Charles Schwab has appointed State Street Corporation to service its new range of eight ETFs.
State Street will provide custody, fund accounting, fund administration and transfer agency services for the funds. Charles Schwab Investment Management senior vice president George Pereira says: "We appointed State Street as our service provider because they emerged as the clear leader for servicing our complex exchange-traded fund structures." He says Schwab's latest funds have low expense ratios and free trade commissions in Schwab accounts. State Street says it currently services nearly half of all ETF assets worldwide. The firm also recently launched its latest publication on ...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes