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Aberdeen Standard Investments reappoints State Street to provide full range of investment servicing solutions

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State Street Corporation has been reappointed by Aberdeen Standard Investments (ASI) to continue to provide a variety of back office servicing solutions. ASI is a global asset manager dedicated to creating long-term value for its clients.As part of the renewal, State Street will provide global custody, accounting, and fund administration for ASI’s fund ranges in the United States and Canada.

In June, State Street released a research study that noted that institutional investors were retaining high levels of confidence in their asset managers amid the Covid-19 crisis. However, the survey also revealed that the pandemic has also created major challenges for managers and their back office functions; as 37 per cent of institutional investors found securities valuations ‘challenging’ or ‘extremely challenging’ during the crisis. This was followed by liquidity (34 per cent), timely reporting (34 per cent) and cash forecasting (30 per cent).

“The Covid-19 crisis has presented unparalleled challenges, and we remain committed to partnering with our clients to help them generate and sustain growth,” says Donna Milrod, head of the global clients division for State Street. “We are very pleased to extend our very important relationship with Aberdeen Standard Investments.”

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