State Street Corp. announced today that it has been appointed by ING Direct Canada to provide investment services and investment management for three new Streetwise funds.

State Street Global Advisors, the firm’s investment management arm, will manage four investment strategies on a sub-advisory basis in each of the Streetwise funds to be launched by ING Direct Asset Management Ltd.

Benchmarked to the Morgan Stanley Europe-Australia-Far East (MSCI-EAFE) index, S&P/TSX 60, S&P 500 and DEX Universe indices, the investment strategies to be managed by State Street include Streetwise Balanced Fund, Streetwise Balanced Income Fund, and Streetwise Balanced Growth Fund.

State Street will also provide custody, accounting, and fund reporting for the Streetwise funds.

With more than $700 billion in assets under custody and nearly $40 billion under management in Canada, State Street has provided solutions to Canada’s financial services community since establishing a presence in Toronto in 1990.

ING Direct is Canada’s largest direct bank with over 1.6 million clients and $24 billion in total assets.