STATE STREET RESEARCH AWARDED NEW INSTITUTIONAL BUSINESS FROM PLUMBERS AND PIPEFITTERS, LOCAL #4 PENSION FUND
BOSTON, MA, November 19, 2001- State Street Research & Management Company,
with a history dating back to 1924, announced today that the Plumbers and
Pipefitters, Local #4 selected State Street Research Aurora Fund for a $1.8
million small-cap value mandate, for its Pension Fund. The Pension Fund
represents $23 million in total assets and serves over 400 members.
"We are pleased to announce this new business win. For over 77 years, we
have been managing money for individuals and institutions. We believe that
union members participating in the Local #4 Pension Fund will benefit from
our vast experience and from the superior retirement planning support and
service we offer," said Chris Abbott, Executive Vice President, Head of
Institutional Marketing and Client Service Group for State Street Research &
Management Company.
State Street Research manages over $800 million in Taft-Hartley plan assets
as of September 30, 2001. For nearly three years, the firm has been managing
retirement assets for union members. State Street Research has a dedicated
team of professionals to market and service the Taft-Hartley markets.
State Street Research & Management Company, with a money
management history dating back to 1924, is one of the nation's first
investment management organizations. The Boston-based firm is a subsidiary
of MetLife, one of the world's largest financial services companies. As of
September 30, 2001, State Street Research managed $46 billion in assets, of
which over $30 billion represented institutional clients and $16 billion
represented mutual fund and variable annuity portfolios. The firm has
managed money for many of the largest U.S. corporate pension plans for over
30 years. State Street Research also manages money for union programs,
public employee pension plans, mutual funds for over 576,000 shareholder
accounts, as well as individually managed accounts for affluent investors.
The firm's Institutional Web site address is www.ssrinstitutional.com.
