State Street Appointed by Harbor Capital Advisors, Inc. For ETF Servicing
October 07 2021 - 10:30AM
Business Wire
Firms also announce renewal of long-standing back office
agreement for Harbor’s mutual funds
State Street Corporation (NYSE:STT) today announced that it has
been appointed as the back office servicing agent for Harbor
Capital Advisors’ first actively managed fully transparent fixed
income ETFs that were launched in September in the U.S. The two
funds are the Harbor Scientific Alpha Income ETF (SIFI), and the
Harbor Scientific Alpha High-Yield ETF (SIHY).
As part of the agreement, State Street will provide various ETF
servicing solutions including basket creation, dissemination and
settlement, custody, fund accounting, N-PORT production,
order-taking and transfer agency.
“To support the launch of Harbor’s two ETFs, State Street used
its deep experience in the market to educate the Harbor team
regarding the idiosyncrasies of ETFs and guide the firm to industry
best practice, resulting in a successful launch,” said Frank
Koudelka, global ETF Product Specialist at State Street. “State
Street’s deep ETF expertise along with our consultative approach
and integrated global technology have laid the groundwork for
Harbor’s ETF growth strategy.”
“We are thrilled to extend our long-term partnership with State
Street to bring the first of several active transparent ETFs to the
marketplace. As State Street continues to be an industry leader in
the ETF space, we believe they are positioned well to support our
goals of bringing more compelling ETF investment solutions to our
clients," commented Steve Cook, Harbor Managing Director and Head
of ETFs.
State Street and Harbor have a long-standing partnership in the
back office, as Harbor has been a client for over 30 years. In
addition to the recent expansion into ETF servicing, State Street
continues to provide custody, fund accounting and N-PORT on $58B
assets under custody administration.
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 $42.6 trillion in assets
under custody and/or administration and $3.9 trillion* in assets
under management as of June 30, 2021, 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, 2021 includes
approximately $64 billion of assets with respect to SPDR® products
for which State Street Global Advisors Funds Distributors, LLC
(SSGA FD) acts solely as the marketing agent. SSGA FD and State
Street Global Advisors are affiliated.
© 2021 State Street Corporation - All Rights Reserved
About Harbor
Harbor is dedicated to helping clients achieve investment
objectives with an active, cost-aware investing approach. For more
than 30 years, our investment team has served as a guide for
clients, developing portfolio strategies based on rigorous research
and market analysis; sourcing elite specialized talent and curating
deep insights in each asset class; with ongoing evaluation of
investment solutions to ensure that decisions remain in the best
interests of our clients. Headquartered in Chicago, Harbor Capital
Advisors had total assets under management of approximately $66
billion as of August 31, 2021.
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version on businesswire.com: https://www.businesswire.com/news/home/20211007005715/en/
Media Contact: Brendan Paul Bpaul2@statestreet.com +1 401
644 9182
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