State Street Named by QIC to Provide Investment Services for New Ireland-Based Fund
September 23 2009 - 10:06AM
Business Wire
State Street Corporation (NYSE: STT), one of the world’s leading
providers of financial services to institutional investors,
announced that it has been appointed to provide a full range of
investment services for QIC’s new Irish-domiciled qualified
investment fund (QIF).
State Street will provide custody, fund administration and
performance and analytics services for QIC, a leading Australian
institutional fund manager. For the first time, QIC has made its
Global Fixed Interest (GFI) Alpha Fund available to investors
outside Australia through Ireland’s QIF structure.
“In making our first move outside Australia, finding a service
provider that could take on the full range of our servicing needs
was important,” said Susan Buckley, QIC managing director of global
fixed income. “With its global presence and local leadership in
investment servicing from the back office to performance and
analytics, State Street was the clear choice for this
assignment.”
The GFI Alpha Fund uses absolute return strategies across
fixed-income global macro markets and credit derivatives. State
Street utilizes decades of investment servicing expertise to
provide customers worldwide with comprehensive investment servicing
solutions — from custody and fund accounting to reporting and
administration — for a wide range of asset types, including the
most complex investment instruments.
“We are very pleased to be selected by QIC to provide a suite of
investment services for its new Irish-based fund,” said Gavin
Nangle, State Street vice president and head of business
development in Ireland. “Faced with growing complexity and
increased compliance requirements, more asset managers are choosing
to outsource investment operations to full-service providers like
State Street.”
Since its entry into the Ireland market in 1996, State Street
has grown to be one of the country’s largest fund administrators
and custodians and has local offices in Dublin, Drogheda, Kilkenny
and Naas.
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 $16.4 trillion in assets
under custody and administration and $1.5 trillion in assets under
management at June 30, 2009, State Street operates in 27 countries
and more than 100 geographic markets worldwide. For more
information, visit State Street’s web site at
www.statestreet.com.
About QIC
QIC is one of Australia’s largest institutional fund managers
with $65 billion (US$46 billion) under management. This includes
more than US$34 billion in global fixed interest for more than 60
clients.
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