European Hedge Fund Administrator of the Year

There was a strong consensus among judges that State Street is the best firm out of the entries to the 2008 awards for administering hedge funds.

State Street’s Alternative Investment Solutions group (AIS) brings a comprehensive and dedicated focus to serving the most demanding operational needs from a diverse base of hedge fund managers. With more than 150 investment manager relationships State Street AIS supports over 1,300 alternative portfolios. In 2008, the firm continued to meet its growth objectives by adding more than $30bn (€23.4bn) in alternative assets under administration and now currently services in excess of $400bn of hedge fund assets.

State Street’s commitment to meeting the needs of the European hedge fund industry was demonstrated through its acquisitions of International Fund Services in 2002 and Investors Bank & Trust in 2007, both of which further strengthened State Street’s hedge fund servicing operations in Ireland.

State Street says the firm’s customers benefit from a selection of unique product offerings, including a market-leading accounting platform, specialised middle-office services (with particular expertise in pricing OTC derivatives) and front-office services including two complementary risk management solutions – one to measure market risk and the other to evaluate portfolio risk via data management analysis, portfolio construction and reporting tools.

Click the screen for a video of the award presentation.

Also shortlisted ... 

Citi
Citi has become one of Europe’s leading hedge fund administrators in terms of assets under administration, service offerings, new mandates and survey rankings. The rise is a result of the combined Citi/Bisys offering which gives clients end-to-end hedge fund solutions through a single global system set supported by a team of industry experts.

HSBC Securities Services
With over 40 years’ experience, HSBC Securities Services has a strong track record in administering complex instruments. This adds considerable expertise and consistency to its valuation process. The firm values a wide range of instruments and asset classes transparently and reliably.

UBS Global Asset Management - Fund Services
Having €30bn in assets under administration, UBS Global Asset Management Fund Services serves a diverse client base on a global platform, offering tailored solutions to all clients and fund types. Core capabilities include support in fund set-up, accounting, NAV calculation and shareholder services.