Statewide Super renews custody deal

Following an extensive market review Statewide Super retained its custodian.

The $7 billion industry superannuation fund has renewed its long-running partnership with NAB Asset Servicing (NAS), which provides custody, master custody, investment administration, and middle office services.

Statewide Super chief executive Richard Nunn said: "After undertaking a service provider review we found their [NAS'] offering was still the best fit for our needs."

"NAB's in-region support and face-to-face service model is extremely important for our business. Their digital performance platform StatPro, which provides detailed attribution and risk scenario analysis, will be an important tool for our Investment team," Nunn said.

He added the partnership is "critical as we develop and grow our business for the benefit of our members."

NAB Asset Servicing executive general manager John Comito said he is excited to continue the long-term relationship.

"South Australia is an extremely important market, not just for Asset Servicing but the broader NAB enterprise. We believe it is our flexible and service-oriented approach that put us in the best position to be selected by the Statewide Super team," Comito said.

Statewide Super is a AAA-rated fund as assessed by SelectingSuper. Its default MySuper option was ranked number one for performance in the three years to 30 June, 2016

Read more: Statewide SuperInvestmentNAB Asset ServicingNASJohn ComitoMySuperRichard NunnSelectingSuperSouth AustraliaStatPro
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