REST renews custody contract with State Street

REST Industry Super has renewed its contract with State Street for custodial and investment administration services for a further three years.

REST first awarded State Street a contract in January 2011 and this is the second time the contract has been renewed.

State Street head of global services and global markets for Australia, Chris Taylor, said: “Many of the significant challenges facing asset owners involve data management. We continue to invest heavily in this area to ensure we have the right technology and management team to help our clients overcome these challenges”.

Also commenting, REST chief executive, Damian Hill said the fund’s focus was to work with providers who could give the most efficient, stable, and resilient capabilities.

State Street provides REST’s $45 billion in funds under management with solutions including custody, fund accounting, performance and analytics, compliance, and complex tax services across a variety of asset classes.