Professional Associations Super has reappointed J.P. Morgan as its master custodian for a further three years.
J.P. Morgan was originally appointed to the role in June 2008 to handle accounting, custody and performance reporting. The appointment is to be reviewed every three years.
Professional Associations Super chief investment officer Paul Kessell said reappointing J.P. Morgan “was an easy decision”, due to the firm’s products, services and scalability.
As part of a regular review of its services providers, Professional Associations Super also recently reappointed Towers Watson as the fund’s investment consultant.
Investors have slashed their US equity allocations to the lowest level on record, according to new data from Bank of America.
The message from experts in international trade and economists is that the Australian government should refrain from retaliating with reciprocal tariffs.
The market correction forecast by AMP’s chief economist is in full swing, with three weeks of turbulence culminating in significant losses on Tuesday.
Following a strong risk appetite in January, institutional investors have pulled back in February, with risk-seeking activity dropping to zero amid a decline in equity allocations.