Docstoc

State Street Global Advisors Introduces High Yield Municipal Bond SPDR® Exchange Traded Fund

Document Sample
State Street Global Advisors Introduces High Yield Municipal Bond SPDR® Exchange Traded Fund Powered By Docstoc
					State Street Global Advisors Introduces High Yield
Municipal Bond SPDR® Exchange Traded Fund
April 14, 2011 10:55 AM Eastern Daylight Time 

BOSTON--(EON: Enhanced Online News)--State Street Global Advisors (SSgA)*, the asset management
business of State Street Corporation (NYSE: STT), today announced that the SPDR Nuveen S&P High Yield
Municipal Bond Exchange Traded Fund (ETF) (Symbol: HYMB) began trading on the NYSE Arca on April 14,
2011. Its annual expense ratio is 0.45 percent.

Developed by State Street Global Advisors and Nuveen Asset Management, a recognized leader in the municipal
bond market, the SPDR Nuveen S&P High Yield Municipal Bond ETF is designed to provide investors with cost
effective access to high yield municipal bonds, an asset class offering attractive after tax yields.

“In combining the advantages of federal tax free income with competitive, risk-adjusted returns, the potential benefits
of high yield municipal bonds are attracting a growing number of sophisticated financial advisors and investors,” said
James Ross, senior managing director and global head of SPDR Exchange Traded Funds at State Street Global
Advisors. “The addition of the SPDR Nuveen S&P High Yield Municipal Bond ETF strengthens our family of
municipal bond ETFs, which now features seven SPDR Nuveen ETFs with more than $2.2** billion in assets.” 

The SPDR Nuveen S&P High Yield Municipal Bond ETF seeks to track the performance of the S&P Municipal
Yield Index. The Index is a market value-weighted index with 70 percent of its market value allocated to high yield
bonds that are non-rated or rated below investment grade, 20 percent to Baa or BBB rated bonds, and 10 percent
to A rated bonds. The Index, which excludes Commercial paper, Derivative securities, Notes, Taxable municipals,
and Variable rate debt, is reviewed and rebalanced monthly.

“The launch of the SPDR Nuveen S&P High Yield Municipal Bond ETF underscores our commitment to working
with State Street to manage innovative new products that blend the benefits of municipal bonds and exchange traded
funds,” said Bill Huffman, Nuveen Asset Management President.

In 2010, State Street Global Advisors entered into an agreement with Nuveen Investments, a leading global provider
of investment services to institutions and high-net-worth investors, under which Nuveen Asset Management became
sub-adviser of SSgA’s municipal bond ETFs.

State Street manages $260*** billion in SPDR ETF assets worldwide (as of March 31, 2011) and is one of the
largest ETF providers in the US and globally.

About SPDR Exchange Traded Funds

SPDR ETFs are a comprehensive family spanning an array of international and domestic asset classes. SPDR ETFs
are managed by SSgA Funds Management, Inc., a registered investment adviser and wholly owned subsidiary of
State Street Bank and Trust Company. The funds provide professional investors with the flexibility to select
investments that are precisely aligned to their investment strategy. Recognized as the industry pioneer, State Street
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 launches
with gold, international real estate, international fixed income and sector ETFs. For more information, visit
www.spdrs.com.
About Nuveen Investments

Nuveen Investments provides high quality investment services designed to help secure the long-term goals of
institutions, high-net-worth and affluent investors as well as the consultants and financial advisors who serve them.
Nuveen Investments markets a wide range of specialized investment solutions which provide investors access to
capabilities of its high-quality boutique investment affiliates—NWQ, Nuveen Asset Management, Santa Barbara,
Symphony, Tradewinds, and Winslow Capital. In total, Nuveen Investments managed $197 billion as of December
31, 2010. For more information, please visit the Nuveen Investments website at www.nuveen.com.

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, one of the
world’s leading providers of financial services to institutional investors.

*SPDR ETFs are managed by SSgA Funds Management, Inc., a registered investment adviser and wholly owned
subsidiary of State Street Bank & Trust Company.

**As of April 8, 2011.

***This AUM includes the assets of the SPDR Gold Trust (approx. $56 billion as of March 31, 2011), for which
State Street Global Markets, LLC, an affiliate of State Street Global Advisors serves as the marketing agent.

Important Risk Information:

ETFs trade like stocks, are subject to investment risk, fluctuate in market value and may trade at prices above or
below the ETFs net asset value. Brokerage commissions and ETF expenses will reduce returns.

Bond funds contain interest rate risk (as interest rates rise bond prices usually fall); the risk of issuer default; and
inflation risk. The municipal market can be affected by adverse tax, legislative or political changes and the financial
condition of the issuers of municipal securities. High-yield municipal bonds are subject to greater credit risk and are
likely to be more sensitive to adverse economic changes or subject to greater risk of loss of income and principal
than higher-rated securities.

The municipal market may be volatile and can be significantly affected by adverse tax, legislative or political changes
and the financial condition of the issuers of municipal securities. Interest rate increases can cause the price of a debt
security to decrease. While income from municipal bonds is generally not subject to federal income tax, a portion of
the dividends paid by an ETF may be subject to federal, state, or local income tax or the federal alternative minimum
tax.

These investments may have difficulty in liquidating an investment position without taking a significant discount from
current market value, which can be a significant problem with certain lightly traded securities.

“SPDR” is a registered trademark of Standard & Poor’s Financial Services, LLC (“S&P”) and has been licensed
for use by State Street Corporation. No financial product offered by State Street or its affiliates is sponsored,
endorsed, sold or promoted by S&P.

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. Certain State Street
affiliates provide services and receive fees from the SPDR ETFs.

Before investing, consider the funds’ investment objectives, risks, charges and expenses. To obtain a
prospectus or summary prospectus which contains this and other information, call 1-866-787-2257 or visit
www.spdrs.com. Read it carefully.

CORP: 0317
Contacts
River Communications
Troy Mayclim, 914-686-5599

				
DOCUMENT INFO
Shared By:
Tags:
Stats:
views:10
posted:4/14/2011
language:English
pages:3
Description: BOSTON--(EON: Enhanced Online News)--State Street Global Advisors (SSgA)*, the asset management business of State Street Corporation (NYSE: STT), today announced that the SPDR Nuveen S&P High Yield Municipal Bond Exchange Traded Fund (ETF) (Symbol: HYMB) began trading on the NYSE Arca on April 14, 2011. Its annual expense ratio is 0.45 percent. Developed by State Street Global Advisors and Nuveen Asset Management, a recognized leader in the municipal bond market, the SPDR Nuveen S&P High a style='f
EON: Enhanced Online News EON: Enhanced Online News http://eon.businesswire.com
About At EON: Enhanced Online News, we show you how to make your online press release thrive. If you want to drive traffic to your website, generate sales leads, make an announcement, or promote a new product, EON: Enhanced Online News delivers the online visibility that you need. EON: Enhanced Online News powered by Business Wire.