MBNE combines advantages of federal tax-free income from
municipal bonds with active management and ESG criteria
State Street Global Advisors, the asset management business of
State Street Corporation (NYSE: STT), today announced the launch of
the SPDR Nuveen Municipal Bond ESG ETF (MBNE). Sub-advised by
Nuveen, a recognized leader in the municipal bond market, MBNE is
actively managed and is designed to invest in municipal securities
from issuers that are leaders in their sector in delivering
environmental, social and governance (ESG) outcomes or whose
proceeds are used towards positive environmental or social
projects.
“The prospect of higher taxes coupled with rising uncertainty
surrounding future interest rate hikes have increased demand for
actively managed municipal bond ETFs,” said Brie Williams, head of
practice management at State Street Global Advisors. “At the same
time demand for municipal bond exposure is growing, investors are
increasingly looking beyond equities for ESG exposure, which is why
we’re excited about the expansion of our SPDR ETF municipal bond
lineup and the partnership we’ve built with Nuveen to launch
MBNE.”
With over seven decades of collective experience investing in
municipal bonds, Tim Ryan, Shawn O’Leary and David Blair will
leverage Nuveen’s proprietary ESG Municipal Bond Scoring Tool to
select bonds from issuers that are leaders in environmental
stewardship, strong governance and positive social outcomes. The
strategy will primarily consist of investment-grade, tax-exempt
municipal securities ranging from 2 to 17 years in maturity issued
by U.S. municipalities. To identify potential municipal bonds for
investment, Nuveen utilizes a value-oriented strategy which is
designed to identify higher-yielding and undervalued municipal
bonds that offer above-average total return potential.
“As investors become more familiar with ESG-integrated
strategies, Nuveen has created a proprietary framework that is
designed to identify the municipal bond issuers that support income
generation for investors and achieve positive ESG outcomes in their
communities,” said Tim Ryan, municipal portfolio manager at Nuveen.
“The fund is also designed to provide exposure to bonds whose
proceeds are used towards positive environmental or social projects
addressing critical issues including climate change, environmental
degradation, inequality, poverty, and justice and are aligned with
the UN Sustainable Development Goals.”
SSGA Funds Management, Inc. serves as investment adviser to MBNE
and Nuveen Asset Management, LLC serves as investment sub-adviser
to MBNE.
For more information on the SPDR Nuveen Municipal Bond ESG ETF,
visit www.ssga.com/etfs.
About SPDR Exchange Traded Funds
SPDR ETFs are a comprehensive family spanning an array of
international and domestic asset classes. SPDR ETFs are sponsored
by affiliates of State Street Global Advisors. The funds provide
investors with the flexibility to select investments that are
aligned to their investment strategy. For more information, visit
www.ssga.com/etfs
About State Street Global Advisors
State Street Global Advisors serves governments, institutions
and financial advisors with a rigorous approach, breadth of
capabilities and belief that good stewardship is good investing for
the long term. Pioneers in index, ETF, and ESG investing and the
world’s fourth-largest asset manager*, we are always inventing new
ways to invest.
*Pensions & Investments Research Center, as of 12/31/20.
About Nuveen
Nuveen, the investment manager of TIAA, offers a comprehensive
range of outcome-focused investment solutions designed to secure
the long-term financial goals of institutional and individual
investors. Nuveen has $1.3 trillion in assets under management as
of 31 Dec 2021 and operations in 27 countries. Its investment
specialists offer deep expertise across a comprehensive range of
traditional and alternative investments through a wide array of
vehicles and customized strategies. For more information, please
visit www.nuveen.com.
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Deborah Heindel +1 617 662 9927 DHEINDEL@StateStreet.com E-Soo
Kim +1 212 207 2012 E-Soo.Kim@nuveen.com
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