One of the Largest ETFs in the World with more than $40 Billion in
Assets
BOSTON--(BUSINESS WIRE)--
World Gold Trust Services, LLC, a wholly-owned subsidiary of the World
Gold Council (WGC) and State Street Global Advisors (SSgA), the
investment management arm of State Street Corporation (NYSE: STT), today
marked the fifth anniversary of SPDR(R) Gold Shares (NYSE Arca: GLD). With
assets under management in the trust with more than $40 billion (as of
November 16, 2009) SPDR(R) Gold Shares has become one of the
largest exchange traded funds in existence and is the fastest growing
ETF, by assets, in the world.
"SPDR(R) Gold Shares is considered one of the industry's most
innovative and influential ETFs, having made gold's unique investment
properties accessible for a broader investor base," said James Ross,
senior managing director at State Street Global Advisors. "The
commodities market is vastly different today than it was five years ago
due in part to the creation of SPDR(R) Gold Shares. As the
first ETF to be backed by a physical asset, it has been a trailblazer
for exchange traded commodities overall. Following the unprecedented
success of GLD in 2004, 21 commodity ETFs have entered the market, which
underscores the growing popularity of these products."
"GLD has removed the barriers that previously prevented some investors
from making an investment in gold. By increasing investor understanding
of the role gold plays within the portfolio, GLD has enabled us to
change the way the world looks at gold as an asset class," said Jason
Toussaint, managing director, Exchange Traded Gold, World Gold Council.
"Most recently, the global financial crisis has placed gold attributes
as a preserver of wealth center stage, but over the course of the last
five years, GLD made gold relevant and accessible to an even broader
range of investors, irrespective of the prevailing economic cycle.
Investors around the world continue to use GLD to help diversify their
portfolio, and potentially protect their assets from the ravages of long
term inflation and as a hedge against dollar fluctuations."
The five year anniversary was commemorated by representatives from both
State Street Global Advisors and the World Gold Council ringing the
opening bell at the New York Stock Exchange.
SPDR(R) Gold Shares Key Facts:
-- Launched in November 2004, GLD was the first US traded gold ETF and the
first commodity ETF.
-- GLD was the first ETF to be backed by a physical asset.
-- GLD was one of the fastest growing ETFs in history, reaching over $1
billion in assets in just three trading days.
-- GLD has more assets than the next 5 ETFs launched in this timeframe
combined.
-- 2009 YTD (as of Oct. 30/09) net asset value in the trust has increased
by $15.97 billion.
-- GLD is listed on the NYSE Arca, the Bolsa Mexicana de Valores and the
Singapore, Tokyo and Hong Kong Stock Exchanges.
About the World Gold Council
The World Gold Council's mission is to stimulate and sustain the demand
for gold and to create enduring value for its stakeholders. It is funded
by the world's leading gold mining companies. For further information
visit www.gold.org.
About State Street Global Advisors
State Street Global Advisors, the investment management arm of State
Street Corporation (NYSE: STT), delivers investment strategies and
integrated solutions to clients worldwide across every asset class,
investment approach and style. With $1.7 trillion in assets under
management at September 30, 2009, State Street Global Advisors has
investment centers in Boston, Hong Kong, London, Montreal, Paris,
Singapore, Sydney, Tokyo, Toronto and Zurich, and offices in 26 cities
worldwide. For more information, visit State Street Global Advisors at www.ssga.com.
The value of the SPDR Gold shares relates directly to the value of the
gold held by the Trust (less Trust expenses) and fluctuations in the
price of gold could materially adversely affect an investment in the
Shares.
Investors should be aware that the historical performance of gold as an
asset class is not necessarily indicative of its future performance, and
there is no assurance that gold will maintain its long-term value in
terms of purchasing power in the future, that gold will be an effective
hedge against inflation or dollar depreciations, that the price of gold
will be less volatile than the prices of other asset classes, or that
gold will be an effective tool for diversifying investment portfolios.
In the event that the price of gold declines, the Sponsor expects the
value of an investment in the Shares to decline proportionately.
Shareholders in the SPDR Gold Trust will not have the protections
associated with ownership of shares in an investment company registered
under the Investment Company Act of 1940 or the protections afforded by
the Commodity Exchange Act of 1936. The Trust is not registered as an
investment company under the Investment Company Act of 1940 and is not
required to register under such act. Neither the Sponsor nor the Trustee
is subject to regulation by the CFTC. Shareholders will not have the
regulatory protections provided to investors in CEA-regulated
instruments or commodity pools.
The "SPDR(R)" trademark is used under license from The
McGraw-Hill Companies, Inc. No financial product offered by World Gold
Trust Services, LLC, or its affiliates is sponsored, endorsed, sold or
promoted by The McGraw-Hill Companies, Inc. ("McGraw-Hill"). McGraw-Hill
makes no representation or warranty, express or implied, to the owners
of any financial product or any member of the public regarding the
advisability of investing in securities generally or in financial
products particularly or the ability of the index on which financial
products are based to track general stock market performance.
McGraw-Hill is not responsible for and has not participated in any
determination or calculation made with respect to issuance or redemption
of financial products. McGraw-Hill has no obligation or liability in
connection with the administration, marketing or trading of financial
products.
WITHOUT LIMITING ANY OF THE FOREGOING, IN NO EVENT SHALL McGRAW-HILL
HAVE ANY LIABILITY FOR ANY SPECIAL, PUNITIVE, INDIRECT, OR CONSEQUENTIAL
DAMAGES (INCLUDING, BUT NOT LIMITED TO, LOST PROFITS), EVEN IF NOTIFIED
OF THE POSSIBILITY OF SUCH DAMAGES.
SPDR(R) GOLD TRUST has filed a registration statement
(including a prospectus) with the SEC for the offering to which this
communication relates. Before you invest, you should read the prospectus
in that registration statement and other documents the issuer has filed
with the SEC for more complete information about the Trust and this
offering. You may get these documents for free by visiting EDGAR on the
SEC Web site at www.sec.gov.
Alternatively, the Trust or any Authorized Participant will arrange to
send you the prospectus if you request it by calling toll free at
1-866-320-4053 or contacting State Street Global Markets, LLC, One
Lincoln Street, Attn: SPDR(R) Gold, 30th Floor, Boston, MA
02111. The prospectus contains information about the SPDR Gold Trust and
its Shares which is material and/or which may be important to you. You
should read the entire prospectus, including "Risk Factors" before
making an investment decision about the Shares.
Marketed by State Street Global Markets, LLC, an affiliate of State
Street Global Advisors.
Not FDIC Insured - No Bank Guarantee - May Lose Value
CORP-0026
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Source: State Street Corporation
Contact: State Street Corporation
Marie McGehee, + 1-617-664-1898
or
World Gold Council
Matthew Graydon, + 44 (0)20 7826 4716
or
River Communications
Donna Cox-Davies, + 1-914-686-6699