State Street Global Advisors has rationalised its legal entity footprint in the EU, consolidating its EU operating model under a single legal entity, State Street Global Advisors Europe Limited (“SSGAEL”), licensed to provide MiFID and fund management company services pursuant to EU directives.
Effective 1 August 2021, State Street Global Advisors Ireland Limited (“SSGA Ireland”), State Street Global Advisors GmbH (“SSGA GmbH”), and SSGAEL have effected a cross-border merger by means of a merger by acquisition of SSGA Ireland and SSGA GmbH by SSGAEL (the “Merger”). In anticipation of its broader role following the Merger, SSGAEL changed its name from State Street Global Advisors Funds Management Limited to become known as “State Street Global Advisors Europe Limited”.
SSGAEL is authorised by the Central Bank of Ireland:
for management of portfolios of investments on a discretionary client-by-client basis
for the MiFID ancillary services of investment advice and reception and transmission of orders; and
as an AIFM and UCITS management company.
These permissions have been notified as relevant to other EU regulators such that SSGA’s ability to operate across Europe and service your investment needs remain unchanged. SSGAEL is the designated management company/investment manager of record for all of SSGA’s EU fund entities, including, as from the Merger, State Street Liquidity plc, SSGA SPDR ETFs Europe I plc and SSGA SPDR ETFs Europe II plc. As before SSGAEL may delegate the execution of certain activities to other SSGA group entities whilst retaining other activities that it can directly perform.
As a result of the Merger, SSGA’s existing branches in the EU became branches of SSGAEL, and continue to operate and provide the same distribution services as before. Also as a result of the Merger, our business located in Germany currently conducted by SSGA GmbH, became the German branch of SSGAEL, continuing to provide the same distribution services and operating from our existing offices in Frankfurt and Munich and the previous Polish branch of SSGA GmbH becomes the Polish branch of SSGAEL.
All documents and materials dated prior to 1 August 2021 should be read in the context of these changes. For fund investors, the most up to date fund documentation reflecting these changes can be found on https://www.ssga.com/ic/fund-finder. For other queries, please contact your usual SSGA/SPDR representative.
This information is for informational purposes only, not to be construed as investment advice or a recommendation or offer to buy or sell any security. Investors should always obtain and read an up-to-date investment services description or prospectus before deciding whether to appoint an investment manager or to invest in a fund. Any views expressed herein are those of the author(s), are based on available information, and are subject to change without notice. Individual portfolio management teams may hold different views and may make different investment decisions for different clients. There are no guarantees regarding the achievement of investment objectives, target returns, portfolio construction, allocations or measurements such as alpha, tracking error, stock weightings and other information ratios. The views and strategies described may not be suitable for all investors. SSGA does not provide tax or legal advice. Prospective investors should consult with a tax or legal advisor before making any investment decision. Investing entails risks and there can be no assurance that SSGA will achieve profits or avoid incurring losses.
Performance quoted represents past performance, which is no guarantee of future results. Investment return and principal value will fluctuate, so you may have a gain or loss when shares are sold. Current performance may be higher or lower than that quoted.
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