State Street Announces Enhancements to its Multi-Asset Class Platform through Strategic Partnership with Solovis
September 19 2019 - 8:45AM
Business Wire
State Street Corporation (NYSE:STT) today announced several
enhancements to its data-led, fully integrated analytics solution
designed specifically for asset owners. The multi-asset class
platform solution will improve transparency, alleviate complexity
and streamline performance tracking and regulatory reporting for
clients. As a result, critical data will be provided via a single
platform, enabling clients to manage, view and analyze their
investment universe from one central location. The enhancements
align with a strategic partnership the company has formed with
Solovis, a multi-asset class portfolio management, analytics and
reporting platform for asset owners and allocators.
Powered by DataGX®, State Street’s award-winning
data-as-a-service capability, this new multi-asset class platform
incorporates the Solovis analytics application and will seamlessly
manage data and traditional accounting book-of-record with
alternative asset data, including third-party information. Clients
will receive information through the client portal, where they can
access performance results, measure against industry data and
create custom reporting. The platform will serve as a centralized
location to let clients view and run different scenarios for
performance, attribution, and ex-post risk across all asset
classes.
“Institutional investing dynamics have shifted significantly
over the past decade, and the resulting increase in outsourced
manager relationships and alternative investment allocations are
making it difficult for investment teams to gain a holistic,
accurate view of portfolio performance and exposure,” said Josh
Smith, co-founder and CEO of Solovis. “We are pleased to partner
with State Street to enable a true multi-asset class portfolio
management experience that aligns data, people and processes for
more accurate, informed insights across the entire portfolio. This
alignment will create a truly game changing experience for asset
owners.”
State Street’s multi-asset class platform offers asset
allocators a single platform that provides insights into
performance, risk, cash management and more. The capabilities
enabled by Solovis empower clients to calculate performance at
every level of a portfolio with all available data points,
calculate liquidity on select investments or for the whole
portfolio, and analyze exposures across public and private
assets.
“The complexity of today’s investment landscape has increased
the need for greater transparency across all asset classes and
portfolios,” said Brenda Lyons, head of product for State Street
Global Services. “For example, asset owners are increasing
allocation to alternatives, which require more robust analytics and
reporting than traditional assets. To meet this demand for
increased visibility, we’ve partnered with Solovis and designed a
comprehensive, multi-asset class platform that will equip firms
with the information and insights they need to track performance
and identify new opportunities for growth.”
About State Street Corporation
State Street Corporation (NYSE: STT) is one of the world's
leading providers of financial services to institutional investors,
including investment servicing, investment management and
investment research and trading. With $32,754 billion in assets
under custody and administration and $2,918 billion* in assets
under management as of June 30, 2019, State Street operates
globally in more than 100 geographic markets and employs
approximately 39,000 worldwide. For more information, visit State
Street's website at www.statestreet.com.
* Assets under management include the assets of the SPDR® Gold
ETF and the SPDR® Long Dollar Gold Trust ETF (approximately $36
billion as of June 30, 2019), for which State Street Global
Advisors Funds Distributors, LLC (SSGA FD) serves as marketing
agent; SSGA FD and State Street Global Advisors are affiliated.
About Solovis
Solovis is leading fintech innovation for institutional
investors with a powerful cloud-based platform for multi-asset
class portfolio management, reporting and analytics – uniquely
designed for the limited partner community. Endowments,
foundations, pensions, OCIOs and family offices leverage Solovis to
transform how they collect and aggregate investment data, analyze
portfolio performance, model and predict future outcomes and share
meaningful portfolio insights with key stakeholders. The Solovis
institutional investment management technology platform enables
detailed analysis and dynamic data modeling across multiple
portfolios and pools of capital for actionable, transparent
insights that empower both operations and investment teams. Visit
www.solovis.com.
State Street Corporation One Lincoln Street, Boston, MA
02111-2900.
© 2019 State Street Corporation - All Rights Reserved
Expiration Date: 9/30/2020
2735034.1.1.AM.RTL
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Brendan Paul Bpaul2@statestreet.com +1 617 943 5368
Laura Mooney lmooney@solovis.com +1 469 472 1868
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