State Street Teams with Kensho Technologies to Develop Products in Cutting-Edge Industries
NEC member State Street Corporation recently partnered with Cambridge-based artificial intelligence (AI) firm Kensho Technologies to develop three products that track some of today’s most innovative, cutting-edge industries.
From a product that invests in companies that contribute to the commercialization of outer space and deep-sea exploration, to one that tracks clean-energy generators and the tech firms that support them, to one that gives investors exposure to 16 different “new economy” industries, this initiative puts State Street at the frontier of industry development. Together, these three funds have amassed just over $20 million in total net assets.
Noel Archard, global head of S&P Depository Receipts (SPDR) Product at State Street Global Advisors, said, “Today’s technological innovations are not only changing the way we live and work, but are also creating actionable growth opportunities for investors, much like how the rise of personal computers spawned a new era of disruption. With [this] addition of sector and industry ETFs, investors can access the potential for dynamic growth and economic disruption across infrastructure, transportation, cybersecurity, defense, energy, space exploration and more, all in a single trade.”
The NEC commends State Street on their continued commitment to technological advancement and congratulates them on this exciting new partnership.