Sunday, 5th December 2021

The ‘SPY’ kids with $250 Billion riding on their lives

By Bloomberg
13 August 2019   |   1:40 pm
The fate of the world’s largest exchange-traded fund rests on the health of a group of twenty-somethings. Thanks to a quirk in the legal structure used to set up the SPDR S&P 500 ETF Trust, known as SPY, more than $250 billion rests on the longevity of 11 ordinary kids born between May 1990 and January 1993.