Summary of State Street's Conference Call Company Overview - **Company**: State Street - **Industry**: Asset servicing and asset management - **Assets**: Approximately $52 trillion in assets under custody and administration, and $5.5 trillion in assets under management [1][1] Key Points and Arguments 2026 Strategic Priorities - **Financial Delivery**: Emphasis on meeting financial commitments and expectations [3][3] - **Balance Sheet Optimization**: Focus on improving efficiency and growing Net Interest Income (NII) over time [4][4] - **Expense Management**: Continued efforts to manage expenses and enhance productivity [5][5] - **Partnerships**: Collaborating with business leaders to drive strategic initiatives [5][5] Fee Revenue and Sales Momentum - **Investment Servicing Growth**: Anticipated fee growth of $350-$400 million, with a strong sales momentum [7][7] - **Backlog Quality**: Improvement in the backlog, particularly in back office and private markets, which are expected to drive future growth [11][11] Private Markets - **Growth Area**: Significant focus on private markets, with expectations of double-digit growth in fees for 2026 [13][13][14][14] - **Competitive Advantage**: State Street's global platform and capabilities provide a competitive edge in the fragmented private market space [13][13] Wealth Servicing - **Strategic Partnerships**: Recent partnerships with UC Investments and Apex Fintech Solutions to enhance wealth servicing capabilities [15][15][18][18] - **Market Opportunity**: Positioned to capture growth from the demographic shift and wealth transfer from Baby Boomers [16][16] Digital Assets - **Digital Asset Platform**: Launching a digital asset platform imminently, with plans to introduce tokenized products, starting with a tokenized money market fund [20][20][21][21] - **Future Opportunities**: Exploring the potential for custody of stablecoins and tokenization of traditional assets [22][22][24][24] Investment Management - **Growth Contributors**: Focus on ETFs, geographic expansion, and partnerships with alternative asset managers [28][28][30][30] - **Private Market Initiatives**: Launching new products in collaboration with Apollo and Bridgewater, and focusing on the secondary market with Coller [32][32][34][34] Financial Performance and Outlook - **Q4 Expectations**: Anticipated fee revenue to be at the upper end of the 8.5%-9% range, with NII expected to be flat to slightly up [36][36][38][38] - **Expense Management**: Projected expenses to approach 5%, with notable items around $275 million for the quarter [39][39][41][41] - **Capital Returns**: Expecting around 80% capital return in 2025, with a focus on dividends, organic growth, and strategic investments [57][57][59][59] Balance Sheet and NII Strategy - **Balance Sheet Optimization**: Focus on deploying capital into strong customer relationships and improving risk-adjusted returns [46][46][48][48] - **Funding Mix**: Evaluating the mix of deposits and wholesale funding to enhance NII [51][51][53][53] Conclusion - **Long-term Growth Outlook**: State Street is well-positioned for growth in various segments, including private markets, wealth servicing, and digital assets, with a strong focus on operational efficiency and strategic partnerships [63][63]

Boston, Massachusetts-based State Street Corporation (STT) provides a range of financial products and services to various types of investors worldwide. With a market cap of $34.7 billion, State Street serves asset managers, retirement plan providers, insurance companies, foundations, and more. Companies worth $10 billion or more are generally described as "large-cap stocks." State Street fits right into that category, with its market cap exceeding this threshold, reflecting its substantial size, influence ...

State Street Corp. (NYSE:STT) , the issuer behind the massive SPDR S&P 500 ETF Trust (NYSE:SPY) , has seen its fundamental “Quality” ranking deteriorate into the bottom decile this week.Check out STT’s stock price here.Quality Score Hits Bottom 10%The drop in operational scoring comes as reports surface that the Donald Trump administration is exploring executive orders that could curtail the voting power of major index fund managers.According to the latest Benzinga Edge’s Stock Rankings data, State Street's ...

2025 年 12 月 08 日 亚太新兴市场产品中中国产品表现 出色 ——海外创新产品周报 20251208 相关研究 证券分析师 沈思逸 A0230521070001 shensy@swsresearch.com 邓虎 A0230520070003 denghu@swsresearch.com 联系人 沈思逸 A0230521070001 shensy@swsresearch.com 权 益 量 化 研 究 证 券 研 究 报 告 请务必仔细阅读正文之后的各项信息披露与声明 本研究报告仅通过邮件提供给 博时基金 博时基金管理有限公司(researchreport@bosera.com) 使用。1 ETP 研 究 - ⚫ 美国 ETF 创新产品： Horizon 发行多只主动 ETF。上周美国共 23 只新发产品，数字货 币、单股票产品继续发行。Horizon 上周发行 3 只产品，分别投向国际股票和美国中小 盘股票，另有一只控制风险的国际股票产品，这些产品都使用基于价值、动量、质量的量 化方法，控制风险的产品会根据风控模型适当转向货币降低风险；3 只产品都会通过期权 价差策略来增厚收益。 ⚫ 美国 ETF ...

State Street is deepening its expansion in Saudi Arabia as it looks to cash in on booming demand for exchange-traded funds https://t.co/mtsBFxl7zb ...

In the current session, the stock is trading at $120.66, after a 1.38% spike. Over the past month, State Street Inc. (NYSE:STT) stock increased by 3.22%, and in the past year, by 22.37%. With performance like this, long-term shareholders are optimistic but others are more likely to look into the price-to-earnings ratio to see if the stock might be overvalued.Evaluating State Street P/E in Comparison to Its PeersThe P/E ratio measures the current share price to the company's EPS. It is used by long-term inve ...

Group 1 - The global ETF industry is valued at $19 trillion, with a significant influx of capital into ETFs, totaling $42 billion in the last week alone, which is double the pace of the year [2][3] - Vanguard is leading the way in ETF inflows, with $120 billion this year, contributing to a record $350 billion for the company [4] - Money market funds are gaining traction, with $4.5 trillion in assets, and they represent almost half of the entire ETF industry [6][7] Group 2 - Capital Group has crossed $100 billion in assets under management in the active ETF space, driven by investor demand for high-quality active management [8][10] - There is a growing preference for active management in ETFs, particularly in the U.S. equity market, where active funds are showing value [10][12] - Capital Group manages over $3.2 trillion in assets, with a significant portion in retirement portfolios, indicating a strong focus on long-term investment strategies [16][17] Group 3 - State Street Investment Management is exploring the impact of dual share classes in the ETF industry, aiming to launch mutual fund share classes of existing ETFs [29][31] - The company is also focused on retail demand for private assets, emphasizing the importance of liquidity and income in the private credit market [27][28] - There are concerns about the industry's preparedness for an influx of new ETFs and the associated market-making challenges [22][23]

Core Insights - State Street Corporation will present at the Goldman Sachs 2025 Financial Services Conference on December 10, 2025, at approximately 9:20 am ET [1] - An audio webcast of the event will be available on State Street's Investor Relations website, with a recorded replay accessible for approximately ninety days [2] - As of September 30, 2025, State Street has $51.7 trillion in assets under custody and/or administration and $5.4 trillion in assets under management [3][4] Company Developments - State Street Investment Management announced share splits for five Select Sector SPDR ETFs, which will decrease share prices and increase the number of outstanding shares, effective for shareholders of record as of December 2, 2025 [6] - The company launched the State Street® SPDR® S&P® Leveraged Loan ETF (LVLN), which has a gross expense ratio of 0.40%, making it the lowest-cost leveraged loan ETF available in the U.S. [7] - State Street Investment Management plans to close and liquidate several ETFs based on an ongoing review of its offerings [8]

Core Insights - Investing in the US dollar-denominated high-yield bond sector can be easily achieved through the State Street SPDR Portfolio High Yield Bond ETF (SPHY) [1] Group 1 - The SPDR Portfolio High Yield Bond ETF (SPHY) is highlighted as a straightforward investment option for gaining exposure to high-yield bonds [1]

Core Insights - State Street Corporation (NYSE:STT) is a prominent financial services company specializing in investment management, research, and trading services, competing with major firms like BlackRock and Vanguard [1] - The company recently launched the State Street® SPDR® S&P® Leveraged Loan ETF (LVLN), which offers a low gross expense ratio of 0.40%, making it the most cost-effective leveraged loan ETF in the U.S. [2] - The current stock price of STT is $113.44, reflecting a slight increase of 0.21%, with a trading range today between $113 and $114.01 [3] - State Street's market capitalization is approximately $31.69 billion, indicating its significant presence in the financial services sector [4][5] - The trading volume on the NYSE for State Street is 126,393 shares, suggesting active investor interest [4]