State Street Awarded New Mandate from ING
MONTREAL and TORONTO -- 03/05/2008
Appointment Includes Investment Services and Investment Management for Newly Launched Streetwise Funds

State Street Corporation (NYSE: STT), the world's leading provider of financial services to institutional investors, announced today that it has been appointed by ING DIRECT Canada to provide investment services and investment management for three new Streetwise funds.

State Street Global Advisors, the investment management arm of State Street, will manage four investment strategies in each of the Streetwise funds on a sub-advisory basis.

"The strength of the State Street organization, in both investment servicing and investment management, was a key factor in our decision," said Jeroen Smakman, vice president, mutual funds, ING DIRECT Canada. "Moreover, State Street brings a long-established local presence and successful track record in delivering high-quality, cost-effective solutions to the financial services industry in Canada."

State Street will provide custody, accounting, and fund reporting for the Streetwise funds to be launched by ING Direct Asset Management Ltd.

Benchmarked to the Morgan Stanley Europe-Australia-Far East (MSCI-EAFE) index, S&P/TSX 60, S&P 500 and DEX Universe indices, the investment strategies to be managed by SSgA include the Streetwise Balanced Fund, Streetwise Balanced Income Fund, and Streetwise Balanced Growth Fund.

"State Street Global Advisors is delighted to be awarded with this sub-advisory mandate for ING DIRECT Canada's new mutual funds; and we look forward to helping them reach their goals," said Gregory Chrispin, president and managing director of State Street Global Advisors in Canada. Stephen Smit, president of State Street Trust Company Canada, and head of investment servicing and investment research and trading in Canada, added, "With State Street's industry expertise in the Canadian mutual fund business, as well as our considerable experience with newly launched strategies, we are well positioned to help ING DIRECT Canada achieve its growth targets for the Streetwise funds."

MSCI indices are trademarks of Morgan Stanley Capital International. Standard & Poor's S&P indices are registered trademarksof Standard & Poor's, a division of The McGraw-Hill Companies, Inc.

The information we provide does not constitute investment advice and it should not be relied on as such. It should not be considered a solicitation to buy or an offer to sell a security. It does not take into account any investor's particular investment objectives, strategies, tax status or investment horizon. We encourage you to consult your tax or financial advisor. All material has been obtained from sources believed to be reliable, but its accuracy is not guaranteed. There is no representation or warranty as to the current accuracy of, nor liability for, decisions based on such information. Past performance is no guarantee of future results.

This news release may contain forward-looking statements, as defined by federal securities laws, including statements about the financial outlook and business environment. Any such statements are based on current expectations and involve a number of risks and uncertainties. Important factors, including those mentioned in this news release, that could cause actual results to differ materially are set forth in State Street Corporation's 2006 annual report and subsequent SEC filings. They include risks and uncertainties relating to the pace at which State Street Corporation ("State Street") adds new clients or at which existing clients use additional services, the value of global and regional financial markets, and the dynamics of the markets State Street serves. State Street encourages investors to review its annual report and SEC filings in conjunction with this announcement and prior to making any investment decision. The forward-looking statements contained in this news release speak only as of the date of release, March 5, 2008, and State Street does not undertake to revise those forward-looking statements to reflect events after the date of this release.
 
To Top