State Street Global Advisors of New York is planning to introduce ten exchange-traded funds, according to a Sept. 25 SEC filing. It was to begin trading seven of these funds on the American Stock Exchange last week, the company announced.
These seven funds, to be called streetTRACKS, will be offered in conjunction with either Dow Jones or Morgan Stanley Dean Witter, both of New York, according to the filing. An eighth streetTRACK fund based on a real estate investment trust index of Wilshire Associates of Santa Monica, Calif. and two other funds based on the Fortune 500 Index and the Fortune e-50 Index, will be introduced by year-end, a State Street spokesperson said.
Four of the streetTRACK funds will be based on four Dow Jones indexes- the large-cap, small-cap, growth and value indexes. A fifth Dow Jones-focused fund will be based on the Dow Jones Global Titans Index.
