State Street Appointed Service Provider for Neuberger Berman’s First Actively Managed Thematic ETFs
May 05 2022 - 9:30AM
Business Wire
State Street and Neuberger Berman have partnered closely to
prepare for the launch of Neuberger Berman’s initial series of
Active ETFs
State Street Corporation (NYSE: STT) today announced that it has
been appointed service provider by Neuberger Berman for the firm’s
first actively managed exchange traded funds (ETFs). As part of the
appointment, State Street is providing ETF basket services,
custody, fund accounting, fund administration, order-taking and
transfer agency services.
Neuberger Berman launched its first actively managed ETFs in
April 2022. The three new ETFs will invest in companies related to
the following distinct thematic megatrends: technology disruption,
digitally connected consumers, and infrastructure-enabling
decarbonization. Managed by Neuberger Berman, the ETFs are an
extension of the firm’s thematic equity investment capabilities
utilizing traditional fundamental equity research along with
alternative data capabilities and consideration of material
Environmental, Social and Governance (ESG) factors.
The funds are listed on the New York Stock Exchange as:
- Neuberger Berman Connected Consumer ETF (NBCC)
- Neuberger Berman Carbon Transition & Infrastructure ETF
(NBCT)
- Neuberger Berman Disrupters ETF (NBDS)
“It’s been tremendously rewarding to be working with Neuberger
Berman on the launch of their first active ETFs,” said Frank
Koudelka, global ETF product specialist at State Street. “Our team
has a long history and strong relationship with Neuberger Berman.
We are very pleased to see our partnership -- which focused on a
consultative and educational approach – provided a foundation for
their first move into active ETFs.”
“Neuberger Berman is pleased to be working alongside State
Street, a consultative leader in the ETF industry, for the launch
of these investment strategies,” said Patrick Lomelo, Global Head
of Operations at Neuberger Berman. “Their impressive track record
with ETFs made them the right partner as our firm enters this
important new market.”
State Street continues to be an industry leader servicing over
$6.1 trillion in ETF assets, which is close to 60% of global ETF
AUM. Additionally, State Street services close to 70% of ETF AUM in
the United States.i
About State Street Corporation
State Street Corporation (NYSE: STT) is one of the world's
leading providers of financial services to institutional investors
including investment servicing, investment management and
investment research and trading. With $41.7 trillion in assets
under custody and/or administration and $4.0 trillion in assets
under management as of March 31, 2022, State Street operates
globally in more than 100 geographic markets and employs
approximately 39,000 worldwide. For more information, visit State
Street's website at www.statestreet.com.
*Assets under management as of March 31, 2022 includes
approximately $73 billion of assets with respect to SPDR® products
for which State Street Global Advisors Funds Distributors, LLC
(SSGA FD) acts solely as the marketing agent. SSGA FD and State
Street Global Advisors are affiliated.
About Neuberger Berman
Neuberger Berman, founded in 1939, is a private, independent,
employee-owned investment manager. The firm manages a range of
strategies—including equity, fixed income, quantitative and
multi-asset class, private equity, real estate and hedge funds—on
behalf of institutions, advisors and individual investors globally.
With offices in 25 countries, Neuberger Berman’s diverse team has
over 2,500 professionals. For eight consecutive years, the company
has been named first or second in Pensions & Investments Best
Places to Work in Money Management survey (among those with 1,000
employees or more). In 2020, the PRI named Neuberger Berman a
Leader, a designation awarded to fewer than 1% of investment firms
for excellence in Environmental, Social and Governance (ESG)
practices. The PRI also awarded Neuberger Berman an A+ in every
eligible category for our approach to ESG integration across asset
classes. The firm manages $447 billion in client assets as of March
31, 2022. For more information, please visit our website at
www.nb.com.
_______________________ i Based on State Street internal
research
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Media: Brendan Paul Bpaul2@statestreet.com +1 401 644
9182
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