Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:SSgA Slashes Fees on Select Sector SPDRs Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, February 11, 2009

SSgA Slashes Fees on Select Sector SPDRs

by: Armie Margaret Lee

State Street Global Advisors has cut the average expense ratio for nine Select Sector ETFs from 23 bps to 21 bps. The change took effect January 31.

"When we launched these funds more than 10 years ago, our expense ratio was 0.65%. Our Board and the Management of the Select Sector SPDR Trust made a commitment to move expenses lower as assets grew," said Dan Dolan, director of wealth management strategies at Select Sector SPDR Trust.

The funds have total assets of nearly $20 billion.


NEW YORK--(BUSINESS WIRE)--Select Sector SPDRs, a family of exchange-traded funds (ETFs) that divide the S&P 500 into nine individual sector funds, has lowered the average expense ratio for its nine sector ETFs from 0.23% to 0.21%. The new expense ratio went into effect on January 31, 2009.

“When we launched these funds more than 10 years ago, our expense ratio was 0.65%. Our Board and the Management of the Select Sector SPDR Trust made a commitment to move expenses lower as assets grew,” said Dan Dolan, Director of Wealth Management Strategies, Select Sector SPDR Trust. “The lowering of our expense ratio by another 8.7% is made in the spirit of that commitment, and to maintaining our 'investor first' approach, making our sector ETFs accessible and affordable to as many investors as possible."

Launched in 1998 and with more than $19.8 billion in assets as of February 6, 2009, Select Sector SPDRs is the oldest brand name in sector exchange-traded funds. These very liquid ETFs traded on average 260 million shares per day in 2008.

About Select Sector SPDRs

Select Sector SPDRs are ETFs (Exchange Traded Funds) that divide the S&P 500 into nine sector index funds: Consumer Discretionary, Consumer Staples, Energy, Financials, Health Care, Industrials, Materials, Technology and Utilities. Select Sector SPDRs allow investors to customize their portfolios by picking and weighting the sectors to meet specific investment goals. Select Sector SPDR shares are actively traded on NYSE Arca throughout the trading day. SSgA Funds Management, Inc. serves as the Adviser to the Trust and, subject to the supervision of the Board of Trustees, is responsible for the investment management of the Select Sector SPDR Funds. For more information see http://sectorspdrs.com. ALPS Distributors Inc., a registered broker-dealer, is the distributor for the Select Sector SPDR Trust.
 

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2019
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use