State Street Global Creates Fund
State Street Global Advisors, Boston, is now trading the SPDR Nuveen Barclays Capital Build America Bond ETF.
The municipal bond SPDR is the first new exchange-traded fund developed under a subadvisory agreement between State Street Global Advisors and Nuveen Asset Management (a subsidiary of Nuveen Investments). It is designed to provide investors with exposure to Build America Bonds, which can offer an attractive risk/reward potential.
Phoenix's Saybrus Unit, Wells Fargo Partner
The Saybrus consulting unit of Phoenix Cos. has entered an agreement to provide life insurance consulting services to advisors at Wells Fargo. Under the agreement, Saybrus consultants will help advisors match insurance products that meet clients needs.
Late last year, Saybrus became the exclusive distributor to Edward D. Jones.