State Street to Service abrdn’s First Actively Managed ETF In Europe
July 26 2023 - 6:45AM
Business Wire
Builds on State Street’s 30 year history of innovation in the
ETF space
State Street Corporation (NYSE: STT) today announced that it has
been appointed by abrdn to service its first actively managed
exchange traded fund (ETF) in Europe. State Street will provide
abrdn, a leading European asset manager with £500bn1 in assets
under management and administration (AUMA), with custody, fund
accounting, order-taking, transfer agency services and ETF
servicing.
State Street has been working closely with abrdn to support the
firm’s expansion into the European ETF market with the launch of
the abrdn Global Real Estate Active Thematics UCITS ETF. Building
on its existing presence in the US ETF market, abrdn aims to
provide investors with access to its investment capabilities in a
liquid and transparent vehicle.
“State Street is extremely pleased to partner with abrdn on the
launch the first of their new active ETF range in Europe, and we
look forward to continuing to support the development of further
products as abrdn builds its range of offerings in the region,”
said Ciaran Fitzpatrick, head of ETF Solutions for State Street
Europe. “We began working with abrdn two years ago on the planning
and strategy for the launch of their ETF range in Europe, and the
first product going live marks a great milestone for both firms.
Active ETFs are leading the next wave of ETF growth in the European
market, and we continue to see strong demand for new offerings and
product innovation.”
“We are delighted to partner with a global leader in the ETF
industry as we look to build a competitive product range in this
growing segment of the market,” said Emma Herd, director of
Commercial and Client Operations, abrdn. “State Street’s support
and experience during this period has been critical in helping us
continue developing new and innovative solutions for our
clients.”
For the past 30 years, State Street has continuously innovated
to support what has become a US$10T ETF marketplace. Today State
Street is the largest ETF administrator in the world with more than
2,700 ETFs serviced in 13 countries2 and provides fully integrated
global ETF servicing capabilities. State Street’s ETF servicing
business allows clients to engage easily and efficiently with the
growing ETF market by leveraging its efficient proprietary
technology and global operating model. State Street’s solutions
enable clients to launch ETFs that align with industry best
practices at every stage, regardless of structure or model.
About State Street
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 $39.6 trillion in assets
under custody and/or administration and $3.8 trillion* in assets
under management as of June 30, 2023, State Street operates
globally in more than 100 geographic markets and employs
approximately 43,000 worldwide. For more information, visit State
Street's website at www.statestreet.com.
*Assets under management as of June 30, 2023 includes
approximately $63 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.
© 2023 State Street Corporation - All Rights Reserved
5836280.1.1.GBL.RTL
1 As at 28 Feb 2023:
https://www.abrdn.com/docs?editionId=b5469fbf-6fca-44ca-91a6-5dce0e4a4d0c
2 State Street Internal Research
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version on businesswire.com: https://www.businesswire.com/news/home/20230726675786/en/
Media: Brendan Paul Bpaul2@statestreet.com +1 401 644
9182
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