State Street Global Advisors appointed as first index manager for AMX passive funds
State Street Global Advisors, the asset management business of State Street Corporation, has been selected as the first passive funds provider offered by The Asset Management Exchange (AMX), a multi-asset institutional funds platform.
State Street Global Advisors will launch two investment strategies with the exchange:
• AMX CCF – SSGA – Global Equity, which tracks the MSCI World Index
• AMX CCF – SSGA – Global Adaptive Capped ESG (environmental, social and governance) which tracks the MSCI ACWI ex Thermal Coal Adaptive Capped 2.0 ESG Universal Index
Both funds include high levels of governance and stewardship, which provide investors with active influence over the companies they are invested in. The funds will be managed by State Street Global Advisors whilst being owned, administered and branded by AMX.
“We are proud to partner with AMX and believe the economies of scale we can offer will significantly reduce costs and increase operational efficiencies for our clients,” says Jenny Yoe (pictured), Head of UK Institutional at State Street Global Advisors. “We have a strong track record of providing investment solutions to a wide variety of providers and we are committed to improving the availability of cost-efficient funds. Investors committed to responsible asset stewardship and ESG can now select strategies matching their investment goals on the AMX platform.”
“There has been a growing demand from institutional investors to be more proactive stewards in the assets they own due to the impact of certain ESG risks on their investment portfolios,” says Oliver Jaegemann, CEO of AMX. “In launching the AMX CCF – SSGA – Global Equity and the AMX CCF – SSGA – Global Adaptive Capped ESG funds with State Street Global Advisors, we are meeting this demand by providing our first passive equity funds at a very accessible price point and with high governance standards. State Street Global Advisors have been building and managing index funds for 40 years, so we are particularly excited to partner with them and tap into their expertise.”