Pendal Group has entered into a five plus five-year agreement with Mainstream Group’s Australian business to provide outsourced registry services for Pendal’s $19 billion assets under management.
An announcement to the Australian Securities Exchange (ASX) said the arrangement would provide Pendal with Mainstream’s deployment of automated workflow for email and paper transactions, online transacting, XPLAN reporting, banking automation, and a newly-created quoted funds functionality.
Pendal Australia’s chief operating officer, Justin Howell, said: “We are focused on minimising risk while improving out operational efficiency and enhancing out investor’s experience. We look forward to working with Mainstream to achieve this”.
The transition project commenced this month and the transition of Pendal’s register of unitholders from its existing services providers was expected to be completed by March, 2021.
The Albanese government has appointed Jim Craig as a member of the Future Fund Board of Guardians for a five‑year term.
The $100 billion fund has appointed a new deputy CIO from within.
The $149 billion fund has named new directors following the departure of three outgoing board members.
The Association of Superannuation Funds of Australia (ASFA) has announced changes to its structure, marking an “exciting phase of growth” for the organisation.