Brandes Investment Partners & Co. (BIPCo) has expanded its investment servicing relationship with State Street to include its Canadian pooled funds totalling $1 billion in assets.
State Street will provide custody, accounting, financial reporting and taxation services, securities lending and performance analytics and will be trustee and transfer agent for the funds.
“Our relationship with State Street is an important element of our overall business strategy, and we are thrilled to be expanding it by including the Canadian pooled funds,” said Oliver Murray, president of BIPCo. “State Street’s experience, expertise and in-depth knowledge of Canadian regulatory requirements allow us to focus simply on providing our clients with exceptional service and investment management.”
State Street provides Brandes with custody, fund accounting and fund administration services in addition to investment restriction reporting, performance and analytics, securities lending, commission recapture, investment management, transaction cost analysis and fair value pricing for its 14 retail mutual fund products in Canada, as well as for two funds in the U.S.
“We have enjoyed our association with Brandes since they entered the Canadian market, and we look forward to serving them well into the future,” said Kevin Drynan, managing director of State Street’s global services business in Canada.