J.P. Morgan has picked up a key custody mandate — that of Club Plus Super.
The company announced today that Club Plus Super had J.P.Morgan as its provider of custody and fund services, following a competitive tender process.
As its securities services provider, J.P. Morgan will deliver custody, fund accounting, unit pricing, performance and compliance reporting services to the 90,000 member strong fund, which has more than $2.2 billion in assets under management.
Confirming the mandate, Club Plus chief executive, Paul Cahill said J.P. Morgan's extensive market knowledge and demonstrated awareness of the wide ranging dynamics impacting Club Plus Super, as well as the firm's dedicated transitions and implementation team, set J.P. Morgan apart.
Club Plus Super will transition its business to J.P. Morgan later this year.