Australian dollars

BNP Paribas renews Australian superannuation custody mandate

BNP Paribas Securities Services has been reappointed by the Australian Catholic Superannuation and Retirement Fund (ACSRF) to provide full master custody and fund administration services to the fund’s AUD4.5bn investment portfolio.

Following a competitive tender and robust due diligence process, the trustee board of ACSRF chose BNP Paribas based on its technology offering and capabilities in performance measurement and reporting, mandate compliance, unit pricing and fund accounting.
 
Greg Cantor, chief executive officer of the ACSRF, says: “After evaluating several competitive bids, BNP Paribas stood out as the best fit for our requirements.  We first appointed them in 1995, and at each review since, they have continued to demonstrate an ability to meet our needs, innovation, and ongoing investment in technology. The trustee board is excited about BNP Paribas’ pipeline of further innovations.”
 
BNP Paribas has significantly invested in extending the global solutions that it already provides in Europe and Asia, out to Australian superannuation clients. It is placing a strong focus on support for enhanced risk analytics, alternative investments and mobile technology. These solutions are supported by BNP Paribas’ extensive proprietary custody network, which helps superannuation clients better manage investment and counterparty risks.
 
Pierre Jond, managing director of BNP Paribas Securities Services Australia & New Zealand, says: “We are delighted to continue this successful long-term partnership.  The superannuation sector is of key strategic importance to the business on both a global and local basis and success stories such as this highlight our ability to service this sector.”
 

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