State Street Global Advisors plans to expand its lineup of exchange-traded funds.
The Boston investment management unit of State Street Corp. said Wednesday that it has filed an exemptive relief application with the Securities and Exchange Commission that would allow it to develop a series of actively managed, target-date exchange traded funds.
The new SPDR funds would invest in a sampling of equity and fixed-income exchange-traded funds that will seek to deliver risk-adjusted returns through a multi asset class investment strategy, the unit said.
James Ross, a senior managing director at State Street Corp., said in a press release that it is developing the funds to "meet increasing demand among our clients."
State Street managed more than $171 billion of exchange-traded fund assets as of Dec. 31. State Street Global Advisors had $2 trillion of assets under management and has investment centers in Boston, Hong Kong, London, Milan, Montreal, Munich, Paris, Singapore, Sydney, Tokyo, Zurich, and 25 other cities.
