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SPDR Nuveen Barclays Build America Bond ETF
Ticker Symbol: BABS* CUSIP: 78464A276 Exchange: NYSEA
* NOTE: This security is no longer trading as of 8/24/2016
Company's Online Profile
FUND DESCRIPTION: SPDR Nuveen Barclays Build America Bond ETF is an exchange-traded index fund or Index ETF which is a separate investment portfolio of the SPDR Series Trust, an open-ended investment management company. INVESTMENT OBJECTIVE: The SPDR Nuveen Barclays Build America Bond ETF Fund seeks to provide investment results that, before fees and expenses, correspond generally to the price and yield performance of the Barclays Build America Bond Index. INDEX DESCRIPTION: The Barclays Build America Bond Index is a subset of the Barclays taxable Municipal Bond Index. The Index tracks the market for taxable municipal securities with respect to which the issuer has made an irrevocable election to designate the bonds as Qualified Bonds under the Build America Bond program created under the American Recovery and Reinvestment Act of 2009 or other legislation providing for the issuance of taxable municipal securities on which the issuer receives federal support of the interest paid. The Index consists of all direct pay Build America Bonds that satisfy the rules and conditions of the Barclays Taxable Municipal Index which represents securities that are taxable, dollar denominated, and issued by a U.S. state or territory. Barclays determines the composition and relative weightings of the securities in the Index and publishes information regarding the market value of the Index. Build America Bonds are bonds issued by state and local governments to finance capital projects such as public schools, roads, transportation infrastructure, bridges, ports and public buildings, among others. Build America Bonds pay interest at rates that are expected to be competitive with rates typically paid by private bond issuers in the taxable fixed income market. The Act authorizes state and local governments to sell new Build America Bond issues without limit through December 31, 2010. As of March 31, 2010, there were approximately 74 issues included in the Index and the modified adjusted duration of securities in the Index was approximately 12.38 years. FUND STRATEGY: In seeking to track the performance of the Barclays Capital Build America Bond Index, the Fund employs a sampling strategy, which means that the Fund is not required to purchase all of the securities represented in the Index. Instead, the Fund may purchase a subset of the securities in the Index in an effort to hold a portfolio of securities with generally the same risk and return characteristics of the Index. The quantity of holdings in the Fund will be based on a number of factors, including asset size of the Fund. It is generally expected that the Fund is to hold less than the total number of securities in the Index, but reserves the right to hold as many securities as it believes necessary to achieve the Fund's investment objective. Under normal market conditions, the Fund generally invests substantially all, but at least 80%, of its total assets in the securities comprising the Index or in securities that has been determined to have economic characteristics that are substantially identical to the economic characteristics of the securities that comprise the Index. In addition, the Fund may invest in fixed income securities that are not included in the Index, futures, options, swap contracts and other derivatives, cash and cash equivalents or money market instruments, such as repurchase agreements and money market funds. FUND MANAGEMENT: SSgA Funds Management, Inc. serves as the investment adviser to the Fund. The Adviser has retained Nuveen Asset Management, as sub-adviser, to be responsible for the day-to-day management of the Fund's investments, subject to supervision by the Adviser and the Board of Trustees.
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Notes: Effective at the close of markets on Aug. 24, a dozen of the smallest ETFs in the State Street Global Advisors lineup will cease to trade. Announcing the closures, SSgA said that the decisions were made based on an ongoing review of the SPDR ETF offering and limited market demand.
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IPO - 5/12/2010 -
Link to IPO Prospectus
Previous Name: SPDR Nuveen Barclays Capital Build America Bond ETF Changed: 10/31/2012
Micro Cap Stock -
Market Value $10.0 Million
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Company's Online Information Links
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| Company's Online SEC EDGAR Filings |
| Company's Email Address Links |
| Address and Phone Numbers |
| Address: One Lincoln Street, Boston, MA 02111 |
| Main Phone Number |
866-787-2257 |
| Fax Number |
Not Available |
| Investor Contact
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866-787-2257
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| Toll Free Phone Number |
866-787-2257 |
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