State Street ETF assets hit US$2tn

State Street ETF assets hit US$2tn

Boston-based State Street Corporation now services more than half of the US$3.6 trillion global ETF market.

State Street has announced that it now services 55 per cent of the global ETF and exchange-traded product (ETP) assets under management.

The company controlled US$2 trillion of the US$3.6 trillion global ETF market as of 31 January 2017.

In Australia, 35 per cent of ETFs traded in March were State Street products, followed by iShares/BlackRock products (19 per cent) and Vanguard products (17 per cent).

State Street also issued the most traded ETF in Australia for March: the SPDR S&P/ASX 200 ETF.

Senior vice president of State Street Frank Koudelka said, "Clients continue to bring their business to State Street because of our commitment to the exchange traded product structure, our ongoing investment in our proprietary, core platform and our scale."

"We continue to make tremendous investments in servicing the ETF structure, which in turn allows us to quickly and seamlessly support the launch of innovative products for our clients," Mr Koudelka said.

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