State Street Boston Corp. has completed an end-of-the-year deal to provide custody services for the world's largest mutual fund.

Last week, the banking company was awarded the custody contract for Fidelity Investments' $53 billion-asset Magellan Fund. State Street replaces Brown Brothers Harriman & Co., which had been custodian for the portfolio since 1963.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.