A pension fund or a mutual fund may own thousands of shares and bonds, and someone has to hold them safely, record every trade, value them and report back. State Street does that work for mutual funds, retirement plans, insurers and foundations in more than 100 markets. If you save through a fund or a workplace pension, some of that money may sit in its care. It also runs an asset manager that invests money for clients. It is paid mostly in fees, plus interest on the cash clients leave with it.
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