Arizona State Retirement System (ASRS) has selected BNY Mellon Asset Servicing to provide services for its ASRS trust fund.
As part of the mandate, BNY Mellon Asset Servicing will provide the trust fund with oversight on core custody services, alternative assets, overnight investment vehicles, securities lending services, performance analytics and investment compliance monitoring.
The fund serves employees of the state, counties, municipalities, universities, community colleges, school districts, and other political entities.
Created in 1953, with more than 620,000 members and 664 employer participants, ASRS is the primary Arizona state agency providing retirement benefits, long-term disability benefits, and other benefits to employees of the state’s qualified entities.
Commenting on the mandate, Rohan Singh, global head of asset owners, at BNY Mellon Asset Servicing, says: “This announcement is another critical milestone for the growth of our asset servicing business and a testament to the high level of service BNY Mellon looks to provide its clients.
In a statement, the ASRS said: “BNY Mellon has a long-standing reputation as a trusted service provider, and we look forward to a strong and beneficial relationship with them.”
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