Strengthening Financial Synergies: State Street and Thornburg Forge Ahead

A Deepening Alliance for Advanced Investment Solutions

State Street Corporation has revealed the latest evolution in its nearly four-decade collaboration with Thornburg Investment Management. This renewed commitment is geared towards providing extensive support for Thornburg's recently launched Exchange Traded Fund (ETF) share classes, marking a strategic move to optimize investment offerings.

Comprehensive Service Framework for ETF Share Classes

Under the terms of this enhanced partnership, State Street will deliver an all-encompassing suite of services. These services include essential functions such as asset custody, meticulous accounting, the creation of ETF baskets, efficient transfer agency operations, and streamlined create-and-redeem order management, ensuring a holistic support system for Thornburg's new offerings.

Pioneering Active ETF Servicing in the United States

This mandate is particularly noteworthy as it represents only the second instance of an active ETF share-class servicing arrangement in the U.S. market. This achievement positions State Street at the forefront of facilitating sophisticated active investment strategies, providing asset managers with the flexibility needed to cater to evolving investor demands.

Thornburg's Strategic Shift Towards ETF Share Classes

Thornburg Investment Management, a global investment entity overseeing approximately $57 billion in assets, initially engaged with State Street in January 2025 for its inaugural collection of active ETFs. The current transition to ETF share classes is a deliberate strategic decision, driven by a growing investor appetite for diversified access to high-conviction equity and fixed-income strategies.

Leveraging Operational Expertise for Seamless Client Experience

Donna Milrod, State Street's chief product officer, emphasized the firm's extensive operational capabilities. She highlighted that this robust infrastructure empowers clients to concentrate on achieving superior investment outcomes, while benefiting from a consistent and efficient experience across various fund structures.

Reinforcing Global Leadership in ETF Services

This expanded partnership further solidifies State Street Corporation's esteemed status as the premier global provider of ETF services. By driving continuous innovation, particularly for active managers within the U.S. market, State Street continues to shape the landscape of investment solutions.

State Street's Diverse Financial Offerings

State Street Corporation offers a broad spectrum of financial products and services tailored for institutional investors. These include critical services like custody, accounting, and fund administration for both traditional and alternative assets, alongside advanced trading platforms, securities finance solutions, and comprehensive investment analytics.