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SPDR Index Shares Funds announces two planned ETFs on MSCI indexes
By Toni Weeks
San Diego, Dec. 7 - SPDR Index Shares Funds announced plans for two new exchange-traded funds in an N-1A filing with the Securities and Exchange Commission.
The SPDR MSCI EM 50 ETF will invest in companies in emerging markets countries, while the SPDR MSCI ACWI IMI ETF will invest in companies in both developed and emerging markets.
The SPDR MSCI EM 50 ETF seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of the MSCI EM 50 Index, which tracks securities of publicly traded companies in emerging markets. The index is a free-float-adjusted market-capitalization-weighted index consisting of 50 of the largest constituents held in the MSCI Emerging Markets Index.
The SPDR MSCI ACWI IMI ETF seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of the MSCI ACWI IMI Index, which tracks securities of publicly traded companies in developed and emerging markets. The index is a free-float-adjusted market-capitalization-weighted index designed to measure the combined equity market performance of developed and emerging markets. The index covers about 98% of the global equity investment opportunity set.
Under normal market conditions, each ETF will invest at least 80% and generally substantially all of its total assets in the securities comprising its respective index or in American Depositary Receipts or Global Depositary Receipts based on securities comprising the index. The funds' investment adviser, Boston-based SSgA Funds Management, Inc., intends to employ a sampling strategy to select both funds' portfolios, using quantitative analysis to select securities in or outside of the index that have a similar investment profile as each fund's respective index.
The portfolio managers for both ETFs are Mike Feehily and John Tucker.
Fees have not yet been determined.
Both ETFs intend to list shares on the NYSE Arca.
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