State Street Global Advisors of Boston is proposing changes to its S&P 500 index fund that it says could further shrink the fund's low expense ratio.

The change SSgA is asking shareholders to approve could reduce the fund's existing expense ratio of 0.18 percent. The SSgA funds asked shareholders in a preliminary proxy statement filed with the SEC Feb. 14 to approve a change which would allow the S&P 500 fund to adopt a master-feeder structure. Shareholders are expected to vote on the proposal at a meeting April 4.

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