National Australia Bank’s (NAB’s) custody arm, NAB Asset Servicing has this week confirmed its retention of a key long-term mandate.
The company announced that it had retained the mandate for industry fund, Statewide Super after the fund undertook an extensive market review process.
Confirming the mandate retention, NAB Asset Servicing managing director, John Comito said his firm was excited that Statewide Super had chosen to continue what represented a long-term relationship.
“They are a reputable fund with a dynamic offering so we are proud to continue providing valuable services to their team,” he said. “South Australia is an extremely important market, not just for asset servicing but the broader NAB enterprise.”
Statewide Super chief executive, Richard Nunn said after undertaking a service provider review the fund had found the NAB offering was still best to fit Statewide’s needs.
“NAB’s in-region support and face-to-face service model is extremely important for our business,” he said. “Their digital performance platform StatPro, which provides detailed attribution and risk scenario analysis, will be an important tool for our Investment team.”
While institutional investors, including super funds, unanimously acknowledge the energy transition as a significant challenge, their perspectives on the extent of their involvement in addressing the substantial capital requirements vary widely.
Despite a period of increased volatility, several considerations suggest that the bull market will remain intact and the trend in shares will remain up, an economist has suggested.
HESTA has slammed Woodside’s climate transition action plan, pointing to “significant” gaps.
All merger proposals will have to be approved by the consumer watchdog under the sweeping merger reforms announced by the government on Wednesday.
Add new comment