State Street Global Advisors Announces Changes to the SPDR Lineup08.26.2016 By John D'Antona Editor, Traders Magazine
State Street Global -BOSTON, August 26, 2016 — State Street Global Advisors (SSGA), the asset management business of State Street Corporation (NYSE: STT), today announced changes to the name and index for its SPDR Russell Small Cap Completeness® ETF (RSCO) (the “Fund”). Effective August 31, 2016, the Fund will be renamed the SPDR S&P® 1000 ETF (SMD) and begin tracking the S&P 1000 Index. The Fund’s annual gross expense ratio (0.10 percent) remains unchanged and no action is required by shareholders to effect these changes.
“We continually review our ETF offerings to identify new or improved ways to access the market in order to provide the best solutions to our clients,” said Nick Good, co-head of the Global SPDR business at State Street Global Advisors. “We are excited to offer exposure to domestic small and mid-caps that fits well with our other existing ETFs that track S&P indices in order to provide broader coverage of the US market including large caps, mid caps, small caps, sectors and industries.”
The S&P 1000® Index (the “Index”) combines the S&P MidCap 400® and the S&P SmallCap 600® to form a benchmark for the mid- to small-cap segment of the US equity market. The Index generally comprises companies with unadjusted company market capitalization of $400 million to $5.9 billion at the time of inclusion in the Index that satisfy the Index eligibility criteria.
In addition, State Street Global Advisors has announced a name change to SPYX from SPDR S&P® 500 Fossil Fuel Free ETF to SPDR S&P Fossil Fuel Reserves Free ETF; and a change in expense ratio (gross & net) to TWOK (SPDR Russell 2000® ETF) from 0.12 percent to 0.10 percent as of August 31, 2016.
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