State Street reduces fees on flagship equity funds
State Street has reduced the fees on its flagship Australian and global equity funds in order to best offer value to investors.
The new management fee on the Australian Equity fund had reduced from 0.79% to 0.70% per annum while the Global Equity fund reduced from 0.98% to 0.85%.
Both of these funds seek to deliver strong total returns while managing total risk which State Street said was “especially relevant” in the current market environment.
According to FE Analytics, within the Australian Core Strategies universe, the Australian Equity fund lost 4.8% over one year to 30 July versus losses of 5.8% by the Australian equity sector.
The Global Equity fund lost 6.3% over the same period versus returns of 1.5% by the global equity sector.
Performance of State Street Australian Equity and Global Equity funds versus Australian equity and global equity sector over one year to 30 June, 2020
AUTHOR
Laura Dew
Recommended for you
Australian fund managers are actively seeking to launch Cayman versions of their funds to attract offshore flows, with Regal Partners set to launch its latest offering this month.
As private markets gain traction in Australia but only a limited pool of talent is available, three recruiters explore whether fund managers should consider looking overseas to find top talent.
With an explosion of private credit managers appearing in the market, two alternatives experts believe a consolidation is needed to maintain the quality of the sector.
Bentham Asset Management has become the latest fund manager to expand its distribution team as it reports increased interest in its credit strategies.
