State Street Global Advisers (SSgA) is seeking to expand its asset class range in the Australian exchange-traded fund (ETF) market, Financial Standard reports. As per the world’s second biggest ETF provider with $269 billion in assets under management, the market in Australia is small in terms of products on offer compared with the U.S. and European markets. In 2010, SSgA launched three new funds in the Australian market, including the S&P/ASX200 Financials X A-REITs Fund and the S&P/ASX200 Resources Fund. As of July, there were 50 ETFs listed on the Australian Securities Exchange with a combined market capitalization of $4.5 billion.
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