State Street’s head of Global Services and Global Markets businesses in the UK, Middle East and Africa Steve Smit said the firm will provide solutions that will help asset managers to focus on growing their investment strategies and distribution networks.
The inclusion of new SICAV feeder fund will also clarify the rules for cross-border fund mergers as well as address the complexity and cost of managing master feeders and pooling.
The firm has provided custody, fund accounting, depository and portfolio trade execution solutions to the Fundsmith Equity Fund OEIC since its launch in the UK in November 2010.
State Street has $22 trillion in assets under custody and administration and $1.9 trillion in assets under management as at 30 September 2011 with operations in 26 countries and over 100 geographic markets.
