State Street Global Advisors (State Street), the investment management
arm of State Street Corporation (NYSE: STT) and World Gold Trust
Services, LLC, a wholly-owned subsidiary of the World Gold Council,
today announced a change of name for the streetTRACKS®
Gold Trust (NYSE: GLD). Effective at the opening on May 21, 2008, the
exchange traded security will trade as SPDR®
Gold Shares under the re-named SPDR® Gold
Trust, the ticker symbol GLD will remain unchanged. A full prospectus
will be available at www.spdrgoldshares.com.
The name change reflects a re-branding initiative launched by State
Street in 2007 that consolidated the firm’s
exchange traded fund offerings under the singular umbrella of SPDR®s
to make it easier for investors to identify the firm’s
ETFs in a rapidly growing market. Less than two years after this
initiative was announced, “SPDR ETFs”
was named the Most Recognized ETF Brand in the Americas at the 4th
Annual Global ETF Awards Dinner in April 2008.
“Given the success of our recent re-branding,
State Street is very pleased that GLD is now trading under the SPDR Gold
Trust name,” said James Ross, senior managing
director at State Street Global Advisors. “This
name change helps further strengthen State Street’s
position as a leader in exchange traded products.”
Launched by World Gold Trust Services in November 2004, GLD, the first
US commodity based exchange traded security, has emerged as one of the
fastest growing exchange traded products. State Street Global Markets,
LLC serves as marketing agent for GLD. As of April 30, 2008, assets
under management in GLD totaled approximately $16.4 billion, making it
the sixth largest US ETF by assets.
“The brand equity in the SPDR name, which can
be traced back to the world’s first ETF, will
benefit the SPDR Gold Trust,” says James
Burton, managing director of World Gold Trust Services. “As
the first US exchange traded product to provide access to the benefits
of gold, the SPDR Gold Trust has undoubtedly helped change the way many
financial advisors and investors approach portfolio diversification.”
State Street is one of the largest ETF providers in the United States
and abroad with more than $159 billion of ETF assets under management.*
Today, State Street’s family of SPDR Exchange
Traded Funds allows investors to choose from more than 66 ETFs globally.
For more information on SPDR exchange traded funds, visit www.spdretfs.com.
About World Gold Trust Services, LLC.
World Gold Trust Services, LLC is a wholly owned subsidiary of the World
Gold Council (WGC) which is a commercially-driven marketing organization
that is funded by the world’s leading gold
mining companies.