NAB on custody high 31 May 2012Australia Reporter: Georgina Lavers
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Fiducian Portfolio Services has mandated NAB’s asset servicing business as its new custodian, and AMNIST Super has renewed its contract with the Australian bank.
Fiducian currently manages approximately AU$2.1 billion across a retail platform and wholesale funds and provides financial services in five areas – funds management, advice services, portfolio administration, information technology and business services.??
The new custody mandate is effective as of the middle of May.??
“NAB’s key differentiators from other market participants included the advantage of a solid local Australian company, a desire to enter into a long-term partnership, in-depth knowledge of our type of business and a focus and commitment to the Australian market,” said Indy Singh, managing director at Fiducian.??
NAB also was reappointed as custodian to the AU$1 billion AMIST Super for a further three-year contract after an independent review performed by Michael Block.??
"NAB’s understanding of our industry, the strength of NAB’s balance sheet and the consistent service levels they have provided over a period were key aspects of our decision,”? said James Thomas, CEO of AMIST Super.
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