Asia Pacific is viewed as a key growth market for State Street’s Alternative Investment Solutions division, following the firm’s decision to launc
Asia Pacific is viewed as a key growth market for State Street’s Alternative Investment Solutions division, following the firm’s decision to launch a suite of hedge fund services in the region reported AsianInvestor this week. Such services are already available to State Street’s hedge fund clients in the US and Europe but demand is rising as they expand into Asia to tap investor assets. Front office support in areas such as risk analytics and real-time P&L calculations is offered, in addition to mid- and back-office outsourcing. Singapore’s market regulator, the Monetary Authority of Singapore (MAS), consulted fund management companies last year on outsourcing fund administration functions as the city looks to strengthen its fund-servicing infrastructure. This was met with widespread approval. State Street plans on winning more fund services mandates in the region and recently appointed former Walkers managing partner Carol Hall to head up AIS in APAC. Hall reports to Bhagesh Malde, senior managing director of AIS in Boston. More complex and diverse hedge fund strategies are beginning to spring forth in Asia, with Hall quoted as saying: “We have seen a move by managers in the region to more complex strategies.” State Street’s fund services platform is geared towards handling myriad hedge fund strategies.
