SVM Asset Management Taps State Street for Fund Administration

Edinburgh-based SVM Asset Management has tapped Boston, Mass.-headquartered State Street to run its fund administration activities, including global custody, investment accounting and trustee and depositary services.

International Financial Data Services, a joint venture between State Street and Kansas City, Mo.-headquartered software vendor DST Systems, will provide SVM's investor record-keeping and transfer agency solutions.

"State Street offered a one-stop service solution that allowed us to consolidate all investment administration activities into a robust service model through a single provider," says Carolina Viola, head of legal and compliance at SVM. "This decision will minimize our operational risk and help us to maximize economies of scale."