State Street Global Advisors launched six industry-specific exchange-traded funds on the American Stock Exchange, said spokeswoman Melissa Murphy. With the additions of the SPDR Metals & Mining, SPDR Pharmaceuticals, SPDR Oil & Gas Equipment & Services, SPDR Oil & Gas Exploration & Production, SPDR Retail and Street Tracks KBW Regional Banking funds, SSgA now manages a total of 65 ETFs worldwide.
The "precise exposure to targeted industries" offered by the latest ETFs should help investors seeking higher returns through "more refined portfolio construction," Greg Ehret, a senior managing director, said in a news release.
