State Street Corporation (NYSE: STT) has announced this morning that its State Street Global Advisors "SSgA" has filed an SEC application for exemptive relief for a series of actively managed, target-date exchange traded funds (ETF).
SSgA says that investing in a diversified sampling of equity and fixed-income ETFs, the proposed new SPDR(R) ETF’s will seek to deliver risk-adjusted returns through a multi-asset class investment strategy.
It also noted that these actively managed ETF’s will meet increasing demand from clients for more actively managed products. You could essentially compare this to a Hedge Fund strategy for a "Fund of Funds" model.
As of December 31, 2007, SSGA managed some $171 Billion in ETF assets. A full list of the SSgA ETF’s can be found here.
Jon C. Ogg
February 27, 2008