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BSX Approves Secondary Listing of SSgA Cash Management Fund
The Company is an open-ended investment company with variable capital organized under the laws of Ireland. The Company is organized in the form of an umbrella fund, comprising the U.S. Dollar Fund, the Pound Sterling Fund, the Euro Fund and the Canadian Dollar Fund. Each Fund has three classes of shares, Global Shares, Global Services Shares, and Global Accumulator Shares.
All Funds seek to maintain a high level of liquidity, preserve capital and stability of principal expressed in the Fund's Designated Currency and, consistent with those objectives, earn current income. Unlike other funds which acquire and manage their own portfolio of securities, each Fund is a feeder fund and seeks to achieve its investment objective by investing all of its assets in a Portfolio of the Portfolio Trust. The Portfolio Trust is a master trust fund organized under the laws of the State of Delaware in the U.S. that invests in assets of the Fund's Designated Currency and which has an investment objective identical to that of the Fund.
The Investment Managers for the Fund are State Street Global Advisors United Kingdom.
The listing of SSgA Cash Management Fund plc - U.S. Dollar Fund is sponsored by BCB Securities Limited.
Greg Ehret of State Street Global Advisors commented, "State Street Global Advisors (SSgA) is the 6th largest investment manager in the world with over $560 billion under management, of which over $138 billion are in cash managed strategies. SSgA Cash Management Fund plc will provide superior, absolute, and risk-adjusted returns. Our listing on the BSX further demonstrates our commitment to this important strategic market."
"The BSX welcomes SSgA Cash Management Fund plc - U.S. Dollar Fund to listing", said Mr. James S. McKirdy, Listing Manager of the BSX. "The Exchange is pleased that companies listed on other recognized exchanges continue to seek a secondary listing on the BSX to facilitate their international marketing efforts."