UK - State Street Corporation has been appointed to provide a range of investment services to the Somerfield Pension Scheme for £300m in assets.
The deal means State Street Corporation will provide global custody, investment accounting, independent swaps pricing and reconciliation services.
In addition, WM Performance Services, the European performance measurement division of State Street, will also provide performance measurement services to the fund’s assets.
Nick Redman, secretary to the trustees of the Somerfield Pension Scheme, explained the swaps pricing and reconciliation services offered by State Street were central in its decision-making process.
In a separate development, State Street Corporation has partnered with Resolve Technology to provide customers with a full suite of online performance analytics and risk assessment tools.
State Street said the tools should help customers to better monitor their entire real estate investment portfolios.
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