Oh.
Are we talking North Korea or South Korea here?
HONG KONG, July 12, 2021 - State Street Corporation today announced that its service contract with the National Pension Service of Korea (NPS), the world's third largest pension fund[1], has been renewed. State Street will continue to provide back-office and middle-office services for the NPS global equity and alternatives portfolios which have KRW 222 trillion (USD 195 billion) and KRW 49 trillion (USD 43 billion) assets under management respectively[2].
Well, well ... okay. They don't want to say. It's probably North Korea. I don't know. / Oh, I think it's strange that they say "today announced" when this email is nine days old, but never mind. 'When did you receive the email, boss?' Nine days ago. 'I see.' Shut up!
Also notice ... they're failing to do the conceptual stuff properly. No no [3], and no repetition.
Anyway ...
"We are excited to be continuing our long-term partnership with the NPS," says Ian Martin, global head of Asset Owner Segment at State Street. "Over the past decade, the NPS has diversified its investment portfolio by raising allocations to foreign and alternative assets. Searching for returns across multiple asset classes requires a fresh approach to mitigating risk and managing data. We are proud to be helping the NPS harmonize and capitalize on data. This reappointment underscores our capabilities in terms of supporting pension funds to manage risk effectively, drive operational efficiency, balance liquidity and achieve better outcomes for their members."
Whatever, Ian. Whatever! I mean ... 'Are you in a bad mood this morning, boss?' I'm worn out by all this heat, Voice. I'm glad I cancelled my week off. I couldn't go out every day in this weather. 'Okay.' And I'm glad I didn't go to Cornwall because I watched Wycliffe yesterday. 'Eh?!' There was a deranged soldier with his killer dog on Bodmin Moor. 'Oh, okay.' Yeah. Number of the Beast. You've got to be careful down there, man.
Anyway ...
State Street has been providing custody, fund accounting, performance and analytics, mandate compliance and securities lending services to the NPS' global equity and alternatives portfolio since 2014. In 2018, the NPS appointed State Street to support its middle-office operations, including Investment Book of Record (IBOR) services, transaction management, trade processing and data consolidation and customization services.
Well ... I don't know what to say.
Let's finish with the Mostapha voice ...
"Over the past seven years, we have built a strong partnership with the NPS based not only our capabilities but also on our focus on continuous innovation and commitment to prioritize environmental, social and governance (ESG)," says Mostapha Tahiri, chief executive officer for Asia Pacific at State Street. "Sustainability is one of the six investment principles of the NPS and it is also a core value for State Street. We embed ESG principles into everything we do to create a more sustainable future for our business and the communities we serve. Many leading institutional investors in Asia Pacific, like the NPS, have been incorporating ESG factors into their investment processes. In the fast-paced, ever-changing financial services industry, we innovate constantly to help our clients stay abreast of and manage critical business issues."
Yeah, thanks for that.
ENDS
...
Anything else?
Well, the good news is ... I've done my hundred push-ups this morning. Just got them out of the way early. I mean, in this heat, you dig? Day twenty-five, yes.
Should I buy some more Kronenbourg? Those two cans were the first alcohol I've had for eighteen months. I mainly drink on holiday. I haven't been on holiday. Sure, I used to go to the pub down by the river, but ... I'm not going now with all the restrictions, man. You've still got to sign in or whatever. I don't know.
Forget about it.
Guitar? Christ! In this heat? I managed half an hour yesterday. Don't worry though, kook(s). I'm not giving up. Despite the heat, The Thing, my personal situation ... that Lennon audiobook has convinced me to stick to the plan of making the Twenties like the Sixties ... in my own image, you dig? Remember I said that? End of 2019? Whenever. 'The heat's gone to your head!' Ha, ha, ha!
Anyway ...
Laters.
