State Street Global Advisors, the investment management arm of State Street, has launched US Community Investing Index strategy, an offering that seeks to match the returns and characteristics of the US Community Investing Index (USCII).
The underlying investment approach for SSgA’s US Community Investing Index strategy is to buy and hold securities with the aim to minimize turnover and transaction costs, trading only when the composition of the index changes or when cash flow activity occurs in the strategy.
Arlene Rockefeller, executive vice president and global equities CIO at State Street Global Advisors, said: “We are pleased to be the exclusive provider of an investment strategy that tracks the US Community Investing Index. The USCII’s composition and tight historical tracking to the S&P 500 make our new offering a compelling option for a wide range of institutional investors who are seeking a passively-managed environmental, social and governance (ESG)-related solution with low-cost implementation.”
