DUBLIN and 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 been appointed to provide investment services to hedge
fund group Marshall Wace for its new equity-neutral exchange traded fund
(ETF)- MW TOPS Global Alpha. According to Marshall Wace, it is the first
ETF targeting an absolute return from a single investment strategy and
the first ETF in Europe to be run by a dedicated alternative asset
manager.
The innovative fund, listed on the London and Frankfurt stock exchanges,
provides exposure to a range of investment strategies, comprising mainly
large-cap equities and equity-related securities. State Street's
operations in Ireland will provide a comprehensive range of custody and
fund administration services to the new fund.
Marshall Wace's decision was guided by State Street's experience in the
ETF servicing marketplace, its global presence and local leadership in
investment servicing, and its demonstrable expertise in supporting a
complex, high volume, UCITS compliant, daily valuing fund.
"We are delighted to have been selected by Marshall Wace to provide
investment services for this innovative new product," said Gavin Nangle,
vice president and Head of Business Development for State Street in
Ireland. "Marshall Wace is one of the leading forces in the alternatives
segment of the market and we look forward to building a meaningful and
long-term partnership with them."
Since its entry into the Irish market in 1996, State Street has grown to
be one of the country's largest fund administrators and custodians.
State Street has approximately 2,000 employees in Ireland and has
offices in Dublin, Drogheda, Kilkenny and Naas.
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 $19 trillion in assets under custody and administration
and $1.9 trillion in assets under management at March 31, 2010, State
Street operates in 25 countries and more than 100 geographic markets
worldwide. For more information, visit State Street at www.statestreet.com.
About Marshall Wace
Marshall Wace is one of the world's leading hedge fund groups managing
global equity long-short strategies. Marshall Wace was established in
1998 and today has offices in London, Connecticut and Hong Kong.
Source: State Street Corporation
Contact: State Street Corporation
Carolyn Cichon, 617 664 8672