State Street Global Advisors ( SSGA ), the asset management arm of US-based financial services group State Street, has joined with India’s largest model portfolios platform smallcase to feature SSGA’s SPDR exchange-traded funds ( ETFs ) on smallcase’s platform with the aim of broadening access for Indian investors seeking global investment exposures.
As well, SSGA will provide strategic support as smallcase plans for global expansion and explore ways in which State Street’s global wealth services can further that growth.
Smallcase, founded in 2015 and headquartered in Bangalore, gives individual investors, the company points out, access to “smallcases” or model portfolios – curated portfolios of stocks and ETFs – which are designed to make investing simple and accessible regardless of an investor’s experience or financial knowledge.
SSGA recently participated in smallcase’s US$50 million Series D funding round, marking the US asset manager first investment in the rapidly growing Indian asset and wealth management market.
“India remains a priority market for SSGA, and we are impressed by the innovation smallcase brings to the investment ecosystem,” says Yie-Hsin Hung, SSGA’s CEO. “This relationship and investment aligns with our strategy of collaborating with leading wealth technology firms to enhance investor ease of access, choice and experience [and…] further the adoption of wealthtech in India and improve individual investors’ seamless access to global investment solutions.”
Vasanth Kamath, smallcase co-founder and CEO, adds: “SSGA’s deep expertise, strong track record and global reach make this collaboration a crucial step in our expansion into the international wealth marketplace.”