The company services financial clients by creating and managing investment strategies for governments, corporations, endowments, non-profit foundations, corporate treasurers and CFOs, asset managers, financial advisors and other intermediaries around the world.[5] SSGA employs 2,500 people in 28 countries.
History
State Street Global Advisors, the asset management division of State Street Corporation, was founded in 1978[6] in Boston, Massachusetts.
Its first three products were a domestic index fund, an international index fund (based on the MSCI EAFE index), and a short-term investment fund.[7] By 1989 the division had $53 billion (USD) in assets under management.
In 1990 State Street Global Advisors was formed as a separate entity from State Street Bank[8] with the mission of expanding globally:[6] first London, 10 more international locations by 1994,[9] with 15 by 1999.[10]
Assets under management climbed to $161 billion (USD) in 1994 and more than quadrupled to $667 billion by 1999.
As of 2006, one-third of assets under management were from non-US investors.
In 2003, State Street Global Advisors' Boston office moved to the newly completed State Street Financial Center building at One Lincoln Street.[13]
State Street Global Advisors launched the first foreign real estate ETF in 2006 (Ticker: NYSE Arca:RWX),[14] which provides investors in the US an easy way to access the international housing and commercial development markets.
In January 2011, State Street Global Advisors completed its acquisition of Bank of Ireland Asset Management (BIAM). The acquisition was first announced in October 2010 for approximately €57 million.[15] State Street Global Advisors's presence in Ireland, which began 1996, had by 2010 grown to "more than 2,000 local employees."[16]
State Street Global Advisors is among the signatories of the "Principles for a Responsible Civilian Firearms Industry," which seeks to engage firearms manufacturers, dealers, and retailers in promoting gun safety.[17][18][19]
Fearless Girl
For March 2017, State Street Global Advisors commissioned a statue, Fearless Girl by Kristen Visbal, and located it temporarily in the Financial District, Manhattan, in front of the Wall Street icon Charging Bull. The statue is an advertisement for an index fund which comprises gender diverse companies that have a higher percentage of women among their senior leadership.[20] While some have seen it as an encouragement of women in business, some women criticized the statue as "corporate feminism" that violated their own feminist principles.[21][22][23]
Products and services
SSGA creates customized investment strategies for institutions.[24] SSGA manages the assets for clients by setting up commingled funds (otherwise known as common trust funds).
In addition to institutional products, SSGA has 46 ETF investment products in the US market,[25] as of March 2007. The ETFs track international and domestic indices based on market capitalization, investment style, sector, industry, or commodity. ETF products are also available in other parts of the world such as Belgium, France, Hong Kong, and Singapore under the streetTracks brand.[citation needed]
SSGA has 26 Mutual Fund products divided by investment type:[26] money markets, bonds, equities, and diversified funds of funds (also known as life style funds).
SSGA partners with seven companies in various markets to produce local investment strategies for clients.[27] They are Advanced Investment Partners; Asian Direct Capital Management; GovernanceMetrics International (GMI); Innovest Strategic Value Advisors, Inc.; Rexiter Capital Management Limited; Shott Capital Management, LLC; SSARIS Advisors, LLC; The Tuckerman Group, LLC; and Wilton Asset Management, LLC.
Lawsuits
In October 2007, several pension funds sued State Street Corp. for the alleged mishandling of several bond funds managed by SSGA.[28]
In 2008, State Street Bank was sued by Trust Co. for Fixed Income Funds Investment.[29] The case was settled in 2010.[30]
In April 2009, a class action suit was filed against State Street, alleging SSGA chose illiquid, leveraged, and risky securities in their short-term, liquid fund products.[31]
In October 2017, SSGA agreed to pay over $5 million in back pay and interest to settle allegations the company underpaid women and African-American employees.[32][33]
↑ "State Street chief takes aim at the cost of servicing". Financial Times. February 4, 2018. Archived from the original on 2022-12-11. ... says activities will move to front office. ... previously chief executive of State Street Global Advisors, the bank's investment arm, which is the world's third-biggest fund manager by assets.
1 2 "State Street Global Advisors: Mend It, Don't End It". April 17, 2012. State Street Global Advisors was founded in 1978 as the investment management division of State Street Bank and Trust. The firm was a pioneer in the development of domestic and international index funds. In 1990, it was reorganized as a separately incorporated subsidiary of State Street.
Passive management is an investing strategy that tracks a market-weighted index or portfolio. Passive management is most common on the equity market, where index funds track a stock market index, but it is becoming more common in other investment types, including bonds, commodities and hedge funds.
State Street Corporation is an American financial services and bank holding company headquartered at One Congress Street in Boston with operations worldwide. It is the second-oldest continually operating United States bank; its predecessor, Union Bank, was founded in 1792. State Street is ranked 15th on the list of largest banks in the United States by assets. It is one of the largest asset management companies in the world with US$3.9 trillion under management and US$43.3 trillion under custody and administration. It is the largest custodian bank in the world, providing securities services and it is considered a systemically important bank by the Financial Stability Board. Along with BlackRock and Vanguard, State Street is considered to be one of the Big Three index fund managers that dominate corporate America.
An exchange-traded fund (ETF) is a type of investment fund and exchange-traded product, i.e. they are traded on stock exchanges.
The Vanguard Group, Inc. is an American registered investment advisor based in Malvern, Pennsylvania, with about $7.7 trillion in global assets under management, as of April 2023. It is the largest provider of mutual funds and the second-largest provider of exchange-traded funds (ETFs) in the world after BlackRock's iShares. In addition to mutual funds and ETFs, Vanguard offers brokerage services, educational account services, financial planning, asset management, and trust services. Several mutual funds managed by Vanguard are ranked at the top of the list of US mutual funds by assets under management. Along with BlackRock and State Street, Vanguard is considered to be one of the Big Three index fund managers that play a dominant role in corporate America.
BlackRock, Inc. is an American multinational investment company based in New York City. Founded in 1988, initially as an enterprise risk management and fixed income institutional asset manager, BlackRock is the world's largest asset manager, with US$8.59trillion in assets under management as of December 31, 2022. BlackRock operates globally with 70 offices in 30 countries, and clients in 100 countries. BlackRock is the manager of the iShares group of exchange-traded funds, and along with The Vanguard Group and State Street, it is considered to be one of the Big Three index fund managers. Its Aladdin software keeps track of investment portfolios for many major financial institutions and its BlackRock Solutions division provides financial risk management services. BlackRock is ranked 184th on the Fortune 500 list of the largest United States corporations by revenue.
In finance, assets under management (AUM), sometimes called fund under management, measures the total market value of all the financial assets which an individual or financial institution—such as a mutual fund, venture capital firm, or depository institution—or a decentralized network protocol controls, typically on behalf of a client. Funds may be managed for clients, platform users, or solely for themselves, such as in the case of a financial institution which has mutual funds or holds its own venture capital. The definition and formula for calculating AUM may differ from one entity to another.
iShares is a collection of exchange-traded funds (ETFs) managed by BlackRock, which acquired the brand and business from Barclays in 2009. The first iShares ETFs were known as World Equity Benchmark Shares (WEBS) but have since been rebranded.
Gold exchange-traded products are exchange-traded funds (ETFs), closed-end funds (CEFs) and exchange-traded notes (ETNs) that are used to own gold as an investment. Gold exchange-traded products are traded on the major stock exchanges including the SIX Swiss Exchange, the Bombay Stock Exchange, the London Stock Exchange, the Paris Bourse, and the New York Stock Exchange. Each gold ETF, ETN, and CEF has a different structure outlined in its prospectus. Some such instruments do not necessarily hold physical gold. For example, gold ETNs generally track the price of gold using derivatives.
SPDR funds are a family of exchange-traded funds (ETFs) traded in the United States, Europe, Mexico and Asia-Pacific and managed by State Street Global Advisors (SSGA). Informally, they are also known as Spyders or Spiders. SPDR is a trademark of Standard and Poor's Financial Services LLC, a subsidiary of S&P Global. The name is an acronym for the first member of the family, the Standard & Poor's Depositary Receipts, now the SPDR S&P 500 Trust ETF, which is designed to track the S&P 500 stock market index.
Amundi is a French asset management company. With €2 trillion of assets under management (AUM) at the end of 2021, it is the largest asset manager in Europe and one of the 10 biggest investment managers in the world.
Lee Thomas Kranefuss is an American businessman, investment manager, corporate adviser, and entrepreneur.
SPDR Gold Shares is part of the SPDR family of exchange-traded funds (ETFs) managed and marketed by State Street Global Advisors. For a few years, the fund was the second-largest exchange-traded fund in the world, and it was briefly the largest. As of the close of 2014, it dropped out of the top ten.
Betashares is an Australian provider of exchange-traded funds (ETFs) and other ASX-traded funds. The company introduced a range of products into the Australian ETF landscape, including Australia's first currency hedged ETF, Australia's first range of commodity ETFs, Australia's first range of currency ETFs, Australia's first ETF using fundamentally based indexes and a range of short exchange traded products. Betashares is based in Sydney, Australia with offices in Melbourne and Brisbane.
The SPDR S&P 500 ETF trust is an exchange-traded fund which trades on the NYSE Arca under the symbol SPY. SPDR is an acronym for the Standard & Poor's Depositary Receipts, the former name of the ETF. It is designed to track the S&P 500 stock market index. This fund is the largest and oldest ETF in the world. SPDR is a trademark of Standard and Poor's Financial Services LLC, a subsidiary of S&P Global. The ETF's CUSIP is 78462F103 and its ISIN is US78462F1030. The trustee of the SPDR S&P 500 ETF Trust is State Street Bank and Trust Company. The fund has a net expense ratio of 0.0945%. The value of one share of the ETF is worth approximately 1/10 of the cash S&P 500's current level. On December 1, 2021, the 30-Day average daily volume range for the past 5 years was 82.45 million shares, making it the ETF with the largest trading volume. The sponsor is SPDR Services LLC, a wholly owned subsidiary of American Stock Exchange LLC. Dividends are distributed quarterly, and are based on the accumulated stock dividends held in trust, less any expenses of the trust. The trust seeks to provide investment results that, before expenses, correspond generally to the price and yield performance of the S&P 500 index.
Real Assets is an investment asset class that covers investments in physical assets such as real estate, energy, and infrastructure. Real assets have an inherent physical worth. Real assets differ from financial assets in that financial assets get their value from a contractual right and are typically intangible.
The NEO Exchange, now operating as Cboe Canada, is a stock exchange providing a listing of companies and ETFs. Cboe Canada is part of the Cboe Global Markets network, based in Toronto.
Fearless Girl is a bronze sculpture by Kristen Visbal, on Broad Street across from the New York Stock Exchange Building in the Financial District of Manhattan in New York City. The statue was installed on March 7, 2017, in anticipation of International Women's Day the following day. It depicts a 4-foot high (1.2 m) girl promoting female empowerment.
Hayne Leland is an economist and professor emeritus at the University of California, Berkeley. Prior to becoming emeritus, he was the Arno Rayner Professor of Finance at the Haas School of Business. Before joining Berkeley, Leland was an assistant professor in economics at Stanford University, and he has held visiting professorships at the University of California, Los Angeles and the University of Cambridge. He received his A.B. from Harvard College, followed by an M.Sc.(Econ) at the London School of Economics and a Ph.D. in economics from Harvard. He received an honorary doctorate degree from the University of Paris (Dauphine) in 2007.
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US$3.6 trillion (March 31, 2023)
US$37.6 billion (March 31, 2023) [1] 
