MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Friday, September 29, 2000 SSgA Makes Tracks Barclays is not the only indexer jumping on the exchange-traded fund (ETF) bandwagon. Today rival State Street Global Advisors (SSgA) is taking the wraps off seven ETFs. The new group of products is dubbed streetTRACKS and like the Barclays iShares will trade on the American Stock Exchange. SSgA already boasts of 13 exchange-traded funds with $35 billion invested. The seven new ETFs are all index offering and include: streetTRACKS Dow Jones Global Titans Index Fund, streetTRACKS Dow Jones U.S. Large Cap Growth Index Fund, streetTRACKS Dow Jones U.S. Large Cap Value Index Fund, streetTRACKS Dow Jones U.S. Small Cap Growth Index Fund, streetTRACKS Dow Jones U.S. Small Cap Value Index Fund, streetTRACKS Morgan Stanley High-Tech 35 Index Fund, streetTRACKS Morgan Stanley Internet Index Fund. The administrator and custodian of the streetTRACKS funds is State Street Bank and Trust Company. The investment adviser is State Street Global Advisors. The distributor for the streetTRACKS funds is State Street Capital Markets, LLC, a registered broker-dealer. Counsel to the funds is Mayer, Brown & Platt. Bear Hunter and Wolverine Trading are the two specialist firms for these funds. Meanwhile, AIM announced that it is closing the Large Cap Opportunities Fund this week. The Houston-based fund company said that it will close the fund at the lose of market today. Net assets in the fund as of Wednesday were approximately $702 million. The fund was opened to investors on March 31, 200 and is one of three long/short funds managed by AIM. The two other funds are both already closed. Printed from: MFWire.com/story.asp?s=26160 Copyright 2000, InvestmentWires, Inc. All Rights Reserved |