NAB Asset Servicing gains mandate
National Australia Bank Asset Servicing (NAB Asset Servicing) has won the custodial and administration services mandate for Maple-Brown Abott's retail funds (MBA).
NAB Asset Servicing said its appointment by MBA had followed a comprehensive selection process.
With approximately $10 billion in funds under management, MBA is a privately owned investment firm specialising in the management of Australian and Asia Pacific ex-Japan equity portfolios for corporations, institutions, industry and corporate superannuation funds.
Commenting on the mandate, which became effective from late April, MBA chief operating officer Richard Grundy said the selection of NAB Servicing stemmed from its local strength and ability to deliver.
"NAB's service model, registry, systems capabilities and ability to meet current and future demands were key factors in our decision making process," he said.
According to NAB Asset Servicing general manager sales, relationships and financial market services, Brian Keogh, MBA is one of nine new clients NAB Asset Servicing has won in the past nine months.
Recommended for you
The month of April enjoyed four back-to-back weeks of growth in financial adviser numbers, with this past week seeing a net rise of five.
ASIC has permanently banned a former Perth adviser after he made “materially misleading” statements to induce investors.
The Financial Services and Credit Panel has made a written order to a relevant provider after it gave advice regarding non-concessional contributions.
With the election taking place on Saturday (3 May), Adviser Ratings examines how the two major parties could shape the advice industry in the future.
