State
Street Launches ETFs Based on Fortune Indexes
By
John Spence, Associate
Editor
Yesterday,
State Street Global Advisors (SSgA) launched two exchange-traded
funds (ETFs)
based on the FORTUNE 500 and FORTUNE e-50 Indexes. The two
funds began trading yesterday on the American Stock Exchange
(AMEX) under the ticker symbols FFF (500) and FEF
(e-50). The new funds are part of the recently-released
streetTRACKS Series Trust introduced by SSgA.
"FORTUNE
is pleased to be working with two pioneers in the ETF marketplace
- The American Stock Exchange and SSgA," said Jack
Haire, President of the FORTUNE Group. "This groundbreaking
agreement will give investors the opportunity to invest
in financial products that track our indexes."
According
to SSgA, its 13 ETFs currently have $35 billion in assets
worldwide.
Top
Ten Holdings of the FORTUNE 500 Index (as of 6/30/2000)
| Company
Name |
Percentage |
| General
Electric Co. |
4.64% |
|
Intel Corp. |
3.96% |
|
Cisco Systems Inc. |
3.91% |
| Microsoft
Corp. |
3.72% |
| Pfizer
Inc. |
2.67% |
|
Exxon Mobil Corp |
2.42% |
| Wal-Mart
Stores |
2.27% |
|
Oracle Corp. |
2.11% |
|
Citigroup Inc. |
1.80% |
| Intl.
Business Machines Corp. |
1.72% |
Top
Ten Holdings of the FORTUNE e-50 Index (as of 6/30/2000)
| Company
Name |
Percentage |
| Microsoft
Corp. |
9.26% |
| Intel
Corp. |
8.44% |
| Cisco
Systems Inc. |
7.95% |
|
Oracle Corp. |
7.91% |
| America
Online Inc. |
6.49% |
| JDS
Uniphase Corp |
5.18% |
| Yahoo
Inc. |
3.76% |
| Sun
Microsystems Inc. |
3.19% |
| Broadcom
Corp. |
3.03% |
| Worldcom
Inc. |
2.97% |
10/11/2000
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