SSGA cuts management fees on six SPDR ETFs
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State Street Global Advisors (SSGA) has reduced management costs for six of its Australian-based SPDR exchange traded funds (ETFs), effective November 1.
The management cost reductions will apply to its three Australian Equities ETFs (the SPDR S&P/ASX 200 Fund, the SPDR S&P/ASX 200 ESG Fund and the SPDR MSCI Australia Select High Dividend Yield Fund), two International Equities ETFs (the SPDR S&P Global Dividend Fund and the SPDR MSCI World Quality Mix Fund) and one fixed income ETF (the SPDR S&P/ASX Australian Government Bond Fund).
SSGA has 17 ETFs available on the Australian Securities Exchange (ASX), and last year made separate price reductions on four of its other ETFs as part of its regular review of its range.
The company also reduced the fees on its smart beta range to make its two dividend ETFs (SYI and WDIV) and its multi factor ETF (QMIX) some of the lowest cost among its peers, it said.
“We are excited to be able to offer investors some of the most cost-effective ETF offerings in their respective peer groups,” Kathleen Gallagher, Head of SPDR ETFs Australia at State Street Global Advisors, said.
“These fee changes demonstrate our commitment to the democratisation of investing by delivering cost effective institutional quality investment solutions to investors.”
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