Program expansion will cover more than 80% of eligible* index
equity assets, including all US institutional equity index
funds
State Street Global Advisors, the asset management business of
State Street Corporation (NYSE: STT), today announced it will offer
more investors, including those owning its US ETFs and US mutual
funds, the power to choose a voting policy that directs the proxy
votes of shares owned in the index equity funds in which they are
invested.
The current program will expand to provide investors in all US
institutional index equity funds offered by the firm in the US a
range of voting policies so they can choose to direct how shares
owned by the funds are voted.
Additionally, by partnering with a leading financial technology
provider, State Street Global Advisors will give investors in
certain US equity index SPDR ETFs and US mutual funds managed by
the firm, which primarily hold US securities, the ability to direct
the voting of the shares owned by those funds by giving investors
in those funds the power to choose a proxy voting policy that
applies to the voting of shares held by the funds.
The firm’s goal is to include all eligible index equity US SPDR
ETFs and US mutual funds managed by the firm in the proxy voting
program by the end of 2024.
“As the pioneering force behind many of the world’s first ETFs,
we are proud to present yet another innovation that amplifies our
ongoing mission to democratize investing,” said Yie-Hsin Hung, CEO
of State Street Global Advisors. “By empowering individuals with
the choice to direct the vote of the shares they own through an ETF
or mutual fund, we are placing a powerful tool directly in their
hands.”
In December 2022, State Street Global Advisors announced its
initial expansion of proxy voting choice to 49% of eligible index
equity assets in separately managed accounts and certain
institutional funds in the US and UK. With this new expansion,
investors in 82% of eligible index equity assets managed by the
firm will have the ability by the end of the year to make choices
in how shares held in the funds and separately managed accounts
they own are voted.
The voting policies investors may choose from to direct the
voting of shares held by the funds in which they are invested will
be made available through Institutional Shareholder Services (ISS),
a recognized independent proxy voting provider.
Additional details and information on the proxy voting policies
that will be offered to investors as part of this program can be
found on the State Street Global Advisors website.
Similar to separately managed accounts, shareholders of
institutional funds that are eligible for the program can continue
to delegate their votes to the State Street Global Advisors Asset
Stewardship team by choosing not to opt in to the firm’s proxy
voting program and have State Street Global Advisors continue to
vote the shares held by the funds in which they are invested.
Please visit the firm’s website to learn more about our approach
to asset stewardship.
About State Street Global Advisors
For four decades, State Street Global Advisors has served the
world’s governments, institutions and financial advisors. With a
rigorous, risk-aware approach built on research, analysis and
market-tested experience, we build from a breadth of index and
active strategies to create cost-effective solutions. And, as
pioneers in index, ETF, and ESG investing, we are always inventing
new ways to invest. As a result, we have become the world’s
fourth-largest asset manager** with US $3.62 trillion† under our
care.
- ”Eligible equity index assets” include all fund and client
accounts managed by State Street Global Advisors that employ an
equity index strategy and which have granted, or are able to grant,
proxy voting authority to State Street Global Advisors.
** Pensions & Investments Research Center, as of 12/31/21.
†This figure is presented as of March 31, 2023 and includes
approximately $65.03 billion USD 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. Please note all AUM is
unaudited
State Street Global Advisors Worldwide Entities
The information contained in this communication is not a
research recommendation or ‘investment research’ and is classified
as a ‘Marketing Communication’ in accordance with the Markets in
Financial Instruments Directive (2014/65/EU) or applicable Swiss
regulation. This means that this marketing communication (a) has
not been prepared in accordance with legal requirements designed to
promote the independence of investment research (b) is not subject
to any prohibition on dealing ahead of the dissemination of
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The information provided does not constitute investment advice
as such term is defined under the Markets in Financial Instruments
Directive (2014/65/EU) and it should not be relied on as such. It
should not be considered a solicitation to buy or an offer to sell
any investment. It does not take into account any investor's or
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tax status, risk appetite or investment horizon. If you require
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The products and services to which this communication relates are
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Investing involves risk including the risk of loss of
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Boston, MA, 02210, United States
5696081.1.1.GBL.RTL
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Randall Jensen (North America) +1 (929) 244-3768
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