State Street Global Advisors hired Nuveen Investments to manage a suite of five municipal bond exchange-traded funds — plus a series of new funds the company expects to launch in the coming months.

Under the agreement, which takes effect today, Nuveen Asset Management will manage the assets for the SPDR Barclays Capital series of ETFs tracking a national municipal bond portfolio as well as a short-term and variable-rate debt obligation fund, and portfolios devoted to bonds in California and New York.

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