State Street Corporation announced it has entered into an alliance with Coremont to provide fully integrated outsourcing services for hedge fund managers, covering front, middle and back office operations.

Through our alliance with Coremont, we’re delivering an integrated, front-to-back solution designed especially for hedge funds. Our clients will have the expertise, data and infrastructure they need to simplify the trade lifecycle, launch new funds and trade investment products.

— State Street (@StateStreet) May 14, 2020

This alliance combines Coremont’s portfolio management analytics and support with State Street’s asset servicing and administration capabilities to power the entire investment lifecycle from trading to risk management to NAV production. The offering spans all major asset classes including Fixed Income, Currencies, Equities, and Commodities, with strong coverage in derivatives modelling and processing.

“This announcement marks a transformation in how hedge funds can be serviced, highlighting the invaluable insights data can bring when combined with new technologies,” said Paul Fleming, global head of Alternative Investment Services at State Street. “Through this solution we are providing our clients with a single, consolidated set of records between portfolio managers and administrators, ensuring greater transparency and reduction of errors.”

“This alliance represents the fruit of our long-standing collaboration with State Street,” said Jev Mehmet, chief executive officer at Coremont. “It underlines our shared commitment to technological and operational excellence in the support of emerging and established managers of all styles and asset classes.”

Source: State Street