State Street Global Advisors (SSgA), the asset management business of State Street Corporation, has launched the SPDR S&P 500 ETF on the Australian Securities Exchange (ASX).
SPDR S&P 500 ETF (SPY) aims to provide investment results corresponding to the price and yield performance of the S&P 500 Index.
With more than USD172 billion in assets under management and 82 million shares traded daily, the SPDR S&P 500 ETF is the world's largest and most traded ETF.
"We are delighted to be making the SPDR S&P 500 ETF available for Australian investors via the ASX," says Lochiel Crafter, head of State Street Global Advisors for Asia Pacific. "Australian investors looking to diversify their portfolios by accessing top international companies can now do so through one of the most cost-effective, reliable and liquid investment vehicles in the Australian market.”
SPDR S&P 500 ETF provides investors with instant access to a portfolio of more than 500 US companies. Its largest holdings include Apple, Microsoft, Johnson & Johnson and General Electric.
"The introduction of the largest ETF in the world to the ASX marks a milestone in the evolution of the Australian ETF industry, with SPDR ETFs at the forefront," says Amanda Skelly, head of SPDR ETFs for State Street Global Advisors. "It also signifies SSgA's commitment to the growth of the ETF market in Australia, and our belief that ETFs are a valuable addition to investors' portfolios.
"As opportunities in Australia become harder to find, local investors need to be thinking globally about how to grow their assets in order to secure a comfortable retirement. SPDR ETFs are an ideal vehicle to access international markets, sectors and geographies while providing sustainable and diversified growth and income streams."