Martin Currie Investment Management Appoints State Street to Provide Multi-Domicile Middle and Back Office Investment Services
April 19 2011 - 8:00AM
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 Martin Currie
Investment Management Limited to provide a range of services for
approximately £11 billion1 in assets.
State Street has provided Martin Currie with services including
depositary and custody for the Martin Currie Open-Ended Investment
Company (OEIC) since 1998. With its expanded relationship, State
Street will provide fund accounting, custody and transfer agency
services as well as middle office investment operations outsourcing
services on a global basis for all funds managed by Martin
Currie.
“We are very pleased to expand our long-standing relationship
with State Street, as we set out to achieve further operational and
cost efficiencies,” said Willie Watt chief executive officer of
Martin Currie Investment Management. “Our objective was to
consolidate all of our administration with a single global
provider, and State Street offered the most compelling service
proposition together with a proven record of excellence to meet our
requirements.”
“We are delighted to have expanded our relationship with Martin
Currie to include additional services for their global funds,” said
Joe Antonellis, vice chairman of State Street. “With the increase
in new investment products spanning multiple jurisdictions,
investment managers are increasingly turning to third party
providers and we stand ready to help our clients improve
efficiencies and reduce costs. With this agreement we continue to
enhance our position as the market leader of investment operations
outsourcing services.”
About Martin Currie Investment Management
Martin Currie is a specialist investment management business.
From headquarters in Edinburgh, it manages £11.3 billion1 in active
equity portfolios for a global client base of financial
institutions, charities, foundations, endowments, pension funds,
family offices, government agencies and investment funds. Martin
Currie’s pooled funds include an Oeic, Sicav, offshore mutual funds
and a range of absolute return funds.
About State Street
State Street Corporation (NYSE:STT) is one of the world’s
leading providers of financial services to institutional investors,
including investment management, investment research and trading an
investment servicing. With $21.5 trillion in assets under custody
and administration and $2.0 trillion in assets2 under management at
December 31, 2010, 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.
1 Assets under management as at 31 December 2010.
2 This AUM includes the assets of the SPDR Gold Trust (approx.
$56 billion as of December 31, 2010), for which State Street Global
Markets, LLC, an affiliate of State Street Global Advisors, serves
as the marketing agent.
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