Perpetual sticks with RBC in Australia
RBC Investor & Treasury Services has extended its custody and administration mandate with Australian investment manager Perpetual.
The pair, which have worked together since 2001, renewed an agreement this week which will see RBC continuing to provide custody and administration services, as well as unit pricing, fund accounting, tax and FX services to the firm.
Perpetual manages money across a range of asset classes, including Australian and global equities, multi-asset strategies as well as credit and fixed income.
RBC describes the ASX-listed firm - which has close to $32bn in funds under management - as a foundation client in Australia.
Paul Statham, general manager for operations and business at Perpetual, said RBC has the "operational capability and client focus" to support the company's growth.
He added that RBC comes with the backing of one of the largest banks in the world with a solid credit rating.
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