State Street And Bank Of Ireland Asset Management Limited Announce Joint Alliance Tops EUR 5 Billion in Assets

State Street Global Advisors announced that its alliance with Bank of Ireland Asset Management Limited has gathered more than EUR 5 billion in assets to date. The alliance was formed in 2001 to jointly provide passive investment management services for

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State Street Global Advisors announced that its alliance with Bank of Ireland Asset Management Limited has gathered more than EUR 5 billion in assets to date. The alliance was formed in 2001 to jointly provide passive investment management services for Irish institutional investors.

The alliance’s most recent mandate was a EUR 630 million award from An Post, Ireland’s national postal service provider.

“With a growing number of Irish institutional investors seeking low risk and efficient passive investment solutions, we believe our alliance with BIAM is uniquely positioned to meet the needs of these customers,” said Paul Duncombe, managing director of SSgA London. “We look forward to continuing to help our alliance clients reach their investment objectives.”

For alliance clients, SSgA provides portfolio indexation services while BIAM provides asset allocation, as well as sales, marketing, and on-going client service. The assets are invested in a range of exempt unit trust funds, or tax efficient pooled funds for the Irish pension fund market.

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