Equity Trustees appoints State Street for custody contract
State Street has announced Equity Trustees has appointed State Street for custodial and investment administration services of Equity Trustees Wealth Services Limited funds.
The new agreement would have State Street Provide Equity Trustees with back office services including custody, fund accounting, regulatory reporting, compliance and tax services.
Daniel Cheever, head of State Street Global Services for Australia, said the mandate reflected the strong working relationship between the two companies.
“We are delighted to expand our relationship to provide this service to two parts of the EQT Group of companies and look forward to supporting their growth,” Cheever said.
Mick O’Brien, Equity Trustees’ managing director, said they were entrusted with supporting their clients and their beneficiaries, which included managing their money.
“We are confident that State Street has the right expertise and resourcing to support our back office as we continue to focus on our core business of acting as a professional trustee,” O’Brien said.
Recommended for you
Ethical super fund Australian Ethical has announced the appointment of Anthony Lane as chief operating officer.
The structural shift towards active ETFs will reshape the asset management industry, according to McKinsey, and financial advisers will be a key group for managers to focus their distribution.
ASIC has warned that practices across the $200 billion private credit market are inconsistent and, in some cases, require serious improvement.
A surge in electricity prices has driven the monthly Consumer Price Index to its highest level in a year, exceeding forecasts.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
225.31 3 y p.a(%)
2
Loftus Peak Global Disruption Fund Hedged
120.73 3 y p.a(%)
3
Global X 21Shares Bitcoin ETF
72.47 3 y p.a(%)
4
Paradice Australian Mid Cap A
69.09 3 y p.a(%)
5
Global X Ultra Long Nasdaq 100 Complex ETF
61.94 3 y p.a(%)
