Customers Cite International Fund Services’ Expertise and Advanced Technology Systems as Key Strengths
State Street Corporation (NYSE: STT), the world’s leading provider of financial services to institutional investors, announced today that its hedge fund administration company, International Fund Services (IFS), achieved top rankings for the fourth consecutive year in Global Custodian magazine’s annual Hedge Fund Administration Survey. The 2007 survey rated 20 service providers, the highest number ever.
IFS ranked first among managers with more than $1 billion, and achieved recognition as one of the top service providers in the Overall and Single Strategy categories. According to Global Custodian, “IFS maintains its impressive record in this survey.”
“International Fund Services’ greatest strength is the people that they employ and the culture that seems to be incredibly consistent throughout the firm,” said one of respondents, an IFS client. “We are extremely confident in the services they provide us and consider them a true extension of our team.”
“IFS offers industry leading technology platforms, the most adaptable and accurate reporting package, and a staff that provides superior knowledge and overall customer relations of any administrator today,” added another respondent.
“As the hedge fund industry grows ever more complex, having the right technology and expertise in place is key to a successful servicing relationship,” said Gary Enos, executive vice president and head of hedge fund services for State Street. “These survey results confirm that our ongoing focus on customer service remains paramount.”
State Street provides a complete set of servicing and management solutions for hedge funds including recordkeeping, fund accounting, valuation, risk management and regulatory reporting.
State Street Corporation (NYSE: STT) is the world's leading provider of financial services to institutional investors, including investment servicing, investment management and investment research and trading. With $13.0 trillion in assets under custody and $1.9 trillion in assets under management at June 30, 2007, State Street operates in 26 countries and more than 100 geographic markets worldwide. For more information, visit State Street’s website at www.statestreet.com.