SSGA sends signal with ETF fee reductions
State Street Global Advisors has sent a signal to the market announcing a cut in fees on six of its exchange traded funds (ETF) products.
The company said it would be reducing management cost fees on six of its Australian-based SPDR ETF products effective from 1 July.
It said the fee reductions were up to 0.30%^ per annum.
Commenting on the move, SSGA Head of Intermediary, Asia Pacific, Meaghan Victor said they demonstrated the firm’s commitment to democratisation of investing by delivering cost effective institutional quality investment solutions.
The company noted that an investor could pay as little as $7 a year in management costs on an initial account balance of $10,000 for a world ex Australia exposure with carbon reduction features, or $20 a year for global REITS, excluding commissions and other costs.
| ASX Code | ETF Name | Management Costs (% p.a.) |
|
| Previous | New | ||
| International Equity ETFs | |||
| WXOZ | SPDR® S&P® World ex Australia Carbon Control Fund | 0.18 | 0.07 |
| WXHG | SPDR® S&P® World ex Australia Carbon Control (Hedged) Fund | 0.21 | 0.10 |
| Australian Equity ETFs | |||
| SFY | SPDR® S&P®/ASX 50 Fund | 0.286 | 0.20 |
| Listed Property ETFs | |||
| DJRE | SPDR® Dow Jones® Global Real Estate ESG Fund | 0.50 | 0.20 |
| SLF | SPDR® S&P®/ASX 200 Listed Property Fund | 0.40 | 0.16 |
| Emerging Markets ETFs | |||
| WEMG | SPDR® S&P®Emerging Markets Carbon Control Fund | 0.65 | 0.35 |
still ridiculously expensive compared to the USA