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Russell Investments appoints State Street to service new common contractual fund

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State Street Corporation (NYSE: STT) has been appointed by Russell Investments to service its new Irish domiciled common contractual fund (CCF).

State Street’s operation in Ireland will provide custody and fund administration services to the new Common Contractual US Equity Plus Fund, which is available to institutional investors.

State Street is Russell’s preferred service provider for core services including custody, accounting, administration, and transfer agency services and has enjoyed a longstanding relationship with the group. Today, close to 100 funds are serviced by the State Street team in Ireland for Russell Investments. 

"We are pleased to expand our relationship with State Street as we launch this new product in the Irish market” says Jim Firn, general counsel, EMEA, Russell Investments. “The CCF structure allows us to optimize returns for our clients, and compliments our existing range of Irish fund structures. State Street’s proven ability to administer the complexity related to the transparent nature of the product positions us well to develop this product into new markets."

William Slattery (pictured), executive vice president and country head for State Street in Ireland says: "As a leader in the provision of services to common contractual funds, we are delighted to have been chosen as Russell’s service partner for this product. We greatly value our long-standing relationship with Russell Investments, and are particularly pleased to work with them as they create and launch innovative new structures such as this CCF."

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