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® 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
Contacts:
Marie McGehee, 617-664-1898
or
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Communications
Troy Mayclim, 914-686-5599
