BOSTON--(BUSINESS WIRE)--The Financial Select Sector SPDR® Fund (NYSE: XLF- News), announced today that the Fund received payment as an authorized claimant from a class action settlement related to Citigroup, Inc.
The total amount payable to the Fund is listed below. When the Fund calculates its net asset value (“NAV”) per share on Friday, August 8, 2014, it is estimated that the Fund’s NAV will be impacted by the receipt of the payment in the amount stated below based on the shares outstanding as of August 6, 2014.
|Per Share Amount|
|The Financial Select Sector SPDR® Fund||$3,993,375||769,145,427||$0.0052|
Source: State Street Bank and Trust Co.
State Street manages more than $413 billion* in SPDR ETF assets worldwide (as of June 30, 2014) and is one of the largest ETF providers in the US and globally.
About State Street Global Advisors
State Street Global Advisors (SSgA) is a global leader in asset management. The firm is relied on by sophisticated investors worldwide for its disciplined investment process, powerful global investment platform and access to every major asset class, capitalization range and style. SSgA is the asset management business of State Street Corporation, one of the world’s leading providers of financial services to institutional investors.
* Assets under management include the assets of the SPDR® Gold ETF (approximately $33 billion as of June 30, 2014), for which State Street Global Markets, LLC, an affiliate of SSgA, serves as the distribution agent.
Note to Editors: SPDR® Exchange Traded Funds
SPDR ETFs are a comprehensive family spanning an array of international and domestic asset classes. SPDR ETFs provide professional investors with the flexibility to select investments that are precisely aligned to their investment strategy. Recognized as the industry pioneer, State Street—in partnership with the American Stock Exchange—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 successes with gold, international real estate, international fixed income and sector ETFs. SPDR ETFs are managed or marketed by SSgA or SSgA Funds Management, Inc, a registered investment adviser and wholly owned subsidiary of State Street Bank and Trust Company.
Select Sector SPDR Funds bear a higher level of risk than more broadly diversified funds. All ETFs are subject to risk, including the possible loss of principal. Sector ETFs products are also subject to sector risk and non-diversification risk, which generally results in greater price fluctuations than the overall market
Risk associated with equity investing include stock values which may fluctuate in response to the activities of individual companies and general market and economic conditions.
Non-diversified funds that focus on a relatively small number of securities tend to be more volatile than diversified funds and the market as a whole.
Because of their narrow focus, sector funds tend to be more volatile than funds that diversify across many sectors and companies. Frequent trading of ETFs could significantly increase commissions and other costs such that they may offset any savings from low fees or costs. SPDR is a registered trademark of Standard & Poor’s Financial Services LLC ("S&P") and has been licensed for use by State Street Corporation. No financial product offered by State Street Corporation or its affiliates is sponsored, endorsed, sold or promoted by S&P or its Affiliates, and S&P and its affiliates make no representation, warranty or condition regarding the advisability of buying, selling or holding units/shares in such products. Further limitations and important information that could affect investors' rights are described in the prospectus for the applicable product.
Distributor: ALPS Distributors, Inc., a registered broker-dealer, is distributor for SPDR S&P 500, SPDR S&P MidCap 400 and SPDR Dow Jones Industrial Average, and all unit investment trusts. ALPS Portfolio Solutions Distributor, Inc., a registered broker-dealer, is distributor for Select Sector SPDRs. ALPS Distributors, Inc. and ALPS Portfolio Solutions Distributor, Inc. are not affiliated with State Street Global Markets, LLC.
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.
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.spdr.com. Read it carefully.
SEL001542 Exp 12/31/14
CORP-1071 Expiration date: 08/31/2015