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Total Market ETF Added to the streetTRACKS Family.


BOSTON -- SSgA Funds Management, Inc. (SSgA), a registered investment adviser and wholly-owned subsidiary of State Street Corporation (NYSE NYSE

See: New York Stock Exchange
: STT STT State Street Corporation (stock symbol)
STT Suomen Tietotoimisto (Finnish National News Agency)
STT Secure Transaction Technology
STT Surface Tension Transfer (welding) 
), announced that effective yesterday, the FORTUNE 500(R) Index Fund (AMEX AMEX

See: American Stock Exchange
: FFF (FreeForm Fabrication) See rapid manufacturing and 3D printing. ) was renamed the streetTRACKS(R) Total Market ETF ETF

See Exchange Traded Fund.


ETF

See exchange-traded fund (ETF).
 (TMW TMW Tomorrow
TMW The Mana World (game)
TMW Tell Me Why
TMW Tactical Missile Wing
TMW Too Much Work
TMW Ten Most Wanted (TV show)
TMW Tamworth, New South Wales, Australia - Tamworth
). The investment objective is to track as closely as possible, before expenses, the performance of the Dow Jones Wilshire 5000 Composite Index, the underlying index. The change of the name and investment objective was approved by shareholders on June 10, 2005.

With this change, investors in the streetTRACKS Total Market ETF will have expanded exposure to the U.S. equities market in a single trade. With approximately 5,000 underlying stocks, the Dow Jones Wilshire 5000 Composite Index represents all listed U.S.-headquartered equity securities with readily available price data.

"We are very excited about this relationship with Dow Jones and being the only ETF sponsor to offer a fund tied to the Dow Jones Wilshire 5000 Composite Index," said Jim Ross, co-head of SSgA's Advisor Strategies group. "The Dow Jones Wilshire 5000 is the leading index for total market investing. This ETF will provide investors with diversified exposure to the entire U.S. equities market through a single, affordable and continuously traded investment vehicle."

"The Dow Jones Wilshire 5000 index is the most comprehensive measure of the U.S. equities market. As such, this ETF is an ideal instrument for both institutional and retail investors," said Michael A. Petronella, president, Dow Jones Indexes. "We are confident that State Street Global Advisors and its distribution partners will make this product a success."

Notes to Editor:

streetTRACKS are distributed by State Street Global Markets, LLC, member NASD NASD

See: National Association of Securities Dealers


NASD

See National Association of Securities Dealers (NASD).
, SIPC (Simply Interactive PC) An earlier umbrella term from Microsoft and Intel for a PC that works like a home appliance. For example, it has a sealed case, uses external connectors for expansion and boots in just a couple of seconds. .

SSgA Funds Management, Inc. is the investment adviser of the FORTUNE 500 Index Fund and a wholly owned subsidiary Wholly Owned Subsidiary

A subsidiary whose parent company owns 100% of its common stock.

Notes:
In other words, the parent company owns the company outright and there are no minority owners.
 of State Street Corporation. SSgA Funds Management, Inc. and other advisory affiliates of State Street Corporation comprise State Street Global Advisors ("SSgA").

State Street Global Advisors, the investment management group of State Street Corporation, delivers investment strategies and integrated solutions to clients worldwide across every asset class, investment approach and style. With $1.4 trillion in investment programs and portfolios as of March 31, 2005, State Street Global Advisors has investment centers in Boston, Hong Kong, London, Milan, Montreal, Munich, Paris, Singapore, Sydney, Tokyo, and Zurich, and offices in 28 cities worldwide.

The Dow Jones Wilshire 5000 Composite Index represents the broadest index for the US equity market, measuring the performance of all listed U.S.- headquartered securities with readily available price data. The Dow Jones Wilshire Indexes are calculated, distributed and marketed by Dow Jones Indexes(R) pursuant to an agreement with Wilshire Associates Incorporated(R).
COPYRIGHT 2005 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2005, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Date:Jun 14, 2005
Words:444
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