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SPDR DJ Wilshire International Real Estate ETF passes USD1bn

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State Street Global Advisors, the investment management arm of State Street Corp and the largest institutional fund manager in the world, has reported that assets in the SPDR DJ Wilshire I

State Street Global Advisors, the investment management arm of State Street Corp and the largest institutional fund manager in the world, has reported that assets in the SPDR DJ Wilshire International Real Estate ETF, which was launched last December and offers access to real estate securities outside the US, have passed USD1.1bn.

‘Attractive valuations, competitive returns and a low correlation to the broader US and international equity markets are fuelling strong investor demand for international real estate,’ says State Street senior managing director James Ross.

‘Having attracted more than USD1bn in net new inflows this year from a diverse range of financial advisers, retail investors and institutional investors, the SPDR DJ Wilshire International Real Estate ETF is one of the fastest growing ETFs in recent years.’

The fund, which has an annual expense ratio of 0.6 per cent, seeks to track the Dow Jones Wilshire Ex-US Real Estate Securities Index, a float-adjusted market capitalisation-weighted index that measures publicly-traded real estate securities in countries outside the US.

‘The Dow Jones Wilshire Global Real Estate Indices provide measures of the real estate markets that can be used as proxies for direct real estate investing,’ says Michael Petronella, president of Dow Jones Indexes.

‘The Dow Jones Wilshire Ex-US Real Estate Securities Index used by State Street Global Advisors is calculated net of withholding tax in the represented countries. This calculation is one way we make our indices reflective, not only of the markets they track, but also of investors’ experience in those markets.’

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