CareSuper has appointed J.P. Morgan to provide custody and fund administration services including investment reporting, replacing NAB Asset Servicing after 20 years.
CareSuper chief executive, Julie Lander, said the $16 billion fund wanted a custodian that could demonstrate how it could align both culturally and with the strategic growth initiatives of the fund.
“We have enjoyed a close partnership with NAB Asset Servicing to date and thank the team for their dedication to our fund over the past 20 years,” Lander said.
J.P. Morgan head of securities services, Australia and New Zealand, J.P. Morgan, Nadia Schiavon, said the firm was thrilled with the appointment and looked forward to commencing as custodian of the fund.
“We are excited to start a new partnership with CareSuper and utilise our vast experience within the superannuation industry, combined with our technology solutions, to help support the fund’s strategic goals,” Schiavon said.