State Street Global Advisors (SSGA), the asset management business of State Street Corporation (NYSE:STT), plans to close and liquidate five exchange traded funds based on an ongoing review of its SPDR ETF offering and market demand.
The funds to close are: SPDR MSCI International Real Estate Currency Hedged ETF (HREX); SPDR MSCI South Korea StrategicFactorsSM ETF (QKOR); SPDR MSCI Mexico StrategicFactorsSM ETF (QMEX); SPDR MSCI Taiwan StrategicFactorsSM ETF (QTWN); The Financial Services Select Sector SPDR Fund (XLFS).
The final day for creations will be 14 November, 2016 with the exception of HREX, for which the final day for creations will be 11 November, 2016. Trading of all five funds will be suspended on the NYSE Arca at the open of market on 15 November, 2016, and proceeds of the liquidation are scheduled to be sent to shareholders on or about 22 November, 2016.
