Rapport de stage "State Street Bank"

Extract

[...] Management I would like to tell a few words about management in State Street Bank Luxembourg. I saw a important turn over. People spend few years in fund administration and leave the bank. According to me, the job is too much fragmented and employees lose the aspect of fund management. Tasks look very administrative. Futures wishes After those three months, I have a brief vision of the fund management. I discovered the Trustee service and it's function. The fund administration is a great job to start in professional life but I don't think it's a job I would keep [...]

[...] Every year, the mutual fund company has to give the NAV (Net Asset Value) of each fund to Luxembourg's administration. Then, the mutual fund company has to calculate the amount of the due tax. The calculation is very simple. The annual rate is of NAV. Some funds are taxed to a rate of if the policy of the fund is to invest in money market instruments or deposits with credit institutions. The tax is paid quarterly to the Administration de l'Enregistrement et des Domaines Succession et Taxes d'abonnement. [...]

[...] Checking the recording of the funds: State Street is a reactive bank. It means that it has to adapt itself to it's clients needs, to the market and to every others elements. That's why State Street often creates new funds. Many steps are required to launch a new fund. As far as DB Trustee service is concerned, we had to check if the funds were well recorder in the computer system and if the localization (Luxembourg) was correctly determined (because it's the determinant factor for the taxation). [...]

[...] tax-exempt assets 2 investment manager overall in the world Largest custodian worldwide Largest investment manager of institutional assets worldwide Leading offshore fund service provider worldwide Leading provider of securities finance services worldwide Their core business State Street is an essential component in the clients' business strategies. They provide service solutions that help make their clients fundamentally stronger. They help institutional investors achieve the best results possible in a variety of ways: Offering a complete and connected set of industry-leading services Helping to achieve better results by providing the research and intelligence needed to make fully informed decisions Providing connections to financial markets and increasing access to financial opportunities Staying ahead of and anticipating needs for new products and investment strategies Making their operations efficient and error-free With $ 9.6 trillion in assets under custody and $ 1.4 trillion in assets under management, State Street operates in 24 countries and more than 100 local markets worldwide. [...]

[...] Street is the world's leading provider of services to institutional investors. Their clients are some of the world's most influential investors. Their requirements are very sophisticated. State Street Bank offers three core capabilities: - investment servicing, - investment management, - Investment research and trading. Those services can be used independently or together according to the clients' business strategies. For decades, they have been committed to ensuring that their clients' assets perform as well as they can, while being as safe as they can be. [...]