State Street prices mandates for onshore funds in Japan

State Street Trust & Banking has achieved a coup in the domestic fund-administration market in Japan by becoming the first foreign firm to price mandates for onshore investment managers. The bank quietly gained its first onshore fund-admin client in February 2009 and since then has secured two more. And it expects to sign two further clients by the end of the year, says Tokyo-based Andrew Erickson, president at State Street Trust & Banking. The company has only now spoken pu…