BOSTON--(BUSINESS WIRE)--June 14, 2005--SSgA Funds Management,
Inc. (SSgA), a registered investment adviser and wholly-owned
subsidiary of State Street Corporation (NYSE: STT), announced that
effective yesterday, the FORTUNE 500(R) Index Fund (AMEX: FFF) was
renamed the streetTRACKS(R) Total Market ETF (TMW). The investment
objective is to track as closely as possible, before expenses, the
performance of the Dow Jones Wilshire 5000 Composite Index, the
underlying index. The change of the name and investment objective was
approved by shareholders on June 10, 2005.
With this change, investors in the streetTRACKS Total Market ETF
will have expanded exposure to the U.S. equities market in a single
trade. With approximately 5,000 underlying stocks, the Dow Jones
Wilshire 5000 Composite Index represents all listed U.S.-headquartered
equity securities with readily available price data.
"We are very excited about this relationship with Dow Jones and
being the only ETF sponsor to offer a fund tied to the Dow Jones
Wilshire 5000 Composite Index," said Jim Ross, co-head of SSgA's
Advisor Strategies group. "The Dow Jones Wilshire 5000 is the leading
index for total market investing. This ETF will provide investors with
diversified exposure to the entire U.S. equities market through a
single, affordable and continuously traded investment vehicle."
"The Dow Jones Wilshire 5000 index is the most comprehensive
measure of the U.S. equities market. As such, this ETF is an ideal
instrument for both institutional and retail investors," said Michael
A. Petronella, president, Dow Jones Indexes. "We are confident that
State Street Global Advisors and its distribution partners will make
this product a success."
Notes to Editor:
streetTRACKS are distributed by State Street Global Markets, LLC,
member NASD, SIPC.
SSgA Funds Management, Inc. is the investment adviser of the
FORTUNE 500 Index Fund and a wholly owned subsidiary of State Street
Corporation. SSgA Funds Management, Inc. and other advisory affiliates
of State Street Corporation comprise State Street Global Advisors
("SSgA").
State Street Global Advisors, the investment management group of
State Street Corporation, delivers investment strategies and
integrated solutions to clients worldwide across every asset class,
investment approach and style. With $1.4 trillion in investment
programs and portfolios as of March 31, 2005, State Street Global
Advisors has investment centers in Boston, Hong Kong, London, Milan,
Montreal, Munich, Paris, Singapore, Sydney, Tokyo, and Zurich, and
offices in 28 cities worldwide.
The Dow Jones Wilshire 5000 Composite Index represents the
broadest index for the US equity market, measuring the performance of
all listed U.S.- headquartered securities with readily available price
data. The Dow Jones Wilshire Indexes are calculated, distributed and
marketed by Dow Jones Indexes(R) pursuant to an agreement with
Wilshire Associates Incorporated(R).
CONTACT: State Street CorporationArlene Roberts, 617-664-3933
SOURCE: State Street Corporation