Edinburgh, Scotland â 6 September, 2005 -- State Street Corporation (NYSE: STT), the world's leading provider of services to institutional investors, announced today that it has been reappointed by Liontrust Asset Management PLC to provide an expanded range of financial services. The agreement extends State Streetâs longstanding relationship with Liontrust, which currently has assets under management of more than Â£4 billion.
Under the terms of the agreement, State Street will continue to provide Liontrust with fund accounting, custody and trustee services. WM Performance Services, the European performance measurement division of State Street, will also provide Liontrust with a comprehensive client reporting package, including monthly and quarterly reports and performance analysis, as well as WMâs Global Investment Performance Standards (GIPS) verification reporting service.
"State Street has been a valued partner for more than 10 years," said Vinay Abrol, chief operating officer for Liontrust. "They have consistently delivered a high standard of investment services expertise to us, and we are delighted to announce the extension of our partnership, and indeed the expansion of it to encompass WMâs offering."
"Our relationship with Liontrust has gone from strength to strength, particularly in recent years," said Wade McDonald, head of State Streetâs Asset Management and Bancassurance Group in Northern Europe. âWe think it speaks very highly of our service quality and spirit of innovation that Liontrust, a legacy Deutsche Bank Global Securities Services customer, has continued to incorporate more and more of State Streetâs service offering over time. This latest expansion also testifies to WMâs position as the market leader across a wide range of performance evaluation and measurement services.â
State Street Corporation (NYSE: STT) is the world's leading specialist in providing institutional investors with investment servicing, investment management and investment research and trading. With $9.6 trillion in assets under custody and $1.4 trillion in assets under management (as at 30 June 2005), State Street operates in 25 countries and more than 100 markets worldwide.
WM Performance Services is one of the world's leading investment performance measurement businesses and is the European performance measurement division of State Street Corporation. Based in Edinburgh, London, Amsterdam, Paris, Frankfurt and Zurich, WM measures more than 5,000 investment portfolios based in the key global investment centres and provides an extensive range of services to support better investment decisions.