State Street Global Advisors Launches US Community Investing Index Strategy

Date: Monday, December 7, 2009
Author: Press Release

State Street Global Advisors Launches US Community Investing Index Strategy

First Strategy to Track the US Community Investing Index

Boston—December 7, 2009—State Street Global Advisors, the investment management arm of State Street Corporation (NYSE: STT), today announced the launch of its US Community Investing Index strategy, the only offering that seeks to match the returns and characteristics of the US Community Investing IndexTM (USCII).

“We are pleased to be the exclusive provider of an investment strategy that tracks the US Community Investing Index,” said Arlene Rockefeller, executive vice president and Global Equities CIO at State Street Global Advisors. “The USCII’s composition and tight historical tracking to the S&P 500 make our new offering a compelling option for a wide range of institutional investors who are seeking a passively-managed environmental, social and governance (ESG)-related solution with low-cost implementation.”

The underlying investment approach for SSgA’s US Community Investing Index strategy is to buy and hold securities with the aim to minimize turnover and transaction costs, trading only when the composition of the Index changes or when cash flow activity occurs in the strategy.

Launched in 2005 by the F.B. Heron Foundation in collaboration with Innovest Strategic Value Advisors, the US Community Investing Index is comprised of more than 300 large- and mid-cap companies spanning all sectors that have demonstrated successful and proactive engagement with economically underserved populations in rural and urban communities in the United States. The USCII employs a methodology that positively evaluates the community investment and engagement performance of a broad universe of companies, using three main factors: strategic alignment, workforce development and wealth creation and community engagement and corporate philanthropy.

“By positively screening for companies with strong track records in community investing, the US Community Investing Index can be considered part of the second generation of the evolution of environmental, social and governance (ESG) investing ” said Luther M. Ragin, Jr., Chief Investment Officer, the F.B. Heron Foundation. “We are pleased to partner with State Street Global Advisors to deliver this unique and differentiated approach to community investing using marketable equities.”

SSgA has managed ESG assets for more than 20 years offering a broad framework of product solutions that encompasses different investment approaches such as sustainability investing, socially responsible investing or mission-related investing. As of September 30, 2009, SSgA manages more than $90 billion in ESG assets globally.

About State Street Global Advisors

State Street Global Advisors, the investment management arm of State Street Corporation (NYSE: STT), delivers investment strategies and integrated solutions to clients worldwide across every asset class, investment approach and style. With $1.7 trillion in assets under management at September 30, 2009, State Street Global Advisors has investment centers in Boston, Hong Kong, London, Montreal, Munich, Paris, Singapore, Sydney, Tokyo, Toronto and Zurich, and offices in 26 cities worldwide. For more information, visit State Street Global Advisors at

The US Community Investing Index is a trademark of The F.B. Heron Foundation and has been licensed for use by State Street Global Advisors. The strategy is not sponsored, endorsed, sold or promoted by F.B. Heron Foundation and F.B. Heron Foundation makes no representation regarding the advisability of investing in the Products.