State Street To Begin Trading The SPDR SSgA Ultra Short Term Bond ETF (NYSEArca:ULST)

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October 9, 2013 10:33am FUND LAUNCH NYSE:ULST

new8State Street has announced that they will begin trading the ProShares SPDR SSgA Ultra Short Term Bond ETF (NYSEArca:ULST) Thursday, October 10, 2013. The SPDR SSgA Ultra Short Term Bond ETF seeks to provide current income

consistent with preservation of capital and daily liquidity through short duration high quality investments.


Under normal circumstances, the Fund invests substantially all of its assets in the SSgA Ultra Short Term Bond Portfolio (the “Portfolio”), a separate series of the SSgA Master Trust with an identical investment objective as the Fund. As a result, the Fund invests indirectly through the Portfolio.

SSgA Funds Management, Inc. (the “Adviser” or “SSgA FM”) invests, under normal circumstances, at least 80% of the Portfolio’s net assets (plus the amount of borrowings for investment purposes) in a diversified portfolio of U.S. dollar-denominated investment grade fixed income securities. The Portfolio primarily invests in investment grade fixed income securities that are rated a minimum of A- or higher by Standard & Poor’s Financial Services LLC and/or Fitch Inc., or A3 or higher by Moody’s Investors Service, Inc., or, if unrated, determined by the management team to be of equivalent quality. The Portfolio invests in fixed and floating rate securities of varying maturities, such as corporate obligations (including commercial paper of U.S. and foreign entities, master notes, and medium term notes); government bonds (including U.S. Treasury Bills, notes, and bonds); agency securities; privately-issued securities; asset-backed and mortgage-backed securities; money market instruments (including U.S. and foreign bank time deposits, certificates of deposit, and banker acceptances) and other investment companies. The Portfolio may also invest in exchange traded products (“ETPs”). ETPs include exchange traded funds registered under the Investment Company Act of 1940, as amended, (the “1940 Act”) that seek to track the performance of a market index (“Underlying ETFs”) and exchange traded notes. In addition, the Portfolio may invest in certain ETPs that pay fees to the Adviser and its affiliates for management, marketing or other services.

Under normal circumstances, the effective duration of the Portfolio is expected to be between three and nine months. Effective duration is a measure of the Portfolio’s price sensitivity to changes in yields or interest rates; however, investors should be aware that effective duration is not an exact measurement and may not reliably predict a particular security’s price sensitivity to changes in yield or interest rates. In addition, the Portfolio expects to maintain a weighted average maturity between six and eighteen months. Weighted average maturity is a U.S. dollar-weighted average of the remaining term to maturity of the underlying securities in the Portfolio. For the purposes of determining the Portfolio’s weighted average maturity, a security’s final maturity date, or for amortizing securities such as asset-backed and mortgage-backed securities, its weighted average life will be used for calculation purposes. The Portfolio and Fund are not money market funds and do not seek to maintain a stable net asset value of $1.00 per share.

You can find the complete prospectus: HERE

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