Northern Trust Corporation issued the following announcement on July 12.

Funds SA, the investment management corporation owned by the Government of South Australia, has appointed Northern Trust (Nasdaq: NTRS) for a AU$34bn mandate to provide a master custody solution including asset servicing, investment administration and investment data services, following a competitive tender process.

Angelo Calvitto, Northern Trust country executive, Australia, said: “We are delighted to be working with Funds SA to support their growing business and enable them to focus on their core investing activities. As institutional investors look to enhance their operating models to meet their investment needs, they require a global asset servicing partner with local insights and expertise. They also want to work with an organization that delivers a high-level of client service, supported by leading-edge technology.”

Funds SA invests over AU$34 billion on behalf of South Australia’s public sector pension and superannuation schemes and approved authorities. Funds SA manages a number of external investment mandates across a diverse range of asset classes and geographies.

Northern Trust is a full-service provider to the Australian and New Zealand market and delivers a range of innovative solutions for institutional investors, including Australian investment accounting and tax, unit registry services, global custody, investment operations outsourcing and capital market solutions – which includes brokerage, foreign exchange, securities lending and transition management.

Original source: https://www.northerntrust.com/asia-pac/pr/2019/funds-sa-appoints-northern-trust-asset-servicing-investment-mandate