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State Street awarded mandate by the City of Edmonton

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State Street, a provider of financial services to institutional investors, has been appointed by the City of Edmonton to provide custody and accounting, securities lending and trustee s

State Street, a provider of financial services to institutional investors, has been appointed by the City of Edmonton to provide custody and accounting, securities lending and trustee services for their portfolio of USD2.2bn in assets.

State Street Global Advisors, the investment management arm of State Street, has also been selected for an equity mandate. The City of Edmonton has invested in SSgA’s new investment offering, Canadian Alpha Edge, a 130/30 strategy.

‘State Street is a recognised leader in Canada, and we are delighted to capitalize on their depth of investment management and investment servicing capabilities in order to enhance the financial sustainability of our city,’ says Sandy McPherson, chief investment officer at City of Edmonton.

With more than 1,200 employees in Toronto, Montreal and Vancouver, State Street has provided a broad array of services to many of Canada’s leading institutional investors for more than 20 years.

‘We are pleased to be working with the City of Edmonton to build on the success of our Edge strategies, which seek to consistently add value through superior stock selection to increase the opportunity set for potential returns independent of market conditions,’ says Gregory Chrispin, president and managing director, State Street Global Advisors in Canada.

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