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AMIST stick with NAB Asset Servicing
AMIST Super will continue to look to NAB Asset Servicing for custodial services after the provider was reappointed following an independent review.
NAB has provided custodial services to the $1 billion industry super fund since 2003, and will begin a new three-year contract on 1 June 2012.
Michael Block conducted an independent review of AMIST's custodial arrangements to determine the reappointment of NAB after a thorough review of their current partnership and alternative options.
"NAB's understanding of our industry, the strength of NAB's balance sheet and the consistent service levels they have provided over a period were key aspects of our decision," AMIST Super chief executive, James Thomas said.
GM Sales, Client Relationships and FMS at NAB, Brian Keogh said, "Our strong relationship, highlighted by our understanding of the Fund's requirements were deemed important ingredients."
Keogh said they provided AMIST with a "one-stop-shop", citing unit pricing services and a competitive fee offering as factors in the reappointment.
The reappointment follows a stack of new clients for Asset Servicing who totalled nine new clients in nine months.
They were also successfully reappointed to provide custodial services to MTAA Super fund in February, although they lost the QSuper mandate in March 2012.
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