SSGA lists US sector ETFs on Euronext Amsterdam

Sep 4th, 2018 | By | Category: Equities

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State Street Global Advisors, the asset manager behind the SPDR ETFs brand, has cross-listed its suite of Irish-domiciled UCITS US equity sector ETFs on Euronext Amsterdam, where they will trade in euros.

SSGA cross-lists US sector ETFs on Euronext Amsterdam

The new listings provide a local trading option for investors based in the Netherlands.

The new listings provide a local trading option for Netherlands-based investors.

Philippe Roset, Netherlands Head of SPDR at State Street Global Advisors, commented, “State Street is the Powerhouse of Sectors and manages more than $165 billion in SPDR Sector ETFs. Euronext has been offering our SPDR sector ETFs since 2001 and in addition to European and Global sector ETFs, investors will now for the first time also be able to access US Sector ETFs through their local exchange. We are delighted to partner with Euronext to make these exposures available to investors in all Euronext markets.”

The US sector suite was initially launched on Xetra in July 2015 and is also available on Borsa Italiana and London Stock Exchange.

The funds are based on the blue-chip S&P 500 Index and originally covered stocks from the consumer discretionary, consumer staples, energy, financials, health care, industrials, materials, technology and utilities sectors of the US equity market, as defined by the Global Industry Classification Standard (GICS).

A tenth fund was added to the range in June 2018, targeting companies operating within the new Communication Services sector which was unveiled by S&P Dow Jones Indices and MSCI following the latest annual review of the GICS.

The new sector was introduced to facilitate a transformation of the existing Telecommunications Services sector, expanding it to include selected companies from the Information Technology and Consumer Discretionary sectors. It will be renamed Communication Services, effective 21 September 2018.

S&P DJI and MSCI officially announced the new sector in November 2017, detailing their motivation for shaking up the GICS structure.

The suite houses just shy of $1.7 billion in assets under management. The largest fund is the SPDR S&P US Financials Select Sector UCITS ETF with $717m in assets, while the smallest is the SPDR S&P US Utilities Select Sector UCITS ETF with just $9.6m.

The ETFs provide investors with tools to manage US equity sector exposure through different stages of the economic cycle, whether it be recovery, expansion, slowdown or recession, by way of a sector-rotation strategy. Investors may also use the funds to complete or tilt portfolios, or gain targeted exposure to specific industries on an ad hoc basis.

The ETFs, along with their Euronext Amsterdam ticker codes, are as follows:

SPDR S&P US Consumer Discretionary Select Sector UCITS ETF (SXLY NA)
SPDR S&P US Consumer Staples Select Sector UCITS ETF (SXLP NA)
SPDR S&P US Energy Select Sector UCITS ETF (SXLE NA)
SPDR S&P US Financials Select Sector UCITS ETF (SXLF NA)
SPDR S&P US Health Care Select Sector UCITS ETF (SXLV NA)
SPDR S&P US Industrials Select Sector UCITS ETF (SXLI NA)
SPDR S&P US Materials Select Sector UCITS ETF (SXLB NA)
SPDR S&P US Technology Select Sector UCITS ETF (SXLK NA)
SPDR S&P US Utilities Select Sector UCITS ETF (SXLU NA)
SPDR S&P US Communication Services Select Sector UCITS ETF (SXLC NA)

Each ETF in the suite comes with a total expense ratio (TER) of 0.15%.

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