State Street

US/NETHERLANDS - Dutch pension fund Stichting Pensioenfonds British American Tobacco (Pension Fund BAT) is suing State Street Bank & Trust for losses in a long/short fund run by State Street Global Advisors.

GLOBAL - Investors should be cautious in taking short positions on the US dollar despite signs the currency is becoming cheap against currencies such as the euro and the Australian dollar, State Street Global Advisors (SSgA) has warned.

GERMANY - Deutsche Bank has set up a pension asset-pooling vehicle in Luxembourg aimed at its employees' pension assets and at other companies' funds.

US/JERSEY - State Street has entered into an agreement to acquire Jersey-based fund administrator Mourant International Finance Administration in a move the firm claimed will make it the largest alternatives asset servicing company in the world.

US - The Public School and Education Employee Retirement Systems of Missouri (PSRS/PEERS) has sued State Street after the bank demanded the scheme return US$4.2bn into its securities lending program.

US - State Street Corp. said on Friday it added another US$250m into its legal reserve and entered into an $89.8m proposed settlement of a class action suit regarding strategies run by State Street Global Advisors.

JAPAN - Mizuho Trust & Banking has broken into the top three largest asset managers in Japan, displacing State Street Global Advisors Japan (SSgA), a quarterly report by the Japan Pensions Industry Database showed.

CANADA - The C$2.2bn (US$2.03bn) Saskatchewan Teachers' Federation has hired State Street to provide custody, fund accounting and securities lending services.

Emma Dunkley looks at how quant strategies have performed since the beginning of the sub-prime crisis, and considers how they are set to develop

UK - Kevin O'Neill and Samina Vernon have joined State Street Global Markets as vice presidents in the transition management team, the firm said today.