Assets under custody for Australian investors sees significant jump
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Assets under custody for Australian investors sees significant jump 17 October 2019Sydney Reporter: Jenna Lomax
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Total assets under custody for Australian investors jumped by 4.2 percent for the first six months of 2019 to AUD $3.7 trillion, according to the Australian Custodial Services Association (ACSA).
The results were included in the ACSA’s new asset servicing industry statistics for the six months ending 30 June 2019.
Robert Brown, ACSA chief executive, said: “Assets held in Australia for foreign investors (sub-custody) increased by 10.6 percent to AUD $1.6 trillion at the end of June 2019 also reversing the decline in value evidenced in the prior period.”
He added: “Looking forward to ACSA, the finalisation of our managed funds improvement programme, continued advocacy for efficient implementation of regulatory change and engagement on ASX Clearing House Electronic Subregister System replacement project remain key priorities for the sector.”
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