The new ETF is designed to provide investors with access to companies domiciled in Russia. The SPDR S&P Russia ETF seeks to track the performance of the S&P BMI Russia Capped Index. The index includes companies domiciled in Russia with a float-adjusted market cap of $100m or more and a minimum value traded of $50m for the last 12 months at the time of annual reconstitution. As of February 26, 2010, the index included 72 stocks.
Anthony Rochte, senior managing director at State Street Global Advisors, said: “The launch of the SPDR S&P Russia ETF provides investors and investment professionals with diversified, convenient access to a country poised for potential growth as the global economy recovers. The driving force behind the development of this new emerging market SPDR ETF was increasing investor demand for more precise exposure to the BRIC countries.”
