Australian Unity Investments has appointed BNP Paribas Securities Services as its custodian and administrator.
The funds management arm of Australian Unity, which has over $7.36 billion in funds under management as of 30 June, said it chose BNP Paribas after an extensive market search.
"We determined that BNP Paribas had the strongest full service proposition in core custody together with middle and back office services for our asset management business and joint venture partners," CEO of Australian Unity Investments David Bryant said.
He added the firm was attracted to BNP Paribas' ongoing investments in technology and its support for Australian Unity Investments' expansion plans.
BNP Paribas said it will partner with Australian Unity Investments to boost their operational processes, reduce risk and lift their performance where possible.
The asset manager is bolstering its investments in the global energy transition and climate opportunities.
The ethical investment manager has reported record FUM as its growth trajectory continues apace.
The chief investment officers of UniSuper, HESTA, and TelstraSuper have elaborated on opportunities and risks that are top of mind when it comes to illiquid assets like private credit within their portfolios.
In an address to the National Press Club last week, the incoming chair of Australia’s sovereign wealth fund said institutional investors could play a role in the winding road towards net zero.
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