State Street Global Advisors (SSGA), the asset management business of State Street Corporation (NYSE: STT), has announced substantial growth in the adoption of its proxy voting choice program, enabling investors to direct the voting of shares held within their funds.
Launched in 2023, the program now offers global investors access to up to 11 non-SSGA voting policies, covering over 80% of eligible index equity assets, totaling approximately $1.9 trillion in assets under management.
A recent study of program data reveals a 63% increase in usage, measured by assets under management, specifically among US exchange-traded fund (ETF) and mutual fund investors in the first quarter of 2025. This growth reflects over 25,000 US ETF and mutual fund shareholders opting into the program.
Furthermore, more than 60 institutional clients have adopted the program, accounting for approximately 12% of SSGA’s eligible institutional assets under management. The program has also expanded its reach in Europe, with over 146,000 new investors subscribing to a pilot program for certain Irish SPDR ETFs, marking its first offering for retail funds in the region.
The proxy voting choice program initially launched for specific institutional funds in the US and UK. Later in 2023, it expanded to include a number of US ETFs and US mutual funds, and subsequently to certain European funds. For the 2025 proxy voting season, SSGA enhanced the program by adding new voting policy choices, including those available through Egan-Jones and Glass Lewis. A Bowyer Research voting policy has also been introduced for SSGA’s US government entity clients. Currently, over 600 funds are included in the program, encompassing US ETFs, US mutual funds, UK Managed Pension funds, UK Authorised Unit Trust, UK Authorised Contractual Scheme funds, and certain Luxembourg SICAVs.
Yie-Hsin Hung, President and CEO of State Street Global Advisors, commented on the program’s success, stating, “State Street Global Advisors has long been a pioneer in providing investors access to the world’s markets. Empowering them to choose how to vote the shares held in their funds is part of our commitment to deliver long-term value creation for our clients, and through the expansion of our program’s policies and regions, we’re delivering on that promise.” Hung added, “It’s gratifying to see the data demonstrate the adoption of our innovative approach. It’s a testament to how important participation in proxy voting is to our clients. Our goal is to give the greatest number of investors the most opportunities, in as many asset classes as possible, to choose how to vote the shares held in funds they are invested in.”
State Street Global Advisors, with four decades of service to governments, institutions, and financial advisors, is recognized for its rigorous, risk-aware approach to asset management. A pioneer in index and ETF investing, it manages US $4.72 trillion in assets as of December 31, 2024, ranking as the world’s fourth-largest asset manager.
