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| State Street Continues to Benefit from Industry Consolidation and Long-Standing Customer Relationships |
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| Ongoing Expense Controls Drive Positive Operating Leverage Progress Made on TCE Improvement Plan |
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| Teacher Retirement System of Texas Leverages New Capabilities for Comprehensive Investment Analysis |
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Nearly Half Plan to Increase Hedge Fund Allocations in 2009
Increased Focus on Accurate Valuations and Transparency Remains Paramount |
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| State Street Announces Enhancements to its Investor Confidence Index |
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