News Briefs: SSgA assets up $200 billion as other firms report gains.(News Briefs)

Pensions & Investments, January, 2005

State Street Global Advisors had a record $1.4 trillion in assets under management as of Dec. 31, up from $1.2 trillion in the previous quarter, according to parent State Street Corp.'s quarterly earnings report. The increase was credited to new business and increased stock prices. State Street Corp.

earned $184 million, or 55 cents a share, on revenue of $1.3 billion; that's a rise from $177 million, or 52 cents a share, on revenue of $1.2 billion, in the third quarter. Assets under custody rose to $9.5 trillion from $9 trillion. "Having announced our 2005 goals in November 2004, we expect operating earnings per share growth of 10% to 15%, operating revenue growth of 8% to 12%, and an operating return on equity of 14% to 17%,'' Ronald E. Logue, State Street...

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