Money manager tries to catch up with rivals as investors shift into unlisted assets
State Street’s asset management arm is looking to buy a stake in a private credit or infrastructure manager, as one of the world’s largest passive fund managers tries to boost its presence in the fast-growing realm of alternative assets. “We are shopping” for either a full acquisition or a minority stake combined with product partnerships, Yie-Hsin Hung, chief executive of State Street Global Advisors , told the Financial Times. The $4.
invented the first exchange traded fund with an S&P 500 tracker in 1993, it has largely missed out on recent enthusiasm for actively managed ETFs. It also stands at risk of falling behind in the race to benefit as investors shift significant portions of their portfolios into unlisted assets. sought to expand beyond the equity index tracking funds that had been its base, Hung said. The asset manager recently joined forces with Apollo to seek regulatory permission to offer an ETF that invests in both public and private credit. It has also teamed up with Galaxy Asset Management to offer three actively managed digital asset and disruptive technology ETFs.
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