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Rapport de stage "State Street Bank”

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documents in English
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6 pages
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  1. Luxembourg.
    1. Population.
    2. Languages.
    3. Business.
  2. State street bank.
    1. What is State Street Bank.
    2. Why State Street Bank is a leader.
    3. Their core business.
  3. DB Trustee.
    1. Role of the service.
    2. My tasks.
    3. Special work.
  4. Conclusion.
    1. Personal enrichment.
    2. Professional enrichment.
    3. Management.
    4. Futures wishes.

The Grand Duchy of Luxembourg is a sovereign state of 2 500 square kilometers bordered by Belgium, France and Germany. It has a population of over 455 000 of which 38.6 % are foreigners. The city of Luxembourg has a population of 77 300. Each working day, over 117 000 cross-border workers travel to the Grand Duchy from neighboring Belgium, France and Germany, making up almost 40 % of the workforce. But, as far as I'm concerned, I was accommodated in Luxembourg City. The official languages of Luxembourg are French, German and Luxenbourgish. However, because of the success of Luxembourg in attracting foreign business and personnel, and the languages skills of the local population, English is now widely used in the financial service sector. Few of my colleagues spoke French and it enables me to use my English.

[...] Management I would like to tell a few words about management in State Street Bank Luxembourg. I saw a important turn over. People spend few years in fund administration and leave the bank. According to me, the job is too much fragmented and employees lose the aspect of fund management. Tasks look very administrative. Futures wishes After those three months, I have a brief vision of the fund management. I discovered the Trustee service and it's function. The fund administration is a great job to start in professional life but I don't think it's a job I would keep [...]


[...] Every year, the mutual fund company has to give the NAV (Net Asset Value) of each fund to Luxembourg's administration. Then, the mutual fund company has to calculate the amount of the due tax. The calculation is very simple. The annual rate is of NAV. Some funds are taxed to a rate of if the policy of the fund is to invest in money market instruments or deposits with credit institutions. The tax is paid quarterly to the Administration de l'Enregistrement et des Domaines Succession et Taxes d'abonnement. [...]

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