State Street launches SPYMX mutual fund share class of S&P 500 ETF
STT•State Street launched SPYMX, an institutional mutual fund share class of its SPDR Portfolio S&P 500 ETF, for eligible retirement plans and other institutional investors. It has no minimum investment for eligible retirement plans and shares SPYM’s portfolio, which has more than $170 billion in assets under management.
1. New share class
State Street launched SPYMX, an institutional mutual fund share class of its SPDR Portfolio S&P 500 ETF (SPYM). Eligible retirement plans can invest with no minimum investment, and the offering also targets other eligible institutional investors.
2. Shared portfolio
SPYMX shares SPYM’s underlying portfolio, providing exposure to the S&P 500 through an ETF with more than $170 billion in assets under management.
