State Street Corp., the world’s largest asset manager for institutions, may be sued by federal regulators over bond funds that investors said lost money because of bets on risky mortgage-backed securities.

The company, based in Boston, said in a regulatory filing that it received a Wells notice stemming from a US Securities and Exchange Commission investigation into disclosures and management of fixed-income investments through 2007.

The notification typically lets recipients respond to investigators’ claims before the agency’s five-member commission approves legal action. The SEC may decide not to pursue a case.

State Street, the manager of $1.4 trillion as of March 31, has been sued by investors claiming its funds took too much risk by investing in securities tied to home mortgages.