BOSTON--(BUSINESS WIRE)--State Street Global Advisors (SSGA), the asset management business of State Street Corporation (NYSE:STT), today announced plans to close and liquidate the following three exchange traded funds based on an ongoing review of the SPDR ETF offering and limited market demand:
- SPDR S&P Mortgage Finance ETF (KME);
- SPDR S&P Small Cap Emerging Asia Pacific ETF (GMFS); and
- SPDR Nuveen S&P VRDO Municipal Bond ETF (VRD).
The final day for creations in the liquidating ETFs will be March 18, 2015. Trading of these three funds will be suspended on the NYSE Arca as of the open on March 19 and proceeds of the liquidation are scheduled to be sent to shareholders on or about March 31. 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 Bank and Trust Company. 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 the millions 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 unrivaled 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 $2.45 trillion as of December 31, 2014. This AUM total includes the assets of the SPDR Gold Trust (approx. $27.3 billion as of December 31, 2014), for which State Street Global Markets, LLC, an affiliate of State Street Global Advisors, serves as the marketing agent. Please note that AUM totals are unaudited.
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.
"SPDR" is a product of S&P Dow Jones Indices LLC ("SPDJI"), and has been licensed for use by State Street Corporation. Standard & Poor's? and S&P? 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"); SPDR is a trademark of the SPDJI; and these trademarks have been licensed for use by 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 none of such parties make any representation regarding the advisability of investing in such product(s) nor do they have any liability for any errors, omissions, or interruptions of SPDR.
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.
Before investing, consider the funds' investment objectives, risks, charges and expenses. To obtain a prospectus or summary prospectus which contains this and other information, call 1-866-787-2257, download a prospectus or summary prospectus now, or talk to your financial advisor. Read it carefully before investing.
Not FDIC Insured * No Bank Guarantee * May Lose Value