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State Street to provide investment services for QIC fund

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State Street has been appointed to provide a range of investment services for QIC’s new Irish-domiciled qualified investment fund.

State Street will provide custody, fund administration and performance and analytics services for QIC, an Australian institutional fund manager. 

For the first time, QIC has made its Global Fixed Interest Alpha Fund available to investors outside Australia through Ireland’s qualified investment fund structure.
       
“In making our first move outside Australia, finding a service provider that could take on the full range of our servicing needs was important,” says Susan Buckley, QIC managing director of global fixed income. “With its global presence and local leadership in investment servicing from the back office to performance and analytics, State Street was the clear choice for this assignment.” 
       
The GFI Alpha Fund uses absolute return strategies across fixed income global macro markets and credit derivatives. 
       
“We are very pleased to be selected by QIC to provide a suite of investment services for its new Irish-based fund,” says Gavin Nangle, State Street vice president and head of business development in Ireland. “Faced with growing complexity and increased compliance requirements, more asset managers are choosing to outsource investment operations to full-service providers like State Street.”
       
Since its entry into the Ireland market in 1996, State Street has grown to be one of the country’s largest fund administrators and custodians and has local offices in Dublin, Drogheda, Kilkenny and Naas.

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