Shares of State Street Corp (NYSE:STT) ended Monday session in red amid volatile trading. The shares closed down -0.27 points or -0.39% at $69.02 with 3.44 million shares getting traded. Post opening the session at $69.76, the shares hit an intraday low of $68.99 and an intraday high of $70.67 and the price vacillated in this range throughout the day. The company has a market cap of $26.51 billion and the numbers of outstanding shares have been calculated to be 390.02 million shares.
On September 19, 2016 State Street Global Advisors (SSGA), the asset management business of State Street Corporation (STT), announced the expansion of its smart beta solutions with a new fixed income smart beta strategy that aims to capture maximum returns in the current climate of rising rates and increased fixed income volatility. SSGA’s fixed income smart beta strategies give institutional investors more control over their investment objectives by moving beyond traditionally weighted benchmarks and generating results through exposure to credit, term or liquidity factor premia.
“Our fixed income strategy has evolved from a one-factor screen to a multi-factor framework featuring research based factor definitions, dynamic weighting and continuous portfolio reweighting as factor exposures change,” said Lori Heinel, deputy chief investment officer and chief portfolio strategist at State Street Global Advisors. “SSGA’s fixed income smart beta solution can both improve returns and decrease volatility by isolating factors with greater precision.”
While smart beta has been employed for decades with equities to pursue better risk-adjusted returns, investors have been slower to adopt these strategies on the fixed income side. However, results from smart beta strategies have proven to be even stronger for fixed income, as neither a passive or active approach achieves fixed income investment objectives. As fixed income investors are typically positioned around duration, credit, term, and liquidity in every investment, factor based investing is a natural fit for fixed income.
“SSGA has a history in identifying the systematic sources of variation in fixed income returns; and its large size and scale makes it well positioned to capture returns in a cost efficient, transparent way,” said Ritirupa Samanta, managing director, global head of systematic fixed income at State Street Global Advisors. “Our market leading position managing $350 billion in passive global fixed income also allows for the management of investments through constrained liquidity and issuance environments, two of the biggest challenges of investing in fixed income.”
Shares of American Express Company (NYSE:AXP) ended Monday session in green amid volatile trading. The shares closed up +0.40 points or 0.63% at $64.06 with 3.39 million shares getting traded. Post opening the session at $63.96, the shares hit an intraday low of $63.67 and an intraday high of $64.58 and the price vacillated in this range throughout the day. The company has a market cap of $59.02 billion and the numbers of outstanding shares have been calculated to be 923.78 million shares.
On August 31, 2016 With a shared focus on exceptional service and innovative solutions for the business and leisure traveler, American Express and Delta Private Jets have joined forces to offer a new suite of travel benefits opening a new gateway of custom travel opportunities for select Card Members.
The new Premium Private Jet Program offers a reduced fee for Platinum Card Members who purchase the Delta Private Jets Card Membership, as well as a wide range of other benefits offering control, convenience and style in the air.
“Our Card Members love to travel, and they depend on us to not only make their journey more comfortable, but also make travel more seamless,” said Janey Whiteside, SVP Charge and Benefits for American Express. “Partnering with Delta Private Jets opens up one of the most premium travel experiences for our most jet-setting Card Members, giving them access to a custom, private travel experience at a value and with benefits available only with their Platinum or higher level Card.”
David Sneed, Executive Vice President and Chief Operating Officer of Delta Private Jets, noted, “At Delta Private Jets, we are focused on exceeding the expectations of every traveler, before, during and after their flight. We welcome this opportunity to deliver an outstanding benefit and experience for American Express Card Members with the new Premium Private Jet Program.”