State Street Corporation (NYSE: STT) today announced that it has been appointed by Avantis Investors, a new unit within American Century Investments, to provide a range of broad ETF services for its five newly launched low-cost funds. Services will include basket creation, custody, accounting, transfer agency and fund administration.
Avantis Investors offers active investment strategies for investors in mutual fund and ETF formats. The five funds, launched in late September on NYSE Arca, are:
- Avantis U.S. Equity ETF (AVUS)
- Avantis International Equity ETF (AVDE)
- Avantis Emerging Markets Equity ETF (AVEM)
- Avantis U.S. Small Cap Value ETF (AVUV)
- Avantis International Small Cap Value ETF (AVDV)
The five ETFs have had a very fast start, amassing more than $400 million in total assets through the end of October.
“Our agreement with Avantis Investors underscores the scale and expertise of our ETF team and the power of our ETF servicing technology,” said Frank Koudelka, senior vice president & global ETF product specialist at State Street. “Our top priority is to provide strategic advice and partnership to our clients and we couldn’t be more excited to work with Avantis on their suite of low-cost ETFs.”
“Our goal is to provide investors with active, transparent ETFs that are low cost and can help an individual meet their financial goals,” said Eduardo Repetto, Chief Investment Officer of Avantis Investors.
“We are very pleased to extend our relationship with State Street and their experienced ETF servicing team to bring these strategies to market,” commented Ed Rosenberg, Senior Vice President and Head of Exchange Traded Funds.
State Street also announced recently that its ETF servicing business has been recognized as the Best ETF Custody Provider and the Best ETF Fund Administrator at the 2019 ETF Express USA awards. Additionally, State Street was named Best ETF Administrator at the 2019 Fund Intelligence Operations and Services Awards earlier this month, which recognize outstanding contributions made by business, operations and technology leaders at asset management and service provider firms.
About State Street Corporation
State Street Corporation (NYSE: STT) is the world's leading provider of financial services to institutional investors including investment servicing, investment management and investment research and trading. With $32.90 trillion in assets under custody and administration and $2.95 trillion* in assets under management as of September 30, 2019, State Street operates globally in more than 100 geographic markets and employs approximately 40,000 worldwide. For more information, visit State Street's website at www.statestreet.com.
* Assets under management include the assets of the SPDR® Gold ETF and the SPDR® Long Dollar Gold Trust ETF (approximately $44 billion as of September 30, 2019), for which State Street Global Advisors Funds Distributors, LLC (SSGA FD) serves as marketing agent; SSGA FD and State Street Global Advisors are affiliated.
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Expiration Date: 11/30/2020
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