FUND DESCRIPTION: SPDR Dow Jones Global Real Estate ETF is an exchange-traded index fund or Index ETF which is a separate investment portfolio of the SPDR Index Shares Fund, an investment management company. INVESTMENT OBJECTIVE: The SPDR Dow Jones Global Real Estate ETF seeks to replicate as closely as possible, before expenses, the price and yield performance of the Dow Jones Global Select Real Estate Securities Index. INDEX DESCRIPTION: The Dow Jones Global Select Real Estate Securities Index is a float adjusted market capitalization Index designed to measure the performance of publicly traded global real estate securities that represent the ownership and operation of commercial or residential real estate. The Index includes equity REITs and real estate operating companies that meet the following criteria: (i) the company must be both an equity owner and operator of commercial and/or residential real estate (security types excluded from these indexes include mortgage REITs, netlease REITs, real estate finance companies, mortgage brokers and bankers, commercial and residential real estate brokers and estate agents, home builders, large landowners and subdividers of unimproved land, hybrid REITs, and timber REITs, as well as companies that have more than 25% of their assets in direct mortgage investments); (ii) the company must have a minimum total market capitalization of at least $200 million at the time of its inclusion; (iii) at least 75% of the company’s total revenue must be derived from the ownership and operation of real estate assets; and (iv) the liquidity of the company’s stock must be commensurate with that of other institutionally held real estate securities. Countries covered in the Index have historically included, among others, Australia, Austria, Belgium, Brazil, Canada, Chile, France, Germany, Hong Kong, Italy, Japan, Malaysia, the Netherlands, New Zealand, the Philippines, Poland, Singapore, South Africa, Spain, Sweden, Switzerland, Taiwan, Thailand, Turkey,
the United Kingdom and the United States. and was comprised of 212 securities. FUND STRATEGY: Under normal market conditions, the Fund generally invests substantially all, but at least 80%, of its total assets in the securities comprising the Index. In seeking to track the performance of the 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 will 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. FUND MANAGEMENT: SSgA FM serves as the investment adviser to the Fund, subject to the supervision of the Board, is responsible for the investment management of the Fund.
|
