State Street buys exclusive S&P ETF licence
State Street Global Advisors (SSgA) has announced that it has acquired an exclusive licence from Standard & Poor’s (S&P) to list and trade SPDR exchange traded funds (ETFs) based upon the S&P/ASX 200.
The licence with S&P means SSgA has the right to offer an ETF product replicating Australia’s benchmark index of the country’s top 200 listed companies.
The SPDR S&P/ASX 200 had more than $2.17 billion in funds under management (FUM) at May 31, accounting for more than 65 per cent of total ETF assets offered in Australia.
Total FUM of all ETFs listed on the ASX soared by more than 97 per cent to $3.27 billion by the end of May, compared with $1.66 billion in May 2009, according to the ASX’s latest monthly update on listed managed investments.
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