State Street has been appointed as the ETF servicing agent for Water Island Capital’s first ETF, the AltShares Merger Arbitrage ETF, tracking the Water Island Merger Arbitrage USD Hedged Index. State Street will provide services including basket creation, settlement, custody, fund accounting, electronic order-taking, financial reporting, and transfer agency. State Street has worked with WIC closely for the past two years as it developed this ETF, and formed a launch project team. State Street has been providing custody, fund accounting and a broad range of fund administration services for WIC’s mutual funds for more than ten years. Water Island Capital is a privately-owned asset management firm focused solely on event-driven investment strategies with approximately USD2.5bn AuM at the end of 2019.
