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22.10.2007 14:26:00
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SPDR (SM) DJ Wilshire International Real Estate ETF Surpasses $1 Billion Milestone
State Street Global Advisors (SSgA1), the
investment management arm of State Street Corporation (NYSE: STT) and
the largest institutional fund manager in the world2,
today announced that assets in the SPDR SM DJ
Wilshire International Real Estate ETF (AMEX: RWX) have surpassed $1.1
billion. Launched on December 19, 2006, this SPDR was the first ETF to
provide investors with access to real estate securities outside the US.
"Attractive valuations, competitive returns,
and a low correlation to the broader US and international equity markets
are fueling strong investor demand for international real estate,”
said James Ross, senior managing director of State Street. "Having
attracted more than $1 billion in net new inflows this year from a
diverse range of financial advisors, retail investors and institutional
investors, the SPDR DJ Wilshire International Real Estate ETF is one of
the fastest growing ETFs in recent years.”
With an annual expense ratio of .60 percent, the SPDR DJ Wilshire
International Real Estate ETF seeks to track the Dow Jones Wilshire
Ex-US Real Estate Securities Index, a float-adjusted market
capitalization weighted index that defines and measures the investable
universe of publicly traded real estate securities in countries outside
of the US.
"The Dow Jones Wilshire Global Real Estate
Indexes provide measures of the real estate markets that can be used as
proxies for direct real estate investing. The Dow Jones Wilshire Ex-US
Real Estate Securities Index used by State Street Global Advisors is
calculated net of withholding taxes in the represented countries. This
calculation is one way we make our indexes reflective not only of the
markets they track, but also of investors’
experience in those markets,” said Michael A.
Petronella, president of Dow Jones Indexes.
State Street manages more than $134 billion in ETF assets worldwide (as
of September 30, 2007) and is one of the largest providers in the United
States and globally.
About State Street Global Advisors
State Street Global Advisors, the investment management arm of State
Street Corporation (NYSE: STT), delivers investment strategies and
integrated solutions to clients worldwide across every asset class,
investment approach and style. With $2 trillion in assets under
management as of September 30, 2007, State Street Global Advisors has
investment centers in Boston, Hong Kong, London, Milan, Montreal,
Munich, Paris, Singapore, Sydney, Tokyo and Zurich, and offices in 25
cities worldwide. For more information, visit State Street Global
Advisors at www.ssga.com.
1 The Funds are advised by SSgA Funds
Management Inc., a registered investment adviser and a wholly owned
subsidiary of State Street Corporation. For more information visit www.spdretfs.com.
2 Source: Pensions & Investments
magazine, based on assets under management as of December 31, 2006.
ETFs trade like stocks, are subject to investment risk and will
fluctuate in market value.
Foreign investments involve greater risks than US investments, including
political and economic risks and the risk of currency fluctuations.
REIT funds may be subject to a high degree of market risk due to lack of
industry diversification. REIT funds may be subject to other risks
including, but not limited to, changes in real estate values or economic
conditions, credit risk and interest rate fluctuations and changes in
the value of the underlying property owned by the trust and defaults by
borrowers.
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.
Before investing, consider the funds’
investment objectives, risks, charges and expenses. A prospectus which
contains this and other information about the fund can be obtained by
calling 1-800-997-7327, or by visiting www.spdretfs.com. Read it carefully before investing. 10573-1008
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