State Street Global Advisors has launched an actively managed exchange-traded fund that invests in municipal bonds according to environmental, social and governance standards, the SPDR Nuveen Municipal Bond ESG ETF.
The fund is designed to invest in municipal securities from issuers that are leaders in their sector at delivering environmental, social and governance outcomes or whose proceeds are used for positive environmental or social projects.
The fund will trade under the ticker MBNE and will invest in investment-grade, tax-exempt municipal bonds that mature in two to 17 years.
SSGA Funds Management Inc. serves as investment adviser to the fund and Nuveen Asset Management serves as investment sub-adviser. Nuveen is a unit of TIAA.
Elsewhere, Wells Fargo Advisors adds a $400 million Morgan Stanley veteran in Naples as an ex-Cetera advisor goes independent with LPL
According to a federal charges Bradley Heppner, 60, received more than $150 million in payments through funneling money from GWG Holdings to a shell company.
A $1B fund allegedly skimmed 30% off the top, then swapped cash for locked-up stock.
Insiders allegedly rewrote projections three times in four days.
TCI Wealth Advisors also has also tapped JIFFYAI to unify onboarding and servicing, while TradePMR adds ICE market data to its Fusion advisor platform
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