State Street Global Advisors (SSgA), the investment management business of State Street Corporation (NYSE:STT), has announced today that it has been appointed by Merseyside Council to manage £1.4 billion in assets of its pension fund, bringing the assets SSgA manages for the Local Authority sector to more than £7 billion.
Merseyside Council has selected SSgA’s Managed Pension Funds Limited (MPF) fund, a UK-domiciled pooled fund vehicle for pension fund investors, for this mandate. MPF offers a suite of pooled funds across the major asset classes and provides investors with cost-effective access to a broad range of investment strategies. The assets from this latest mandate will be allocated among passive UK, North America and Index-Linked Gilt funds within the firm’s Managed Pension Fund vehicle.
Paddy Dowdall, investment manager at Merseyside Council said, “SSgA is a leading index manager and having thoroughly reviewed its service, we believe it offers the most attractive investment solution for managing this mandate in terms of quality and price. We selected SSgA for several reasons, including its high performance levels, broad range of services and strong risk controls and we are delighted to be working with them for this mandate.”
Susan Raynes, head of SSgA’s UK, Middle East and Africa (UKMEA) business, added, “We are committed to providing the Local Authority sector with an array of investment management solutions to guide them through the many challenges and opportunities the industry faces. We are extremely pleased Merseyside Council has selected SSgA’s MPF fund for this mandate and look forward to building our relationship.”About State Street Global Advisors State Street Global Advisors (SSgA) is a global leader in asset management. The firm is relied on by sophisticated investors worldwide for its disciplined investment process, powerful global investment platform and access to every major asset class, capitalization range and style. SSgA is the asset management business of State Street Corporation, one of the world’s leading providers of financial services to institutional investors.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV