Products February 19, 2008

SPDR International Dividend ETF Kicks Off Trading

State Street Global Advisors (SSgA) announced that the SPDR S&P International Dividend exchange traded-fund (ETF) began trading on the American Stock Exchange on Tuesday.
Reported by

SSgA said the SPDR S&P International Dividend ETF seeks to track the S&P International Dividend Opportunities Index, which includes 100 tradable, exchange-listed stocks from around the world that offer high dividend yields.

The stocks included in this index must have a minimum total market capitalization of $1.5 billion, a three-month average daily value traded greater than $10 million, and must have traded at least 300,000 shares for each of the preceding six months, according to the company.

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Additionally, for inclusion in the index, the stocks must have positive five-year earnings growth and profitability as measured by positive earnings per share over the latest 12-month period. The ETF’s expense ratio will be 0.45%.

Deals & People February 19, 2008

Gateway Investment Advisers Acquired By Natixis Global Asset Management

Today, Natixis Global Asset Management announced its acquisition of Cincinnati-based investment manager Gateway Investment Advisers.
Reported by

Gateway has $7.9 billion in assets under management (as of December 31, 2007), including the $4.3 billion Gateway Fund (GATEX), as well as a variety of subadvised mandates and private accounts. The firm, known for its risk-conscious investment approach that seeks to capture the majority of the return associated with equity market investments while exposing investors to lower risk and volatility than other equity investments, will continue to operate autonomously, retaining its brand name and its Cincinnati headquarters.

The Gateway Fund, which will be available for purchase through financial intermediaries, has been reorganized as a member of the Natixis Funds family and will keeps its name, investment strategy, and portfolio management. The Gateway investment team will remain in place and will continue to implement the firm’s hedged equity strategy, the companies announced.

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