Equity Trustees appoints State Street for custody contract
State Street has announced Equity Trustees has appointed State Street for custodial and investment administration services of Equity Trustees Wealth Services Limited funds.
The new agreement would have State Street provide Equity Trustees with back office services including custody, fund accounting, regulatory reporting, compliance and tax services.
Daniel Cheever, head of State Street Global Services for Australia, said the mandate reflected the strong working relationship between the two companies.
“We are delighted to expand our relationship to provide this service to two parts of the EQT Group of companies and look forward to supporting their growth,” Cheever said.
Mick O’Brien, Equity Trustees’ managing director, said they were entrusted with supporting their clients and their beneficiaries, which included managing their money.
“We are confident that State Street has the right expertise and resourcing to support our back office as we continue to focus on our core business of acting as a professional trustee,” O’Brien said.
Recommended for you
In the latest Meet the Manager profile, Money Management speaks with Michael Skinner, founder and managing director at Blackwattle Investment Partners.
Perpetual has seen AUM rise 6 per cent in the last quarter but the departure of a longstanding JOHCM fund manager led to outflows of $2.2 billion from his strategy.
Global fixed income fund Bentham Global Opportunities has been added to several major platforms, enabling it to be accessed more easily by financial advisers.
Following yesterday’s news about First Sentier Investors closing four investment teams, a second global asset manager has announced it is closing its only dedicated Australian fund.
