State Street : Research from State Street and CFA Institute Finds Dutch Retail Investors are More Involved with Personal Investments than Global Peers

New researchby the Center for Applied Research, the independent think-tank of State Street Corporation (NYSE: STT), and CFA Institute finds Dutch retail investors are much less likely to use a financial advisor than the global average with 20 percent stating they have an ongoing relationship with a financial advisor, compared to 36 percent of respondents globally. In addition, 46 percent of Dutch retail investors reported having no financial advisor at all, compared to just 32 percent globally.

This may be because Dutch investors are notably more motivated by the intrinsic joy of investing with 17 percent reporting enjoyment as their primary motivation, compared to nine percent worldwide. This makes enjoyment the third most popular motivation for Dutch retail investors, after financial security (37 percent) and reaching life goals (29 percent). In comparison, the enjoyment of investing ranks only as the fifth most popular reason for investors worldwide.

However, Dutch retail investors were found to have comparatively low levels of knowledge on certain investment topics:

• more than half (57%) did not know the approximate fees they pay across all their savings and investments, versus 52% worldwide

• more than two thirds (67%) said they did not know the amount of their gross income they contribute to their DC plan, significantly higher than the 44% of globally and 53% of EMEA respondents

• 20 percent said they were not aware of government incentives intended to stimulate saving and investing for retirement. While almost a fifth (18 %) think government incentives actually discourage saving.

Toby Summerfield, chief operating officer for the Netherlands, Belgium and Nordics for State Street said, 'Our research shows Dutch retail investors tend to be individualistic and take matters into their own hands when it comes to investing. More than half (54 percent) credit themselves, and nearly a quarter (24 percent) credit their family for their successes in long-term financial planning. This is possibly related to a greater distrust of financial institutions and government incentives to save and invest for retirement.'

'Fortunately, our research into behaviour also shows they are in it for the long term and less likely to miss out on returns by selling low and buying high,' continued Summerfield. 'Investors in the Netherlands could improve their outcomes by educating themselves on the total amount of fees they pay and how fees impact their investment results.'

Rebecca Fender, CFA, head of the Future of Finance initiative at CFA Institute, added, 'The research shows that why you invest actually impacts how well you invest. When there is a lack of client-centric purpose to direct passion for the markets, the alignment of interests and motivations becomes distorted. We believe that by focusing on phi*, investment professionals and their firms can improve outcomes for investors and create greater trust in the industry overall.'

* Phi is a new and powerful business metric identified by State Street Corporation and the CFA Institute that can have a substantially positive impact on organisational performance, client satisfaction, and employee engagement at investment firms across the EMEA region.

ENDS

About State Street
State Street Corporation (NYSE: STT) is one of the world's leading providers of financial services to institutional investors, including investment servicing, investment management and investment research and trading. With $29 trillion in assets under custody and administration and $2 trillion* in assets under management as of December 31, 2016, State Street operates in more than 100 geographic markets worldwide, including the US, Canada, Europe, the Middle East and Asia. For more information, visit State Street's website at www.statestreet.com

*Assets under management include the assets of the SPDR® Gold ETF (approximately $31 billion as of December 31, 2016), for which State Street Global Markets, LLC, an affiliate of SSgA, serves as the distribution agent.

About CFA Institute

CFA Institute is the global association of investment professionals that sets the standard for professional excellence and credentials. The organization is a champion for ethical behavior in investment markets and a respected source of knowledge in the global financial community. The end goal: to create an environment where investors' interests come first, markets function at their best, and economies grow. CFA Institute has over 140,000 members in 157 countries and territories, including 134,000 CFA charterholders, and 147 member societies. The CFA Institute Future of Finance initiative is a long-term, global effort to shape a trustworthy, forward-thinking investment profession that better serves society. For more information, visitwww.cfainstitute.org.

These findings come from a study of nearly 7,000 investors, of which 3,600 retail investors, conducted over an 18-month period by State Street's Centre for Applied Research think tank and the CFA Institute. The survey included a group of 180 Dutch retail investors.

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Expiration date: 02/28/2018