Multi-industry fund Asset Super will review its current custodian arrangement with NAB Asset Servicing. The review is part of the $1.4-billion fund's requirements as a trustee.
"Under the fund's outsourcing policy, there is a requirement for trustees to review service-providers at appropriate intervals to ensure that fund members are receiving both high levels of service and competitive pricing," said Asset Super chief executive John Paul.
"This is the first time that Asset has undertaken a formal tender for the provision of custodial services, and Drew Vaughan from Dymond, Foulds & Vaughan will be assisting Asset with the custodian review."
NAB Asset Servicing was appointed following the departure of Commonwealth Custodian Services from the custody market.
