05.15.2020

State Street To Provide Outsourcing For Hedge Funds

05.15.2020

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.

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

Related articles

  1. The fund manager recently announced connectivity between Coinbase and the Aladdin platform.

  2. New Emir Reporting Requirements Kick In

    MFA says proposal will impair managers' ability to deliver for investors.

  3. Jacobi Asset Management has hired an ex-BlackRock executive as its new CEO.

  4. Assets in global ETFs were $5 trillion larger than assets invested in global hedge funds at the end of Q2.

  5. Institutions can manage their bitcoin exposures in existing portfolio management and trading workflows.