According to a press release, SSgA will manage a series of six tactical asset allocation portfolios that will be implemented using State Street’s SPDR Exchange Traded Funds (ETFs).
These portfolios, which, according to a press release reflect a range of risk profiles, are made available to high net worth clients via Genworth Financial Wealth Management’s independent financial advisor distribution channel. Genworth Financial Wealth Management is an investment management and consulting firm “dedicated to helping advisors build great businesses,” according to the firm.
SSgA’s Global Asset Allocation team manages more than $170 billion (as of December 31, 2008) in total assets. Today, State Street’s family of SPDR Exchange Traded Funds allows investors to choose from 82 ETFs in the US, according to the firm.