History of Innovation
Whether it’s giving every investor access to asset classes and customizable portfolios traditionally only available to institutional investors with the first ETF, helping to accelerate the industry transition from commissions to fees, or building impact investing funds that not only do well but also “do good,” at State Street Global Advisors our focus has always been on Responsible Innovation that benefits investors and the world.
For us, designing funds isn’t just about offering cost-efficient access , but meeting needs, solving problems and exceptional performance. From our roots as an indexing pioneer to our capabilities in active, smart beta and alternatives, our clients’ investing challenges have been the catalyst for our innovation for more than 35 years.
1978 – SSGA is established to provide investment management services to institutional investors; the firm launches one of the industry’s first index equity funds.
1979 – Building on its early indexing success in the US, SSGA goes international, introducing one of the industry’s first MSCI EAFE Index funds.
1984 – SSGA complements its indexing prowess with new active quantitative equity strategies, meeting investor demand for systematic approaches to portfolio management and their underlying return drivers.
1990 – We open our first non-US locations in London and Hong Kong; live trading desks in both locations offer clients local insight and execution capabilities across all major regional markets.
1993 – Together with the American Stock Exchange, SSGA launches the SPDR® S&P 500 ETF - the first, largest and most liquid ETF and security in the world.1 The product offers investors broader, more efficient access to capital markets.
1998 – SSGA launches Sector SPDRs, the industry’s first family of sector-specific ETFs offering tactical asset allocation strategies to more investors.
1999 – Our collaborative work with the government of Hong Kong results in Asia ex-Japan’s first ETF, the Tracker Fund of Hong Kong, which was the largest IPO in history for the region at the time – raising over US$4 billion 2
1999 – We pioneer multi-asset class, liability-driven investing strategies designed to be more closely aligned with plan sponsors’ risk, return and cash-flow objectives.
2000 – We create one of the first groups dedicated to serving the investment needs of sovereign wealth funds, central banks and government entities. SSGA’s Official Institutions Group (OIG) today serves nearly 70 official institutions and manages more than US$420 billion globally.3
2001 – First family of ETFs in Europe
2001 – SSGA launches the ETF market in Australia with the SPDR S&P/ASX 200 Fund and the SPDR S&P/ASX 50 Fund tracking the flagship indexes of the Australian large cap market
2002—SSGA launches the first locally-listed ETF in Singapore, the SPDR Straits Times Index ETF. Today this ETF is still the most-recognized vehicle tracking the nation’s flagship large cap index.
2003 – SSGA joins with local partners in Taiwan to launch the first local ETF, the Polaris Taiwan Top 50 Tracker Fund.
2003 – Assets under management surpass $1 trillion.
2004 – SSGA and the World Gold Council launch the first gold-backed, exchange-traded security in the US market; the fund raises more than US$2 billion in just two months.
2005 – SSGA partners with China Asset Management to launch the first local Chinese ETF, the Shanghai SSE50 Index Fund.
2005 – SSGA launches Asia’s first regional fixed income ETF, the ABF Pan Asia Bond Index Fund, currently the largest fixed income ETF across APAC with approximately US$4bn in AUM. This product was created with the EMEAP (Executives' Meeting of East-Asia and Pacific Central Banks) Group, which refers to the group of 11 central banks or monetary authorities in the East Asia and Pacific region, namely Australia, China, Hong Kong, Indonesia, Japan, Korea, Malaysia, New Zealand, Philippines, Singapore and Thailand. PAIF is one of the Group's initiatives to further develop the Asian bond market.
2008 – We introduce Managed Volatility Strategies, providing clients with a new risk management tool seeking compelling equity returns with less volatility.
2009 – SSGA expands presence in Latin America by cross listing 17 ETFs on the Bolsa Mexicana de Valores
2010 – The firm reaches US$2 trillion in worldwide assets under management.
2010 – SSGA acquires Bank of Ireland Asset Management, adding strong global active fundamental management capabilities and expanding to Dublin as the firms 10th global investment center from which investment teams manage client assets.
2011 – SSGA forms the Investment Solutions Group (ISG), an experienced team of global professionals that works closely with clients to develop custom portfolio solutions to meet their investment objectives.
2012 – We partner with Blackstone/GSO to offer the first-of-its-kind actively managed senior loan ETF, providing exchange-traded access to one of the world’s premier managers of this highly sought asset class.
2014 – SSGA expands its presence in the UK defined contribution marketplace with the launch of the Timewise Target Retirement Funds, a series of target-date funds aimed at providing better default options for workplace pension plan participants.
2014 – SSGA is the only US-based asset manager selected by the European Central Bank to help manage its asset-backed securities purchase program.
2015 – SSGA launches its first S&P 500 fossil-fuel-free ETF in partnership with the U.S. Natural Resources Defense Council, adding to the firm’s Environmental, Social and Governance (ESG) lineup.
2015 – SSGA partners with DoubleLine Capital to launch the SPDR DoubleLine Total Return Tactical ETF, an active fixed income ETF which raises more than US$1 billion in assets within six months of its launch.
2016 – SSGA acquires GE Asset Management, adding new alternatives capabilities, strengthening the firm’s fundamental equity and active fixed income teams, and establishing SSGA as a leading provider of outsourced chief investment officer (OCIO) services.
2016 – Launch of SPDR SSGA Gender Diversity Index ETF (SHE), the first SPDR ETF to use a proprietary SSGA Index
1Source: Arcavision, SSGA as of September 30, 2014. There can be no assurance that a liquid market will be maintained for ETF shares.
2Diversification does not ensure a profit or guarantee against loss.
3As of September 30, 2014.
Before investing, consider the funds' investment objectives, risks, charges and expenses. To obtain a prospectus or summary prospectus which contains this and other information, call 1-866-787-2257 or visit www.spdrs.com. Read it carefully.
In general, ETFs can be expected to move up or down in value with the value of the applicable index. Although ETFs may be bought and sold on the exchange through any brokerage account, ETFs are not individually redeemable from the Fund. Investors may acquire ETFs and tender them for redemption through the Fund in Creation Unit Aggregations only, please see the prospectus for more details.
Distributor: State Street Global Advisors Funds Distributors, LLC, member FINRA, SIPC, an indirect wholly owned subsidiary of State Street Corporation. References to State Street may include State Street Corporation and its affiliates. Certain State Street affiliates provide services and receive fees from the SPDR ETFs.