MutualFundWire.com: A $4.37T-AUC AM SPINs Up 3 More ETFs

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Thursday, September 5, 2024

A $4.37T-AUC AM SPINs Up 3 More ETFs

The team at a publicly traded firm's $4.37-trillion-AUC (as of June 30) asset management unit is adding three more ETFs to their $1.394-billion-AUM ETF business.

Anna Paglia
State Streeet Global Advisors
Executive Vice President, Chief Business Officer

This morning, Anna Paglia, chief business officer at State Street Corporation's State Street Global Advisors (SSGA [profile]), unveiled the launch of the SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF (CERY on the NYSE Arca), the SPDR S&P Emerging Markets ex-China ETF (XCNY on the Nasdaq), and the SPDR SSGA US Equity Premium Income ETF (SPIN on the Cboe BZX). SSGA Funds Management, Inc. (SSGA FM) serves as administrator and investment advisor to all three new funds.

The inception date for CERY, SPIN, and XCNY was yesterday (Wednesday, September 4). XCNY comes with an expense ratio of 15 basis points, SPIN's expense ratio is 25bps, and CERY's expense ratio is 28bps. As of yesterday, CERY had $2.5 million in AUM, SPIN had $3 million, and XCNY had $5 million.

XCNY is a passively managed series of SPDR Index Shares Funds. The new ETF's PM team includes: Thomas Coleman, vice president and senior portfolio manager in SSGA's global equity beta solutons group (GEBS); and Kathleen Morgan, VP and senior PM in GEBS. Bloomberg Index Services Limited serves as index provider to GEBS, and the fund is designed to track the Bloomberg Enhanced Roll Yield Total Return Index.

SPIN is an actively managed series of SSGA Active Trust. The new ETF's PM team includes: Juan Acevedo, VP and senior PM in GEBS; Emiliano Rabinovich, managing director and senior PM in GEBS; and Chris Sierakowski, managing director and PM in SSGA's fundamental growth and core U.S. equity group.

CERY is a passively managed series of SPDR Series Trust. The new fund's PM team includes: Amy Cheng, vice president and senior PM in GEBS; Kala O'Donnell, VP and senior PM in GEBS; and Karl Schneider, managing director and head of traditional beta strategies for GEBS in the Americas.

Paglia describes the three new ETFs as "developed to expand the range of investment options that can be expressed by clients who are looking for innovative tools to fine-tune their portfolios and better meet their investment objectives."

"As investors increasingly turn to ETFs to optimize their portfolios, we're excited to be expanding our SPDR ETF offering to help them create better outcomes," Paglia states.

CERY, SPIN, and XCNY's other service providers include: Ernst & Young LLP as independent accounting firm; Morgan, Lewis & Bockus LLP as counsel; State Street Bank and Trust Company as custodian, securities lending agent, sub-administrator, and transfer agent; and State Street Global Advisors Funds Distributors, LLC (SSGA FD) as distributor.

Printed from: MFWire.com/story.asp?s=67872

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