POWERED BY MOMENTUM MEDIA
Two super funds renew custody contract with State Street
NGS Super and Christian Super have renewed their custody contracts with State Street to provide a range of custody and asset servicing solutions.
NGS has re-signed with State Street for another three years where State Street will provide NGS with custody, unit pricing, fund accounting, tax and regulatory services, performance and investment analytics, and mandate compliance.
State Street will provide Christian Super with custody services, fund accounting, unit pricing, taxation services, investment mandate monitoring, and investment analytics for another six years.
State Street Global Services and global markets for Australia head, Chris Taylor, said: “Super funds generally are facing challenges on a number of fronts, including greater pressure from regulators. These are creating demands for more frequent reporting and significantly more detail in the data funds need to provide about their investment portfolios”.
NGS chief executive, Anthony Rodwell-Ball, said NGS was the first institutional fund to appoint State Street as custodian 10 years ago.
“The decision has been vindicated by the very pleasing growth in State Street’s Australian custody business, which has enabled it to invest progressively to significantly improve its capabilities, particularly in the digital and data analytics space,” he said.
Also commenting, Christian Super chief investment officer, Tim Macready said State Street had evolved their services delivery capabilities to meet additional regulatory requirements and the fund’s increasing need for portfolio data.
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(%)
