News Details

BOSTON--(BUSINESS WIRE)-- State Street Global Advisors (SSgA), the investment management arm of State Street Corporation (NYSE: STT), today announced that the SPDR^(R) 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.

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 $1.4 trillion in assets under management at December 31, 2008, State Street Global Advisors has investment centers in Boston, Hong Kong, London, Montreal, Munich, Paris, Singapore, Sydney, Tokyo, Toronto and Zurich, and offices in 27 cities worldwide. For more information, visit State Street Global Advisors at www.ssga.com.

Note to Editors: SPDR Exchange Traded Funds

SPDR ETFs are a comprehensive family spanning an array of international and domestic asset classes. SPDR ETFs provide professional investors with the flexibility to select investments that are precisely aligned to their investment strategy. Recognized as the industry pioneer, State Street--in partnership with the American Stock Exchange--created the first ETF in 1993 (SPDR S&P 500 ETF- Ticker SPY). Since then, we've sustained our place as an industry innovator through the introduction of many ground-breaking products, including first-to-market successes with gold, international real estate, international fixed income and sector ETFs. SPDR ETFs are managed or marketed by SSgA or SSgA Funds Management, Inc, a registered investment adviser and wholly owned subsidiary of State Street Bank and Trust Company.

The "SPDR(R)" trademark is used under license from The McGraw-Hill Companies, Inc. ("McGraw-Hill"). No financial product offered by State Street Corporation or its affiliates is sponsored, endorsed, sold or promoted by McGraw-Hill. Standard & Poor's(R), S&P(R), SPDR(R), S&P 500(R) and Select Sector SPDRs(R) are trademarks of The McGraw-Hill Companies, Inc., and have been licensed for use by State Street Bank and Trust Company.

SPDR ETFs are managed by SSgA Funds Management, Inc., a registered investment adviser and wholly owned subsidiary of State Street Bank and Trust Company.

ETFs trade like stocks, are subject to investment risk and will fluctuate in market value.

Bond funds contain interest rate risk (as interest rates rise bond prices usually fall); the risk of issuer default; and inflation risk.

State Street Global Markets, LLC, member FINRA, SIPC is distributor for all SPDRs products and is a wholly owned subsidiary of State Street Corporation. References to State Street may include State Street Corporation and its affiliates.

Certain State Street affiliates provide services and receive fees from the SPDR ETFs. ALPS Distributors, Inc., a registered broker-dealer, is distributor for SPDR shares, MidCap SPDRs and Dow Diamonds, all unit investment trusts and Select Sector SPDRs.

Before investing, consider the funds' investment objectives, risks, charges and expenses. To obtain a prospectus which contains this and other information, call 1-866-787-2257 or visit www.spdrs.com. Read it carefully.

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    Source: State Street Corporation