Firm also announces it will be first Authorized Participant Representative in the ActiveShares ecosystem

State Street Corporation (NYSE:STT) today announced that it has been appointed ETF servicing agent and also has been appointed to serve as first Authorized Participant Representative (APR) for American Century Investments’ new range of semi-transparent, actively managed ETFs. American Century Investments is the first asset manager to receive regulatory approval for two investment strategies, Focused Large Cap Value and Focused Dynamic Growth, both of which will be available through ActiveShares®, its semi-transparent active ETF vehicle.

American Century Investments will utilize Precidian Investments' ActiveShares® methodology. The structure will allow American Century Investments to deliver its actively-managed investment strategies in these ETF vehicles without the daily holdings disclosure requirement of fully transparent ETFs.

“The approval of semi-transparent ETFs opens a whole new category of opportunity for active managers and investors. We are delighted to be working with American Century Investments on this unique offering and look forward to using our extensive experience, expertise, and innovative ETF servicing technology to support the firm with this exciting new product,” said Frank Koudelka, Global ETF Product Specialist at State Street.

As part of the agreement, State Street will provide services including basket creation, dissemination, settlement, custody, fund accounting, order-taking, financial reporting and transfer agency services to American Century Investments' new suite of funds. In addition, State Street, through its affiliated broker dealer within its Global Markets division, will also serve as the first Authorized Participant Representative (APR) in the ActiveShares ecosystem. The APR is a new and pivotal role, serving as agent for the execution of the underlying confidential portfolio holdings, and standing in between the Authorized Participant and the Investment Manager to protect the confidentiality of the portfolio holdings.

“We believe that semi-transparent ETFs expand the opportunity set to managers and strategies that had previously not been available, providing additional choices for investors,” said Ed Rosenberg, senior vice president and head of Exchange Traded Funds for American Century Investments. “We are pleased to be the first to provide investment strategies in these new vehicles and to work with State Street, whose established track record in the exchange traded ecosystem and global footprint with local expertise, made it an ideal service partner.”

State Street has serviced ETFs since their inception more than twenty years ago. Today, the firm is the largest global ETF servicer, servicing close to 70% of US ETF assetsi, and is the only provider serving all major ETF regions.

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 $34.36 trillion in assets under custody and administration and $3.12 trillion* in assets under management as of December 31, 2019, 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 December 31, 2019 includes approximately $45 billion of assets with respect to which State Street Global Advisors Funds Distributors, LLC (SSGA FD) serves as marketing agent; SSGA FD and State Street Global Advisors are affiliated.

3021564.1.1.AM.RTL Expiration Date: 3/31/2021

i Statistics compiled using ETFGI’s ETF Monthly Insights as-of December 2019 and State Street’s internal research

Zarna Patel 617 756-2911 zpatel@statestreet.com

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