Custodian reappointment
Professional Associations Super reappoints J.P. Morgan as custodian of the fund
Following a recent review, Professional Associations Super has reappointed J.P. Morgan as its master custodian for a further three-year term.
The company was reappointed on the basis of their strong performance in the past three years, with Paul Kessell, Chief Investment Officer of Professional Associations Super, commending J.P. Morgan on their work to date.
“J.P. Morgan has done a great job in this role. They’ve built a strong partnership with us based on their proactive approach and they’ve contributed to the fund at a strategic level,” said Mr Kessell.
“They provide high quality products and services, which are scalable and can grow with us. J.P. Morgan’s breadth of experience also means they provide solutions which can handle our specific requirements,” he said.
“Given this, and their commitment to service excellence, reappointing them was an easy decision.”
Bryan Gray, Managing Director and Head of Client Relationships and Sales at J.P. Morgan, said the organisation was extremely pleased to be reappointed to the role.
“We’re proud of our association with Professional Associations Super, and are delighted to continue our relationship. We’re committed to assisting the Fund in offering a comprehensive service to its members,” said Mr Gray.
J.P. Morgan will continue to provide a full range of master custodian services to Professional Associations Super, including accounting, custody and performance reporting. The company was initially appointed to the role in June 2008, and the appointment is reviewed every three years.
As part of a regular review of its service providers, Professional Associations Super also recently reappointed Towers Watson as the fund’s investment consultant.
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Published: 19 July 2011
RecruitmentSuper Growth has been named as one of Australia’s Top 10 performers over the past year in the Australian Financial Review.
Overall, the median balanced fund returned 10.1 per cent for the financial year to March against 10.4 per cent for 2010 after two years of losses during the credit crisis.
ChantWest Director Warren Chant noted that a poor June quarter last year, when the median growth fund shed 4 per cent, meant conservative funds were ahead on one-year figures. Excluding that period, growth assets have generally helped performance.
RecruitmentSuper Growth has been named as one of Australia’s Top 10 performers over the past year in the Australian Financial Review.
Overall, the median balanced fund returned 10.1 per cent for the financial year to March against 10.4 per cent for 2010 after two years of losses during the credit crisis.
ChantWest Director Warren Chant noted that a poor June quarter last year, when the median growth fund shed 4 per cent, meant conservative funds were ahead on one-year figures. Excluding that period, growth assets have generally helped performance.
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SMARTpension is a division of Professional Associations Super, an industry fund with over 445,000 members across Australia and over $1.5 billion of funds under management. Professional Associations Super divisions include Accountants Super, Australian Enterprise Super, and RecruitmentSuper
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