State Street to Service $93.6 Billion in Assets for Hartford Funds
State Street Corporation (NYSE:STT) , announced today that it has been appointed by Hartford Funds to assist in providing custody and accounting services for $93.6 billion in assets under management, which includes $20.6 billion in mutual funds supporting variable annuity and investment products. Hartford Funds is a leading provider of mutual funds.
“After an extensive review of potential providers, State Street emerged as a choice partner for our business,” said Greg Frost, Chief Financial Officer of Hartford Funds. “State Street’s depth and expertise will enable our business to better serve our fund shareholders going forward.”
“We are very pleased to be selected by Hartford Funds,” said Peter Thurmond, senior vice president, sector solutions, State Street. “Industry wide, there is an appetite for change and focus on building strong technology foundations that can better serve portfolios. As operating models continue to shift across the industry, State Street’s integrated platform for custody and administration and continued investment in technology can help clients improve investment returns, manage risk, and seize new opportunities.”
About State Street
State Street Corporation (NYSE:STT) is one of the world’s leading provider of financial services to institutional investors including investment servicing, investment management and investment research and trading. With $28.19 trillion in assets under custody and administration and $2.45 trillion* in assets under management as of December 31, 2014, State Street operates in more than 100 geographic markets worldwide, including the US, Canada, Europe, the Middle East and Asia. For more information, visit State Street’s web site at www.statestreet.com.
* Assets under management include the assets of the SPDR(R) Gold ETF (approximately $27.3 billion as of December 31, 2014), for which State Street Global Markets, LLC, an affiliate of SSgA, serves as the distribution agent.
About Hartford Funds
Founded in 1996, Hartford Funds is a leading provider of mutual funds. The Company offers a broad range of actively managed strategies designed to provide solutions for a variety of investment needs. Hartford Funds has mutual fund assets under management of $73.0 billion as of December 31, 2014 (excluding assets used in certain annuity products). For more information about the fund family, visit www.hartfordfunds.com.
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