Products April 25, 2007

State Street Launches International SPDRs ETFs

April 25, 2007 (PLANSPONSOR.com) - State Street Global Advisors (SSgA) has introduced two new SPDRs exchange traded funds (ETFs), providing investors low-cost access to developed international markets.
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According to the announcement, SPDR S&P International Small Cap ETF Index includes companies with market capitalizations below $2 billion domiciled in developed countries outside the U.S., and has an expense ratio of 0.60%. According to State Street, it is the first capitalization-weighted vehicle covering international small cap equities.

The SPDR S&P World ex-US ETF Index includes more than 5,000 companies domiciled in developed countries outside the U.S., including Canada, and has an expense ratio of 0.35%.

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The two new SPDRs bring the total of State Street’s family of US-listed ETFs to 53 funds, the company said. The new funds will begin trading on the American Stock Exchange on Thursday.

Products April 24, 2007

New Pru Funds Opt for 'Morally Responsible Investing'

April 24, 2007 (PLANSPONSOR.com) - Prudential Retirement has introduced three new institutional sub-advised funds that will be managed in a manner consistent with socially, ethically and morally responsible investing.
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According to a news release, the three funds – covering the Large Cap Value, Large Cap Growth and Fixed Income asset classes – will be run by existing sub-adviser partners within Prudential Retirement’s Manager-of-Managers program, which evaluates investment options based on nominal and risk-adjusted returns; downside risk; active management expertise; style consistency; and the overall reputation and capabilities of the investment-management firm.

The new funds will be screened to ensure they only invest in companies that avoid business practices that may be viewed as detrimental to society or in violation of religious teachings, according to the announcement. The funds will also be encouraged, consistent with their investment objectives, to invest in firms that respect human rights; demonstrate a commitment to the communities in which they operate; and exhibit leadership in the areas of diversity, environmental stewardship and corporate governance.

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The three new funds and their sub-advisers are:

  • Morally Responsible Large Cap Value, Aronson + Johnson + Ortiz.
  • Morally Responsible Large Cap Growth, Turner Investment Partners,
  • Morally Responsible Core Plus Bond,  PIMCO.

For more information, contact Ric Filippelli, director, Investment Products, at Prudential Retirement, at (860) 534.8443.

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