to their investment strategy. Recognized as the industry pioneer, State Street created the first ETF in 1993 (SPDR S&P 500 ® – Ticker SPY). Since then, we’ve sustained our place as an industry innovator through 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