State Street Corporation, provider of financial services to institutional investors, has expanded its relationship with PensPlan Invest SGR, an Italian Asset Management company, and Lemanik Asset Management Luxembourg S.A., an independent UCITS 3 Management Company to service the new Luxembourg-based PensPlan Sicav.
State Street will provide fund accounting, global custody, transfer agency and reporting and compliance services to the new fund. Italian-based PensPlan appointed State Street last year to provide a range of investment services for its Italian institutional clients.
PensPlan Invest SGR is based in the northern region of Trentino/AltoAdige Sdtirol, Italy and delivers asset management, risk management, manager selection and asset liability modeling to pension funds and institutional investors throughout Italy. State Street’s operation in Luxembourg will service the newly established PensPlan Sicav.
“Since we appointed State Street to support our business in various locations, they have demonstrated their ability to understand our needs,” said Florian Schwienbacher, administration manager of PensPlan Invest SGR. “We are pleased with the services that State Street has provided and are confident that we will continue to benefit from their global expertise and strong technology support.”
Lemanik Asset Management Luxembourg S.A. is the promoter of the SICAV as well as the management company. PensPlan will manage the fund as well as serve as its main distributor. Last year Lemanik also appointed State Street in Milan as local paying agent (Italian Banca Corrispondente) for its two Luxembourg-based Sicavs.
“State Street’s service solutions will help us create additional efficiencies for our new fund and will reinforce our strong relationship with them,” said Philippe Meloni, managing director of Lemanik.
D.C.