State Street Announces New ETF Servicing Arrangement with VanEck
December 12 2019 - 9:00AM
Business Wire
Firm Also Reaches US $3 Trillion in ETF Assets Under
Administration Milestone
State Street Corporation (NYSE:STT), one of the world’s leading
providers of financial services to institutional investors,
announced today it has expanded its servicing arrangement with
leading global investment firm, VanEck, to provide Exchange Traded
Fund (ETF) services for nearly $40 billion of its clients’
assets.
“We are pleased to build on our existing relationship with
VanEck and announce this new servicing arrangement,” said Frank
Koudelka, Global ETF Product Specialist at State Street. “We
continue to devote significant resources to servicing the ETF
structure and continually seek to improve our proprietary, core
platform as well as providing strategic advice to our clients.”
As part of this arrangement State Street will provide a variety
of back office services, including accounting and certain
administration functions, for more than 60 VanEck funds.
“State Street has long been considered a pioneer in the ETF
servicing industry,” said John Crimmins, Chief Financial Officer,
Mutual Funds and ETFs, from VanEck. “We are confident that their
technology, along with their dedicated staff that understands the
ETF ecosystem, will enhance our ability to service shareholders and
will allow us to focus on creating new and innovative ETFs.”
State Street also announced that it now services close to 70
percent of US ETF and exchange trade products (ETP) assets under
management.1 Additionally, State Street was recently named Best ETF
Administrator for the 2019 Fund Intelligence Operations and Service
Awards and Best ETF Administrator and Best ETF Custodian at the
2019 ETF Express Awards.
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 $32.90 trillion in assets
under custody and administration and $2.95 trillion* in assets
under management as of September 30, 2019, State Street operates
globally in more than 100 geographic markets and employs
approximately 40,000 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 $44
billion as of September 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.
State Street Corporation One Lincoln Street, Boston, MA
02111-2900.
The whole or any part of this work may not be reproduced, copied
or transmitted or any of its contents disclosed to third parties
without State Street’s express written consent.
© 2019 State Street Corporation - All Rights Reserved
Expiration Date: 12/31/2020
2868226.1.1.AM.RTL
1 ETFGI U.S. ETF and ETP October 2019 report
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version on businesswire.com: https://www.businesswire.com/news/home/20191212005115/en/
Brendan Paul +1 401 644 9182 Bpaul2@statestreet.com
@StateStreet
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