State Street has struck a partnership with The Spaulding Group, a provider of investment performance measurement services, to launch its Global Investment Performance Standards (GIPS) asset owner solution. The combination of State Street’s core performance services and operational support with The Spaulding Group’s educational, consulting, and verification capabilities aims to provide asset owners with the resources they need to meet GIPS compliance. The GIPS standards, created by CFA Institute, are a globally accepted set of standards for calculating and presenting investment performance based on the tenets of fair representation and full disclosure.
State Street is in a multi-year program to upgrade its services for asset owners globally. In 2019 it struck a deal with Solovis, a multi-asset class portfolio management, analytics and reporting platform for asset owners and allocators. State Street holds >USD5trn AuC for the global asset owner sector.