POWERED BY MOMENTUM MEDIA
Mosaic awards custody to J.P. Morgan
J.P. Morgan Worldwide Security Services (WSS) will provide custodial and fund administration services to 10 funds for Mosaic Portfolio Advisers (MPA) Limited after winning the tender process.
WSS will also provide performance reporting and mandate compliance for the 10 funds it won and the four funds it already manages for MPA, a subsidiary of SFG Australia.
The tender process was part of finalising the merger between Shadforth Financial Group and Snowball Group, now married under the SFG brand.
WWS head of relationship management, investment managers, David Brown said MPA was looking for a provider that could consolidate services and take on additional funds quickly.
J.P. Morgan launched its Online Portfolio Analytics Lab (OPAL) in Australia at the end of last month, which Brown said played a pivotal role in winning the mandate - as well as the breadth of its offering.
"Our end-to-end investment administration solution demonstrates our strong presence and core competencies, and continues to build on our growing investment management segment," he said.
J.P. Morgan announced a $30 million technology investment program aimed at improving product capabilities and recognising the changing dynamics of the industry, including regulatory change and consolidation.
"SFG was seeking a partner who could service our ongoing growth, rapid changes in the industry and regulatory environment, and also help us to continually improve our services to our clients," SFG chief financial officer and company secretary, Linda Fox said.
AUTHOR
Staff Writer
Money Management staff writers are writers who contribute to the website from time to time. If you would like to discuss the content contained within this article please contact us.
Recommended for you
As market volatility persists, some super funds are pivoting defensively, while others are strategically positioning to capitalise on emerging opportunities.
New data has shown a progressive deterioration in risk appetite among instos even prior to Donald Trump’s latest round of tariffs.
UniSuper has reached “peak investment” in US assets and is now preparing to reassess its exposures amid ongoing sharemarket volatility.
Investors have slashed their US equity allocations to the lowest level on record, according to new data from Bank of America.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
93.34 3 y p.a(%)
2
Global X GlobalX FANG+ ETF
37.15 3 y p.a(%)
3
GAM LSA Private Shares AU I
33.96 3 y p.a(%)
4
Fidante Credit Suisse Global Private Equity
29.68 3 y p.a(%)
5
Plato Global Alpha A
28.73 3 y p.a(%)
