) is theinvestment managementdivision ofState Street Corporationand the worlds third largestasset manager,inassets under managementas of 31 December 2017.
The company services financial clients by creating and managinginvestment strategiesfornon-profit foundations, businesses, corporations, associations, governments, educational institutions, and religious organizations. In addition to institutional services, SSGA produces investment vehicles for the retail market in the United States, Europe, Asia, and Australia.3
SSGA employs 2,500 people in 25 locations (11 of which handle assets) around the world.
Global Advisors, the asset management division of State Street Bank, was founded in 19784inBoston, Massachusetts.
Its first three products were a domesticindex fund, an international index fund (based on the MSCI EAFE index), and ashort-term investment fund.5By 1989 the division had $53 billion (USD) in assets under management.
In 1990 State Street Global Advisors was formed as a separate entity from State Street Bank6with the mission of expanding globally:4firstLondon, 10 more international locations by 1994,7with 15 by 1999.8
SSGA invented theinvestment vehicleknown as theexchange-traded fund (ETF)in 1993 with the introduction of the S&P 500SPDRproduct (Ticker:NYSEArca:SPY),9which is traded on theAmerican Stock Exchange. SSGA is the number three ETF manager in the world afterBlackRockandVanguard.10
Assets under management climbed to $161 billion (USD) in 1994 and more than quadrupled to $667 billion by 1999.
As of 2006, one-third of assets under management were from non-US investors.
In 2003, SSGAs Boston office moved to the newly completedState Street Financial Centerbuilding at One Lincoln Street.
SSGA launched the first foreign real estate ETF in 2006 (Ticker:NYSEArca:RWX),
which provides investors in the US an easy way to access the international housing and commercial development markets.
In January 2011, SSGA completed its acquisition of Bank of Ireland Asset Management (BIAM). The acquisition was first announced in October 2010 for approximately €57 million.
SSGAs presence in Ireland, which began 1996, had by 2010 grown to more than 2,000 local employees.
State Street Global Advisors is among the signatories of the Principles for a Responsible Civilian Firearms Industry, which seeks to engage firearms manufacturers, dealers, and retailers in promotinggun safety.151617
For March 2017, State Street Global Advisors commissioned a statue,Fearless GirlbyKristen Visbal, and located it temporarily in theFinancial District, Manhattan, in front of theWall StreeticonCharging Bull. The statue is an advertisement for anindex fundwhich comprises gender diverse companies that have a higher percentage of women among their senior leadership.18While some have seen it as an encouragement ofwomen in business, some women criticized the statue as corporate feminism that violated their ownfeministprinciples.192021
SSGA creates customized investment strategies for institutions.22SSGA manages the assets for clients by setting up commingled funds (otherwise known as common trust funds).
In addition to institutional products, SSGA has 46 ETF investment products in the US market,23as of March 2007. The ETFs track international and domestic indices based on market capitalization, investment style, sector, industry, or commodity. ETF products are also available in other parts of the world such as Belgium, France, Hong Kong, and Singapore under the streetTracks brand.
SSGA has 26 Mutual Fund products divided by investment type:24money markets, bonds, equities, and diversified funds of funds (also known as life style funds).
SSGA partners with seven companies in various markets to produce local investment strategies for clients.25They are Advanced Investment Partners; Asian Direct Capital Management; GovernanceMetrics International (GMI); Innovest Strategic Value Advisors, Inc.;Rexiter Capital Management Limited; Shott Capital Management, LLC; SSARIS Advisors, LLC; The Tuckerman Group, LLC; and Wilton Asset Management, LLC.
In October, 2007, several pension funds sued State Street Corp. for the alleged mishandling of several bond funds managed by SSGA.26
In 2008, State Street Bank was sued by Trust Co. for Fixed Income Funds Investment.27The case was settled in 2010.28
In April 2009, a class action suit was filed against State Street, alleging SSGA chose illiquid, leveraged, and risky securities in their short-term, liquid fund products.29
In October 2017, SSGA agreed to pay over $5 million in settlement over gender pay discrimination, just 6 months after the installation of the Fearless Girl statue on Wall Street.3031
State Street chief takes aim at the cost of servicing.
… says activities will move to front office. … previously chief executive of State Street Global Advisors, the banks investment arm, which is the worlds third-biggest fund manager by assets.
Archived copy. Archived fromthe originalon 2007-04-01
Data Analytics for Corporate Debt Markets, Using Data for Investing
State Street Global Advisors is the investment management division of State Street … investment vehicles for the retail market in the United States, Europe, Asia, …
State Street Global Advisors: Mend It, Dont End It. April 17, 2012.
State Street Global Advisors was founded in 1978 as the investment management division of State Street Bank and Trust. The firm was a pioneer in the development of domestic and international index funds. In 1990, it was reorganized as a separately incorporated subsidiary of State Street.
State Street Global Advisors (SSgA) … 1990 that SSgA became a separate entity from the bank
BrusselsHong KongTorontoParisSydneyTokyoDubaiSan FranciscoMontreal, andAtlanta
ETF League Table As Of June 13, 2019 ETF.com.
Greg Ryan (November 22, 2016).State Street subleasing chunk of namesake tower in Boston.
John Spence.New real-estate ETF is a globe-trotter.
State Street Global Advisors Completes Acquisition of Bank of Ireland Asset Management. Business Wire. 10 January 2011.
Thomas Molloy (March 2, 2010).State Street opens new state-of-the-art headquarters in the capitals docklands.
Moyer, Liz (November 14, 2018).Funds managing $4.8 trillion press the firearm industry to accept new principles on gun safetyCNBC
McElhaney, Alicia (November 14, 2018).$5 Trillion Investor Coalition to Pressure Gun Companies on Safety Measures.
Wood, Christianna; Ailman, Christopher; OHara, John; McCauley, Michael; Reali, Peter; Kumar, Rakhi (December 6, 2018).Principles for a Responsible Civilian Firearms IndustryHarvard Law School
Dutram, Eric (2017-03-27).The Fearless Girl Statue Isnt a Symbol, It Is an Advertisement. NASDAQ.com
The Sculpture of a Fearless Girl on Wall Street Is Fake Corporate Feminism. The bronze statue installed by an advertising firm and a financial firm represents basically everything thats wrong with our society.Jillian Steinhauer, Hyperallergic, March 10, 2017
The Fearless Girl statue sums up whats wrong with feminism today. Corporate feminism always ends up betraying womens struggle for justice. Thats why this Wall Street-funded sculpture will never be a symbol to embrace.Cara Marsh Sheffler. The Guardian. 14 March 2017
Fearless Girl Statue Not The Feminist Icon We Need.
State Street Global Advisors (SSGA) … investment strategies and integrated solutions to institutional
State Street Challenging BNY Mellon As Largest Custody Bank. November 16, 2017.
As State Street is one of the three largest ETF providers in the world …
SSgA Funds. Securities and Exchange Commission.
State Street Global Advisors: ESG Investing & Stewardship
Clients include governmental entities, corporations, endowments and … State Street Global Advisors partners with many of the worlds largest, …
Appell, Douglas (October 15, 2007).SSgA defends its low-risk funds. pionline.com.
State Street Bank and Trust Co. Fixed Income Funds Investment ERISA Litigation.
Administrative Proceeding: State Street Bank and Trust Company
.U.S. Securities and Exchange Commission. February 4, 2010.
Williamson, Christine (April 8, 2009).Class action sought in State Street suit. pionline.com.
Merelli, Annalisa.The firm behind Fearless Girl will pay $5 million for salary discrimination against women.
Firm Behind Fearless Girl Agrees to $5 Million Pay Discrimination Settlement.
State Street Global Advisors(company website)
SSGAFunds.com SSGAs site for exchange traded funds (ETFs) and mutual funds
Investment management companies of the United States
This page was last edited on 25 September 2019, at 23:14