State Street, the largest U.S. mutual fund service provider, said it would provide fund accounting and certain fund administration services for Scudder including 200 mutual funds, fund of funds, variable annuity and certain defined contribution products.
In addition, State Street will be responsible for calculating daily net asset values per share for approximately 515 share classes. Scudder, a division Deutsche Asset Management, manages more than $135 billion in assets.
The firm will also serve as administrator and custodian for Aons new Ireland-based umbrella fund, which currently holds 300 million pounds of assets.
