Under this partnership, State Street will provide fund accounting, fund administration, custody and trustee services and IFDS will provide transfer agency and unit-holder recordkeeping services for the eight new funds.
Pimco has more than 1,300 dedicated professionals in 10 countries focused on managing risks and delivering returns to clients.
Pimco Canada president Stuart Graham said that Pimco’s retail funds leverage current institutional mandates and provide Canadian investors with solutions that demonstrate company’s thought leadership.
State Street senior vice president and managing director of investment servicing business in Canada Kevin Drynan said that as the demand for asset servicing continues to grow, State Street remain focused on partnering with clients as they expand in the region.
State Street and IFDS have been providing a variety of investment services for Pimco over the last decade, including custody, accounting, valuation and transfer agency services.
Since 2000, State Street has provided Pimco with investment operations outsourcing services including transaction management, pricing, derivatives processing, collateral management, custody, accounting, systems and IT development.
