State Street was selected by REST Industry Super as its new global securities lending agent, Financial Standard reports. As the lending agent, State Street will provide a securities lending program for the global bond and equity investments of REST.
Earlier in January 2011, State Street signed a long-term superannuation servicing agreement with REST to offer custody, fund accounting and complex tax services. REST is an Australian industry superannuation fund that has over $20 billion in funds under management.
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