AXA Investment Managers (AXA IM) has renewed its investment operations outsourcing mandate with State Street for further five years.
State Street was first appointed by AXA IM in December 2004 to provide middle-office services, including transaction management, investment books and fund accounting, collateral management, performance measurement and reporting, across three countries for 300 billion in assets.
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Since 2004, both the firms have broadened their relationship and State Street now services more than 1200 AXA IM funds and mandates with approximately 500 billion assets.
The relationship has also expanded globally and now includes servicing in ten different locations across Asia Pacific, Europe and the US.
Christophe Coquema, chief operating officer of AXA Investment Managers, said: "This contract extension is a reaffirmation of our confidence in State Street’s ability to support our growth plans worldwide, and recognition of the quality service they deliver to us and to our clients."
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