State Street reduces fees on flagship equity funds
State Street has reduced the fees on its flagship Australian and global equity funds in order to best offer value to investors.
The new management fee on the Australian Equity fund had reduced from 0.79% to 0.70% per annum while the Global Equity fund reduced from 0.98% to 0.85%.
Both of these funds seek to deliver strong total returns while managing total risk which State Street said was “especially relevant” in the current market environment.
According to FE Analytics, within the Australian Core Strategies universe, the Australian Equity fund lost 4.8% over one year to 30 July versus losses of 5.8% by the Australian equity sector.
The Global Equity fund lost 6.3% over the same period versus returns of 1.5% by the global equity sector.
Performance of State Street Australian Equity and Global Equity funds versus Australian equity and global equity sector over one year to 30 June, 2020
AUTHOR
Laura Dew
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