State Street, a US-based provider of financial services to institutional investors, has been appointed by M&G Investments, a UK fund management company, to provide investment services for GBP5.8 billion in assets under administration.
According to State Street, it will provide share pricing and fund accounting for a number of M&G funds that have the ability to invest in complex bonds and OTC derivatives.
The company utilizes decades of investment servicing expertise to provide customers worldwide with comprehensive investment servicing solutions – from custody and fund accounting to reporting and administration – on a wide range of asset types, including the most complex investment instruments.
Martin Lewis, COO at M&G Investments, said: State Street was the clear choice in our detailed search for a servicing partner. State Street stood above the rest because of its ability to support the complexity of M&G’s investment parameters.
State Street Corporation is engaged in providing financial services to institutional investors including investment servicing, investment management and investment research and trading. With $11.3 trillion in assets under custody and $1.4 trillion in assets under management at March 31, 2009, State Street claims to operate in 27 countries and more than 100 geographic markets worldwide.
