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
道富銀行全球資產管理部推出全球替代貝塔基金
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，道富銀行（紐約證券交易所：STT）的資產管理業務道富銀行全球資產管理宣佈推出道富銀行全球替代貝塔基金，該基金旨在以對沖基金作爲廣泛資產類別的近似回報。
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.
道富銀行全球替代貝塔基金參照HFR提供的HFRX全球對沖基金指數（「該指數」）進行管理。該指數代表了包括股權對沖、事件驅動、宏觀/商品交易顧問和相對價值套戥在內的廣泛對沖基金策略。它是對沖基金的廣泛認可基準，並代表着該資產類別。
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.
道富銀行全球替代貝塔基金旨在通過動態、基於因子的投資過程，大致模擬對沖基金的風險回報特徵，以很大程度上受各種市場暴露的驅動。該策略旨在確定最近驅動對沖基金回報的市場因素，並動態複製這些暴露。相比直接投資對沖基金，該策略增加了流動性，並通過系統性流程複製對沖基金貝塔回報來降低成本。
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.
這隻基金已在英國、愛爾蘭、荷蘭、盧森堡、瑞典、芬蘭、挪威和丹麥註冊，並從Quilter Investors獲得了1.23億英鎊的首次投資。
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.
道富銀行全球資產管理部有超過八年的對沖基金複製經驗，該基金的推出將使歐洲、中東和非洲地區的投資者更容易獲得該策略。其目標是以費用效益、流動性和透明性的方式使更廣泛的投資者可以更容易地進入該資產類別。
Sacha Chorley, Portfolio Manager at Quilter Investors, commented:
Quilter Investors投資組合經理Sacha Chorley評論說:
"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."
「我們很高興與道富銀行合作，爲我們的被動式多基金客戶提供替代方案的多元化效益。替代方案是我們投資組合構建的重要組成部分，因爲它們與現金和債券等更傳統的風險分散方式相輔相成，已被證明能夠降低多資產類別投資在波動市場中的跌幅風險。」
"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."
從歷史上看，替代品領域缺乏被動投資機會，而SSGA開發了一種獨特的複製方法，以最小的複雜性捕捉了替代品的本質。我們很高興與SSGA合作，爲我們的客戶提供這種創新解決方案。
Frédéric Dodard, EMEA Head of Multi-Asset Portfolio Management at State Street Global Advisors, commented:
State Street Global Advisors的多資產組合管理EMEA負責人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資者能夠通過可重複的投資過程和日常流動性獲得多樣化的對沖基金回報。這使我們的客戶可以以可擴展的方式進入這個資產類別，而不會受到傳統對沖基金投資所帶來的高成本或缺乏流動性的限制。
Kenneth Heinz, President at HFR, commented:
HFR總裁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."
隨着過去12個月地緣政治和宏觀經濟不確定性的增加，對沖基金的投資組合重要性由於多個因素而增加，許多機構投資者增加了對替代品的配置，既是對這些不斷增加的風險的回應，也是對史無前例的一代人的地緣政治風險的投資組合對沖機制。全球替代貝塔基金爲機構提供了一個投資組合工具來實施他們的替代品配置，提供對沖基金業績複製、容量和流動性，可以用於核心替代品暴露或作爲一種戰術投資組合補充或暴露替換工具。
END
結束
About State Street Global Advisors
四十年來，State Street Global Advisors 一直爲世界政府、機構和金融顧問服務。我們採用嚴謹、風險意識的方法，建立在研究、分析和市場測試經驗的基礎上，從衆多指數和主動策略中選擇建立成本有效的解決方案。作爲指數和 ETF 投資的先驅，我們不斷創新投資方式。結果，我們已成爲全球第四大資產管理公司*，管理着四萬三千四百億美元的資產。
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.
憑藉研究、分析和經過市場測試的嚴謹、風險意識的方法，State Street Global Advisors已爲全球政府、機構和財務顧問提供服務四十年。我們從多樣的指數和主動策略中積累經驗，創建了成本效益的解決方案。作爲指數和ETF投資的先驅，我們一直在創新投資方式。因此，我們已經成爲全球第四大資產管理公司*，在我們的管理下有4.37萬億美元†。
*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.
†此數字截至2024年6月30日，其中包括1,393.92億美元的ETF資產，其中約有693.5億美元是與道富銀行基金分銷商，LLC（SSGA FD）作爲營銷代理商一起管理的黃金資產。 SSGA FD和State Street Global Advisors是關聯公司。請注意，所有資產管理規模未經審計。
Important Disclosures:
重要披露：
Marketing Communication.
營銷通訊。
For press use only.
僅限媒體使用。
Investing involves risk including the risk of loss of principal.
投資涉及風險，包括可能造成本金損失的風險。
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.
全部或部分作品的複製、複製、傳輸或其任何內容的披露，未經SSGA明確書面同意，均不得進行。
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.
所有信息均來自道富銀行資產管理公司，除非另有說明，並且是從可靠來源獲得的。但不保證其準確性。並且，對於基於該信息作出的決策，不提供或保證其當前的準確性、可靠性或完整性，也不承擔任何責任。
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.
投資發展中國家或新興市場的風險可能比投資發達市場更大，流動性可能較低，涉及經濟結構通常較少且不夠成熟，以及比較發達國家的政治制度更加不穩定。
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.
與股票相比，債券通常呈現出較少的短期風險和波動性，但包含利率風險(隨着利率上漲，債券價格通常下跌)、發行人違約風險、發行人信用風險、流動性風險和通貨膨脹風險。這些影響在長期證券中通常更爲顯著。任何固定收益證券在到期前出售或贖回可能會面臨相當大的盈利或虧損。
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全球對沖基金指數和HFR是HFR Index的財務指數和/或商標和服務標誌。 ("HFR") 並且在HFR的許可下使用。 HFR與道富銀行或其關聯公司或其金融產品和基金無任何關係、聯繫或隸屬。 HFR沒有參與道富銀行任何金融產品的創建或形成，不支持、贊成或推薦投資於任何此類金融產品，對於與金融產品或基金有關的任何形式或性質的損害不承擔任何責任。
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.
所提供的信息不構成根據金融工具市場指令 (2014/65/EU) 或適用的瑞士監管的投資建議，並且不應依賴於此。不應視爲購買或出售任何投資的徵求意見。它不考慮任何投資者或潛在投資者的特定投資目標、策略、稅務地位、風險承受能力或投資期限。如果您需要投資建議，應諮詢您的稅務和財務或其他專業顧問。本通信是針對專業客戶 (包括適當的歐盟監管機構定義的合格交易對手) 的，他們被認爲在投資事宜上具有知識和經驗。本通信涉及的產品和服務僅適用於此類人士，其他任何類型的人士 (包括零售客戶) 不應依賴於此通信。
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:
在做出任何最終投資決策之前，請參閱該基金的最新關鍵信息文件(KID)/關鍵投資者信息文件(KIID)和招股說明書。最新英文版招股說明書、KID/KIID可在此找到。投資者權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.
請注意，管理公司可能決定終止市場營銷安排並依照2009/65/EC指令第93a條的規定進行撤銷登記。
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.
愛爾蘭：State Street Global Advisors Europe Limited受愛爾蘭中央銀行監管。註冊辦公地址：愛爾蘭都柏林Sir John Rogerson大道78號。註冊號碼：49934。電話：+353 (0)1 776 3000。傳真：+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.
荷蘭：State Street Global Advisors Netherlands，阿姆斯特丹Herikerbergweg 29，Apollo Building 7層。電話：+31 20 7181 000。State Street Global Advisors Netherlands是State Street Global Advisors Europe Limited在愛爾蘭註冊的分公司，受愛爾蘭中央銀行授權和監管，其註冊辦公地址位於愛爾蘭都柏林Sir John Rogerson大道78號。
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.
英國：State Street Global Advisors Limited。受英國金融行爲監管機構授權和監管。註冊於英格蘭。註冊號碼：2509928。增值稅號碼：5776591 81。註冊辦公地址：英國倫敦Canary Wharf，Churchill Place 20號。電話：020 3395 6000。傳真：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 .
對於瑞士投資者：在此提到的集合投資方案是根據愛爾蘭法律的集合投資方案。潛在投資者可以從瑞士代表和付款代理State Street Bank GmbH Munich，蘇黎世分行，Beethovenstrasse 19，8027蘇黎世，以及瑞士主要分銷商State Street Global Advisors AG，Beethovenstrasse 19，8027蘇黎世，免費獲取最新的銷售說明書、章程、簡化說明書以及最新的年度和半年度報告。在投資之前，請閱讀說明書和KID，可以從瑞士代表處或以下網址獲取副本。
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議或「投資研究」，根據金融工具市場指令（2014/65/EU）或適用的瑞士法規，被視爲「營銷通訊」。這意味着此營銷通訊 (a) 未按照旨在促進投資研究獨立性的法律要求進行準備 (b) 未受到任何在投資研究傳播前禁止交易的限制。
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到期日：2025年8月30日
譯文內容由第三人軟體翻譯。