Northcape Capital has appointed BNP Paribas Securities Services as its new master custodian and administrator, including middle office services.
Northcape is an independent fund manager that specialises in managing concentrated portfolios of listed equities for institutional clients. It has more than $8 billion in assets under management.
"A primary focus area at Northcape is to consistently align ourselves with client needs and expectations as they become apparent," Northcape operations manager Sean Cunningham said.
"A global partner of the calibre of BNP Paribas Securities Services will ensure the investment administration needs of our expanding business are met."
David Braga, head of BNP Paribas Securities Services Australia and New Zealand, said: "Northcape appreciated the breadth of our custody network, our global follow-the-sun service model and sophisticated data delivery and reporting solutions which support our middle office services.
"We are also pleased to be able to assist Northcape in its growth strategy to become a global manager with a focus on emerging markets. Helping our partners grow is a major part of our focus."
BNP Paribas Securities Services was ranked top custodian for client satisfaction in the Global Custodian Agent Banks in Major Markets Survey, ranking top in all categories of settlement, asset servicing, relationship and client service, technology, ancillary services and value delivered.
Since its formation in 2005, Northcape has expanded its product range to offer Australian Large Cap (Core and Concentrated), Australian Small Cap, Australian Mid Cap and Global Emerging Markets investment capabilities.
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