Two SPDR trusts modify strategies concerning lending of securities

By Toni Weeks

San Diego, March 8 - The SPDR Index Shares Funds and the SPDR Series Trust modified the details of their strategies concerning the lending of portfolio securities, according to form 497 filings with the Securities and Exchange Commission.

The trusts specified that each fund in the trusts may lend portfolio securities to creditworthy borrowers in both U.S. and non-U.S. markets.

In addition, pertaining to the risks involved in securities lending, the trusts specified that the risk of losses resulting from problems in the settlement and accounting process are especially applicable to some international markets such as Taiwan.

Boston-based SSgA Funds Management, Inc. is the investment adviser to the funds of both trusts.

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