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State Street unveils six new emerging market ETFs


State Street Global Advisors, the investment management arm of State Street Corporation, has launched six new emerging markets SPDR exchange-traded funds on the American Stock Exchange to

State Street Global Advisors, the investment management arm of State Street Corporation, has launched six new emerging markets SPDR exchange-traded funds on the American Stock Exchange to complement its existing ETFs covering developed economies.

The flagship ETF of the range, which is based upon the S&P/Citigroup Global Equity Indices, is the SPDR S&P Emerging Markets ETF, based on an index including more than 1,500 companies in 26 emerging countries. The range also includes one-single-country ETF, the SPDR S&P China ETF, whose underlying index includes more than 150 companies domiciled in China.

The other four funds are based on regional indices: the SPDR S&P Emerging Latin America ETF, covering Argentina, Brazil, Chile, Columbia, Mexico, Peru and Venezuela; SPDR S&P Emerging Middle East & Africa ETF, covering Egypt, Israel, Jordan, Morocco, Nigeria and South Africa; SPDR S&P Emerging Europe, covering new EU members, applicants and other countries including the Czech Republic, Hungary, Poland, Russia and Turkey; and the SPDR S&P Emerging Asia Pacific ETF, covering China, India, Indonesia, Malaysia, Pakistan, the Philippines, Taiwan and Thailand.

‘Developed in response to investor demand, our new international SPDRS provide distinct exposure to virtually the entire emerging markets universe and several key regions, including China,’ says James Ross, senior managing director of State Street Global Advisors.

‘The regional SPDRs are designed to provide a level of diversification unavailable in more concentrated country-specific approaches, while the SPDR S&P China ETF covers a much larger range of the Chinese equity market than any of the country’s other benchmarks.’

State Street managed a total of 76 ETFs and more than USD109bn in ETF assets worldwide at the end of February and is one of the largest ETF providers in the US and globally, with a market share of more than 22 percent and 18 percent respectively.

With USD1.7trn in assets under management at the end of last year, State Street Global Advisors has investment centres in Boston, Hong Kong, London, Milan, Montreal, Munich, Paris, Singapore, Sydney, Tokyo and Zurich, and offices in 25 cities worldwide.

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