SSGA takes 5% stake in Raiz Invest
State Street Global Advisers (SSGA) has taken a strategic 5% stake in Raiz Invest.
State Street announced to the market today that it had entered into an equity investment agreement with Raiz as part of a strategic relationship.
It said that the strategic relationship would see SSGA brand come together with Raiz to help Australian retail investors with micro-investments in the Exchange Traded Fund (ETF) and model portfolios space.
It said that “leveraging State Street Global Advisors’ international library of resources, insights and trends, Raiz customers will have access to a broader array of financial literacy content and investment education tools”.
Commenting on the move, SSGA president and chief executive, Yie Hsin Hung said the firm was excited to expand its relationship with Raiz.
“This strategic investment reinforces our strategy to join forces with wealth firms who share our commitment to help investors globally manage their investments and savings for retirement,” he said.
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