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State Street Global Advisors unveils long-term credit ETF

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State Street Global Advisors, the investment management arm of State Street Corporation, has announced the launch of trading of the SPDR Barclays Capital Long Term Credit Bond ETF on NY

State Street Global Advisors, the investment management arm of State Street Corporation, has announced the launch of trading of the SPDR Barclays Capital Long Term Credit Bond ETF on NYSE Arca.

Its annual expense ratio is 0.15 per cent.

Designed to provide investors with diversified, low-cost access to long-term (ten+ years) investment grade bonds, the SPDR Barclays Capital Long Term Credit Bond ETF seeks to track the price and yield performance of the Barclays Capital US Long 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 ten years. As of 31 December 2008, the index included 965 issues with an average dollar-weighted maturity of 24.39 years.

"Demand for access to high quality, long term credit bonds is on the rise as investors search for alternatives to US Treasuries that will improve the yield on their fixed income portfolios," says Anthony Rochte, senior managing director at State Street Global Advisors.

"The SPDR Barclays Capital Long Term Credit Bond ETF is the longest-maturity credit bond ETF available to investors and a key addition to our growing family of fixed income SPDRs, which have attracted more than USD800m in net inflows in just the first two months of 2009."

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