Philippine pension fund switches custodians

The Philippines' Government Services Insurance System (GSIS) has shifted the custody mandate for its global investment programme to JP Morgan Worldwide Securities Services a little more than a year after awarding the mandate to Citi. Under the mandate, JP Morgan will provide what it deems "master custodian" services including fund reporting, compliance monitoring and performance measurement to the GSIS. "We are delighted to have been selected by a key public institution like GSIS to…