LONDON--(BUSINESS WIRE)--
State Street Corporation (NYSE: STT), the world's leading provider of
financial services to institutional investors, announced today that it
has been appointed by M&G Investments to provide investment services for
GBP5.8 billion in assets under administration.
State Street will provide share pricing and fund accounting for a number
of M&G funds that have the ability to invest in complex bonds and OTC
derivatives.
"State Street was the clear choice in our detailed search for a
servicing partner," said Martin Lewis, chief operating officer of M&G
Investments. "State Street stood above the rest because of its ability
to support the complexity of M&G's investment parameters."
State Street utilizes decades of investment servicing expertise to
provide customers worldwide with comprehensive investment servicing
solutions - from custody and fund accounting to reporting and
administration - on a wide range of asset types, including the most
complex investment instruments.
"We are very pleased to be selected by M&G Investments for this
mandate," said Wade McDonald, head of customer relationship management
for State Street's investor services team in the United Kingdom, Middle
East and Africa. "State Street is firmly committed to delivering the
highest level of expertise in servicing complex investments, such as
those offered by M&G."
State Street Corporation (NYSE: STT) is the world's leading provider of
financial services to institutional investors including investment
servicing, investment management and investment research and trading.
With $11.3 trillion in assets under custody and $1.4 trillion in assets
under management at March 31, 2009, State Street operates in 27
countries and more than 100 geographic markets worldwide. For more
information, visit State Street's web site at www.statestreet.com.
M&G Investments is the UK and European investment arm of the Prudential
Group, with assets under management of more than £141 billion, as at the
end of December 2008. M&G Investments is one of the largest asset
managers in Europe and aims to maximise profitable growth by operating
in markets where it has a leading position and competitive advantage,
including retail fund management, institutional fixed income, pooled
life and pension funds, property and private finance.
Issued by M&G International Investments Ltd. (Registered office:
Laurence Pountney Hill, London EC4R 0HH) authorised and regulated by the
Financial Services Authority.
Source: State Street Corporation
Contact: State Street Corporation
Carolyn Cichon, + 1-617-664-8672