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Products December 19, 2006
State Street Global Advisors Lauches International Real Estate ETF
State Street Global Advisors launched an exchange-traded fund Tuesday on the American Stock Exchange that will track the performance of real estate securities outside the US.
Reported by Adrien Martin
The streetTRACKS(R) DJ Wilshire International Real Estate ETF is the first to monitor the performance of publicly traded real estate securities outside the US, according to a press release from State Street about the new product.
The new fund is based on the Dow Jones Wilshire exUS Real Estate Securities Index(SM).
“Through the launch of this ETF, we’ve provided investors with simple, comprehensive exposure to the international real estate market, an exciting and otherwise difficult asset class to access,” said James Ross, senior managing director of State Street Global Advisors, in the release.
The company now has more than $113 billion in ETF assets under management as of November 30, 2006, and now manages 67 of the funds worldwide.
State Street came out with two ETFs in mid-November that give investors greater access to the Japanese market. One of the funds focuses on the broad Japanese stock market and measures the performance of Japan’s 1,000 largest stocks, and the other tracks the smallest 15% of companies in the stock market.
For more information, visit www.ssgafunds.com