State Street Receives Top Rankings in Global Custodian Hedge Fund Administration Survey for Third Consecutive Year
August 11 2006 - 9:37AM
Business Wire
Customers Cite Depth of IFS' Knowledge and Technology Adaptability
as Key Strengths State Street Corporation (NYSE:STT), the world's
leading provider of financial services to institutional investors,
announced today that its hedge fund administration company,
International Fund Services (IFS), achieved top rankings for the
third consecutive year in Global Custodian magazine's annual Hedge
Fund Administration Survey. IFS was Top Rated Overall in the survey
and in the Dublin and the U.S. East Coast categories. According to
Global Custodian, "This was a typically outstanding performance by
IFS...IFS can be pleased with its ability to deliver equal quality
on both sides of the Atlantic. Its score on client service and
relationship management is easily the best of any provider." The
2006 survey garnered 57 responses from hedge fund managers, the
highest amount to date and an increase over 2005. "We are thrilled
with IFS," said one of the respondents, an IFS client. "They are a
true partner and we are confidently outsourcing more and more to
them to focus on our core missions of delivering investment
performance and investor service." "Delivering a consistent level
of service in both North America and Ireland has provided our
customers with a differentiator that they can't find anywhere
else," said Gary Enos, executive vice president and head of
alternative investment services for State Street. "This recognition
is an important validation of our ability to continue to grow with
the marketplace and provide our customers with the best service in
the business." State Street provides a complete set of servicing
and management solutions for hedge funds including recordkeeping,
fund accounting, valuation, risk management and regulatory
reporting. In 2002, State Street acquired International Fund
Services, a leading provider of fund accounting and administration
as well as trade support and middle office services for alternative
investment portfolios, and today services more than $170 billion in
alternative investment assets. State Street Global Advisors, State
Street's investment management arm, also provides institutional
investors with an array of hedge fund and fund-of-funds strategies.
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 $10.9 trillion in assets under custody and
$1.5 trillion in assets under management at June 30, 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.
State Street (NYSE:STT)
Historical Stock Chart
From Jun 2024 to Jul 2024
State Street (NYSE:STT)
Historical Stock Chart
From Jul 2023 to Jul 2024