State Street Named Servicing Provider for Avantis Investors’ Inaugural ETFs
November 13 2019 - 10:00AM
Business Wire
Firm Also Recognized as the Recipient of Several Notable ETF
Servicing Awards
State Street Corporation (NYSE: STT) today announced that it has
been appointed by Avantis Investors, a new unit within American
Century Investments, to provide a range of broad ETF services for
its five newly launched low-cost funds. Services will include
basket creation, custody, accounting, transfer agency and fund
administration.
Avantis Investors offers active investment strategies for
investors in mutual fund and ETF formats. The five funds, launched
in late September on NYSE Arca, are:
- Avantis U.S. Equity ETF (AVUS)
- Avantis International Equity ETF (AVDE)
- Avantis Emerging Markets Equity ETF (AVEM)
- Avantis U.S. Small Cap Value ETF (AVUV)
- Avantis International Small Cap Value ETF (AVDV)
The five ETFs have had a very fast start, amassing more than
$400 million in total assets through the end of October.
“Our agreement with Avantis Investors underscores the scale and
expertise of our ETF team and the power of our ETF servicing
technology,” said Frank Koudelka, senior vice president &
global ETF product specialist at State Street. “Our top priority is
to provide strategic advice and partnership to our clients and we
couldn’t be more excited to work with Avantis on their suite of
low-cost ETFs.”
“Our goal is to provide investors with active, transparent ETFs
that are low cost and can help an individual meet their financial
goals,” said Eduardo Repetto, Chief Investment Officer of Avantis
Investors.
“We are very pleased to extend our relationship with State
Street and their experienced ETF servicing team to bring these
strategies to market,” commented Ed Rosenberg, Senior Vice
President and Head of Exchange Traded Funds.
State Street also announced recently that its ETF servicing
business has been recognized as the Best ETF Custody Provider and
the Best ETF Fund Administrator at the 2019 ETF Express USA awards.
Additionally, State Street was named Best ETF Administrator at the
2019 Fund Intelligence Operations and Services Awards earlier this
month, which recognize outstanding contributions made by business,
operations and technology leaders at asset management and service
provider firms.
About State Street Corporation
State Street Corporation (NYSE: STT) is the world's leading
provider of financial services to institutional investors including
investment servicing, investment management and investment research
and trading. With $32.90 trillion in assets under custody and
administration and $2.95 trillion* in assets under management as of
September 30, 2019, State Street operates globally in more than 100
geographic markets and employs approximately 40,000 worldwide. For
more information, visit State Street's website at
www.statestreet.com.
* Assets under management include the assets of the SPDR® Gold
ETF and the SPDR® Long Dollar Gold Trust ETF (approximately $44
billion as of September 30, 2019), for which State Street Global
Advisors Funds Distributors, LLC (SSGA FD) serves as marketing
agent; SSGA FD and State Street Global Advisors are affiliated.
State Street Corporation One Lincoln Street, Boston, MA
02111-2900.
© 2019 State Street Corporation - All Rights Reserved
Expiration Date: 11/30/2020
2816056.1.1.AM.RTL
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version on businesswire.com: https://www.businesswire.com/news/home/20191113005524/en/
Brendan Paul +1 401 644 9182 Bpaul2@statestreet.com
@StateStreet
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