BOSTON State Street Corp. said it will handle fund accounting, daily pricing, and financial reporting for all fund management companies owned by Liberty Financial Cos. of Boston.
Liberty Financial has 141 portfolios, with $39 billion of assets. State Street said Monday that it would be responsible for calculating 357 net asset values for these funds on a daily basis.
State Street is the largest provider of fund accounting and administration services in the United States. According to Securities Data Publishings annual Fund Accounting Service Guide, State Street services $1.4 trillion of assets.