J.P. Morgan nabs Australian custody mandate from NAB
Club Plus Super, the Australian superannuation fund for employees of licensed clubs and hospitality firms, has appointed J.P. Morgan as its provider of custody and fund services.
The investment bank will deliver custody, fund accounting, unit pricing, performance and compliance reporting services to the 90,000 member strong fund, which has more than A$2bn in assets under management.
NAB Asset Servicing had been providing the services but J.P. Morgan is expected to take over later this year.
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.
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