State Street Wins Custody and Accounting Mandate for $93.6 Billion in Mutual Funds

State Street has won a mandate from mutual fund provider Hartford Funds to provide custody and accounting services for $93.6 billion in assets under management.
By Jake Safane(2147484770)
State Street has won a mandate from mutual fund provider Hartford Funds to provide custody and accounting services for $93.6 billion in assets under management.

All of the assets fall within the mutual fund category, including $20.6 billion that support variable annuity and investment products.

“After an extensive review of potential providers, State Street emerged as a choice partner for our business,” says Greg Frost, chief financial officer of Hartford Funds. “State Street’s depth and expertise will enable our business to better serve our fund shareholders going forward.”

“Industry wide, there is an appetite for change and focus on building strong technology foundations that can better serve portfolios,” says Peter Thurmond, senior vice president, sector solutions, State Street.

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