Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Calamos Hits the Street For More Back-Office Servicing Not Rated 0.0 Email Routing List Email & Route  Print Print
Monday, December 14, 2009

Calamos Hits the Street For More Back-Office Servicing

Reported by Patricia Kelly

State Street must have hit its stride with Naperville, Illinois-based Calamos Investments. On Monday, Calamos disclosed plans to consolidate all of its back-office operations -- including custody, fund administration and securities lending services for its mutual funds -- with State Street. Boston-based Barrington Partners assisted Calamos in the due diligence and selection process.

As part of the plan, State Street will assume back-office responsibilities for all of Calamos' collective fund structures, including open and closed end mutual funds, Dublin UCITS and private funds exceeding $21 billion in assets.

“By further consolidating our operations with State Street, it provided us with a seamless model which has resulted in additional efficiencies in our processes, enabling us to better serve our clients,” stated Nimish Bhatt, senior vice president of Calamos Advisors LLC and CFO of Calamos Funds. “State Street understands our complex investments and associated accounting requirements. The consistency and expertise of its fund accounting and fund administration teams also ensure continuity of service quality for our funds.”

State Street has been providing back-office services to Calamos for five years.


Company Press Release

BOSTON, Dec 14, 2009 -- State Street Corporation (NYSE: STT), one of the world's leading providers of financial services to institutional investors, announced today that it has further expanded its relationship with Illinois-based Calamos Investments (NASDAQ: CLMS). State Street will provide custody, fund administration and securities lending services to Calamos' collective fund structures including Open and Closed End Mutual Funds, Dublin UCITS and private funds exceeding $21 billion in assets. With this consolidation, State Street now provides full back-office services for all of Calamos' collective fund structures.

"By further consolidating our operations with State Street, it provided us with a seamless model which has resulted in additional efficiencies in our processes, enabling us to better serve our clients," said Nimish Bhatt, senior vice president of Calamos Advisors LLC and CFO of Calamos Funds. "State Street understands our complex investments and associated accounting requirements. The consistency and expertise of its fund accounting and fund administration teams also ensure continuity of service quality for our funds."

"We have enjoyed our partnership with Calamos during the past five years and appreciate the value it sees in expanding our relationship to include additional services," said Alan Greene, executive vice president of State Street. "Growing our market share within the US mutual fund arena will help ensure we stay ahead of the changes in the industry and develop solutions for our customers."

State Street is the leading provider of fund accounting in the United States, servicing more than 40 percent of the mutual fund industry, and is the largest contributor of mutual fund NAV's to NASDAQ.

Barrington Partners, based in Boston, Mass., assisted Calamos in the due diligence and selection process.

Calamos Investments has more than $30.5 billion in assets under management and provides investment advisory services to institutions and individuals seeking superior risk-adjusted returns over the long term. With roots dating back to 1977, the company applies its proprietary investment process across an expanding range of investment strategies within the equity, global/international, balanced, high yield, convertible and alternative investment classes. Calamos Investments is listed on the Nasdaq Stock Market and trades under the symbol "CLMS." For more information, please visit http://www.calamos.com.

State Street Corporation (NYSE: STT) is one of the world's leading providers of financial services to institutional investors including investment servicing, investment management and investment research and trading. With $17.9 trillion in assets under custody and administration and $1.7 trillion in assets under management at September 30, 2009, State Street operates in 27 countries and more than 100 geographic markets worldwide. For more information, visit State Street's website at www.statestreet.com.

SOURCE: State Street Corporation

State Street Corporation

Carolyn Cichon, 617-664-8672



 

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2021: Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly


  1. MFDF Director Discussion Series - Open Forum via Zoom (Midwest), March 10
  2. FinReg Outlook 2021, March 10
  3. Irish Funds North American Digital Seminar, March 11
  4. MFDF webinar - Municipal and Taxable Fixed Income — A Multi-Speed Recovery, March 12
  5. 2021 Virtual Mutual Funds and Investment Management Conference, Mar 15-19
  6. Women for Impact - A Call to Action, March 16
  7. SEC & DOL Standard of Conduct Rulemakings — Present & Future Considerations, March 23
  8. Expect Miracles Foundation's Virtual Mystery Game Night, March 24
  9. MFDF Director Discussion Series - Open Forum via Zoom, March 24
  10. ETFGI Global ETFs Insights Summit - ESG & Active ETF Trends, Mar 24-25
  11. MFDF webinar - Asset Management M&A for Fund Directors — Recent Trends and Governance Issues, March 31
  12. MFDF Director Discussion Series - Open Forum via Zoom, April 7
  13. MFDF In Focus: Board Oversight of Sub-advisers, April 15
  14. ETF.com Awards 2020, April 20
  15. The 31st Sub-Advised Funds Forum, Apr 20-21
  16. MFDF Director Discussion Series - Open Forum via Zoom (Northeast), April 21
  17. FIASI virtual event - ESG in Fixed Income: Shining a Light on Transparency, Apr 22-23
  18. 44th Annual AIMSE Marketing & Sales Conference, May 2-4
  19. MFDF Director Discussion Series - Open Forum via Zoom (Southeast), May 5
  20. ICI 2021 General Membership Meeting - Day 1, May 6
  21. ICI 2021 General Membership Meeting - Day 2, May 13
  22. 2021 FINRA Annual Conference, May 18-20
  23. MFDF Director Discussion Series - Open Forum via Zoom, May 19
  24. 2nd annual ETFGI Global ETFs Insights Summit - USA, May 19-20
  25. Irish Funds Online Annual Global Funds Conference 2021, May 19-20
  26. MFDF webinar - Fund Director Compensation: MPI Annual Survey (2021), May 20




©All rights reserved to InvestmentWires, Inc. 1997-2021
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use