Q2 Earnings Highs And Lows: BNY (NYSE:BNY) Vs The Rest Of The Custody Bank Stocks

HSBC has secured a £21bn mandate from State Street for custody, depositary, and fund administration services for two Ireland-based funds. This expands a long-standing relationship with the asset management arm of the mutual, dating back 20 years.

Stablecoins, with a total supply of $303B, rely increasingly on traditional banks for growth. Regulation in the U.S., Europe, and Britain accelerates this trend, requiring stablecoin issuers to integrate with regulated banking systems. Major banks are forming consortia to issue stablecoins, while Circle's stock dropped 6% on this news. Projections suggest stablecoin market could reach $1.9T-$4T by 2030, but risks like liquidity strains remain.

UK companies have spent over £1.3 billion in 2026 buying their own offices, driven by falling prices and rising rents. Barclays' £750 million deal for its HQ was the largest. High fit-out costs and supply shortages also motivate purchases. Other buyers include State Street, State Bank of India, Bank of New York Mellon, and Lloyds Banking Group.

Hamilton Lane (HLNE) reported Q1 revenue of $275.3M (+56% YoY), fee-related earnings of $124.5M (+49% YoY), and AUM exceeding $1.1T. Growth was driven by specialized funds and Evergreen platform inflows. However, non-US multi-strategy equity fund saw outflows, and expenses rose 50% YoY. HLNE trades at a forward P/E of 14.45.

State Street Investment Management launched the SPDR UC Investments 90/10 Endowment Strategy Index ETF (UCBG) with a $2.5 billion anchor investment from UC Investments. The ETF tracks an index combining 90% S&P 500 and 10% short-duration investment-grade corporate bonds. UC's $236 billion portfolio inspired the strategy, aiming for long-term, low-cost, diversified public market exposure.

Federated Hermes (FHI) partnered with Conduit Digital Holdings to launch a tokenized money market fund in Asia-Pacific, with its U.S. Prime Fund as the anchor product. The fund will offer tokenized exposure to short-term U.S. debt. Federated Hermes manages $676.9B in money market assets. The alliance follows recent digital-asset initiatives by Federated Hermes and aligns with growing institutional demand for tokenized funds.