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Products May 2, 2011
SSgA Announces Changes to SPDR Dow Jones Global Titans ETF
May 2, 2011 (PLANSPONSOR.com) - State Street Global Advisors (SSgA), the asset management business of State Street Corporation announced changes to the index and name of the SPDR Dow Jones Global Titans ETF.
Reported by Rebecca Moore
Effective May 2, 2011, the SPDR Dow Jones Global Titans ETF began tracking The Global Dow index and was renamed the SPDR Global Dow ETF. The fund’s ticker symbol (DGT) and annual expense ratio (0.50%) remain unchanged and no action is required by shareholders.
According to the announcement, the Global Dow is a 150-stock index of leading blue chip companies from around the world. The Index includes companies with a long history of success and a wide following among investors that are selected by an Averages Committee comprised of the managing editor of The Wall Street Journal, the head of Dow Jones Indexes research and the head of CME Group Research.
The Index is equal-weighted and includes companies from developed and emerging economies as well as those from emerging economic sectors.
“We’re pleased to provide investors with access to The Global Dow, an innovative benchmark often viewed as a global extension of the Dow Jones Industrial Average,” said James Ross, senior managing director and global head of SPDR Exchange Traded Funds at SSgA, in the announcement. “In addition to tracking a broader universe of leading companies, the SPDR Global Dow ETF’s equal-weighted index strategy ensures that the price movements of the larger stocks are balanced with those of the smaller stocks.”