State Street To Sub-Advise New Socially Responsible Fund

October 23, 2002 ( - State Street Global Advisors (SSgA) will sub-advice a new Stancell Social Fund.

The Fund invests in securities of companies that satisfy certain social responsibility criteria and that generally promote the revitalization of distressed communities through their location in Federal Empowerment Zones and/or Enterprise Communities, according to a State Street press release.

A team with State Street Funds Management, Inc., an affiliate of State Street Global Advisors will manage day-to-day operation of the Fund.   The team will consist of five portfolio managers and 13 fundamental analysts who currently manage approximately $250 million in assets invested in socially responsible funds.