Artisan Funds Launches Global Equity Fund

Artisan Funds has announced the launch of Artisan Global Equity Fund (ARTHX).

The fund is co-managed by Mark Yockey, leader of Artisan’s global equity team, and Barry Dargan. Yockey is the portfolio manager of Artisan International Fund and Artisan International Small Cap Fund, according to an announcement.      

Dargan recently joined Artisan from MFS Investment Management, where he was a managing director, portfolio manager of MFS International Growth Fund, and portfolio co-manager of MFS Global Growth Fund.      

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Artisan Funds are available through financial professionals, major discount brokerage no-transaction fee (NTF) platforms like Charles Schwab, Fidelity and TDAmeritrade, or on a direct basis through Artisan Distributors LLC.     

SSgA Ties Up with Nuveen on Municipal ETFs

State Street Global Advisors (SSgA), the investment management business of State Street Corporation, has entered into an agreement with Nuveen Investments regarding the management of several municipal bond strategies.

According to an announcement, Nuveen will become sub-adviser for municipal bond SPDR exchange-traded funds (ETFs) along with other municipal bond investment strategies managed by SSgA.

Under the terms of the agreement, Nuveen Asset Management will be responsible for managing the assets of five existing municipal bond SPDR ETFs under oversight of SSgA Funds Management, Inc. (SSgA FM) and the board of trustees for each SPDR ETF.  SSgA FM will continue to serve as the investment adviser for the municipal bond SPDR ETFs.

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With nearly $2 billion in assets, SSgA’s municipal bond ETFs will be re-branded as SPDR Nuveen municipal ETFs and include:

  • SPDR Barclays Capital Municipal Bond ETF (ticker: TFI);
  • SPDR Barclays Capital California Municipal Bond ETF (CXA);
  • SPDR Barclays Capital New York Municipal Bond ETF (INY);
  • SPDR Barclays Capital Short Term Municipal Bond ETF (SHM);
  • SPDR S&P VRDO Municipal Bond ETF (VRD).

The sub-advisory agreement, which has been approved by the board of trustees and shareholders for each SPDR ETF, will become effective on April 1. according to the announcement.

To ensure a seamless transition, Tim Ryan, lead portfolio manager of the municipal bond SPDR ETFs and a Unit Head for State Street Global Advisors’ Municipal Bond Group, will transition to Nuveen Asset Management as senior vice president. As of December 31, Nuveen managed nearly $70 billion in municipal bond securities.

State Street Global Advisors is one of the largest ETF providers globally with assets under management for SPDR ETFs totaling more than $204 billion as of December 31. 

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