NAB Asset Servicing has formed a strategic alliance with GBST Holdings (GBST) to strengthen its tax and accounting offer to custody clients.
NAB will be able to offer clients GBST's pre-trade tax analyser tool to assist clients in managing the after-tax outcomes of their Australian equity investments on a pre-trade basis.
NAB Asset Servicing will also offer customised after-tax services through GBST's Quant division.
Managing director of product and strategic alliances at NAB, Peter Hele said super funds expect custodians to provide solutions to better manage, monitor and measure the tax implications of investment decisions.
GBST Quant's tax analyser allows investment managers to consider the after-tax impact of the investment process.
Hele said coupled with NAB's existing after-tax performance measurement offer, NAB can now provide clients with superior tax awareness capabilities.
Head of GBST Quant division, Kathy Taylor-Hofmann said "Our alliance with NAB means we can put in place processes to facilitate the secure transmission of client data to GBST in order for Tax Analyser to operate in a seamless, as close as possible to real-time manner, for the benefit of our clients and their investment managers."
She said super funds can save a lot of money just by looking at franking credits without considering future capital gains tax returns.
"This solution means a paradigm shift in thinking around the way we do investing," she said.