POWERED BY MOMENTUM MEDIA
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.
AUTHOR
Staff Writer
Money Management staff writers are writers who contribute to the website from time to time. If you would like to discuss the content contained within this article please contact us.
Recommended for you
Superannuation funds have posted another year of strong returns, but this time, the gains weren’t powered solely by Silicon Valley.
Australia’s $4.1 trillion superannuation system is doing more than funding retirements – it’s quietly fuelling the nation’s productivity, lifting GDP, and adding thousands to workers’ pay packets, according to new analysis from the Association of Superannuation Funds of Australia (ASFA).
Large superannuation accounts may need to find funds outside their accounts or take the extreme step of selling non-liquid assets under the proposed $3 million super tax legislation, according to new analysis from ANU.
Economists have been left scrambling to recalibrate after the Reserve Bank wrong-footed markets on Tuesday, holding the cash rate steady despite widespread expectations of a cut.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom 465 Calder Road Calder
99.46 3 y p.a(%)
2
DomaCom DFS Mortgage
95.46 3 y p.a(%)
3
Global X 21Shares Bitcoin ETF
78.55 3 y p.a(%)
4
BetaShares Crypto Innovators ETF
50.39 3 y p.a(%)
5
Global X GlobalX FANG+ ETF
47.50 3 y p.a(%)
