State Street Named by Strategic Investments Group to Provide Investment Services for New UCITS Fund
August 18 2010 - 12:29PM
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 been appointed by Strategic Investments
Group (SIG) to provide investment services for its new UCITS
product, Strategic Active Trading Funds plc. State Street’s
operations in Ireland will provide a comprehensive range of fund
administration services to the new fund, which launched in May with
$250 million in assets.
As the first alternative UCITS multi-advisor fund to invest
entirely in dedicated separately managed accounts, it provides
exposure to a range of alternative investment strategies, with the
aim of generating absolute returns. Deutsche Bank collaborated in
the development of the Fund and is conducting independent risk
monitoring for the Fund.
“State Street was selected as our fund administrator based on
its extensive product capabilities,” said Thanos Ballos, managing
partner, Strategic Investments Group Limited. “Its global presence
and demonstrated ability to support sophisticated UCITS-compliant
funds were also key considerations.”
“We are delighted to bring our best-of-class manager of managers
daily servicing capability to Strategic Investments Group’s
innovative new product,” said William Slattery, executive vice
president and head of European Offshore Domiciles for State Street
Corporation “We look forward to embarking on new relationships with
SIG and Permal as they develop new solutions for the European
investment industry.”
Since its entry into the Irish market in 1996, State Street has
grown to be one of the country’s largest fund administrators and
custodians. State Street has approximately 2,000 employees in
Ireland and has offices in Dublin, Drogheda, Kilkenny and Naas.
About State Street
State Street Corporation 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 $19 trillion in assets under custody and
administration and $1.8 trillion in assets under management at June
30, 2010, State Street operates in 25 countries and more than 100
geographic markets worldwide. For more information, visit State
Street at www.statestreet.com.
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