State Street Enhances Fund of Hedge Fund Services Offering

October 19, 2009 ( - State Street Corporation announced enhancements to its fund of hedge funds service offering.

According to a news release, State Street’s product suit for hedge fund managers includes acombined full-service solution that includes not only custody, fund accounting, cash management, registration, risk services, investor services and credit, but also integrated portfolio construction tools that incorporate current and prospective fund investments.  

The news release said the beefed-up services provide ease of access to State Street’s fund administration services through a Web-based platform,AlphaFrontier. The fund of hedge funds services can be customized as a full-service model, a cross-enterprise service solution or as a targeted set of services.

“State Street supports the fund manager’s investment lifecycle and provides additional transparency into underlying securities positions through exposure reporting, as well as stress-testing and back-testing capabilities,”   said Jack Klinck, executive vice president and global head of State Street’s Alternative Investment Solutions group, in the news release.  

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