An Issuer of ETF announced that the ….
SPDR® Barclays Capital Long Term Credit Bond ETF (Symbol: LWC) began trading on the NYSE Arca on March 11, 2009. Its annual expense ratio is 0.15 percent.
Designed to provide investors with diversified, low-cost access to long- term (10+ 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 U.S. 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 10 years. As of December 31, 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 U.S. 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 $800 million in net inflows in just the first two months of 2009.”
State Street Global Advisors has managed fixed income index funds since 1984. As of December 31, 2008, the firm managed $270 billion in fixed income assets globally, and SSgA Funds Management, Inc., the adviser to the SPDR Barclays Long Term Credit Bond ETF, manages more than $4 billion across 15 fixed income SPDR ETFs that provide precise access to core segments of the bond market.
State Street Global Advisors is one of the largest ETF providers in the United States and globally. U.S. assets under management for SPDR ETFs totaled more than $159 billion as of December 31, 2008.
Source: ETFWorld.co.uk – State Street Global Advisors
Subscribe to Our Newsletter
