Company News »

SPDR(R) ETF Family Announces Adjustments to Net Asset Value

Business Wire
Share on StockTwits
Published on

The SPDR(R) S&P Semiconductor ETF (NYSE: XSD – News) and SPDR(R) S&P Bank ETF (NYSE: KBE – News), announced today that each Fund’s net asset value will be adjusted to reflect the receipt of payments related to certain class action settlements.

The total payment to be received by each Fund is listed below. When the Funds calculate their net asset value (“NAV”) per share on Wednesday, January 7, 2015, it is estimated that the Fund’s NAV will be impacted in the amounts stated below based on shares outstanding as of January 5, 2015.

Fund Payment Amount

Shares Outstanding as
of January 5, 2015

Per Share Adjustment
SPDR(R) S&P Semiconductor ETF $231,611 2,300,000 $0.1007
SPDR(R) S&P Bank ETF $352,449 79,152,118 $0.0045

State Street manages more than $413 billion in SPDR ETF assets worldwide (as of September 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.

Note to Editors: SPDR(R) 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.

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.The “SPDR” trademark is used under license from The McGraw-Hill Companies, Inc. (“McGraw-Hill”). No financial product offered by State Street Corporation or its affiliates is sponsored, endorsed, sold or promoted by McGraw-Hill. S&P(R) is a trademark of McGraw-Hill and has been licensed for use by State Street Bank and Trust Company.

Distributor: State Street Global Markets, LLC, member FINRA, SIPC, a wholly owned subsidiary of State Street Corporation. ALPS Portfolio Solutions Distributors, Inc., a registered broker-dealer, is distributor for Select Sector SPDRs and ALPS Distributors, Inc. is distributor for SPDR S&P 500, MidCap SPDRs and SPDR DJIA, all unit investment trusts. 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.

ETFs trade like stocks, are subject to investment risk and will fluctuate in market value.

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.spdrs.com. Read it carefully.

CORP-1249

Share on StockTwits