State Street Global Advisors (SSGA) has been selected as the first index manager for the Asset Management Exchange's (AMX) passive funds.
The fund manager will launch two investment strategies with the platform: global equity, and global adaptive capped ESG. The global equity fund will track the MSCI world index while the adaptive capped ESG fund will track an ESG universal index in the MSCI all county world series.
The funds will be managed by SSGA while being owned, administered and branded by AMX.
Both will include high levels of governance and stewardship, providing investors with active influence over the companies they are invested in.
SSGA head of UK institutional Jenny Yoe said: "We believe the economies of scale we can offer will significantly reduce costs and increase operational efficiencies for our clients.
"Investors committed to responsible asset stewardship and ESG can now select strategies matching their investment goals on the AMX platform."
AMX chief executive Oliver Jaegemann added: "There has been a growing demand from institutional investors to be more proactive stewards in the assets they own due to the impact of certain ESG risks on their investment portfolios.
"We are meeting this demand by providing our first passive equity funds at a very accessible price pint and with high governance standards."
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