State Street Global Advisors (SSgA), the asset management business of State Street Corporation (NYSE: STT) today launched the SPDR S&P 500 ETF on the Australian Securities Exchange (ASX).
SPDR S&P 500 ETF (ASX: SPY) aims to provide investment results corresponding to the price and yield performance of the S&P 500 Index. With more than US$172 billion in assets under management and 82 million shares traded daily (see note 1), the SPDR S&P 500 ETF is recognised as 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,” said 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,” continued Crafter.
SPDR S&P 500 ETF has been used by some of the world’s leading investors for more than 20 years. It 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,” said 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.”
In 2001, SSgA created the first ETF in Australia with the SPDR S&P/ASX 200 Fund (STW) which seeks to closely match, before fees and expenses, the returns of the S&P/ASX 200 Index. More than a dozen funds have been made available for trading on the ASX since its introduction to the market. Fund details for all SPDR ETF offerings in Australia including SPDR S&P 500 ETF are available at www.spdrs.com.au.
Notes
1 Source: Bloomberg as of 31 August 2014
About SPDR® ETFs
Offered by State Street Global Advisors, SPDR ETFs are a family of exchange traded funds that provide investors with the flexibility to select investments that are precisely aligned to their investment strategy. Recognised as an industry pioneer, State Street Global Advisors created the first ever ETF in 1993 – the SPDR S&P 500®, which is currently the world’s largest ETF.
About State Street Corporation
State Street Corporation (NYSE: STT) is one of the world’s leading providers of financial services to institutional investors including investment servicing, investment management and investment research and trading. With $28.4 trillion in assets under custody and administration and $2.48 trillion* in assets under management* as of June 30, 2014, State Street operates in more than 100 geographic markets worldwide, including the US, Canada, Europe, the Middle East and Asia. For more information, visit State Street’s web site at www.statestreet.com.
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