Products April 30, 2009

Principal Releases New Enrollment Workbook

Principal Financial Group said its has updated its enrollment workbook.
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According to a news release, the new workbook uses a three-step process that begins with deciding how much to save, followed by choosing an investment style described as “do-it-for-me” or “do-it-myself.” The final step is filling out an enrollment form.

Additionally, The Principal customizes the enrollment workbook to include retirement plan features selected by the plan sponsor, which may include:

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  • automatic enrollment
  • employer match
  • My Principal Edge Milestones
  • catch-up contributions
  • online enrollment.

“Our research showed us that this simple three-step style resonated with employees, improving their experience and prompting them to take action,” said Barrie Christman, vice president of Individual Investor Services for The Principal, in the news release. “We want to make it as easy as possible for employees to start saving and stay invested in order to help secure their financial futures.”

Products April 30, 2009

SSgA Unveils Mortgage Finance ETF

State Street Global Advisors announced that the SPDR KBW Mortgage Finance ETF began trading on the NYSE Arca Thursday.
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The company said it is the first exchange-traded fund (ETF) to provide U.S. investors with access to equities in the mortgage finance industry.

The SPDR KBW Mortgage Finance ETF seeks to track the total return performance of the KBW Mortgage Finance Index, a modified market-capitalization weighted index of the stocks listed on U.S. stock markets comprising of pure mortgage players, mortgage processors, title insurers, homebuilders, and banks and thrifts where mortgage loans dominate the loan book.

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Created and maintained by Keefe, Bruyette & Woods, Inc., a full-service investment bank specializing in the financial services industry, the KBW Mortgage Finance Index included 24 stocks as of March 31. The Fund’s expense ratio is 0.35%.

“The introduction of KME strengthens our suite of SPDR KBW ETFs, which are designed to help investors express a tactical view on industries within the financial services sector,” said Anthony Rochte, senior managing director at State Street Global Advisors, in a news release.

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