State Street Expands Relationship with Calamos Investments(R) to Service an Additional $29.8 Billion In Assets
June 12 2006 - 12:01PM
Business Wire
State Street Continues to Deepen Relationships with Existing
Customers State Street Corporation (NYSE: STT), the world's leading
provider of financial services to institutional investors,
announced today that it has expanded its relationship with
Illinois-based Calamos Investments(R) (Calamos) to provide fund
accounting services for nine open-end mutual funds and one variable
insurance fund representing nearly $29.8 billion in assets at April
30, 2006. State Street now provides services for 14 of Calamos'
funds representing approximately $36 billion in assets at April 30,
2006. "State Street has demonstrated a commitment to our business
since we began working together more than two years ago," said
Nimish Bhatt, senior vice president of Calamos. "As we looked to
consolidate service providers, State Street emerged as the clear
leader in fund accounting during our rigorous due diligence
process. The expertise of its client service team has been
instrumental in providing support for the complex securities held
in our mutual funds." State Street began providing fund accounting
services to Calamos in February 2004, when Calamos launched the
Calamos Strategic Total Return Fund. With more than $2 billion in
assets raised during its offering period, this was among the
largest closed-end fund initial public offerings in recent years.
"When we began partnering with Calamos in 2004, we stated our
commitment to supporting the firm's future growth," said Alan
Greene, executive vice president of State Street. "This additional
mandate confirms that our customers continue to gain considerable
value from State Street's expertise and that we provide a level of
service that is unmatched in the industry." State Street is the
leading provider of fund accounting in the United States, servicing
more than 40 percent of the mutual fund industry, and is the
largest contributor of mutual fund NAVs to NASDAQ. Calamos
Investments is a diversified investment management firm with more
than $48.4 billion in assets under management at April 30, 2006.
The firm offers equity, high yield, convertible and alternative
investment strategies, using a risk-managed approach to capital
appreciation and income-producing strategies. Calamos Investments
serves institutions and individuals via separately managed
accounts, open-end mutual funds and closed-end funds. For more
information, visit www.calamos.com. State Street Corporation (NYSE:
STT) is the world's leading specialist in providing institutional
investors with investment servicing, investment management and
investment research and trading services. With $10.7 trillion in
assets under custody and $1.5 trillion in assets under management
(as of March 31, 2006), State Street operates in 26 countries and
more than 100 geographic markets worldwide. For more information,
visit State Street's Web site at www.statestreet.com.
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