POWERED BY MOMENTUM MEDIA
Mosaic awards custody to J.P. Morgan
J.P. Morgan Worldwide Security Services (WSS) will provide custodial and fund administration services to 10 funds for Mosaic Portfolio Advisers (MPA) Limited after winning the tender process.
WSS will also provide performance reporting and mandate compliance for the 10 funds it won and the four funds it already manages for MPA, a subsidiary of SFG Australia.
The tender process was part of finalising the merger between Shadforth Financial Group and Snowball Group, now married under the SFG brand.
WWS head of relationship management, investment managers, David Brown said MPA was looking for a provider that could consolidate services and take on additional funds quickly.
J.P. Morgan launched its Online Portfolio Analytics Lab (OPAL) in Australia at the end of last month, which Brown said played a pivotal role in winning the mandate - as well as the breadth of its offering.
"Our end-to-end investment administration solution demonstrates our strong presence and core competencies, and continues to build on our growing investment management segment," he said.
J.P. Morgan announced a $30 million technology investment program aimed at improving product capabilities and recognising the changing dynamics of the industry, including regulatory change and consolidation.
"SFG was seeking a partner who could service our ongoing growth, rapid changes in the industry and regulatory environment, and also help us to continually improve our services to our clients," SFG chief financial officer and company secretary, Linda Fox said.
AUTHOR
Staff Writer
Money Management staff writers are writers who contribute to the website from time to time. If you would like to discuss the content contained within this article please contact us.
Recommended for you
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.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
Spire Oaktree Opportunities XI First Close USD
66.99 3 y p.a(%)
2
Hills International
63.66 3 y p.a(%)
3
Acadian Global Equity Long Short Class A
36.33 3 y p.a(%)
4
CFS FC Acadian Global Equity Long Short
35.96 3 y p.a(%)
5
DomaCom 4/27 Crombie Avenue Bundall QLD 4217 Australia
32.23 3 y p.a(%)
Add new comment