Products September 29, 2011

SSgA Launches Three ETFs

State Street Global Advisors (SSgA) announced that the SPDR S&P Aerospace & Defense ETF, SPDR S&P Health Care Services ETF, and SPDR S&P Software & Services ETF have begun trading on the NYSE Arca.
Reported by

The three new SPDR industry ETFs seek to track the performance of a series of S&P Select Industry Indices, which are designed to measure the performance of Global Industry Classification Standard (GICS) sub-industries, which SSgA says is the most detailed level of industry definition. Constituent stocks are members of the S&P Total Market Index, which includes all common equities listed on the NYSE and NASDAQ U.S. exchanges.  

The S&P Aerospace & Defense Select Index is an equal-weighted index that includes 34 manufacturers of civil or military aerospace and defense equipment, parts or products, including defense electronics and space equipment.

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The S&P Health Care Services Select Index is an equal-weighted index that includes 57 providers of patient health care services, including dialysis centers, lab testing services, pharmacy management services, and companies providing business support services to health care providers.

The S&P Computer Software Select Index is an equal-weighted index that includes 112 companies engaged in the research, design, support production, or distribution of products or processes that relate to software applications.

All funds have an expense ratio of 0.35%.

Products September 29, 2011

ASPPA Launches Association For Plan Advisers

The American Society of Pension Professionals & Actuaries (ASPPA) announced the launch of The National Association of Plan Advisors (NAPA).
Reported by

NAPA is structured as a professional society exclusively focused on advisers serving employer-sponsored retirement plans. Advisers will benefit from advocacy, business intelligence, and networking designed to help them succeed and stay abreast of emerging industry trends and best practices, the organization said.

“First and foremost, NAPA is about advocacy. Unfortunately Washington policymakers underestimate the role plan advisers play in the retirement industry. The recent debates over uniform fiduciary standards, fee disclosure, and the definition of investment advice under ERISA are examples of current issues in play here in DC. Given our economic uncertainty and the debate over the future of 401(k) plans, there has never been a more important time for retirement plan advisors to provide a unified and strong voice on these issues,” said Brian Graff, Executive Director and CEO of ASPPA.

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Besides advocacy, NAPA members will have access to Webcasts, newsletters, government affairs briefing calls, industry expertise for their practice and clients, and registration discounts for the The ASPPA 401(k) SUMMIT, its annual conference for advisers.

For more information about NAPA, visit www.asppa.org/napa
 

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