The SEC decision to allow fund companies to create ETF share classes is expected to bring a flood of new ETFs to the market. State Street Investment Management plans to offer mutual fund share classes of its ETF strategies in the U.S. retirement plan market, estimated at $4 trillion.

State Street sees an opportunity in the retirement plan market, where ETFs have not typically been represented. The company plans to offer mutual fund share classes of its ETF strategies, leveraging its $1.7 trillion in ETF assets to provide competitive portfolio offerings to investors and retirement plan sponsors.

State Street’s largest ETFs include SPDR S&P 500 ETF Trust (SPY), SPDR Gold Shares (GLD), and State Street SPDR Portfolio S&P 500 ETF (SPYM). The company plans to offer mutual fund share classes of its ETF strategies in the U.S. retirement plan market, estimated at $4 trillion.

The recent decision by the SEC to allow fund companies to create ETF share classes of traditional mutual funds is expected to lead to a flood of new ETFs on the market. State Street Investment Management plans to offer mutual fund share classes of its ETF strategies in the U.S. retirement plan market, estimated at $4 trillion. State Street aims to differentiate itself in the 401(k) market through ETFs like GLD, XLK, XLF, ALLW, and PRIV. ALLW includes Bridgewater Associates as a sub-advisor. PRIV was the first ETF with significant private credit exposure approved by the SEC. State Street seeks to bring ETF innovation to the retirement industry.

State Street’s Anna Paglia emphasizes the need to bring ETF technology to more markets in the retirement industry. Currently, there is fragmentation due to various legal wrappers for portfolio strategies in retirement plans. Paglia believes that the retirement industry can benefit from the innovation that the ETF industry offers. State Street plans to leverage its size, scale, and content to provide investors with cost-effective solutions.

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2. Apple reported record-breaking revenue of $111.4 billion for the first quarter of 2021, driven by strong iPhone sales and growth in their services and wearables segments. The company also announced a cash dividend of $0.205 per share.

3. Amazon announced plans to hire 100,000 new employees in the U.S. and Canada, with starting wages of $15 per hour. The e-commerce giant also reported a 44% increase in revenue in the fourth quarter of 2020, totaling $125.6 billion.: ETF giant State Street says 401(k) plan to face new low-cost challenge