TelstraSuper, a profit-to-member super fund managing over $21 billion in funds under management for members, has reappointed J.P. Morgan as its full service custodian for another five years.
The extension of this mandate follows an evaluation of the market and an assessment of which custodian was best placed to meet the $21 billion fund’s increasing strategic needs.
According to Paul Curtin, chief financial officer of TelstraSuper, J.P. Morgan has been a trusted partner during their five year relationship, supporting strategic growth agenda and investment priorities.
Curtin explained: “J.P. Morgan will continue to be a significant strategic partner as TelstraSuper focuses on delivering strong performance outcomes for our members.”
Meanwhile, TelstraSuper head of investment operations, Miles Mallick, said: “J.P. Morgan’s emphasis on delivering a consistent data model and focus on service delivery were driving factors in their reappointment.”
Nadia Schiavon, head of securities services, Australia and New Zealand, J.P. Morgan, commented: “We are delighted that TelstraSuper has reappointed J.P. Morgan as its custodian. We have a long and successful partnership, and look forward to further developing this relationship over the next five years.”
Curtin concluded: “Helping our members achieve a financially secure future is our priority and we are confident that J.P. Morgan is well positioned to support us in achieving this.”
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