Northern Trust Co.
50 S. LaSalle St., Chicago, Ill. 60675; phone: (312) 630-6000; fax: (312) 630-6062
($ millions)
Domestic master trust assets445,000
Tax-exempt247,500
Taxable197,500
Domestic master custodial assets286,000
Domestic master trust clients:
Tax-exempt319
Taxable167
Domestic master custodial clients225
Account supervisors181
Reports available on-line:
Monthly transaction
Asset & liability
Performance measurement
Northern Trust Co. reported new, tax-exempt domestic master trust business of $16.171 billion in the year ended June 30 and new, tax-exempt domestic master custodial business of $40.8 billion.
The primary accounting method is trade date. Settlement date and cash are also offered.
Services offered in the basic master trust/master custodial agreement are accounting, reporting, income collection, capital change processing, trade settlement and safekeeping.
Securities lending, performance analysis, risk monitoring, benefit payment, STIF, investment management, proxy reporting, on-line services, daily valuation, actuarial services, participant record keeping and global custody are available for additional fees.
Record-keeping services offered include pension calculation, participant communication and education and full administrative outsourcing.
New features include enhanced performance analysis capabilities.
Fees are based on assets, market value and transactions.
The client contact is Steven J. Appell.
Norwest Bank
Sixth Street and Marquette Avenue, Norwest Center, Minneapolis, Minn. 55479-0065; phone: (612) 667-4055; fax: (612) 667-2356
($ millions)
Domestic master trust assets32,020
Tax-exempt20,000
Taxable12,000
Domestic master custodial assets8,000
Domestic master trust clients:
Tax-exempt98
Taxable46
Domestic master custodial clients52
Account supervisors7
Reports available on-line:
Monthly transaction
Asset & liability
Performance measurement
Benefit payment
Retiree information
Norwest Bank reported new, tax-exempt domestic master trust business of $685 million in the year ended June 30 and new, tax-exempt domestic master custodial business of $5.58 billion.
The primary accounting method is trade date, full accrual. Cash, settlement date, tax lot and modified cash also are offered.
Services offered in the basic master trust/master custodial agreement are global custody/safekeeping, global settlements, accounting/reporting, global income collection, proxy processing, pricing and on-line capabilities.
Performance measurement and analytics, global securities lending, cash management, on-line reporting and information, investment management and benefit payments are available for additional fees.
Record-keeping services offered include participant record keeping and unitized or dollar-based plan allocation reporting.
New features include on-line trade entry, benefit payment and universe comparison.
Fees are based on accounts, transactions and asset base.
The client contact is Ranee Jacobus.
PNC Bank N.A.
200 Stevens Drive, Suite 440, Lester, Pa. 19113; phone: (610) 521-7888; fax: (610) 595-4373
($ millions)
Domestic master trust assets193,100
Tax-exempt8,100
Taxable185,000
Domestic master custodial assets6,100
Domestic master trust clients:
Tax-exempt48
Taxable87
Domestic master custodial clients37
Account supervisors15
Reports available on-line:
Monthly transaction
Asset & liability
Performance measurement
Cash balance
Trade activity
Cash projections
Investment summary
PNC Bank N.A. reported new, tax-exempt domestic master trust business of $432 million in the year ended June 30 and new, tax-exempt domestic master custodial business of $1.5 billion.
The primary accounting method is settlement date. Trade date and accrual also are offered.
Services offered in the basic master trust/master custodial agreement are trade settlement, income collection, reorganization processing, cash management and consolidated statements.
Performance measurement, investment and unitized accounting are available for additional fees.
Record-keeping services offered include more than 50 statement packets and more than 400 information schedules.
New features include a domestic and global securities lending program.
Fees are based on assets and transactions.
The client contact is Edward A. Smith III.
State Street Bank & Trust
1 Enterprise Drive, North Quincy, Mass. 02171; phone: (617) 985-3784; fax: (617) 537-6600
($ millions)
Domestic master trust assets.....445,700
Tax-exempt436,500
Taxable9,200
Domestic master custodial assets561,600
Domestic master trust clients:
Tax-exempt317
Taxable1
Domestic master custodial clients179
Account supervisors57
Reports available on-line:
Monthly transaction
Asset & liability
Performance measurement
Analytics
Portfolio holdings
Security transactions
Foreign exchange transactions
Income receivables
Cash transactions
Multicurrency performance
Month-end reports
Trial balances
Graphics
Securities on loan
Cash forecasting
Electronic trade entry/delivery
State Street Bank & Trust Co. reported new, tax-exempt domestic master trust business of $18.2 billion in the year ended June 30 and new, tax-exempt domestic master custodial business of $67.1 billion.
The primary accounting method is trade date, full accrual. Tax lot and average cost are also offered.
Services offered in the basic master trust/master custodial agreement are safekeeping, full accrual accounting and reporting, trade settlement, cash management, income collection, proxy monitoring, corporate action monitoring, daily/weekly/monthly valuation, on-line access and reporting, plan accounting and investment manager liaison.
Performance measurement and analytic services, brokerage commission recapture, real estate and private market accounting and reporting, portfolio transition management, fixed-income portfolio reporting, investment management, securities lending, foreign exchange and investment policy reporting are available for additional fees.
Record-keeping services offered include participant record keeping, plan accounting, mutual fund accounting and insurance reporting.
New features include international futures and options accounting, pricing enhancements, new on-line services, investment policy reporting, enhanced performance and analytics, electronic trade delivery, fixed-income enhancements, investment manager data base, automated processing audits and income pay date enhancements.
Fees are based on asset values, number of transactions, number of portfolios and frequency of audited valuations.
The client contact is Robert R. Tarter.
SunTrust Banks Inc.
25 Park Place, N.E., Atlanta, Ga. 30303; phone: (404) 588-8636; fax: (404) 588-8136
($ millions)
Domestic master trust assets2,602
Tax-exempt2,544
Taxable58
Domestic master custodial assets5,233
Domestic master trust clients:
Tax-exempt29
Taxable1
Domestic master custodial clients23
Account supervisors5
Reports available on-line:
Monthly transaction
Asset & liability
SunTrust Banks Inc. reported new, tax-exempt domestic master trust business of $79 million in the year ended June 30 and new, tax-exempt domestic master custodial business of $160 million.
The primary accounting method is trade date income accrual. Cash, tax lot, settlement date, book value and other variations also are offered.
Services offered in the basic master trust/master custodial agreement are asset custody, income collection, accounting and trade desk.
Global custody, performance measurement and securities lending are available for additional fees.
Record-keeping services offered include participant record keeping and unitized trust accounting.
Fees are based on market value and number of transactions and investment managers.
The client contact is James F. Winters III.
