POWERED BY MOMENTUM MEDIA
J.P. Morgan wins Club Plus mandate
J.P. Morgan has picked up a key custody mandate — that of Club Plus Super.
The company announced today that Club Plus Super had J.P.Morgan as its provider of custody and fund services, following a competitive tender process.
As its securities services provider, J.P. Morgan will deliver custody, fund accounting, unit pricing, performance and compliance reporting services to the 90,000 member strong fund, which has more than $2.2 billion in assets under management.
Confirming the mandate, Club Plus chief executive, Paul Cahill said J.P. Morgan's extensive market knowledge and demonstrated awareness of the wide ranging dynamics impacting Club Plus Super, as well as the firm's dedicated transitions and implementation team, set J.P. Morgan apart.
Club Plus Super will transition its business to J.P. Morgan later this year.
Recommended for you
Super funds had a “tremendous month” in November, according to new data.
Australia faces a decade of deficits, with the sum of deficits over the next four years expected to overshoot forecasts by $21.8 billion.
APRA has raised an alarm about gaps in how superannuation trustees are managing the risks associated with unlisted assets, after releasing the findings of its latest review.
Compared to how funds were allocated to March this year, industry super funds have slightly decreased their allocation to infrastructure in the six months to September – dropping from 11 per cent to 10.6 per cent, according to the latest APRA data.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
Spire Oaktree Opportunities XI Second Close
61.07 3 y p.a(%)
2
Spire Oaktree Opportunities XI First Close USD
59.21 3 y p.a(%)
3
DomaCom Lot 21 Chellaston Road Munno Para West SA 5115 Australia
31.73 3 y p.a(%)
4
Fidante Credit Suisse Global Private Equity
30.15 3 y p.a(%)
5
DomaCom 4/27 Crombie Avenue Bundall QLD 4217 Australia
26.71 3 y p.a(%)
