Western Australian public sector fund GESB has appointed Northern Trust to provide a range of services for its $20 billion super and retirement scheme.
Northern Trust will provide global custody, fund accounting, taxation, performance measurement and attribution and other related services.
GESB CEO Howard Rosario said the fund chose Northern Trust for its technology capacity and cultural fit.
The appointment comes after a detailed review by GESB based on WA State procurement policies.
International consulting firm Thomas Murray helped with the review process.
GESB had previously appointed National Australia Bank's National Asset Services to provide it with the investment advisory services.
The central bank has announced its latest rate decision amid stubborn inflation and increasing geopolitical tension.
Aware Super has outlined its systematic approach to corporate engagement as institutional investors increasingly assert their influence on company boards and take on an active stewardship role.
The country’s second-largest super fund has completed its fourth SFT this past financial year and welcomes almost 5,000 new members.
The corporate fund has announced it is seeking a suitable merger partner as the number of corporate super funds in Australia continues to dwindle.
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