Northern Trust has picked up a key custody mandate, being selected by New Zealand’s Debt Management Office (NZDMO) to provide core custody and related services for the organisation’s book of fixed income assets valued at around NZ$4 billion.
Commenting on the mandate, Northern Trust’s head of business development in Australasia, Jeremy Hester said the appointment had followed a comprehensive tender exercise by the New Zealand body completed in July, last year.
The New Zealand Debt Management Office is responsible for disbursing cash to Government departments, advancing funds to Government entities and providing capital markets services and derivative transactions for departments of the Crown.
The NZDMO manages around NZ$20.5 billion of assets.
The property group, owned by industry super fund Aware Super, has announced two new projects with a total construction value of $320 million that will add more than 700 homes to Melbourne’s rental market.
While institutional investors, including super funds, unanimously acknowledge the energy transition as a significant challenge, their perspectives on the extent of their involvement in addressing the substantial capital requirements vary widely.
Despite a period of increased volatility, several considerations suggest that the bull market will remain intact and the trend in shares will remain up, an economist has suggested.
HESTA has slammed Woodside’s climate transition action plan, pointing to “significant” gaps.
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