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Impact Investing

IPE special report May 2018

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State Street climbs on multi-manager bandwagon

Following the trend to multi-managers, State Street Global Advisors (SSgA) is launching a new global equity product next month, which will be managed by five US-based manager, four of them active.
“Selecting the managers was harder than you might think,” says David Moore, senior investment manager at SSgA in London. “There are not very many managers to choose from who have the necessary skills and appropriate track records. The main criteria was to ensure that the managers selected approached the process properly.”
The five active managers will be in charge of managing around 60% of asset allocation in four different sectors: technology, healthcare, resources – energy and oil – and financials.
“The fifth manager will be managing a completion portfolio which look at the at the overall risk of the portfolio, and will manage that risk,” Moore says. SSGA will be responsible for managing the other 40%.
Moore believes that there is an increasing trend towards stock picking and that more new products will be launched in the near future. “We will probably be launching similar products, maybe an European one,” Moore says.
SSgA is in discussions with BanSabadell in Spain about establishing a possible joint-venture, but final agreement has yet to be reached. on the initiative.

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