State Street Global Advisors – which is the asset management business of State Street Corporation, announced a strategic investment in Raiz Invest Limited. Raiz is a leading Australian fintech platform that helps customers grow their wealth by helping them to save and invest.
The parties entered into an equity investment agreement as part of a strategic relationship under which State Street Global Advisors will buy about 5% of Raiz’s share capital through a placement.
This strategic relationship will see State Street Global Advisors’ trusted brand and deep knowledge of markets come together with Raiz’s mobile-first platform, helping Australian retail investors with micro-investments primarily in exchange-traded funds (ETF) and model portfolios. Utilizing State Street Global Advisors’ international library of resources, insights, and trends, Raiz customers will have access to a broader array of financial literacy content and investment education tools.
State Street Global Advisors’ SPDR S&P/ASX 200 Fund is currently the largest single fund holding in the model investment portfolios provided by Raiz to its customers. And the asset manager’s SPDR MSCI Australia Select High Dividend Yield Fund and SPDR S&P Global Dividend Fund are also available on Raiz.
KEY QUOTES:
“We are excited to expand our relationship with Raiz, a proven fintech leader in bringing important tools and educational resources to investors across the region. This strategic investment reinforces our strategy to join forces with wealth firms who share our commitment to help investors globally manage their investments and savings for retirement.”
- Yie-Hsin Hung, President and CEO for State Street Global Advisors
“This investment is a natural extension of the successful relationship we have enjoyed with Raiz since launch in 2016. Both of us share a passion for making financial tools and solutions accessible to all investors, and through this strategic arrangement we will leverage our respective capabilities to help Australian investors plan and save for retirement.”
- State Street Global Advisors Head of Intermediary Asia Pacific, Meaghan Victor
“From learning about investments in ETFs through to more complex investment strategies such as superannuation retirement portfolios, we look forward to continuing our relationship with State Street Global Advisors on educational tools for all stages of a customer lifecycle.”
“Raiz’s Australian customers, who range from beginners to experienced investors, will benefit significantly from the global resources that we can provide through this strategic arrangement. Between Raiz’s technology and State Street Global Advisors’ global investment capabilities and markets expertise, there are great opportunities for innovation in the Raiz product offering.”
• ⁃ Raiz Managing Director and CEO, Brendan Malone
