State Street wins sec lending mandate with ARCO 02 November 2015London Reporter: Drew Nicol
Image: Shutterstock
State Street has been appointed by ARCO to provide securities lending services.
ARCO, an Italian closed pension fund, chose State Street as part of its compliance with guidelines outlined earlier this year by the Italian pension fund regulator, the Commissione Di Vigilanza Sui Fondi Pensione.
The guidelines established the option of direct securities lending as an additional resource to help pension funds optimise the oversight of their investment management activities.
Massimo Malavasi, general manager of ARCO, said: “Partnering with State Street will give us the option of using direct securities lending as an additional solution meant to support the optimisation of the investment management activities for the fund.”
“Their security lending services will also enable ARCO to get returns, which could be partially used to cover current investment management control and advisory expenses, as well as support and develop the finance department of the pension fund.”
Riccardo Lamanna, head of State Street in Italy, added: “Our experience with servicing pension funds means we can offer an integrated platform, with the ability to add further services when required.”
NO FEE, NO RISK 100% ON RETURNSIf you invest in only one securities finance news source this
year, make sure it is your free subscription to Securities Finance Times
Image: Shutterstock 