State Street Global Advisors (SSGA) announced today that the SPDR® S&P
Biotech ETF (NYSE: XBI), received payment as an authorized claimant from
a class action settlement related to Human Genome Sciences, Inc.
The total amount payable to the Fund is listed below. When the Fund
calculates its net asset value (“NAV”) per share on Tuesday, October 14,
2014, it is estimated that the Fund’s NAV will be impacted by the
receipt of the payment in the amount stated below based on the shares
outstanding as of October 10, 2014.
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Fund
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Settlement Payment
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Shares Outstanding as of
October 10, 2014
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Per Share Amount
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SPDR® S&P Biotech ETF
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$856,233
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7,250,000
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$0.1181
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Source: State Street Bank and Trust Co.
State Street manages more than $413 billion* in SPDR ETF assets
worldwide (as of June 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.
* Assets under management include the assets of the SPDR® Gold ETF
(approximately $33 billion as of June 30, 2014), for which State Street
Global Markets, LLC, an affiliate of SSGA, serves as the distribution
agent.
Note to Editors: SPDR® 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.
Risks associated with equity investing include stock values which may
fluctuate in response to the activities of individual companies and
general market and economic conditions.
The information provided does not constitute investment advice and it
should not be relied on as such. It should not be considered a
solicitation to buy or an offer to sell a security. It does not take
into account any investor's particular investment objectives,
strategies, tax status or investment horizon. You should consult your
tax and financial advisor.
All material has been obtained from sources believed to be reliable.
There is no representation or warranty as to the accuracy of the
information and State Street shall have no liability for decisions based
on such information.
"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 Corporation or its
affiliates is sponsored, endorsed, sold or promoted by S&P or its
Affiliates, and S&P and its affiliates make no representation, warranty
or condition regarding the advisability of buying, selling or holding
units/shares in such products. Further limitations and important
information that could affect investors' rights are described in the
prospectus for the applicable product.
Investing involves risk including the risk of loss of principal.
The whole or any part of this work may not be reproduced, copied or
transmitted or any of its contents disclosed to third parties without
State Street's express written consent.
Non-diversified funds that focus on a relatively small number of
securities tend to be more volatile than diversified funds and the
market as a whole.
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.
Because of their narrow focus, sector funds tend to be more volatile
than funds that diversify across many sectors and companies.
The Fund invests by sampling the Index, holding a range of securities
that, in the aggregate, approximates the full Index in terms of key risk
factors and other characteristics. This may cause the fund to experience
tracking errors relative to performance of the Index.
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.
ALPS Distributors, Inc., a registered broker-dealer, is distributor for
SPDR S&P 500, SPDR S&P MidCap 400 and SPDR Dow Jones Industrial Average,
and all unit investment trusts. ALPS Distributors, Inc. is not
affiliated with State Street Global Markets, LLC.
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.spdr.com.
Read it carefully.
CORP-1117
Expiration date: 10/31/2015
Copyright Business Wire 2014