State Street Global Advisors ranks second behind Barclays as the top exchange traded fund (ETF) providers. In order to catch up, State Street has raised the compensation for their sales force for effecting the sale of ETFs, at the same time they lowered the compensation for sales of mutual funds and separately managed accounts, reports Brooke Southall for InvestmentNews. The sales force at SSgA is responsible for all the products, where at Barclays’ the sales force focus on a particular product. SSgA has been realigning their distribution effort and put an emphasis on ETFs.
So far this year, SSgA ETFs have had had net outlfows of about $5.8 billion in their ETF products. They have launched 13 new products in the past 12 months.
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