Calamos Investments Appoints State Street as Sole Investment Servicing Provider for Its US and Global Products
December 14 2009 - 9:30AM
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 further expanded its relationship with
Illinois-based Calamos Investments (NASDAQ: CLMS). State Street
will provide custody, fund administration and securities lending
services to Calamos’ collective fund structures including Open and
Closed End Mutual Funds, Dublin UCITS and private funds exceeding
$21 billion in assets. With this consolidation, State Street now
provides full back-office services for all of Calamos’ collective
fund structures.
“By further consolidating our operations with State Street, it
provided us with a seamless model which has resulted in additional
efficiencies in our processes, enabling us to better serve our
clients,” said Nimish Bhatt, senior vice president of Calamos
Advisors LLC and CFO of Calamos Funds. “State Street understands
our complex investments and associated accounting requirements. The
consistency and expertise of its fund accounting and fund
administration teams also ensure continuity of service quality for
our funds.”
“We have enjoyed our partnership with Calamos during the past
five years and appreciate the value it sees in expanding our
relationship to include additional services,” said Alan Greene,
executive vice president of State Street. “Growing our market share
within the US mutual fund arena will help ensure we stay ahead of
the changes in the industry and develop solutions for our
customers.”
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 NAV's to
NASDAQ.
Barrington Partners, based in Boston, Mass., assisted Calamos in
the due diligence and selection process.
Calamos Investments has more than $30.5 billion in assets under
management and provides investment advisory services to
institutions and individuals seeking superior risk-adjusted returns
over the long term. With roots dating back to 1977, the company
applies its proprietary investment process across an expanding
range of investment strategies within the equity,
global/international, balanced, high yield, convertible and
alternative investment classes. Calamos Investments is listed on
the Nasdaq Stock Market and trades under the symbol "CLMS." For
more information, please visit http://www.calamos.com.
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 $17.9 trillion in assets
under custody and administration and $1.7 trillion in assets under
management at September 30, 2009, State Street operates in 27
countries and more than 100 geographic markets worldwide. For more
information, visit State Street’s website at
www.statestreet.com.
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