SSGA to launch communications ETF following S&P reclassification

Offers access to three FAANGs

State Street Global Advisors (SSGA) is launching an ETF offering exposure to the US communication sector, which includes Facebook, Netflix and Alphabet.

The SPDR S&P US Communication Services Select Sector UCITS ETF will list on the London Stock Exchange on 17 August. Communication Services is a new index from S&P Dow Jones Indices and MSCI, which will launch this September following a reclassification of the S&P 500.  The S&P 500 sectors were reclassified last November which saw the telecommunications sector replaced by communications, divided into telecommunications services and media & entertainment. There was previously just 1.8% allocated to telecommunications but, from 24 September, this will increase to 10.4% in a dedicated ...