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State Street Named by Strategic Investments Group to Provide Investment Services for New UCITS Fund

^{Published on 2010-08-18 09:45:29 - Market Wire}
 

DUBLIN & BOSTON--([ BUSINESS WIRE ])--State Street Corporation (NYSE: STT), one of the worlda™s leading providers of financial services to institutional investors, announced today that it has been appointed by Strategic Investments Group (SIG) to provide investment services for its new UCITS product, Strategic Active Trading Funds plc. State Streeta™s operations in Ireland will provide a comprehensive range of fund administration services to the new fund, which launched in May with $250 million in assets.

"Its global presence and demonstrated ability to support sophisticated UCITS-compliant funds were also key considerations."

As the first alternative UCITS multi-advisor fund to invest entirely in dedicated separately managed accounts, it provides exposure to a range of alternative investment strategies, with the aim of generating absolute returns. Deutsche Bank collaborated in the development of the Fund and is conducting independent risk monitoring for the Fund.

aState Street was selected as our fund administrator based on its extensive product capabilities,a said Thanos Ballos, managing partner, Strategic Investments Group Limited. aIts global presence and demonstrated ability to support sophisticated UCITS-compliant funds were also key considerations.a

aWe are delighted to bring our best-of-class manager of managers daily servicing capability to Strategic Investments Groupa™s innovative new product,a said William Slattery, executive vice president and head of European Offshore Domiciles for State Street Corporation aWe look forward to embarking on new relationships with SIG and Permal as they develop new solutions for the European investment industry.a

Since its entry into the Irish market in 1996, State Street has grown to be one of the countrya™s largest fund administrators and custodians. State Street has approximately 2,000 employees in Ireland and has offices in Dublin, Drogheda, Kilkenny and Naas.

About State Street

State Street Corporation 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 $19 trillion in assets under custody and administration and $1.8 trillion in assets under management at June 30, 2010, State Street operates in 25 countries and more than 100 geographic markets worldwide. For more information, visit State Street at [ www.statestreet.com ].