Stichting Pensioenfonds SABIC Innovative Plastics, Groningen, Netherlands, has appointed State Street Corp. to provide global custody services, Pensions & Investments reports. The U.S. financial services holding company will also offer accounting, performance measurement and currency overlay services to the €700 million pension fund.
State Street had the ability to provide a wide variety of investment services for the pension fund, according to Arthur Smit, managing director of Stichting Pensioenfonds. The pension fund has been availing State Street’s investment analytics services since 1991, adds Fundamentals.
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