State Street

GLOBAL - ETFs are experiencing explosive product growth and offer untapped potential for institutional investors, according to a State Street report.

The recovery of defined benefit schemes and charity funds in 2009 was spearheaded by a "stellar" performance from risk assets, State Street Corporation says.

UK - The Pension Protection Fund has gone out to tender for a global custodian. The incumbent custodian is State Street.

As the year winds to a close, Global Pensions takes a look back at the top 10 most read news stories of the year.

US/NETHERLANDS - Dutch pension fund Stichting Pensioenfonds British American Tobacco (Pension Fund BAT) is suing State Street Bank & Trust for losses in a long/short fund run by State Street Global Advisors.

GLOBAL - Investors should be cautious in taking short positions on the US dollar despite signs the currency is becoming cheap against currencies such as the euro and the Australian dollar, State Street Global Advisors (SSgA) has warned.

GERMANY - Deutsche Bank has set up a pension asset-pooling vehicle in Luxembourg aimed at its employees' pension assets and at other companies' funds.

US/JERSEY - State Street has entered into an agreement to acquire Jersey-based fund administrator Mourant International Finance Administration in a move the firm claimed will make it the largest alternatives asset servicing company in the world.

US - The Public School and Education Employee Retirement Systems of Missouri (PSRS/PEERS) has sued State Street after the bank demanded the scheme return US$4.2bn into its securities lending program.

US - State Street Corp. said on Friday it added another US$250m into its legal reserve and entered into an $89.8m proposed settlement of a class action suit regarding strategies run by State Street Global Advisors.