State Street Global Advisors Adds I&D Focused Share Class within Cash Management Suite

State Street Global Advisors, the asset management business of State Street Corporation, announced recently the roll-out of the Opportunity Class, a new money market fund share class, which will benefit philanthropic organizations whose values align with State Street’s commitment to racial equity and social justice. By doing so, the firm is answering the call from clients who are increasingly interested in supporting I&D initiatives with their strategic cash investments.

The State Street money market funds that offer the Opportunity Class shares are as follows:

• State Street Institutional U.S. Government Money Market Fund (OPGXX)

• State Street Institutional Treasury Plus Money Market Fund (OPTXX)

• State Street Institutional Treasury Money Market Fund (OPRXX)

• State Street Institutional Liquid Reserves Fund (OPIXX)

• ​State Street ESG Liquid Reserves Fund (OPEXX)

According to the announcement, the State Street money market funds’ investment adviser, SSGA Funds Management, Inc., will donate out of its own assets at least 20% of its annual net management fee received from assets invested in the Opportunity Class shares to charitable organizations that align with State Street’s 10 Actions Addressing Racism and Inequality. Leveraging the grantmaking guidelines and methodology of State Street Foundation, State Street’s charitable arm, State Street Global Advisors identifies recipient philanthropic organizations to support.