Harbor Capital Advisors Appoints State Street for ETF Servicing

State Street Corporation recently announced that it has been appointed as the back office servicing agent for Harbor Capital Advisors' first actively managed fully transparent fixed income ETFs that were launched in September in the U.S. The two funds are the Harbor Scientific Alpha Income ETF (SIFI), and the Harbor Scientific Alpha High-Yield ETF (SIHY).

As part of the agreement, State Street will provide various ETF servicing solutions including basket creation, dissemination and settlement, custody, fund accounting, N-PORT production, order-taking and transfer agency.

"To support the launch of Harbor's two ETFs, State Street used its deep experience in the market to educate the Harbor team regarding the idiosyncrasies of ETFs and guide the firm to industry best practice, resulting in a successful launch," said Frank Koudelka, global ETF Product Specialist at State Street. "State Street's deep ETF expertise along with our consultative approach and integrated global technology have laid the groundwork for Harbor's ETF growth strategy."

"We are thrilled to extend our long-term partnership with State Street to bring the first of several active transparent ETFs to the marketplace. As State Street continues to be an industry leader in the ETF space, we believe they are positioned well to support our goals of bringing more compelling ETF investment solutions to our clients," commented Steve Cook, Harbor Managing Director and Head of ETFs.