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State Street Global Advisors makes ETF debut on Bats

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State Street Global Advisors (SSGA) has become the latest exchange traded fund provider on Bats with the listing of the SPDR DoubleLine Emerging Markets Fixed Income ETF (EMTL) and the SPDR DoubleLine Short Duration Total Return Tactical ETF (STOT).

The SPDR DoubleLine Short Duration Total Return Tactical ETF (STOT) seeks to maximise current income with a weighted average effective duration between one and three years. STOT is managed by Jeffrey Gundlach, chief executive officer and chief investment officer of DoubleLine Capital, Philip Barach, DoubleLine president and Jeffrey Sherman. The fund seeks to maximise total return over a full market cycle through active sector and security selection across a broad range of fixed income securities that could include issues or guarantees by the U.S. government, foreign and domestic corporate bonds, emerging market bonds and agency and non-agency mortgage backed securities. STOT has a gross expense ratio of 0.50 per cent and a net expense ratio of 0.45 per cent.

The SPDR DoubleLine Emerging Markets Fixed Income ETF (EMTL) seeks to provide high total return from current income and capital appreciation. EMTL is managed by Luz Padilla, director of DoubleLine’s International Markets Fixed Income Team, Mark Christensen and Su Fei Koo. The fund seeks to maintain a weighted average effective duration between two and eight years through active security selection that combines bottom-up research with sovereign macro overlays.

EMTL offers actively managed exposure to fixed income instruments from emerging market sovereign and corporate issuers, with no more than 20 per cent of assets allocated to a single country or in fixed income securities that are unrated or rated BB+ or Ba1 or lower. The SPDR DoubleLine Emerging Markets Fixed Income ETF has a gross expense ratio of 0.75 per cent and a net ratio of 0.65 per cent.

“We are excited State Street has entrusted Bats as the listing venue for these two new ETFs and we look forward to a strong partnership,” says Laura Morrison, Senior Vice President, Global Head of Exchange-Traded Products at Bats. “As a pioneer and thought leader in the ETF industry, State Street Global Advisors has been a pivotal force in the growth and development of the industry and helping investors reach their investment goals with their innovative products and services.”

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