Also Captures 52 "Best in Class" Honors
BOSTON--(BUSINESS WIRE)--
State Street Corporation (NYSE:STT), one of the world's leading
providers of financial services to institutional investors, announced
today that it has captured the top global ranking in Global Custodian
magazine's 2009 Mutual Fund Administration Survey.
"State Street aims to set the standards in this business, and in 2009 it
can plausibly claim to have achieved exactly that in this survey," said Global
Custodian editors in announcing the results. No other fund
administrator "can rival the geographic reach or the range of services
provided by State Street," the magazine added.
State Street was rated No. 1 overall in the ranking of mutual fund
administrators worldwide. In addition, State Street received 52 "Best in
Class" awards for specific service categories. The survey asked
mutual fund companies to rate service providers in eight categories:
client service and relationship management, value, fund accounting and
valuations, transfer agency, distribution support, portfolio servicing,
fund reporting, and compliance.
Respondents quoted in the survey noted State Street's range and depth of
services. "They provide quality fund accounting, custody, tax and
administration services that many competitors cannot come close to
replicating," said one fund executive.
Another respondent cited State Street's global leadership as a benefit
to fund companies expanding into new geographic markets. "State Street,
with its large client base in the mutual fund business, is in such a
leadership position that it is a tremendous resource when moving into a
new global market."
"State Street's top ranking in Global Custodian's annual survey
reflects our commitment to meeting the complex servicing needs of mutual
funds worldwide," said Joe Antonellis, vice chairman of State Street.
"Our ongoing investments in technology and expertise are designed to
ensure that customers continue to receive this superior level of
service."
Global Custodian noted that State Street, while improving its
rankings, drew more respondents than any other provider in the survey.
"With half as many respondents more than its nearest rival, State Street
lifted its average scores by significant margins in every service area."
About State Street
State Street Corporation (NYSE: STT) is one of the world's leading
providers of financial services to institutional investors including
investment servicing, investment management and investment research and
trading. With $16.4 trillion in assets under custody and administration
and $1.6 trillion in assets under management at June 30, 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.
Source: State Street Corporation
Contact: State Street Corporation
Carolyn Cichon, +1 617-664-8672