First State Super to insource more, broaden allocation
The Australian pension fund aims to internalise more investment and expand its active asset allocation programme. It has hired a new custodian and fund admin provider as part of this plan.
Sydney-based First State Super is to expand its active asset allocation programme under a strategic plan this year to bring more investment functions in-house and offer more electronic services to its 755,000 members.
As part of these moves, the A$52 billion ($39 billion) pension fund has appointed State Street as its custody and administration services provider to replace JP Morgan.
FSS chief executive Michael Dwyer told AsianInvestor: “The programme is to selectively in-source…
Please sign in or register
for free access to 1 article per month from AsianInvestor’s content and archives of over 16,000 articles.
¬ Haymarket Media Limited. All rights reserved.