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Thursday, February 17, 2000 State Street's Confidential Filing State Street Global Advisors has filed nine exchange traded funds (ETFs) to be launched in late May, but the Boston-based firm is being totally tight-lipped about two of the funds which were filed confidentially, essentially meaning that the filings are kept from public view until just prior to the launch. The seven funds that are not confidential include: a large-cap growth fund, a large-cap value fund, a small-cap growth fund, a small-cap value fund based on the Global Titans, a REIT index, a small-cap index and a technology fund, according to a State Street spokesperson.
Bruce Katz, director of the capital management group division at Avatar Associates, an advisory firm located in New York, with about $3 billion in assets said, "State Street is doing everything that Barclays is doing in the market. The first person in the market gets the lion share." "I can't think of when I have ever seen a filing like this," said John Baker, of counsel at the law firm Stradley, Ronon, Stevens & Young. "It is unusual to file a mutual fund completely confidentially. It suggests they have some secret business plan they have to tell the SEC about but don't want to tell the world." Mike Gillespie, who prepared the filing for State Street would not comment on the reason why the filing was made confidentially. Printed from: MFWire.com/story.asp?s=25533 Copyright 2000, InvestmentWires, Inc. All Rights Reserved |