Bringing you live news and features since 2006 

State Street Global Advisors launches Intermediate Term Credit ETF

RELATED TOPICS​

State Street Global Advisors, the investment management arm of State Street Corporation, has announced the launch of trading of the SPDR Barclays Capital Intermediate Term Credit exchan

State Street Global Advisors, the investment management arm of State Street Corporation, has announced the launch of trading of the SPDR Barclays Capital Intermediate Term Credit exchange traded fund on NYSE Arca.

Its annual expense ratio is 0.15 per cent.

Designed to provide precise, low-cost access to investment grade credit bonds, the ETF seeks to track the price and yield performance of the Barclays Capital Intermediate Credit Index.

The index includes investment grade corporate and non-corporate credit bonds that are dollar denominated and have a remaining maturity of greater than or equal to one year and less than ten years. As of 31 December 2008, the index included 2,512 issues with an average credit rating of A and dollar-weighted maturity of 5.20 years.

‘Developed in response to increasing demand from investors seeking access to intermediate credit securities, a segment of the fixed-income market that has historically offered higher yields than US Treasuries, the SPDR Barclays Capital Intermediate Term Credit Bond ETF is a key addition to our growing family of fixed income SPDR ETFs,’ says James Ross, a senior managing director at State Street Global Advisors.

‘With current yield spreads edging wider than they have been in more than 15 years, investment-grade corporate bonds are an attractive asset classes for investors seeking to further diversify their fixed income holdings or hedge against future interest-rate hikes.’

State Street Global Advisors has managed fixed-income index funds since 1984. As of 31 December 2008, the firm manages USD270bn in fixed income assets globally, and SSgA Funds Management, the adviser to the SPDR Barclays Intermediate Term Credit Bond ETF, manages more than USD4bn across 13 fixed income SPDR ETFs that provide access to core segments of the bond market.

Latest News

Irish domiciled funds surpassed EUR4.3 trillion AuM (Assets under Management) at end-March 2024, a 15 per cent increase in net..
European white label ETF platform, HANetf, has announced its total assets under management (AUM) has now exceeded USD4.31 billion...
New research from European ETF provider Tabula Investment Management shows investors are expecting improvements in ESG from the gold mining..
As the ETF industry reaches a milestone of USD12.71 trillion in global assets, Brown Brothers Harriman writes that its 2024..

Related Articles

Dan Miller, IQ-EQ
With just over a week to go till T+1 settlement begins in North America, Canada and Mexico, time is of...
Emily Spurling, Nasdaq
Last October’s ETF Express US Awards 2023 found Nasdaq winning Best Index Provider – ESG ETFs and Best Index Provider...
Vinit Srivistava, MerQube
Index provider, MerQube, launched in 2019, with the aim of providing a “technology-driven answer to the most complex, rules-based investment...
Sean O' Hara
Pacer ETFs has announced the launch of three Cash Cows UCITS ETFs. The firm writes that this will give European...
Subscribe to the ETF Express newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by