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State Street’s Mega

2017-06-03 14:43 [INVESTING] Source:Netword
Guide:State Street’s SPDR SP 500, the planet’s biggest ETF, is losing ground to funds from BlackRock and Vanguard amid a price war and investors’ growi

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State Street’s SPDR S&P 500, the planet’s biggest ETF, is losing ground to funds from BlackRock and Vanguard amid a price war and investors’ growing embrace of Europe, writes the Financial Times.

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So far this year, investors have yanked in excess of $10 billion from the State Street fund, which has $230 billion of assets.

BlackRock iShares’ S&P fund has pulled in $14 billion year to date, and Vanguard’s version has attracted $7 billion.

According to analysts, the State Street ETF is popular among asset managers that have sold U.S. stocks and bought European ones as that region’s star has risen recently.

Then there’s the price war. State Street’s ETF charges nine basis points, while BlackRock’s and Vanguard’s charge four.

“Those investors with a longer time horizon are more focused on the cost of the ETFs, a key battleground for the passive asset management industry that only aims to match the performance of an index,” writes the FT.

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