State Street Earns Top-Ranking in Leading Mutual Fund Administration Survey
October 02 2009 - 11:03AM
Business Wire
State Street Corporation (NYSE:STT), one of the world’s leading
providers of financial services to institutional investors,
announced today that it has captured the top global ranking in
Global Custodian magazine’s 2009 Mutual Fund Administration
Survey.
“State Street aims to set the standards in this business, and in
2009 it can plausibly claim to have achieved exactly that in this
survey,” said Global Custodian editors in announcing the results.
No other fund administrator “can rival the geographic reach or the
range of services provided by State Street,” the magazine
added.
State Street was rated No. 1 overall in the ranking of mutual
fund administrators worldwide. In addition, State Street received
52 “Best in Class” awards for specific service categories.
The survey asked mutual fund companies to rate service providers in
eight categories: client service and relationship management,
value, fund accounting and valuations, transfer agency,
distribution support, portfolio servicing, fund reporting, and
compliance.
Respondents quoted in the survey noted State Street’s range and
depth of services. “They provide quality fund accounting, custody,
tax and administration services that many competitors cannot come
close to replicating,” said one fund executive.
Another respondent cited State Street’s global leadership as a
benefit to fund companies expanding into new geographic markets.
“State Street, with its large client base in the mutual fund
business, is in such a leadership position that it is a tremendous
resource when moving into a new global market.”
“State Street’s top ranking in Global Custodian’s annual survey
reflects our commitment to meeting the complex servicing needs of
mutual funds worldwide,” said Joe Antonellis, vice chairman of
State Street. “Our ongoing investments in technology and expertise
are designed to ensure that customers continue to receive this
superior level of service.”
Global Custodian noted that State Street, while improving its
rankings, drew more respondents than any other provider in the
survey. “With half as many respondents more than its nearest rival,
State Street lifted its average scores by significant margins in
every service area.”
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 $1.6 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.
State Street (NYSE:STT)
Historical Stock Chart
From May 2024 to Jun 2024
State Street (NYSE:STT)
Historical Stock Chart
From Jun 2023 to Jun 2024