Bravura backs Northern Trust market entry
Bravura has announced it has agreed to a deal with Northern Trust, supporting its entry into the Australian superannuation investment accounting market.
Northern Trust acquired an Australian banking licence last month, allowing it to provide banking, asset and custodian services to its Australian-based clients, and it is now expanding its service offering within the Australian superannuation fund industry.
Northern Trust’s Australian managing director, Paul Cutts, said after an extensive review of IT providers, Bravura and its Garradin software offered a proven solution.
“The collaboration will allow us to service the superannuation investment accounting market from our Melbourne offices while also leveraging Northern Trust’s full global capability,” Cutts said.
Bravura’s Garradin software is a comprehensive, multi-currency platform with a diverse range of securities functionality, including stapled securities and instalment warrants.
For superannuation funds, Garradin provides management of inter and intra fund reconciliation and administers Australian tax requirements and a diverse range of securities.
AUTHOR
Mike Taylor
Recommended for you
Two commentators have shared why the inclusion of alternatives in a diversified portfolio shouldn’t be a simple switch with a traditional asset and will depend heavily on clients’ objectives.
Morgans chief executive, John Clifford, has announced he will step down from the wealth management group after eight years leading the business.
Funds under administration on the BT Panorama platform have passed $120 billion in the last six months as it progresses its migration of Asgard into the platform.
Private markets may be the hot topic of the day but two financial advisers have shared the red flags to consider and why advisers shouldn’t be tempted to invest solely in the pursuit of higher returns.
