POWERED BY MOMENTUM MEDIA
Telstra Super signs on to NAB/BNY Mellon alliance
NAB Asset Servicing and BNY Mellon have put their recently announced alliance into action following BNY Mellon's appointment to administer the private equity holdings of Telstra Super — a NAB client.
BNY Mellon will also provide exposure and risk reporting on the portfolio of securities.
NAB and BNY Mellon joined forces earlier in the year to enable clients access to a broader suite of services and products. It formalised a custody arrangement which had lasted two decades.
Christine Bartlett, executive general manager of NAB's Asset Servicing business, said the partnership was built on the basis of giving its Australian and New Zealand clients the opportunity to achieve growth ambitions.
"Telstra Super, a valued client of ours, is now benefiting from the expertise and experience that BNY Mellon has in handling private equity positions — and this is a great outcome," she said.
Michael Chan, Asia-Pacific head of BNY Mellon's Asset Servicing business, said the firm's private equity administration services was an effective differentiator for it globally and now amongst institutions in Australia.
"Superannuation funds continue to be challenged by growing regulatory demands and are turning to their custodian to service the array of complex new funds, structures and strategies being introduced," he said.
BNY Mellon manages private equity within a portfolio of $600 billion in alternative assets under administration or custody.
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
Governor Bullock took a more hawkish stance on Tuesday, raising concerns over Trump’s escalating tariffs, which sent economists in different directions with their predictions.
Equity Trustees has announced the appointment of Jocelyn Furlan to the Superannuation Limited (ETSL) and HTFS Nominees Pty Ltd (HTFS) boards, which have oversight of one of the companies’ fastest growing trustee services.
Following growing criticism of the superannuation industry’s influence on capital markets and its increasing exposure to private assets, as well as regulators’ concerns about potential risks to financial stability, ASFA has released new research pushing back on these narratives.
A US-based infrastructure specialist has welcomed the $93 billion fund as a cornerstone investor.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
Global X GlobalX FANG+ ETF
33.51 3 y p.a(%)
2
Spire Oaktree Opportunities XI Second Close
32.68 3 y p.a(%)
3
DomaCom Lot 21 Chellaston Road Munno Para West SA 5115 Australia
31.62 3 y p.a(%)
4
Spire Oaktree Opportunities XI First Close USD
31.36 3 y p.a(%)
5
Fidante Credit Suisse Global Private Equity
29.60 3 y p.a(%)
