State Street cuts fees on 6 ETFs
State Street will cut fees on six of its SPDR ETFs from 1 July.
The fee cuts affect ETFs in Australian equities, international equities, listed property and emerging markets.
| ETF name | Old fee | New fee |
| SPDR® S&P® World ex Australia Carbon Control Fund | 0.18 | 0.07 |
| SPDR® S&P® World ex Australia Carbon Control (Hedged) Fund | 0.21 | 0.10 |
| SPDR® S&P®/ASX 50 Fund | 0.28 | 0.20 |
| SPDR® Dow Jones® Global Real Estate ESG Fund | 0.50 | 0.20 |
| SPDR® S&P®/ASX 200 Listed Property Fund | 0.40 | 0.16 |
| SPDR® S&P® Emerging Markets Carbon Control Fund | 0.65 | 0.35 |
Source: State Street, June 2024
The SPDR® S&P®/ASX 50 Fund was among the first ETFs launched in Australia back in 2001, alongside the SPDR® S&P®/ASX 200 Fund, and is now $803 million in assets under management.
Meaghan Victor, head of intermediary for Asia Pacific at State Street Global Advisors, said: “Today’s announcement makes investing in ETFs more affordable for a broad range of investors, from those just starting out to the more experienced seeking more from their core portfolio.
“As the core is typically the largest part of a portfolio, it is important to use cost-effective solutions over the long term. When constructing a portfolio, investors shouldn’t consider the fee of one ETF in isolation. With a number of our core exposures to be priced at 10 basis points or less, investors will have greater choice when constructing a cost-effective diversified portfolio.
“These fee changes demonstrate our commitment to the democratisation of investing by delivering cost-effective institutional quality investment solutions to all investors.”
The firm previously announced cuts to six other ETFs in November: SPDR S&P/ASX 200, SPDR S&P/ASX 200 ESG, SPDR MSCI Australia Select High Dividend Yield, SPDR S&P Global Dividend, SPDR MSCI World Quality Mix, and SPDR S&P/ASX Australian Government Bond.
AUTHOR
Laura Dew
Recommended for you
Dubious marketing strategies involving financial advisers are among reasons that research house SQM Research has put the private credit space on alert.
New Platinum International portfolio manager Ted Alexander has told its retail and wholesale investors how he plans to improve the $4.4 billion fund's performance while the firm is also exploring new fee structures.
Industry commentators are divided about Australia’s appeal for ETF launches by overseas fund managers, with some viewing it as a gateway to Asia-Pacific while others are valuing its unique characteristics.
As private credit funds face further scrutiny, a Perpetual portfolio manager has highlighted key questions for investors to ask when considering these investments.
