State Street Global Advisors (SSgA), the investment management arm of State Street, has been appointed by Liontrust Asset Management PLC (Liontrust) to manage a £75 million passive equity mandate for Liontrust’s Top 100 index fund. Liontrust currently has assets under management totaling £5.1 billion.
The fund’s objective is to match the capital performance of the FTSE 100 Index.
State Street Global Advisors is one of the world’s largest index managers, with more than £290 billion in passive equity assets under management worldwide. Its customized passive equity approach seeks to maximize client wealth in a risk-controlled environment, while minimizing portfolio turnover and transaction costs.
This mandate expands upon State Street’s ten-year relationship with Liontrust in which State Street provides fund accounting, custody and trustee services.
“We’ve chosen State Street Global Advisors as our index manager because of their industry-wide reputation and ability to achieve growth for their institutional clients,” says Vinay Abrol, chief operating officer for Liontrust. “State Street’s consistent delivery of a high level of investment services expertise was also a strong argument in their favour.”
“We are pleased to further expand our relationship with Liontrust to include investment management services for passive equity assets,” adds Kanesh Lakhani, head of European marketing and consultant relations at State Street Global Advisors. “Our ability to offer a wide variety of investment services and investment management strategies has positioned us for future success in Europe and worldwide.