Luxembourg-based UNICO Asset Management has selected State Street to administer and manage its new series of index funds geared toward European institutional investors, State Street announced today. The funds are scheduled to launch on March 1.
The ten funds that make up the new UNICO i-tracker series will be managed by SSgA Munich. State Street Global Advisors is State Streets investment management unit. State Street Luxembourg will handle all of the back office and investor services administration.
The series includes funds that will track the DAX 30, S&P 500 and Nasdaq 100 indices as well as seven exchange-traded funds based on European sector indices provided by Morgan Stanley Capital International.
Currently, SSgA operates 39 of its own ETFs, which have more than $35 billion in assets.