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SSGA reduces fees on 15 SPDR ETFs in Europe

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State Street Global Advisors (SSGA) is reducing the fees across 15 of its core equity and fixed income exchange-traded funds (ETFs) in Europe.

SSGA has also proposed the merger of ETF funds onto one platform in order to match the needs of the maturing European ETF investment market.
 
The reduction in fees will result in investors, on average, paying 20 per cent less across the 15 core equity and fixed income ETFs with the largest reduction being made on the SPDR S&P 500, down from 15 basis points to nine basis points as of 1 October 2014.
 
SSGA has also proposed a merger of its 13 French domiciled ETFs onto a single, centralised structure in Ireland and will issue and settle via an international central securities depository (ICSD) through Euroclear.
 
Alexis Marinof, head of SPDR ETFs for Europe, Middle East and Africa (EMEA), says: “In recent times, we have seen the popularity of ETFs as an asset class increase considerably, moving into the mainstream investment arena as a result of the changing needs of investors in the current economic environment. 
 
“Our objective is to be at the forefront of change and innovation in the ETF market and use our wealth of expertise and experience in this industry to add value to our clients. The changes are aimed at providing our clients with an enhanced offering that matches their needs as well as the needs of a maturing European marketplace.” 

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