Professional Associations Super has reappointed J.P. Morgan as its master custodian for a further three years.
J.P. Morgan was originally appointed to the role in June 2008 to handle accounting, custody and performance reporting. The appointment is to be reviewed every three years.
Professional Associations Super chief investment officer Paul Kessell said reappointing J.P. Morgan “was an easy decision”, due to the firm’s products, services and scalability.
As part of a regular review of its services providers, Professional Associations Super also recently reappointed Towers Watson as the fund’s investment consultant.
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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