State Street Global Advisors, the investment management arm of State Street Corporation, has launched 10 new SPDR exchange-traded funds on the American Stock Exchange, bringing the firm’s
State Street Global Advisors, the investment management arm of State Street Corporation, has launched 10 new SPDR exchange-traded funds on the American Stock Exchange, bringing the firm’s roster of ETFs to 80, including 31 that provide access to markets outside the US.
The 10 new international sector ETFs are designed to offer investors a complete suite of tools to access to investment opportunities outside the US benchmarked to a series of the S&P indices, The funds are market capitalisation-weighted and use the Global Industry Classification Standard.
‘Developed in response to demand from investors seeking targeted exposure to sectors that do not include US-listed securities, our international sector SPDR ETFs offer the opportunity to make precise, cost-effective tactical and strategic allocations that can help manage portfolio risk and improve returns,’ says James Ross, a senior managing director at State Street Global Advisors.
‘Having launched the industry’s first sector ETFs in 1998, we are pleased to enhance our family of international ETFs with the addition of these new international investment tools.’
The new ETFs are the SPDR S&P International Consumer Discretionary Sector ETF, International Consumer Staples Sector ETF, International Financial Sector ETF, International Health Care Sector ETF, International Industrial Sector ETF, International Materials Sector ETF, International Technology Sector ETF, International Telecommunications Sector ETF, International Utilities Sector ETF and International Energy Sector ETF.
State Street Global Advisors is one of the largest ETF providers in the US, with more than USD138.5bn in assets at the end of June, up from USD102.1bn a year earlier. The business has a total of USD1.9trn in assets under management and investment centres in Boston, Hong Kong, London, Montreal, Munich, Paris, Singapore, Sydney, Tokyo, Toronto and Zurich.