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State Street, NAB Vie For Sunsuper Mandate
With superannuation fund Sunsuper entering the final stages of a long tender, it will be picking State Street Corp. or National Australia Bank as its custodian.
With superannuation fundSunsuperentering the final stages of a long tender, it will be pickingState Street Corp.orNational Australia Bank(NAB) as its custodian,I&T Newsreports. The decision depends upon the front- and back-office capabilities of each custodian. NAB which has offered custodial services to Sunsuper for 13 years,
The Sydney-based investment team of the fund is satisfied with the market analytics provided by State Street, whereas its investment operations team in Brisbane is impressed by NAB’s services. Sunsuper hiredMercer Sentinelin March to assess offerings from selected custodians. The search was conducted byLounarda David, Asia-Pacific director at the investment operations consultant, andJamil Barmania, senior associate.
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