State Street services Capital Group’s first actively managed ETFs
State Street Corporation has announced that it has begun working with Capital Group on servicing of the investment management firm’s first actively managed ETFs that launched in February 2022.
As part of the appointment, State Street is providing ETF basket services, fund accounting, fund administration, order-taking and transfer agency services.
“We’re very excited to be working with Capital Group on the launch of their first active ETFs,” says Frank Koudelka, Global ETF Product Specialist at State Street. “The State Street team began our initial ETF engagement with Capital Group when they formed an ETF Working Group to research the market and we are very pleased to see that our partnership has been an important aspect to enable Capital Group’s foray into ETFs.”
Capital Group launched its first actively managed ETFs, including one fixed income core plus income strategy, three equity strategies that invest primarily in the US, and two equity strategies that cover international and global, respectively. The funds are listed on the New York Stock Exchange.
“Capital Group is pleased to be working with State Street, an innovative leader in the ETF industry, for the launch of these investment strategies,” says Bryan Nielsen, director of ETF operations, Capital Group. “Their track record with ETFs coupled with their consultative approach made them an ideal service partner.”