20160824 關於 XLF的分拆

 

為了因應REITS將由金融類股獨立出來成為GICS的第11個區塊，原本歸納在XLF底下的REITS將會被獨立出另一檔ETF：XLRE(The Real Estate Select Sector SPDR Fund)

 

SPDR預計於2016/09/16執行配股，以持有XLF的投資人為對象，將會配發一定比例的XLRE的股數，但由於執行比例尚未公告，需等待官方通知

 

相關文章

http://www.etf.com/sections/features-and-news/what-new-real-estate-sector-means-etfs

 

https://www.spdrs.com/resources/news/article.seam?newsId=4149116100

 

 

State Street Global Advisors Announces that Changes to the Financial Select Sector Index will Result in Modifications to The Financial Select Sector SPDR® Fund

BOSTON – June 8, 2016 – State Street Global Advisors (SSGA), the asset management business of State Street Corporation (NYSE:STT), today announced that, following the statement from S&P Dow Jones Indices regarding upcoming modifications to the index constituents of the Financial Select Sector Index (Financial Sector Index), The Financial Select Sector SPDR Fund (XLF) will make certain adjustments to its portfolio in order to efficiently continue to track the Financial Sector Index. 

The modifications to the Global Industry Classification Standards (GICS®) previously announced by S&P Dow Jones Indices and MSCI Inc. will divide the current financial sector into two sectors: financial services and real estate.  As a result, the Financial Sector Index will be reconstituted to remove real estate from the financial sector. Effective concurrent with changes to the Financial Sector Index, XLF will no longer have exposure to real estate securities (except mortgage REITs, which will remain in the Financial Sector Index consistent with the GICS reclassification, scheduled for September 16, 2016). These modifications to XLF are intended to allow investors to seek precise, liquid financial sector exposure that aligns with the updated GICS sector classifications. 

In order to facilitate an efficient transition to the reconstituted Financial Sector Index, XLF will seek to obtain its real estate exposure in shares of The Real Estate Select Sector SPDR Fund (XLRE) in advance of the Financial Sector Index reconstitution.  XLRE seeks to track the Real Estate Select Sector Index.  Effective immediately, the operating fees and expenses of XLRE will be waived until September 16, 2016, such that XLRE will have an expense ratio of zero during that time period. 

Upon effectiveness of the changes to the Financial Sector Index, XLF intends to issue a special dividend to its shareholders.  The special dividend will be comprised of shares of XLRE.

Important dates for this special dividend are as follows:

Ex-Date: September 19, 2016
Record Date: September 21, 2016
Pay Date: September 22, 2016 

Effective on the date of index reconstitution, the Financial Select Sector Index will include securities of companies from the following industries: diversified financial services, insurance, banks, capital markets, consumer finance, thrifts and mortgage finance, and mortgage real estate investment trusts (REITs). The Real Estate Select Sector Index includes real estate management, development and REITs, with the exception of mortgage REITs. The Indexes are two of the Select Sector Indexes developed and maintained in accordance with the following criteria: (1) each of the component securities in the Index is a constituent company of the S&P 500 Index; and (2) the Index is calculated by S&P Dow Jones Indices LLC based on methodology proprietary to S&P Dow Jones Indices LLC and BofA Merrill Lynch Research, using a modified market capitalization methodology.
 
SSGA's leading suite of US-listed select sector SPDR ETFs includes 11 funds with $93.9 billion in assets as of May 31, 2016.

About SPDR Exchange Traded Funds
SPDR ETFs are a comprehensive family spanning an array of international and domestic asset classes. SPDR ETFs are managed by SSGA Funds Management, Inc., a registered investment adviser and wholly owned subsidiary of State Street Corporation. The funds provide investors with the flexibility to select investments that are precisely aligned to their investment strategy. Recognized as an industry pioneer, State Street created the first US listed ETF in 1993 (SPDR S&P 500® – Ticker SPY) and has remained on the forefront of responsible innovation, as evidenced by the introduction of many ground-breaking products, including first-to-market launches with gold, international real estate, international fixed income, and sector ETFs.