State Street has announced it is appointed by Sunsuper as custodian to provide administration services including unit pricing, compliance monitoring, performance and alternative asset reporting, among other services.
The appointment follows the superannuation fund's comprehensive review of custodial service providers with the support of Mercer Sentinel.
"The demands on superannuation funds like Sunsuper are changing in response to regulatory pressures and the shifting demographic of the member base. Investment strategies are becoming more complex while, simultaneously, there is demand for greater transparency," said Ian Martin, senior vice president and head of State Street's Global Markets and Global Services businesses for Australia and New Zealand.
"State Street is in a unique position to assist super funds with these requirements and we have focused on developing proprietary technology and services that enable clients to view their data in the most effective way," he added.
