The US asset manager will integrate FactSet’s capabilities with its Alpha Data platform to offer functional experience from client portals for equity, fixed income and multi-asset strategies to custody.
State Street Alpha head and executive vice-president John Plansky said: “Data is at the heart of our Alpha strategy, and we remain committed to providing the leading data platform to the investment management industry to provide clients easy access to aggregated data, analytics and real-time insights.
“This partnership furthers our Alpha strategy by now enabling Alpha clients to create and analyse portfolios using FactSet.”
The integration of State Street portfolio accounting data into FactSet’s performance attribution, risk and reporting capabilities is expected to improve client experience across the back and middle office.
Additionally, FactSet’s portfolio analytics is also being integrated into the State Street Alpha Data Platform.
As part of the tie-up, portfolios in FactSet will update intra-day as trades are carried out and allocated in State Street’s Charles River Investment Management System through the Alpha Data Platform.
The proposed trades in FactSet will be moved to Charles River for compliance and order management.
FactSet CEO Phil Snow said: “Our clients consistently tell us that they are forging deeper, more strategic relationships with fewer partners and they expect their resulting partners to increasingly collaborate to better support them.
“This partnership exemplifies that concept, and I am thrilled that we are bringing our teams together to put clients first.”
Last September, Raymond James named FactSet as its market data provider for financial advisors in Canada.