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Rating:ETFs Give State Street a Lift Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, October 18, 2012

ETFs Give State Street a Lift

News summary by MFWire's editors

ETF earnings have helped boost State Street's overall profits, reportsETF Trends.

Joseph Hooley, State Street CEO, said that there were $13 billion of net flows into the company's ETFs. He added that these flows were "mainly into our larger ETF funds such as SPDRs, gold and fixed income."

He added, "also of note is the success we’ve experienced in the 54 newer, more complex ETF products we introduced over the past 18 months.'

The custodian and asset manager's profits rose in the third quarter.

Hooley also added that tState Street's strategy is to position the ETFs in the commoditized area. According to him, this is where SSgA is putting "a lot of [their] focus from a standpoint of investment." 

Edited by: HFD

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