State Street Wins Best Hedge Fund Administrator and Best Risk Management Technology Provider of the Year Awards
November 06 2013 - 11:49AM
Business Wire
End-to-End Solutions to Improve Transparency are Growing, but
Adoption Lags
State Street Corporation (NYSE:STT), announced today that it has
been named 2013 Hedge Fund Administrator of the Year and 2013 Risk
Management Technology Provider by HFMWeek magazine. The HFMWeek US
Hedge Fund Services Awards recognize outstanding service and
support to the hedge fund industry in North America and are judged
by an independent panel of experts.
“The HFMWeek awards further validate the focus State Street
places on solutions for our hedge fund client base,” said George
Sullivan, executive vice president and global head of alternative
investment solutions (AIS) at State Street. “Our clients face a
complex and evolving regulatory environment, so end-to-end
solutions that help monitor and manage risk are becoming
increasingly necessary.”
The vastly increased reporting and regulatory demands that come
from regulations like AIFMD and Dodd-Frank have put tremendous
pressure on alternative managers. State Street recently conducted a
study with Preqin, “The Next Alternative: Thriving in a New
Environment,” and found that 38 percent of fund managers see
adapting to new regulations as a huge challenge over the next five
years. Although new transparency standards are driving innovation,
only 15 percent of managers surveyed are using tools that assess
performance and risk.
“The growing demand for more transparency has created a need for
better data and analytics,” said Jeff Conway, executive vice
president and head of State Street Global Exchange. “Alternative
managers are confronted with an overwhelming amount of data that
must be analyzed and reported. Our solutions help these managers to
measure and assess portfolio risk, provide enhanced reporting and
respond rapidly to changing market dynamics.”
Global Exchange delivers proprietary data, insights, analytics
and trading solutions to address clients’ needs to make better
investment decisions, generate superior returns and effectively
manage data and risk. Alternative Investment Solutions (AIS) at
State Street delivers industry leading alternative asset services
to clients worldwide. AIS provides a complete suite of fund
accounting, fund administration, corporate administration, risk and
credit services to institutional investors, hedge funds, private
equity fund and real estate fund managers.
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 $26 trillion in assets under
custody and administration and $2.2 trillion in assets under
management at September 30, 2013, State Street operates in more
than 100 geographic markets worldwide, including the U.S., Canada,
Europe, the Middle East and Asia. For more information, visit State
Street’s web site at www.statestreet.com.
This AUM includes the assets of the SPDR Gold Trust (approx. $39
billion as of September 30, 2013), for which State Street Global
Markets, LLC, an affiliate of State Street Global Advisors, serves
as the marketing agent.
CORP-0895
State Street CorporationAnne McNally, +1
617-664-8576@StateStreet
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