UK - State Street Corporation is to provide full accounting and fund administration services to Schroder's investment funds.
State Street will oversee 64 funds, or over £11bn in assets.
The mandate builds on an existing relationship with Schroders. In November 2002, Schroders said that it would outsource its retail fund administration to IFDS, a State Street and DST Systems joint venture. Schroders also uses ‘Global Link’, State Street’s multi-asset class trading network.
Overall, Schroders has some some £89.5bn under management and services both multinational corporations to retail investors.
State Street senior vice president Jeff Conway said: “This mandate demonstrates our ability to provide the level of flexibility and innovation that major global asset managers need.”
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