16 August 2017
Find out more

State Street wins Baron Funds deal

12 July 2007  |  1724 views  |  0 Source: State Street

State Street Corporation (NYSE: STT), the world's leading provider of financial services to institutional investors, announced today that it has been appointed to provide custody, fund accounting and fund administration services for approximately $18 billion in assets for the Baron Funds' United States mutual funds.

"At Baron, we invest for the long-term and need a provider who can support our global growth," said Ron Baron, chairman and chief executive officer of Baron Funds. "Given State Street's leadership in the US mutual fund business and its overall commitment to the industry, we felt it was the best provider who could support the growth of our business. State Street was a good choice for us to consolidate our services."

This mandate builds on State Street's position as a worldwide leader in providing investment servicing to the US mutual fund industry. The industry has more than $10 trillion in assets under management, and last year grew by 15.5 percent. State Street is also the leading provider of fund accounting in the United States, servicing more than 40 percent of the mutual fund industry, and is the largest contributor of mutual fund NAVs to NASDAQ.

"We are delighted to forge this new relationship with Baron," said Alan Greene, executive vice president of State Street. "More and more fund complexes seek providers who can offer a broad range of solutions on a global scale. We are confident that our industry expertise in the US mutual fund business and global network will be essential components to helping Baron achieve their growth targets."

Comments: (0)

Comment on this story (membership required)

Related company news


Related blogs

Create a blog about this story (membership required)
download the paper nowvisit www.worldpaymentsreport.comvisit www.dorsum.eu

Top topics

Most viewed Most shared
hands typing furiouslyBI and Analytics - A New Perspective
10947 views 0 | 2 tweets | 12 linkedin
Coinbase raises $100mCoinbase raises $100m
10057 views comments | 14 tweets | 14 linkedin
DBS Bank launches online car selling marketplaceDBS Bank launches online car selling marke...
9414 views comments | 13 tweets | 11 linkedin
China preps central clearing house for mobile payments providersChina preps central clearing house for mob...
9162 views comments | 8 tweets | 15 linkedin
HSBC automates documentary trade processing with IBMHSBC automates documentary trade processin...
8279 views comments | 6 tweets | 21 linkedin

Featured job

£100-120K Basic dependent on experience plus subst...

Find your next job