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SSgA launches Ultra Short Term Bond ETF

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State Street Global Advisors (SSgA) has launched the SPDR SSgA Ultra Short Term Bond ETF (ULST), providing investors with access to a diversified portfolio of ultra short term bonds.

“The SPDR SSgA Ultra Short Term Bond ETF is an attractive option for the cash investor who is seeking incremental yield but does not want to sacrifice liquidity,” says James Ross, senior managing director and global head of SPDR ETFs at SSgA. “We are seeing tremendous flows year to date in short and ultra short term bonds, as investors are increasingly anticipating rising interest rates.”

“As one of the world’s leading cash and high quality fixed income managers, our team has significant experience and a proven, disciplined approach to credit research,” says Steve Meier, SSgA’s chief investment officer of fixed income, cash and currency. “This gives us the latitude to exploit inefficiencies in the fixed income market allowing for opportunistic portfolio positioning.”

The SPDR SSgA Ultra Short Term Bond ETF seeks to provide income, preservation of capital and daily liquidity by primarily investing in US dollar-denominated investment grade bonds that are rated a minimum of A- or A3 and have an effective duration between three and nine months. Portfolio holdings will include a range of fixed and floating securities, including corporate obligations, government bonds, agency securities and ETFs. The SPDR SSgA Ultra Short Term Bond ETF’s expense ratio is 0.20 per cent.

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