MetLife Investors have chosen State Street to provide its Met Investors Series Trust with custody, fund accounting, fund administration and securities lending services. State Street will also serve as transfer agent for the $2.5 billion Trust.
The Trust currently comprises 23 portfolios.
State Street services over 100 insurance firms in the United States.
“State Street’s focus and the breadth of its industry knowledge and technology expertise were key factors in our decision to appoint them as servicer for our variable insurance portfolios,” said Elizabeth Forget, president of Met Investors Series Trust. “The investment servicing package offered by State Street provides us with critical support and allows us to focus on our core business – providing our clients with competitive retirement products – with the confidence that our portfolios are well serviced.”