Effects of Fed Liquidity Programs and the State of ETFs
Webcast: Thursday 2 April 2020
As markets continue to experience unprecedented volatility, we are addressing and answering key concerns and questions from clients.
This week, experts from State Street Global Advisors provided insight on the pandemic’s impact on the ETF industry and examined the Fed lending facilities and its effect on fixed income markets thus far.
Rory Tobin serves as Chairman of State Street Global Advisors EMEA and Head of the Global SPDR ETF business at State Street Global Advisors. In this role, he is responsible for defining, leading and executing the growth strategy for the Global SPDR ETF business. Rory is a member of the firm's Executive Management Group.
Matthew J. Steinaway, CIO of Global Fixed Income, Cash and Currency
Matt Steinaway is a Senior Managing Director of State Street Global Advisors and is the Chief Investment Officer of the firm's Global Fixed Income, Currency and Cash Group. In this role, he oversees a team of approximately 120 professionals managing assets across active, smart beta and passive strategies for fixed income, cash and currency portfolios. Matt joined the company in 2003 and has more than 25 years of credit and investment experience. He is also a member of State Street Global Advisors' Executive Management Group and Investment Committee.
William Ahmuty Head of SPDR Fixed Income Group
Bill is the Head of SSGA SPDR ETF Fixed Income Group and the SPDR Insurance Team. He is responsible for leading SPDR ETF Fixed Income Institutional sales and strategy and joined the ETF Institutional Sales and Capital Markets Team in 2014. Bill has over 12 years of ETF trading experience across asset classes and over 20 years of market experience.
Singapore: State Street Global Advisors Singapore Limited, 168, Robinson Road, #33-01 Capital Tower, Singapore 068912 (Company Reg. No: 200002719D, regulated by the Monetary Authority of Singapore). T: +65 6826-7555. F: +65 6826-7501.
All forms of investments carry risks, including the risk of losing all of the invested amount. Such activities may not be suitable for everyone.
There can be no assurance that a liquid market will be maintained for ETF shares.
The prospectuses in respect of the offer of the units (the "Units") in the SPDR® Straits Times Index ETF, SPDR® S&P 500 ETF Trust and SPDR® Dow Jones Industrial Average ETF Trust (the "Funds") are available and may be obtained upon request from State Street Global Advisors Singapore Limited ("SSGA", Company Registration number: 200002719D). Investors should read the prospectus before deciding whether to acquire Units in any of the Funds. The value of Units and the income accruing to such Units may fall or rise. Units in the Funds are not obligations of, deposits in, or guaranteed by, SSGA or any of its affiliates. An investment in Units is subject to investment risks, including the possible loss of the principal amount invested. Past performance figures are not necessarily indicative of future performance of the Funds. Investors have no right to request SSGA to redeem their Units while the Units are listed. It is intended that holders of Units may only deal in their Units through trading on the Singapore Exchange Securities Trading Limited ("SGX-ST") of NYSE Arca Inc. (“NYSE Arca”) or any of the other exchanges where the Funds are listed. Listing of the Units on the SGX-ST of the NYSE Arca or any other exchange does not guarantee a liquid market for the Units.
The prospectus in respect of the Singapore offer of the shares (the ‘Shares’) in the SPDR Gold Trust (the ‘Trust’) is available and may be obtained upon request from State Street Global Advisors Singapore Limited ("SSGA") (Co. Reg. No: 200002719D). The value of Shares in the Trust and the income accruing to the Shares, if any, may fall or rise. Investors should read the prospectus of the Trust before deciding whether to purchase Shares. Shares in the Trust are not obligations of, deposits in, or guaranteed by, World Gold Trust Services, LLC, SSGA or any of their affiliates. You may wish to seek advice from a financial adviser before making a commitment to purchase Shares. In the event that you choose not to seek advice from a financial adviser, you should consider whether the Trust is suitable for you. Investors have no right to request the Sponsor to redeem their Shares while the Shares are listed. It is intended that holders of Shares may only deal in their Shares through trading on the SGX-ST. Listing of the Shares on the SGX-ST does not guarantee a liquid market for the Shares.
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ETFs trade like stocks, are subject to investment risk, fluctuate in market value and may trade at prices above or below the ETFs net asset value. Brokerage commissions and ETF expenses will reduce returns.
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