(February 22 – 17:00 ET) – State Street Global Advisors Canada Ltd., the Canadian investment management arm of State Street Corporation, today announced the launch of the SSgA Dow Jones Canada 40 Index Participation Fund.
Index participation units are passively managed pooled investment vehicles similar to mutual funds, says State Street, however they are traded on an exchange. IPUs are designed to offer investors cost-effective index-linked investment vehicles. SSgA’s Dow Jones Canada 40 Index Participation Fund will invest in shares of the 40 companies that comprise the Dow Jones Canada 40 Index.
A preliminary prospectus to qualify the offering of the IPU was filed by SSgA in all Canadian provinces and territories on February 18, 2000.
SSgA, the investment management arm of State Street Corporation, says it uses quantitative and traditional techniques to manage US$667 billion in investment programs and portfolios for institutional and individual investors. Headquartered in Boston, SSgA has full investment operations in Asia, Western Europe, Australia and the U.S.
-IE Staff