J.P. Morgan has been selected to provide custody and fund services for Australian superannuation fund Club Plus Super.
According to J.P. Morgan, the mandate was based on its expertise and investment in technology and its ability to meet the fund’s current and evolving needs and its understanding of the fund’s member and investment priorities.
J.P. Morgan will provide custody, fund accounting, unit pricing, performance and compliance reporting services to Club Plus Super, which has 90,000 members and more than $2.2 billion in assets under management.
Paul Cahill, CEO of Club Plus Super, said: “Consistency in delivery of both services and information is important to our business, as is the need to drive efficiencies and streamline processes.”
Bryan Gray, head of sales and client relationships, custody and fund services for J.P. Morgan in Australia and New Zealand, said: “We are pleased Club Plus Super, a superannuation fund recognised industry-wide for its member-centric approach, has selected J.P. Morgan.”
He added: “When considering providers, the super fund looked closely at how a new custodial partner will support their efforts to provide better services and returns for members, and we know J.P. Morgan can add significant value to this outcome.”
The transition is expected to be completed later this year.
