State Street Global Advisors (SSgA), the asset management arm of State Street, is re-branding its exchange-traded funds (ETFs) as SPDRs. The change will be phased, but start today.
“The move toward a unified brand is designed to bring clarity to investors and further distinguish our ETFs,” says James Ross, senior managing director of SSgA. “Having introduced the original SPDR ETF (based on the S&P 500 Index) the world’s first and largest ETF in 1993, State Street takes great pride in its heritage as the ETF industry’s pioneer, the quality of our offerings and the benefits they provide to investors.”
After conducting research, SSgA decided that consolidating its ETF products under the SPDR brand, and introducing a new logo featuring a re-designed version of the brand’s mark – unsurprisingly, a spider illustration – would “present a more discernible suite of products.”
To support the re-branding initiative, State Street is also launching a major advertising campaign, created around a new tagline – “Precise in a world that isn’t.”
“The new brand platform centers around the concept of precision in two ways,” adds Tony Rochte, head of U.S. Intermediary Sales and Client Service at SSgA. “First, the suggestion of SPDRs’ product purity and second, what investors look for in an investment: A vehicle that helps them to precisely match their investment strategy.”
In October 2006, SSgA’s US assets under management in ETFs topped $100 billion for the first time – up from $75 billion year over year.
At year-end 2006, SSgA managed approximately $102 billion across 43 ETFs domestic ($113 billion and 67 worldwide).