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STATE STREET
SWFs shift to overseas investments
Global Pensions | 01 Mar 2010
GLOBAL – Assets under management of sovereign wealth funds (SWFs) fell by 3% in 2009 to around US$3.8trn but funds are looking to place a greater number of those assets outside their home country, a report by International Financial Services London (IFSL) revealed.
Chinese sovereign wealth fund uses ETFs for diverse exposure
CHINA - China Investment Corporation, the Chinese sovereign wealth fund, is using exchange traded funds to gain exposure to a diverse range of asset classes, according to a filing with the US Securities and Exchange Commission.
State Street settles with SEC
US – State Street Corp. has reached a settlement with the SEC and Massachusetts authorities that results in the firm ultimately paying US$663m to investors who lost money in active fixed income strategies run by State Street Global Advisors.
OTHER STATE STREET ARTICLES
No slowdown for commodities
Institutional investors flooded into commodities last year as prices soared. Industry experts say the asset class’ popularity isn’t likely to wane in 2010, as Lynn Strongin Dodds reports
State Street sued over 120/20 losses
US/NETHERLANDS – Dutch pension fund Stichting Pensioenfonds Medewerkers Apotheken (PMA) has filed a federal court lawsuit against State Street Bank and Trust alleging breach of fiduciary duties and securities fraud following losses in a 120/20 fund.
ETFs offer untapped potential for institutional investors
GLOBAL - ETFs are experiencing explosive product growth and offer untapped potential for institutional investors, according to a State Street report.
PPF launches search for global custodian
UK – The Pension Protection Fund has gone out to tender for a global custodian. The incumbent custodian is State Street.
GP’s top 10 news stories of 2009
As the year winds to a close, Global Pensions takes a look back at the top 10 most read news stories of the year.
State Street sued over 130/30 losses
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.
Caution needed on taking US dollar shorts
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.
Deutsche Bank sets up asset pooling structure
GERMANY – Deutsche Bank has set up a pension asset-pooling vehicle in Luxembourg aimed at its employees’ pension assets and at other companies’ funds.
State Street expands alternatives admin services with Mourant acquisition
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.
Missouri fund launches sec lending suit against State Street
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.
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