STATE STREET GLOBAL ADVISORS LAUNCHES FIRST TRANCHE OF INTERNATIONAL EXCHANGE-TRADED FUNDS |
Two New ETFs Track Performance of Japanese Large and Small Cap Equities |
| New York, November 14, 2006 -
State Street Global Advisors (SSgA)*, the investment management arm of State Street Corporation (NYSE: STT), today launched two international exchange-traded funds (ETFs) on the American Stock Exchange (Amex).
The ETFs include two Japan-focused funds based upon indices created by the Russell Investment Group and Nomura Securities Co., Ltd. The ETFs introduced today include:
- streetTRACKS Russell/Nomura Prime JAPAN ETF (Amex: JPP) - focuses on the broad Japanese stock market and measures the performance of Japan's 1,000 largest stocks. The index offers investors one of the most comprehensive benchmarks available for the Japanese market.
- streetTRACKS Russell/Nomura Small Cap Japan ETF (Amex: JSC) - Tracks the smallest 15% of companies in the Japanese stock market.
"These new ETFs add to our collection of international funds and enable investors to better access the Japanese market, a global economic powerhouse second in size only to the U.S. market," said James Ross, senior managing director of State Street Global Advisors. "This launch is just a first step for SSgA. In the near future, we plan to introduce additional international ETFs that will provide cutting-edge, geography-specific and industry-targeted exposure."
State Street currently has approximately $110 billion in ETF assets under management worldwide (at October 31, 2006) and is one of the largest providers in the U.S. and globally, with a market share of nearly 21 percent.** State Street continues to experience significant demand for these investment strategies and today manages a total of 66 ETFs worldwide.
"Amex and State Street Global Advisors enjoy a long-standing relationship, and the introduction of these ETFs underscores our ability to partner with asset managers to provide unique, cutting-edge investment products," said Cliff Weber, senior vice president of the Amex ETF Marketplace. "These ETFs provide new alternatives for investors seeking to further diversify their investment portfolios."
*The Funds are advised by SSgA Funds Management Inc., a registered investment adviser and a wholly owned subsidiary of SSgA.
**Source: SSgA Advisor Consulting Services as of October 31, 2006
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About State Street Global Advisors
State Street Global Advisors, the investment management arm of State Street Corporation, delivers investment strategies and integrated solutions to clients worldwide across every asset class, investment approach and style. With $1.6 trillion in assets under management as of September 30, 2006, 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.
About American Stock Exchange
The American Stock Exchange® (Amex®) offers trading across a full range of equities, options and exchange traded funds (ETFs), including structured products and HOLDRSSM. In addition to its role as a national equities market, the Amex is the pioneer of the ETF, responsible for bringing the first domestic product to market in 1993. Leading the industry in ETF listings, the Amex lists 207 ETFs to date. The Amex is also one of the largest options exchanges in the U.S., trading options on broad-based and sector indexes as well as domestic and foreign stocks. For more information, please visit www.amex.com
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