State Street Global Advisors (SSGA) has cut fees on two European exchange traded funds (ETF) of the SPDR range after reducing the costs of 15 of its core equity and fixed income ETFs earlier this year.
SPDR MSCI Europe Ucits ETF will have its fees reduced by five basis points while the fees of SPDR MSCI Europe Small Cap Ucits ETF will be lowered by 10 basis points from 40 to 30.
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SSGA will relocate 13 of its French-domiciled funds, including the two ETFs, onto a centralised structure on its Irish platform to benefit from Irish tax agreements on 8 December thereby moving all the ETFs in SPDR range to Ireland.
Alexis Marinof, head of SPDR ETFs for Europe, Middle East and Africa, said: "In Europe, the demand for ETFs continues to grow and ETFs continue to play a key role in investment portfolios.
"Today’s announcement demonstrates our commitment to enhancing our ETF offering to better serve our clients’ needs as the ETF landscape continues to evolve."
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