State Street Corp.'s (NYSE: STT) State Street Global
Advisors (SSgA), the third-largest U.S. issuer of exchange traded funds, said it will close five of its ETFs next month.
Boston-based SSgA plans to shutter three emerging markets ETFs, a financial services fund and an international real estate
ETF.
The five ETFs slated for closure by SSgA are as follows: The SPDR MSCI International Real Estate Currency Hedged ETF
(NYSE: HREX), SPDR MSCI South Korea StrategicFactors
ETF (NYSE: QKOR), SPDR MSCI Mexico StrategicFactors
ETF (NYSE: QMEX), SPDR MSCI Taiwan StrategicFactor
ETF (NYSE: QTWN) and the Financial Services Select
Sector SPDR (NYSE: XLFS).
“The final day for creations will be November 14, 2016 with the exception of HREX, for which the final day for creations will be
November 11, 2016. Trading of all five funds will be suspended on the NYSE Arca at the open of market on November 15, 2016, and
proceeds of the liquidation are scheduled to be sent to shareholders on or about November 22, 2016,” according to a statement
issued by SSgA.
QKOR is the second South Korea ETF to close this year. Year-to-date, nearly 100 ETFs had shuttered prior to the latest SSgA
announcement. SSgA closed a dozen ETFs earlier this year.
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