POWERED BY MOMENTUM MEDIA
LGS to continue partnership with JP Morgan
Local Government Super (LGS) has announced a five-year partnership extension with JP Morgan which will continue to provide the fund its custody services.
The decision followed a formal open-market tender process due to “significant growth and structural change to LGS offerings” which prompted the management to conduct an independent tender process in order to assess the offerings in the market, the firm said.
JP Morgan, which has been providing its custody services for LGS since 2003, would continue to offer services including the physical safekeeping of assets, and account and administration services such as unit pricing, compliance and securities lending.
“LGS and JP Morgan have worked closely together for a number of years to support our strategic objectives across our custody, fund administration and securities lending services,” LGS chief executive officer, Phil Stockwell, said.
“Ongoing access to the expertise and capabilities of J.P. Morgan ensures we continue to provide strong outcomes for our members.
“JP Morgan will provide the services we need to build on our reputation as one of Australia’s most responsible investment managers with a strong focus on performance and value for money.”
Recommended for you
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.
All merger proposals will have to be approved by the consumer watchdog under the sweeping merger reforms announced by the government on Wednesday.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
Spire Oaktree Opportunities XI First Close USD
73.88 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