BOSTON State Street Global Advisors created its first exchange-traded funds for sale in Europe.
The five funds are to invest in European sectors such as information technology, telecommunications, and health care and will be traded on the London Stock Exchange.
The categories are based on Morgan Stanleys European regional and sector indexes. State Street has entered into a licensing agreement with Morgan Stanley Capital International Inc. to use the indexes.
In the U.S., State Street manages $31 billion in 22 exchange-traded funds.