STATE STREET RESEARCH AWARDED NEW INSTITUTIONAL BUSINESS FROM AUTOMOTIVE INDUSTRIES PENSION TRUST
BOSTON, MA, February 12, 2001- State Street Research & Management Company,
with a 77-year history of managing money for institutional investors,
announced today that it has been selected by the Automotive Industries
Pension Trust for a Small Cap Value Equity mandate of $55 million.
The Automotive Industries Pension Trust is a multi-employer trust consisting
of approximately 900 employers involved with servicing the automotive
industry. The Trust's board consists of representatives of the following
unions: Teamsters, Painters and Machinist, as well as Management
representatives for the employers.
"Our commitment to servicing the unique needs of our Taft-Hartley prospects
and clients remains at the forefront of our goals and objectives for the
firm," said Steve Loizeaux, Vice President, Taft-Hartley Markets at State
Street Research & Management.
"We are extremely excited about this opportunity. The firm's small cap
value team has nearly 40 years of industry experience and a legacy of
providing clients with superior money management," said Chris Abbott,
Executive Vice President, Head of Institutional Marketing and Client
Service.
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 December 31,
2001, State Street Research managed $46.2 billion in assets, of which $28.5
billion represented institutional clients and $17.7 billion represented
mutual fund and variable annuity portfolios. The firm has managed pension
money for many of the largest U.S. corporate pension plans for over 30
years. State Street Research also manages money for union retirement
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 .
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