SSgA launches new ETF products
State Street Global Advisors (SSgA) has launched two new exchange-traded fund (ETF) products into the Australian market.
The company announced this week it had launched the SPDR S&P/ASX Australian Bond Fund and the SPDR S&P/ASX Australian Government Bond Fund.
The two products began trading on the Australian Securities Exchange (ASX) this week.
According to SSgA, the products are the first ETFs to track indices from the S&P/ASX Australian Fixed Income Index Series.
Commenting on the new products, SSgA head of SPDR ETFs in Australia Amanda Skelly said they aimed to give retail investors exposure to market, which had traditionally proved difficult and costly to access.
"Like the entire family of SPDR ETFs, they also provide the building blocks investors can use to diversify their portfolios in a low cost, easily tradeable and transparent manner," she said.
Recommended for you
Advisers at DOD Bookkeeping, which received an $11 million penalty last week, received as much as 40 per cent of their remuneration via a bonus when clients purchased a property via a SMSF, according to court documents.
Private wealth manager Escala Partners has launched an end-to-end investment platform to strengthen its alternatives capability as clients seek sophisticated vehicles.
Perpetual Wealth Management has hired two advisers from Ord Minnett as part of five hires, just weeks after the rival firm announced it had picked up six from Perpetual Private.
ASIC has cancelled the AFSL of a Perth financial services firm following payments to its clients by the Compensation Scheme of Last Resort after a failed managed investment scheme.
