State Street Reappointed by Aberdeen Standard Investments to Provide Full Range of Investment Servicing Solutions
August 27 2020 - 11:30AM
Business Wire
State Street Corporation (NYSE:STT) today announced that it has
been reappointed by Aberdeen Standard Investments (ASI) to continue
to provide a variety of back office servicing solutions. ASI is a
global asset manager dedicated to creating long-term value for its
clients.
As part of the renewal, State Street will provide global
custody, accounting, and fund administration for ASI’s fund ranges
in the United States and Canada.
In June, State Street released a research study that noted that
institutional investors were retaining high levels of confidence in
their asset managers amid the COVID-19 crisis. However, the survey
also revealed that the pandemic has also created major challenges
for managers and their back office functions; as 37% of
institutional investors found securities valuations ‘challenging’
or ‘extremely challenging’ during the crisis. This was followed by
liquidity (34%), timely reporting (34%) and cash forecasting
(30%).i
“The COVID-19 crisis has presented unparalleled challenges, and
we remain committed to partnering with our clients to help them
generate and sustain growth,” said Donna Milrod, head of the global
clients division for State Street. “We are very pleased to extend
our very important relationship with Aberdeen Standard
Investments.”
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 $33.52 trillion in assets
under custody and/or administration and $3.05 trillion* in assets
under management as of June 30, 2020, State Street operates
globally in more than 100 geographic markets and employs
approximately 39,000 worldwide. For more information, visit State
Street's website at www.statestreet.com.
* Assets under management as of June 30, 2020 includes
approximately $67 billion of assets with respect to which State
Street Global Advisors Funds Distributors, LLC (SSGA FD) serves as
marketing agent; SSGA FD and State Street Global Advisors are
affiliated.
© 2020 State Street Corporation - All Rights Reserved
Expiration Date: September 30, 2021
3174369.1.1.GBL.RTL
_________________ i *Research study conducted by State Street:
https://newsroom.statestreet.com/press-release/corporate/state-street-survey-provides-insights-institutional-investors-views-asset-ma
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Brendan Paul Bpaul2@statestreet.com +1 401 644 9182
State Street (NYSE:STT)
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