SSgA Announces Fixed Income ETFs

State Street Global Advisors (SSgA) has announced five new fixed income SPDRs exchange-traded funds (ETFs) that will begin trading on the American Stock Exchange on Wednesday.
According to a State Street news release, the five new SPDRs are:
  • The Lehman Brothers 1-3 Month U.S. Treasury Bill Index, which includes all publicly issued zero-coupon U.S. Treasury Bills that have a remaining maturity of less than three months and more than one month, are rated investment grade, and have $250 million or more of outstanding face value. Expense Ratio: 0.13%.
  • The Barclays US Government Inflation-Linked Index, which includes publicly issued, U.S. Treasury inflation protected securities that have at least one year remaining to maturity on index rebalancing date, with an issue size equal to or exceeding $500 million. Expense Ratio: 0.18%.
  • The Lehman Brothers U.S. Aggregate Index, which provides a measure of the performance of the U.S. dollar denominated investment grade bond market. Expense Ratio: 0.13%.
  • The Lehman Brothers Intermediate U.S. Treasury Index, which includes all publicly issued U.S. Treasury securities that have a remaining maturity of greater than or equal to one year and less than 10 years, are rated investment grade, and have $250 million or more of outstanding face value. Expense Ratio: 0.13%.
  • The Lehman Brothers Long U.S. Treasury Index, which includes all publicly issued, U.S. Treasury securities that have a remaining maturity of 10 or more years, are rated investment grade, and have $250 million or more in outstanding face value. Expense Ratio: 0.13%.
More information is at www.ssga.com.

Pershing Eases Managed Account Availability for Introducing Broker-Dealers

Pershing LLC has launched Managed Account Network, an open architecture platform making available a wide range of managed account solutions for introducing broker-dealer firms to offer their clients.
According to a Pershing press release, through Managed Account Network, introducing broker-dealer customers can access the services of external turnkey asset management program providers such as Lockwood Advisors, FundQuest, Envestnet Asset Management, Morningstar Investment Services and Tercet Capital, LLC. Clients can hold the related assets in custody at Pershing.
Managed account services available include separately managed accounts, unified managed accounts, mutual fund wrap accounts and advisor-directed programs.
“Investment professionals are increasingly looking for flexible managed account services to fulfill their clients’ needs. The open architecture of Managed Account Network will enable our introducing broker-dealer customers to work closely with some of the finest turnkey asset management program providers in support of their strategic business objectives,’ said Ron Fiske, managing director of the product management and development group at Pershing, in the press release.
Pershing LLC, a subsidiary of the Bank of New York Company, Inc., is a global provider of financial business solutions to institutional and retail financial organizations and independent registered investment advisers.

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