Queensland-based superannuation fund, Brighter Super, has chosen State Street as custody and administrator.
State Street aims to provide a range of services to Brighter Super’s portfolios across multiple asset classes, including equities, fixed income, private assets and derivatives.
Under the new mandate, State Street will provide Brighter Super fund accounting and unit pricing, custody, administrative services, alternative investment services, taxation services, financial and regulatory reporting, performance and analytics, investment mandate monitoring and securities lending.
Tim Helyar, country head at State Street, Australia, says: “This significant mandate further demonstrates State Street’s commitments not only to Australia’s superannuation industry but also Queensland as an important on-the-ground location for servicing our clients.”
Garnett Hollier, chief financial officer at Brighter Super, says: “We believe [State Street] have the proven capability in servicing superannuation funds, the global network and scale, as well as local presence in Brisbane and an extensive superannuation client community that will bring enormous benefits to our members.”
