State Street has been selected by Strategic Investments Group (SIG) to provide investment services for Strategic Active Trading Funds, SIG's new UCITS product that was launched in May with $250m in assets.
State Street’s operations in Ireland will offer fund administration services to the new fund.
Strategic Active Trading Funds provides exposure to a range of alternative investment strategies, with the aim of generating absolute returns, according to the State Street.
Deutsche Bank collaborated in the development of the fund and is conducting independent risk monitoring for the fund.
State Street European offshore domiciles head and executive vice president William Slattery said that the company is delighted to bring best-of-class manager of managers daily servicing capability to Strategic Investments Group’s innovative new product.
“We look forward to embarking on new relationships with SIG and Permal as they develop new solutions for the European investment industry,” Slattery said.