AvSuper chooses BNP Paribas as new custodian
Aviation industry fund AvSuper has appointed BNP Paribas Securities Services as its master custodian, replacing NAB Asset Servicing.
AvSuper chief executive Michelle Griffiths said BNP Paribas stood out in the tender process, having a "clear understanding of our business and our needs" as a boutique fund.
"It wasn't necessarily a function of what we weren't getting from NAB - it was more about enhancing an existing range of services," said Griffiths.
"We were looking for a custodian with the global technology capabilities to be able to comfortably manage our unique requirements while providing a high level of personal support and service to a small in-house investment team," she added.
BNP Paribas Securities Services managing director Pierre Jond said superannuation funds were facing changing market conditions and were demanding "increased operational effieciency".
"We feel given our ongoing investment in technology, that we are ideally positioned to partner with and support AvSuper and meet their sophisticated requirements," Jond said.
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
Australia’s largest super funds have deepened private markets exposure, scaled internal investment capability, and balanced liquidity as competition and consolidation intensify.
The ATO has revealed nearly $19 billion in lost and unclaimed super, urging over 7 million Australians to reclaim their savings.
The industry super fund has launched a new digital experience designed to make retirement preparation simpler and more personalised for its members.
A hold in the cash rate during the upcoming November monetary policy meeting appears to now be a certainty off the back of skyrocketing inflation during the September quarter.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
225.31 3 y p.a(%)
2
Loftus Peak Global Disruption Fund Hedged
120.73 3 y p.a(%)
3
Global X 21Shares Bitcoin ETF
72.47 3 y p.a(%)
4
Paradice Australian Mid Cap A
69.09 3 y p.a(%)
5
Global X Ultra Long Nasdaq 100 Complex ETF
61.94 3 y p.a(%)
