State Street Extends Thornburg Partnership to Cover New ETF Share Classes | LeapRate | Online Trading Industry News, Broker Intelligence & Fintech Analysis
State Street has expanded its long-standing relationship with Thornburg Investment Management to provide end-to-end servicing support for the active investment manager’s new ETF share classes.
It marks only the second active ETF share-class servicing mandate in the United States.
The relationship between the two firms dates back to 1987 and has grown to encompass the full breadth of Thornburg’s product range, including mutual funds, ETFs, closed-end funds and UCITS vehicles.
Under the expanded mandate, State Street will deliver comprehensive ETF servicing for the new share classes, covering custody, accounting, basket creation, create-and-redeem order management, settlement, transfer agency and reporting.
Thornburg, headquartered in Santa Fe, New Mexico, manages approximately $57 billion in client assets and is known for its research-driven approach across equity, fixed income, multi-asset and alternative strategies.
The firm first partnered with State Street to launch its initial suite of active ETFs in January 2025, introducing ETF share classes that represent a further evolution of that platform.
Donna Milrod, Chief Product Officer at State Street, said: “Thornburg has a long history of delivering differentiated, actively managed strategies, and we’re proud to support the continued evolution of their ETF platform.”
Mark Zinkula, Chief Executive of Thornburg, described State Street as a trusted partner whose deep experience across fund structures positions it well to help the firm meet evolving client needs.
