State Street Global Advisors Takes Strategic Stake in Leading Australian Fintech Platform Raiz
Summary
The parties have entered into an equity investment agreement (the Initial Share Purchase) as part of a strategic relationship pursuant to which State Street Global Advisors will acquire approximately 5 percent of Raizs share capital through a placement.In addition, the strategic relationship will see State Street Global Advisors trusted brand and deep knowledge of markets come together with Raizs mobile-first platform, which helps Australian retail investors with micro-investments primarily in exchange-traded funds (ETF) and model portfolios. Both of us share a passion for making financial tools and solutions accessible to all investors, and through this strategic arrangement we will leverage our respective capabilities to help Australian investors plan and save for retirement.Raiz Managing Director and CEO, Brendan Malone, said the strategic relationship would see Raiz and State Street Global Advisors work more closely together to create innovative savings and investment insights and education for customers. 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. You should seek professional advice and consider the product disclosure statement and target market determination, available at www.ssga.com/au , before deciding whether to acquire or continue to hold units in an ETF. SPDR products are not sponsored, endorsed, sold or promoted by any of these entities and none of these entities bear any liability with respect to the ETFs or make any representation, warranty or condition regarding the advisability of buying, selling or holding units in the ETFs issued by State Street Global Advisors, ASL.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, ASLs express written consent.