State Street Global Advisors announces strategic partnership with smallcase
State Street Global Advisors (SSGA), the asset management arm of State Street Corporation (NYSE:STT), announced a strategic relationship with smallcase, India’s largest model portfolios platform.
The collaboration is part of SSGA’s strategic investment in smallcase announced recently.
The relationship will offer SSGA a strategic distribution opportunity for its SPDR ETFs by being featured on smallcase’s platform technology to broaden access for Indian investors seeking global investment exposures. SSGA will provide strategic support as smallcase plans for global expansion and explore ways in which State Street Corporation’s global wealth services can further that growth.
“India remains a priority market for SSGA, and we are impressed by the innovation smallcase brings to the investment ecosystem,” said Yie-Hsin Hung, CEO of SSGA. “This relationship and investment aligns with our strategy of collaborating with leading wealth technology firms to enhance investor ease of access, choice and experience. Together with smallcase, we are excited to further the adoption of wealth-tech in India and improve individual investors’ seamless access to global investment solutions.”
Founded in 2015 and headquartered in Bangalore, smallcase gives individual investors access to “smallcases” or model portfolios—curated portfolios of stocks and ETFs. Designed to make investing simple and accessible regardless of investor’s experience or financial knowledge, $16B+ has been transacted in smallcases since inception.
Speaking on the announcement, Vasanth Kamath, Co-founder and CEO, smallcase said, “Our new strategic relationship with State Street Global Advisors marks a significant milestone in our journey to offer global equities exposure to our users. SSGA’s deep expertise, strong track record, and global reach make this collaboration a crucial step in our expansion into the international wealth marketplace. We are also excited to have SSGA join as a shareholder in our mission to help more investors design better financial outcomes.”
SSGA recently participated in smallcase’s $50M Series D funding round. This marks its first investment in the rapidly growing Indian asset and wealth management market.