STATE Street, the Boston-based investment manager and custodian with more than US$185 billion under management and $2 trillion under custody, will launch a service to evaluate the performance of pension schemes. The firm plans to add to its Hong Kong fund accounting, administration and comprehensive analytical services for public and private pension funds. Senior vice-president Laurette Bryan said its analytical strength was based on the comprehensive data flowing into the firm from its custodial service. 'We can provide an objective, quantifiable analysis of the performance of individual portfolios or the total investment fund,' she said. She said the advantage to the fund trustee would be through assisting management understanding risk which would help to avoid 'surprises' and enable achievable performance targets. The proposed Mandatory Provident Fund and the Occupational Retirement Schemes Ordinance have increased public and corporate awareness of the importance of pension fund management. State Street said it would be able to offer a more comprehensive package than those offered to Hong Kong trustees, providing scheme trustees with on-line analyses that could be updated each month. Ms Bryan said the firm, which was set to begin the analysis service in January, would be able to improve on services that offered scheme measurement, comparison and analysis. 'A master custodian is able to utilise its information processing techniques to enable prompt and accurate performance measurement and analysis reports to be provided,' she said.