SPDR launches Ucits S&P 500 ETF
SPDR ETFs, the exchange traded funds platform of State Street Global Advisors, has launched a Europe-domiciled version of its SPDR S&P 500 fund.
The new Ucits-structured ETF, primarily listed in Germany, is registered for sale in the UK, Netherlands, France, Ireland and Italy, with additional cross-listings planned. The Ucits fund will be managed by the same team as the US product.
James Ross, senior managing director and global head of SPDR ETFs at SSgA, said: “The SPDR S&P 500 is well-recognised by many investors. The case for investing is straightforward – instant and easy access to one of the world’s premier indexes tracking 500 large cap US stocks diversified across a range of sectors.”
The ETF is physically-backed, and trades in Euros and Sterling.