State Street has been appointed as the back office servicing agent for Harbor Capital Advisor, an investment management company based in Chicago, for its fixed income exchange-traded funds (ETF).
The two funds include Harbor Scientific Alpha Income ETF (SIFI) and the Harbor Scientific Alpha High-Yield ETF (SIHY).
State Street will provide various ETF servicing solutions including basket creation, dissemination and settlement, custody, fund accounting, N-PORT production, order-taking and transfer agency.
Frank Koudelka, global ETF product specialist at State Street, comments: “To support the launch of Harbor’s two ETFs, State Street used its experience in the market to educate the Harbor team regarding the idiosyncrasies of ETFs and guide the firm to industry best practice.”
Steve Cook, Harbor managing director and head of ETFs adds: “We are thrilled to extend our long-term partnership with State Street to bring the first of several active transparent ETFs to the marketplace. As State Street continues to be a leader in the ETF space, we believe they are positioned well to support our goals of bringing more compelling ETF investment solutions to our clients."
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