State Street recently took top honors in HFMWeek’s 2010 US Hedge Fund Services Awards. State Street was named “Best Administrator over $30 Billion in Assets Under Administration – Overall” in the award competition sponsored by HFMWeek magazine. The awards recognize excellence and innovation in the hedge fund servicing industry.
Judges in the 2010 US Hedge Fund Services Awards cited State Street’s response to industry challenges in 2009 and 2010, including its development of an advanced OTC valuation capability to help clients better manage risk. State Street introduced a new investor transparency tool for clients in response to demand for enhanced transparency reporting.
State Street also secured honors as European Private Equity Fund Administrator of the Year in the International Custody and Fund Administration (ICFA) European awards. The awards recognize, highlight and reward excellence and specific achievement in many sectors of the international investment back office.
State Street’s hedge fund services are part of its Alternative Investment Solutions group. With more than $625 billion in alternative assets under administration as of September 30, 2010, State Street’s Alternative Investment Solutions Group provides a complete suite of fund accounting, fund administration, corporate administration, risk and credit services to institutional investors, hedge fund managers, private equity fund managers and real estate fund managers. The team includes more than 3,000 employees worldwide.
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