State Street Global Advisors Awarded €111 Million Equity Mandate from Länsförsäkringar Fondförvaltning AB, Affärsenhet...
November 08 2011 - 11:08AM
Business Wire
State Street Global Advisors (SSgA), the investment management
business of State Street Corporation (NYSE:STT), today announced
that it has been awarded a €111 million equity mandate from
Länsf�rsäkringar Fondf�rvaltning AB, Affärsenhet Bank. The mandate
has been allocated to the SSgA Global Equity Spotlight Strategy
managed by the SSgA Fundamental Equity team in Dublin (formerly
Bank of Ireland Asset Management).
The Länsf�rsäkringar Fondf�rvaltning AB is the asset management
and funds distribution business of Länsf�rsäkringar Bank, one of
Sweden’s largest banks. Länsf�rsäkringar Fondf�rvaltning AB manages
both retail and institutional asset with assets under management of
67bn SEK as of September 30, 2011.
“We selected SSgA’s Global Equity Spotlight Strategy due to its
robust performance track record which is underpinned by a
proprietary and rigorous investment process. These are essential
criteria for a fund that generates outperformance through ‘bottom
up’ stock selection and aims to build a concentrated high
conviction portfolio with a high tracking error,” said Eva
Gottfridsdotter-Nilsson, Chief Executive Officer of
Länsf�rsäkringar Fondf�rvaltning AB.
The Global Equity Spotlight Strategy aims to outperform the MSCI
World Index by three to four percent per annum over rolling
three-year periods using a concentrated portfolio which typically
holds 30 - 40 stocks.
The investment team believes that the strategy represents the
best combination of long-term value and quality and the team’s best
ideas globally without regard for regional, country or sector
constituency. The concentrated nature of the portfolio ensures that
investments are active, high-conviction positions, focused on what
the team believes to be the most compelling opportunities.
“We are very pleased that Länsf�rsäkringar Fondf�rvaltning AB
has chosen to invest in SSgA’s Global Equity Spotlight Strategy,”
said Greg Ehret, SSgA’s head of Europe, Middle East and Africa.
“This mandate highlights the successful integration of Bank of
Ireland Asset Management and the fit of complementary strategies
within SSgA’s existing range. The Global Equity Spotlight Strategy
is experiencing high client interest as this type of concentrated
portfolio perfectly fits within the current barbell investment
approach of many institutional investors.”
About State Street Global Advisors
State Street Global Advisors (SSgA) is a global leader in asset
management. The firm is relied upon by sophisticated investors
worldwide for its disciplined investment process, powerful global
investment platform and access to every major asset class,
capitalization range and style. SSgA is the asset management
business of State Street, one of the world’s leading providers of
financial services to institutional investors.
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 trillion in assets under
custody and administration and $1.9 trillion in assets under
management at September 30, 2011, State Street operates in 26
countries and more than 100 geographic markets. For more
information, visit State Street’s web site at
www.statestreet.com.
*This AUM includes the assets of the SPDR Gold Trust (approx.
$64 billion as of September 30, 2011), for which State Street
Global Markets, LLC, an affiliate of State Street Global Advisors
serves as the marketing agent.
State Street Global Advisors Limited. Authorised and regulated
by the Financial Services Authority. Registered in England.
Registered No. 2509928. VAT No. 5776591 81. Registered office: 20
Churchill Place, Canary Wharf, London, E14 5HJ - Telephone: 020
3395 6000 - Facsimile: 020 3395 6350 - Web: www.ssga.co.uk
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(including retail clients) should not rely on this
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