State Street and Boston Financial Data Services have been appointed by Transamerica Asset Management to provide a full range of investment services for over $55.5 billion in assets.
The new mandate is an expansion of a long-standing relationship whereby State Street currently serves as custodian and accounting agent for Transamerica mutual funds. State Street will provide Transamerica with a range of fund administration services, including financial reporting, expense administration and compliance monitoring.
Boston Financial, a joint venture of State Street and DST Systems, will begin a new relationship by providing shareholder recordkeeping, investor and intermediary servicing, and compliance services.
“We have enjoyed a very successful, strategic partnership with State Street, so it was a natural choice when we sought a provider for fund administration services that we had confidence in,” said Tom Swank, president and CEO, Transamerica Individual Savings & Retirement.
“Boston Financial has a strong reputation as a leading solutions provider with a range of services that complements State Street’s offering. We look forward to working with Boston Financial and State Street to further strengthen our overall operational capabilities.”
Other services to be provided by State Street include performance reporting, tax administration and legal administration.
(JDC)