State Street Global Advisors Launches Global Alternative Beta Fund
State Street Global Advisors Launches Global Alternative Beta Fund
State Street Global Advisors launches Global Alternative Beta fund
道富银行全球资产管理部推出全球替代贝塔基金
London September 12, 2024 – State Street Global Advisors, the asset management business of State Street Corporation (NYSE: STT) has announced the launch of the State Street Global Alternative Beta Fund, which seeks to approximate the returns of hedge funds as a broad asset class.
2024年9月12日，道富银行（纽约证券交易所：STT）的资产管理业务道富银行全球资产管理宣布推出道富银行全球替代贝塔基金，该基金旨在以对冲基金作为广泛资产类别的近似回报。
The State Street Global Alternative Beta Fund is managed in reference to the HFRX Global Hedge Fund Index ("the Index"), provided by HFR. The Index represents a broad range of hedge fund strategies including equity hedge, event driven, macro/commodity trading advisor and relative value arbitrage. It is a widely recognized benchmark for hedge funds and is representative of the asset class.
道富银行全球替代贝塔基金参照HFR提供的HFRX全球对冲基金指数（“该指数”）进行管理。该指数代表了包括股权对冲、事件驱动、宏观/商品交易顾问和相对价值套利在内的广泛对冲基金策略。它是对冲基金的广泛认可基准，并代表着该资产类别。
The State Street Global Alternative Beta Fund aims to approximate hedge funds' beta returns driven, to a large extent, by various market exposures and approximate the risk-return profile of the asset class through a dynamic, factor-based investment process. The strategy aims to determine which market factors have been driving hedge fund returns recently and dynamically replicates those exposures. This strategy increases liquidity relative to directly investing in hedge funds, and by replicating hedge fund beta returns through a systematic process, costs are reduced.
道富银行全球替代贝塔基金旨在通过动态、基于因子的投资过程，大致模拟对冲基金的风险回报特征，以很大程度上受各种市场暴露的驱动。该策略旨在确定最近驱动对冲基金回报的市场因素，并动态复制这些暴露。相比直接投资对冲基金，该策略增加了流动性，并通过系统性流程复制对冲基金贝塔回报来降低成本。
The fund, which is registered in the UK, Ireland, Netherlands, Luxembourg, Sweden, Finland, Norway and Denmark, has been seeded with an initial £123m investment from Quilter Investors.
这只基金已在英国、爱尔兰、荷兰、卢森堡、瑞典、芬兰、挪威和丹麦注册，并从Quilter Investors获得了1.23亿英镑的首次投资。
State Street Global Advisors has over eight years of experience in hedge fund replication and the launch of the fund will allow investors across EMEA to access the strategy more easily. The aim is to make the asset class more accessible to a wider range of investors, in a cost-efficient, liquid and transparent manner.
道富银行全球资产管理部有超过八年的对冲基金复制经验，该基金的推出将使欧洲、中东和非洲地区的投资者更容易获得该策略。其目标是以费用效益、流动性和透明性的方式使更广泛的投资者可以更容易地进入该资产类别。
Sacha Chorley, Portfolio Manager at Quilter Investors, commented:
Quilter Investors投资组合经理Sacha Chorley评论说:
"We're pleased to partner with SSGA to offer our passive fund of fund clients access to the diversification benefits of alternatives. Alternatives are a key component of our portfolio construction, as they complement more traditional risk diversifiers of cash and bonds and have proven to reduce the drawdown risk of multi-asset investments in volatile markets."
“我们很高兴与道富银行合作，为我们的被动式多基金客户提供替代方案的多元化效益。替代方案是我们投资组合构建的重要组成部分，因为它们与现金和债券等更传统的风险分散方式相辅相成，已被证明能够降低多资产类别投资在波动市场中的跌幅风险。”
"Historically, there has been a lack of availability of passive exposures of the alternatives universe, and SSGA has developed a unique replication methodology that captures the essence of the alternatives universe with minimal complexity. We are excited to work with SSGA to bring this innovative solution to our clients."
从历史上看，替代品领域缺乏被动投资机会，而SSGA开发了一种独特的复制方法，以最小的复杂性捕捉了替代品的本质。我们很高兴与SSGA合作，为我们的客户提供这种创新解决方案。
Frédéric Dodard, EMEA Head of Multi-Asset Portfolio Management at State Street Global Advisors, commented:
State Street Global Advisors的多资产组合管理EMEA负责人Frédéric Dodard表示：
"This new fund launch gives investors exposure to a diversified set of hedge fund returns through a repeatable investment process and daily liquidity. This allows our clients to access this asset class in a scalable way and without the traditional constraints typically associated with hedge fund investing, such as high costs or illiquidity."
此次新基金的推出使投资者能够通过可重复的投资过程和日常流动性获得多样化的对冲基金回报。这使我们的客户可以以可扩展的方式进入这个资产类别，而不会受到传统对冲基金投资所带来的高成本或缺乏流动性的限制。
Kenneth Heinz, President at HFR, commented:
HFR总裁Kenneth Heinz表示：
"As both geopolitical and macroeconomic uncertainty have increased over the past 12 months, the portfolio significance of hedge funds has increased due to multiple factors, with many institutional investors increasing their exposure to alternatives both in response to these increasing risks and as a portfolio hedging mechanism against unprecedented generational geopolitical risk. The Global Alternative Beta Fund presents institutions with a portfolio tool to implement their alternatives portfolio allocations, offering hedge fund performance replication, capacity and liquidity, which can be implemented either for core alternatives exposure or as a tactical portfolio complement or exposure replacement tool."
随着过去12个月地缘政治和宏观经济不确定性的增加，对冲基金的投资组合重要性由于多个因素而增加，许多机构投资者增加了对替代品的配置，既是对这些不断增加的风险的回应，也是对史无前例的一代人的地缘政治风险的投资组合对冲机制。全球替代贝塔基金为机构提供了一个投资组合工具来实施他们的替代品配置，提供对冲基金业绩复制、容量和流动性，可以用于核心替代品暴露或作为一种战术投资组合补充或暴露替换工具。
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About State Street Global Advisors
四十年来，State Street Global Advisors 一直为世界政府、机构和金融顾问服务。我们采用严谨、风险意识的方法，建立在研究、分析和市场测试经验的基础上，从众多指数和主动策略中选择建立成本有效的解决方案。作为指数和 ETF 投资的先驱，我们不断创新投资方式。结果，我们已成为全球第四大资产管理公司*，管理着四万三千四百亿美元的资产。
For four decades, State Street Global Advisors has served the world's governments, institutions, and financial advisors. With a rigorous, risk-aware approach built on research, analysis, and market-tested experience, we build from a breadth of index and active strategies to create cost-effective solutions. As pioneers in index and ETF investing, we are always inventing new ways to invest. As a result, we have become the world's fourth-largest asset manager* with US $4.37 trillion† under our care.
凭借研究、分析和经过市场测试的严谨、风险意识的方法，State Street Global Advisors已为全球政府、机构和财务顾问提供服务四十年。我们从多样的指数和主动策略中积累经验，创建了成本效益的解决方案。作为指数和ETF投资的先驱，我们一直在创新投资方式。因此，我们已经成为全球第四大资产管理公司*，在我们的管理下有4.37万亿美元†。
*Pensions & Investments Research Center, as of 12/31/23.
*Pensions & Investments 研究中心，截至2023年12月31日。
†This figure is presented as of June 30, 2024 and includes ETF AUM of $1,393.92 billion USD of which approximately $69.35 billion USD is in gold assets with respect to SPDR products for which State Street Global Advisors Funds Distributors, LLC (SSGA FD) acts solely as the marketing agent. SSGA FD and State Street Global Advisors are affiliated. Please note all AUM is unaudited.
†此数字截至2024年6月30日，其中包括1,393.92亿美元的ETF资产，其中约有693.5亿美元是与道富银行基金分销商，LLC（SSGA FD）作为营销代理商一起管理的黄金资产。 SSGA FD和State Street Global Advisors是关联公司。请注意，所有资产管理规模未经审计。
Important Disclosures:
重要披露：
Marketing Communication.
营销通讯。
For press use only.
仅限媒体使用。
Investing involves risk including the risk of loss of principal.
投资涉及风险，包括可能造成本金损失的风险。
The whole or any part of this work may not be reproduced, copied or transmitted or any of its contents disclosed to third parties without SSGA's express written consent.
全部或部分作品的复制、复制、传输或其任何内容的披露，未经SSGA明确书面同意，均不得进行。
All information is from SSGA unless otherwise noted and has been obtained from sources believed to be reliable, but its accuracy is not guaranteed. There is no representation or warranty as to the current accuracy, reliability or completeness of, nor liability for, decisions based on such information and it should not be relied on as such.
所有信息均来自道富银行资产管理公司，除非另有说明，并且是从可靠来源获得的。但不保证其准确性。并且，对于基于该信息作出的决策，不提供或保证其当前的准确性、可靠性或完整性，也不承担任何责任。
Investments in emerging or developing markets may be more volatile and less liquid than investing in developed markets and may involve exposure to economic structures that are generally less diverse and mature and to political systems which have less stability than those of more developed countries.
投资发展中国家或新兴市场的风险可能比投资发达市场更大，流动性可能较低，涉及经济结构通常较少且不够成熟，以及比较发达国家的政治制度更加不稳定。
Bonds generally present less short-term risk and volatility than stocks, but contain interest rate risk (as interest rates raise, bond prices usually fall); issuer default risk; issuer credit risk; liquidity risk; and inflation risk. These effects are usually pronounced for longer-term securities. Any fixed income security sold or redeemed prior to maturity may be subject to a substantial gain or loss.
与股票相比，债券通常呈现出较少的短期风险和波动性，但包含利率风险(随着利率上涨，债券价格通常下跌)、发行人违约风险、发行人信用风险、流动性风险和通货膨胀风险。这些影响在长期证券中通常更为显著。任何固定收益证券在到期前出售或赎回可能会面临相当大的盈利或亏损。
The HFRX Global Hedge Fund Index and HFR are financial indexes of and/or the trademarks and service marks of HFR Index. ("HFR") and are used under license from HFR. HFR is not in any way related or connected to or affiliated with State Street Global Advisors any of its related or affiliated companies or their financial products and funds. HFR has not participated in the creation or formation of any financial product of State Street Global Advisors does not endorse, approve or recommend investing in any such financial products, and is not liable for any damages of any kind or nature relating to the financial products or funds.
HFRX全球对冲基金指数和HFR是HFR Index的财务指数和/或商标和服务标志。 ("HFR") 并且在HFR的许可下使用。 HFR与道富银行或其关联公司或其金融产品和基金无任何关系、联系或隶属。 HFR没有参与道富银行任何金融产品的创建或形成，不支持、赞成或推荐投资于任何此类金融产品，对于与金融产品或基金有关的任何形式或性质的损害不承担任何责任。
The information provided does not constitute investment advice as such term is defined under the Markets in Financial Instruments Directive (2014/65/EU) or applicable Swiss regulation and it should not be relied on as such. It should not be considered a solicitation to buy or an offer to sell any investment. It does not take into account any investor's or potential investor's particular investment objectives, strategies, tax status, risk appetite or investment horizon. If you require investment advice you should consult your tax and financial or other professional advisor. This communication is directed at professional clients (this includes eligible counterparties as defined by the appropriate EU regulator) who are deemed both knowledgeable and experienced in matters relating to investments. The products and services to which this communication relates are only available to such persons and persons of any other description (including retail clients) should not rely on this communication.
所提供的信息不构成根据金融工具市场指令 (2014/65/EU) 或适用的瑞士监管的投资建议，并且不应依赖于此。不应视为购买或出售任何投资的征求意见。它不考虑任何投资者或潜在投资者的特定投资目标、策略、税务地位、风险承受能力或投资期限。如果您需要投资建议，应咨询您的税务和财务或其他专业顾问。本通信是针对专业客户 (包括适当的欧盟监管机构定义的合格交易对手) 的，他们被认为在投资事宜上具有知识和经验。本通信涉及的产品和服务仅适用于此类人士，其他任何类型的人士 (包括零售客户) 不应依赖于此通信。
Please refer to the Fund's latest Key Information Document (KID)/Key Investor Information Document (KIID) and Prospectus before making any final investment decision. The latest English version of the prospectus and the KID/KIID can be found at . A summary of investor rights can be found here:
在做出任何最终投资决策之前，请参阅该基金的最新关键信息文件(KID)/关键投资者信息文件(KIID)和招股说明书。最新英文版招股说明书、KID/KIID可在此找到。投资者权利的摘要可在此找到：
Note that the Management Company may decide to terminate the arrangements made for marketing and proceed with de-notification in compliance with Article 93a of Directive 2009/65/EC.
请注意，管理公司可能决定终止市场营销安排并依照2009/65/EC指令第93a条的规定进行撤销登记。
Ireland: State Street Global Advisors Europe Limited is regulated by the Central Bank of Ireland. Registered office address 78 Sir John Rogerson's Quay, Dublin 2. Registered Number: 49934. T: +353 (0)1 776 3000. F: +353 (0)1 776 3300.
爱尔兰：State Street Global Advisors Europe Limited受爱尔兰中央银行监管。注册办公地址：爱尔兰都柏林Sir John Rogerson大道78号。注册号码：49934。电话：+353 (0)1 776 3000。传真：+353 (0)1 776 3300。
Netherlands: State Street Global Advisors Netherlands, Apollo Building 7th floor, Herikerbergweg 29, 1101 CN Amsterdam, Netherlands. T: +31 20 7181 000. State Street Global Advisors Netherlands is a branch office of State Street Global Advisors Europe Limited, registered in Ireland with company number 49934, authorised and regulated by the Central Bank of Ireland, and whose registered office is at 78 Sir John Rogerson's Quay, Dublin 2.
荷兰：State Street Global Advisors Netherlands，阿姆斯特丹Herikerbergweg 29，Apollo Building 7层。电话：+31 20 7181 000。State Street Global Advisors Netherlands是State Street Global Advisors Europe Limited在爱尔兰注册的分公司，受爱尔兰中央银行授权和监管，其注册办公地址位于爱尔兰都柏林Sir John Rogerson大道78号。
United Kingdom: State Street Global Advisors Limited. Authorised and regulated by the Financial Conduct Authority. Registered in England. Registered No. 2509928. VAT No. 5776591 81. Registered office: 20 Churchill Place, Canary Wharf, London, E14 5HJ. T: 020 3395 6000. F: 020 3395 6350.
英国：State Street Global Advisors Limited。受英国金融行为监管机构授权和监管。注册于英格兰。注册号码：2509928。增值税号码：5776591 81。注册办公地址：英国伦敦Canary Wharf，Churchill Place 20号。电话：020 3395 6000。传真：020 3395 6350。
For Investors in Switzerland: The collective investment scheme referred to herein is a collective investment scheme under Irish law. Prospective investors may obtain the current sales prospectus, the articles of incorporation, the simplified prospectuses as well as the latest annual and semi-annual report free of charge from the Swiss Representative and Paying agent, State Street Bank GmbH Munich, Zurich Branch, Beethovenstrasse 19, 8027 Zurich as well as from the main distributor in Switzerland, State Street Global Advisors AG, Beethovenstrasse 19, 8027 Zurich. Before investing please read the prospectus and the KID, copies of which can be obtained from the Swiss representative, or at or .
对于瑞士投资者：在此提到的集合投资方案是根据爱尔兰法律的集合投资方案。潜在投资者可以从瑞士代表和付款代理State Street Bank GmbH Munich，苏黎世分行，Beethovenstrasse 19，8027苏黎世，以及瑞士主要分销商State Street Global Advisors AG，Beethovenstrasse 19，8027苏黎世，免费获取最新的销售说明书、章程、简化说明书以及最新的年度和半年度报告。在投资之前，请阅读说明书和KID，可以从瑞士代表处或以下网址获取副本。
The information contained in this communication is not a research recommendation or 'investment research' and is classified as a 'Marketing Communication' in accordance with the Markets in Financial Instruments Directive (2014/65/EU) or applicable Swiss regulation. This means that this marketing communication (a) has not been prepared in accordance with legal requirements designed to promote the independence of investment research (b) is not subject to any prohibition on dealing ahead of the dissemination of investment research.
此通信中包含的信息不是研究建议或“投资研究”，根据金融工具市场指令（2014/65/EU）或适用的瑞士法规，被视为“营销通讯”。这意味着此营销通讯 (a) 未按照旨在促进投资研究独立性的法律要求进行准备 (b) 未受到任何在投资研究传播前禁止交易的限制。
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Tracking number: 6959099.1.1.EMEA.RTL
Expiration date: 30 August 2025
跟踪号码：6959099.1.1.EMEA.RTL
到期日：2025年8月30日