State Street has provided Martin Currie with services including depositary and custody for the Martin Currie Open-Ended Investment Company (OEIC) since 1998.
With its expanded relationship, State Street will provide fund accounting, custody and transfer agency services as well as middle office investment operations outsourcing services on a global basis for all funds managed by Martin Currie.
Martin Currie Investment Management CEO Willie Watt said they are very pleased to expand their long-standing relationship with State Street, as they set out to achieve further operational and cost efficiencies.
"Our objective was to consolidate all of our administration with a single global provider, and State Street offered the most compelling service proposition together with a proven record of excellence to meet our requirements," Watt said.
State Street vice chairman Joe Antonellis said with the increase in new investment products spanning multiple jurisdictions, investment managers are increasingly turning to third party providers and they stand ready to help their clients improve efficiencies and reduce costs.
"With this agreement we continue to enhance our position as the market leader of investment operations outsourcing services," Antonellis said.
