State Street announced it’s entered into an alliance with Coremont to provide fully integrated outsourcing services for hedge fund managers, covering front, middle and back office operations. Coremont is an FCA-regulated financial services firm that was spun out from hedge fund Brevan Howard.
This alliance combines Coremont’s portfolio management analytics and support with State Street’s asset servicing and administration capabilities to power the entire investment lifecycle from trading to risk management to NAV production. The offering spans all major asset classes including fixed income, currencies, equities, and commodities, with strong coverage in derivatives modelling and processing.
“This announcement marks a transformation in how hedge funds can be serviced, highlighting the invaluable insights data can bring when combined with new technologies,” said Paul Fleming, global head of Alternative Investment Services at State Street, in a statement. “Through this solution we are providing our clients with a single, consolidated set of records between portfolio managers and administrators, ensuring greater transparency and reduction of errors.”