Super drives State Street inflows
Reflecting the continued buoyancy of the local market, State Street Global Advisors (SSgA)has announced that its Global Index Plus strategy has now reached more than $10 billion in locally-sourced assets under management.
SSgA’s Australian managing director Rob Goodlad said the strong inflows reflected the push by Australian and New Zealand superannuation funds to achieve better performance from their ‘beta’ or passively managed portfolios.
SSgA’s Global Index Plus Trust was launched in 2000 and is now the largest co-mingled fund offered by SSgA in Australia.
Goodlad said a number of local funds had invested in the strategy by moving assets from ‘vanilla’ index strategies, with more than $1.5 billion moving across into the strategy over the past six months.
AUTHOR
Mike Taylor
Recommended for you
The director of Ascent Investment and Coaching, Michael Dunjey, has been charged with 33 criminal offences.
Adviser Ratings’ latest financial landscape report finds there is a demographic of advice practices achieving an average revenue of $5 million, with only 3 per cent of practices overall seeing a revenue decline.
The FAAA is calling for regulators to take a partnership approach with financial advisers regarding incoming legislation, rather than treating the industry as “guinea pigs”.
There have been strong numbers of returning advisers this year so far, according to Wealth Data, already surpassing the same period for 2024.
