State Street assets reach record $5.4tn amid ETF boom

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Management fees for State Street's investment division also reached a new record as at the end of SeptemberPhoto: In Pictures/Getty Images

State Street’s investment management arm saw assets grow to a new record during the third quarter, with its ETF business helping to draw in new client money.

State Street Investment Management gathered net inflows of $26bn, according to a trading update published on 17 October.