Brandes Canada Extends Its Investment Servicing Relationship with State Street
June 27 2011 - 10:45AM
Business Wire
State Street Corporation (NYSE: STT), one of the world’s leading
providers of financial services to institutional investors,
announced today that Brandes Investment Partners & Co. (BIPCo)
has expanded its investment servicing relationship with State
Street to include its Canadian pooled funds totaling CA $1 billion
in assets.
State Street will provide custody, accounting, financial
reporting and taxation services, securities lending and performance
analytics and will be the trustee and transfer agent for the
Canadian pooled funds. With more than 37 years of investment
experience, BIPCo’s affiliate, Brandes Investment Partners L.P.
(Brandes), is a leading independent global investment advisory
firm, managing assets for institutional and private clients
worldwide.
”Our relationship with State Street is an important element of
our overall business strategy, and we are thrilled to be expanding
it by including the Canadian pooled funds,” said Oliver Murray,
president, Brandes Investment Partners & Co. “State Street’s
experience, expertise and in-depth knowledge of Canadian regulatory
requirements allow us to focus simply on providing our clients with
exceptional service and investment management.”
Since establishing its first Canadian office in Toronto in 1990,
State Street now has more than 1,200 employees in Toronto, Montreal
and Vancouver and provides a broad array of services to many of
Canada’s leading institutional investors.
State Street has an extensive relationship with Brandes and
provides custody, fund accounting and fund administration services
in addition to investment restriction reporting, performance and
analytics, securities lending, commission recapture, investment
management, transaction cost analysis and fair value pricing for
its 14 retail mutual fund products in Canada, as well as for two
funds in the United States.
“State Street is delighted to broaden our highly valued
partnership with Brandes by servicing their Canadian pooled fund
product,” said Kevin Drynan, managing director of State Street’s
Global Services business in Canada. “We have enjoyed our
association with Brandes since they entered the Canadian market,
and we look forward to serving them well into the future.”
About Brandes Investment Partners & Co.
Brandes Investment Partners & Co. is the Toronto-based
manager of the Brandes Funds and affiliate of Brandes Investment
Partners, L.P., of San Diego CA. Brandes is a leading global
investment advisory firm, managing assets for institutional and
private clients worldwide, including assets for Canadians in
separate accounts for institutional, wrap, private client investors
and through Brandes’s family of mutual funds.
With over thirty-seven years investment experience, Brandes
applies a value-oriented approach to security selection pioneered
by Benjamin Graham and David Dodd to identify investment
opportunities within a long-term context, in all market conditions.
Among the first investment firms to emphasize a global perspective
to value investing, Brandes offers a variety of global,
international, U.S. and Canadian equity portfolios.
About State Street Corporation
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 $22.6 trillion in assets
under custody and administration and $2.1 trillion* in assets under
management at March 31, 2011, State Street operates in 26 countries
and more than 100 geographic markets worldwide. For more
information, visit State Street’s website at
www.statestreet.com.
*This AUM includes the assets of the SPDR Gold Trust (approx.
$56 billion as of March 31, 2011), for which State Street Global
Markets, LLC, an affiliate of State Street Global Advisors serves
as the marketing agent.
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