The ‘SPY’ kids with $250 Billion riding on their lives
By Bloomberg
13 August 2019 |
1:40 pm
The fate of the world’s largest exchange-traded fund rests on the health of a group of twenty-somethings. Thanks to a quirk in the legal structure used to set up the SPDR S&P 500 ETF Trust, known as SPY, more than $250 billion rests on the longevity of 11 ordinary kids born between May 1990 and January 1993.
Related
Related
2 days ago
The German government revised its economic growth forecast for 2024 marginally from 0.2% to 0.3%, Economy Minister Robert Habeck confirmed on Wednesday afternoon.
1 day ago
Private sector players are urging the Nigerian government to suspend the increase in electricity tariff for band A customers, citing the recent appreciation of the naira, a part of the determining factor for the tariff. Segun Ajayi-Kadir, Director General of the Manufacturers Association of Nigeria, joins CNBC Africa for this and more.
1 day ago
Boeing said Wednesday that it lost $355 million on falling revenue in the first quarter, another sign of the crisis gripping the aircraft manufacturer as it faces increasing scrutiny over the safety of its planes and accusations of shoddy work from a growing number of whistleblowers.
Latest
54 mins ago
Some 16,700 Filipino and US troops began annual joint military exercises in the Philippines on Monday, amid tensions with China over Beijing's growing assertiveness in the region.
1 hour ago
Chinese President Xi Jinping said the US and China should be "partners, not rivals," as a series of issues, including Chinese aid for Russia in its war against Ukraine, continue to separate the countries.
1 hour ago
In India's 2024 election, half of the registered voters are women. Yet only a small percentage of them are running for office. In this video, we explore why are there so few female politicians.
3 hours ago
El Nino is causing extreme weather events in East Africa and a crippling drought in the south of the continent. Experts say immediate action is needed to tackle famine and displacements.
3 hours ago
Tino Chrupalla, co-chair of Germany's far-right populist Alternative for Germany (AfD) party was the main guest in a Sunday evening political TV show on public channel ARD on Sunday. He got plenty of space to present himself as friendly and well-meaning, denying any knowledge of leading AfD politicians being on Russia's payroll, of racism and misogyny in his own party.
×
Get the latest news delivered straight to your inbox every day of the week. Stay informed with the Guardian’s leading coverage of Nigerian and world news, business, technology and sports.
0 Comments
We will review and take appropriate action.