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SSGA makes changes to SPDR DB International Government Inflation-Protected Bond ETF

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State Street Global Advisors (SSGA) is changing the name and index of the SPDR DB International Government Inflation-Protected Bond ETF. Effective 12 February, 2016, the fund was renamed the SPDR Citi International Government Inflation-Protected Bond ETF and began tracking the Citi International Inflation-Linked Securities Select Index.

The fund’s ticker symbol (WIP) and annual gross expense ratio (0.50 percent) remain unchanged and no action is required by shareholders.
 
“We continually review our offering to identify new or improved ways to access the market in order to provide the best solutions to our clients,” says James Ross, executive vice president and global head of SPDR Exchange Traded Funds at State Street Global Advisors. “We are excited to continue to offer investors efficient access to inflation-linked bonds outside of the US with this index from Citi.”
 
The Citi International Inflation-Linked Securities Select Index measures the returns of inflation-linked bonds outside the United States with fixed-rate coupon payments that are linked to an inflation index. The index comprises government inflation-linked debt from 15 countries denominated in 13 currencies. The weights of each individual country in the index are capped at 22.5 per cent. Furthermore, the total market weights of the countries with more than 4.6 per cent market weight in the index cannot exceed 45 percent of the total index weight. After the country weights are determined, constituents within each country are assigned weights in proportion to their market capitalisation.
 
This change was brought about by Deutsche Bank’s decision to transition out of index calculation and administration services. The investment characteristics of WIP’s new index are quite similar to the legacy index, with minor changes to country and currency exposure.
 

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