SSgA marks 20th anniversary of SPDR ETFs
State Street Global Advisors (SSgA), the asset management division of State Street Corporation, has marked the 20th anniversary of the company’s SPDR ETF business globally.
The launch of the first US listed SPDR ETF in 1993 improved access to the market for investors.
Launched with just USD6.5m in assets, the SPDR S&P 500 ETF is now the world’s largest ETF with more than USD123bn in assets under management. It is the most traded ETF with an average daily trading volume of 144 million shares.
“It’s an honour to have been a member of the team that introduced the first ETF. It’s also tremendously rewarding to see this ETF recognised as one of the most investor-friendly innovations of our time and a major catalyst for the growth of the ETF industry,” says James Ross, senior managing director and global head of SPDR ETFs at SSgA. “The industry now includes more than 5,000 funds with nearly USD2trn in assets globally. Our research shows that the prospects for the ETF industry remain positive, and we expect to see growth across all geographical markets over the next few years.”
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