State Street Corporation has been appointed by Hartford Funds to assist in providing custody and accounting services for USD93.6 billion in assets under management.
This includes USD20.6 billion in mutual funds supporting variable annuity and investment products. Hartford Funds is a leading provider of mutual funds.
“After an extensive review of potential providers, State Street emerged as a choice partner for our business,” says Greg Frost, Chief Financial Officer of Hartford Funds. “State Street’s depth and expertise will enable our business to better serve our fund shareholders going forward.”
“We are very pleased to be selected by Hartford Funds,” says Peter Thurmond, senior vice president, sector solutions, State Street. “Industry wide, there is an appetite for change and focus on building strong technology foundations that can better serve portfolios. As operating models continue to shift across the industry, State Street’s integrated platform for custody and administration and continued investment in technology can help clients improve investment returns, manage risk, and seize new opportunities.”