State Street reduces ETF fees
State Street Global Advisors has announced fee reductions to four of its SPDR exchange traded funds (ETFs) effective from 14 February.
It has told the Australian Securities Exchange (ASX) that the fee reductions relate to two international ETFs and two domestic sector ETFs and include cost reductions of between six and 14 basis points.
The international ETFs were named as the SPDR S&P World ex Australia Carbon product with the management fee reduced from 0.30% per annum to 0.18%, the SPDR S&P World ex Australia Carbon Control (Hedged) Fund which has reduced from 0.35% to 0.21% and in the Australian sector the SPDR S&P/ASX 200 Financial Ex A-REIT Fund which has reduced from 0.40% per annum to 0.34% and the SPDR S&P/ASX 200 Resources Fund which has reduced from 0.40% per annum to 0.34% per annum.
The company’s ASX announcement said the fee reductions would result in the realignment of the total cost of ownership for the funds.