Neuberger Berman has selected J.P. Morgan to provide custodial and fund administration services to Australian unlisted unit trust assets.
This new mandate comes after J.P. Morgan helped to launch the NB Global Corporate Income Trust (NBI) in 2018.
J.P. Morgan is the largest overall provider of custodial services in the Australian custody market, providing a range of broader capabilities, including asset management, fixed income, equities, investment banking and treasury services.
Bryan Gray, head of sales and relationship management, securities services of Australia and New Zealand at J.P. Morgan, said: “J.P. Morgan is uniquely positioned to support global asset managers in the Australian market and we are delighted to expand our partnership with Neuberger Berman.”
He added: “The depth of J.P. Morgan’s servicing capabilities ensure we are well-equipped to support Neuberger Berman’s business in Australia and partner in their growth plans and future product launches following the success of NBI.”
Matt Thompson, head of intermediary distribution at Neuberger Berman, commented: “Our recent announcement to offer new units in the NBI, along with our plans to launch several managed funds, demonstrates our commitment to the Australian marketplace.”
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