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
Editor's Choice
The Productivity Commission has released its anticipated draft report on alternative default models in superannuation, looking at ways to introduce more competition in a system where members do not exercise fund choice.
Following research into the future of product innovation and development, Nikko Asset Management Australia has created a new executive role to drive the firm's product agenda.
New-York based financial firm Goldman Sachs is planning to launch an ETF which will invest in high-yield corporate debt, according to documents filed with the US Securities and Exchange Commission.
Two Contango MicroCap (CTN) directors were removed following an extraordinary general meeting and a third resigned prior to resolutions being passed.
Brought to you by
20 MAR 2017
Growth in multi-factor strategies was born out of the GFC as investors increased the search for investments that target a smoother ride in volatile and often event-driven markets. The SPDR MSCI World Quality ...
Get it Daily
Keep up to date, don't be the last to know! Get the Financial Standard Daily Newsletter.
Pocket investment guides featuring adviser case studies and a glossary.
Investing trends and strategies from the industry’s thought leaders.
Putting the spotlight on investment products that matter.
Expert Feed
Christopher Page
A new era
After years of back and forth, the legislation to increase the professional standards of financial advisers has been passed. The new ...
Stephen Fay
Starting at the insurance base camp with focus on value
Insurance can be a complex beast, but in a period where its reputation may be strained it is all the more important to talk of some ...
Christopher Page
Redefining the family office
While the family office model has traditionally been the preserve of the ultra-rich, this may be changing very soon. Last week, Findex ...
Michelle Baltazar
Like rocket fuel to a Spaceship
When a superannuation fund calls itself a Spaceship and nobody bats an eyelid, you know you're entering a new era in retirement investing. Spaceship's ...
Featured Profile
Professional Subscription for $295
(inc GST) for 1 year.
FS Advice
The Australian Journal of Financial Planning.
Get the free iPad app
Download the Financial Standard iPad app for FREE.
Link to something 2QisZPQb