State Street Achieves Top Rankings Across Ten Major Categories in Global Investor Magazine's Annual Transition Management Survey.Business Editors BOSTON--(BUSINESS WIRE)--April 21, 2004 Performance Highlights Value of State Street's Approach to Transition Management as an Investment Process State Street Corporation (NYSE NYSE See: New York Stock Exchange :STT STT State Street Corporation (stock symbol) STT Suomen Tietotoimisto (Finnish National News Agency) STT Secure Transaction Technology STT Surface Tension Transfer (welding) ), the world's leading provider of services to institutional investors Institutional Investor A non-bank person or organization that trades securities in large enough share quantities or dollar amounts that they qualify for preferential treatment and lower commissions. , announced today that it has achieved top rankings in ten key categories including relationship management and liquidity as part of Global Investor magazine's annual Transition Management Survey. State Street was also named "Best Transition Manager Overall," based on client satisfaction, by Asian and European responses to the survey, as weighted by assets. Global Investor, a leading industry publication for the international asset management community, polled more than 200 pension plans worldwide in a variety of categories to determine the top providers. In addition to its top rankings for best transition manager overall, State Street also garnered first place rankings in the following categories(1): most liquidity, best relationship management, best advice on project management, best analysis, most accurate shortfall estimation estimation In mathematics, use of a function or formula to derive a solution or make a prediction. Unlike approximation, it has precise connotations. In statistics, for example, it connotes the careful selection and testing of a function called an estimator. , best reporting capability, best fee structure, best operational efficiency, and best risk control. "We're delighted about our performance in this survey because our clients have ranked us so highly," said Nicholas Bonn, executive vice president and global head of equities for State Street Global Markets, the investment research and trading arm of State Street. "The results underscore The underscore character (_) is often used to make file, field and variable names more readable when blank spaces are not allowed. For example, NOVEL_1A.DOC, FIRST_NAME and Start_Routine. (character) underscore - _, ASCII 95. the value of our strategic approach and the power of our trading expertise and access to liquidity." State Street Global Markets provides institutional investors worldwide with unique proprietary research products that leverage State Street's unparalleled insights into investor behavior, electronic and block trading capabilities, transition management and rebalancing Rebalancing The process of realigning the weightings of one's portfolio of assets. Notes: For example, if your portfolio's proportion of stock has grown too large for your intended assets weightings and risk tolerance, you might rebalance by selling some stock and putting services, commission recapture recapture n. in income tax, the requirement that the taxpayer pay the amount of tax savings from past years due to accelerated depreciation or deferred capital gains upon sale of property. (See: income tax) RECAPTURE, war. programs and other portfolio management tools. In 2003, State Street surpassed $275 billion in assets transitioned for institutional investors; and over the past two years, State Street's transition management team has transitioned more than $500 billion for its clients worldwide. Earlier this year, State Street earned Roll of Honor status in Plan Sponsor magazine's first transition management survey in each of the categories of organization, post-trade and technology & operations. State Street Corporation (NYSE: STT) is the world's leading specialist in providing institutional investors with investment servicing, investment management and investment research and trading. With $9.4 trillion in assets under custody and $1.2 trillion in assets under management Assets Under Management (AUM) is a term used by financial services companies in the mutual fund and money management or investment management business to gauge how much money they are managing. , State Street operates in 24 countries and more than 100 markets worldwide. For more information, visit State Street's Web site at www.statestreet.com. Notes to editors: (1) Two sets of rankings were developed for each survey category: overall service and relative service. For overall service, respondents In the context of marketing research, a representative sample drawn from a larger population of people from whom information is collected and used to develop or confirm marketing strategy. rated transition managers' performance over a range of services provided. For relative service, the survey asked those respondents who used more than one transition management provider to rank the providers in 10 specific performance categories. |
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