The decision to retain JP Morgan came after extensive reviews by both funds, according to a statement by the custodian.

LGS chief executive Peter Lambert said JP Morgan proved it could deliver the services his fund needed for the future.

"The breadth of JP Morgan's networks and understanding of our strategic goals were instrumental in the continuation of the partnership," Mr Lambert said.

As part of that partnership, JP Morgan will provide custody, fund accounting, unit pricing, performance and compliance reporting, passive currency overlay and unlisted asset administration, the statement said.

Similar services will also be part of JP Morgan’s renewed relationship with Intrust Super Fund, according to the statement.

Intrust Super Fund chief executive, Brendan O'Farell said his fund’s priority is "helping its members take control of their finances and mak[ing] long-term financial plans".

"It was essential we appoint a custodian that understands our member-centric goals and can deliver services to help us manage a rapidly evolving investment climate,” said Mr O’Farrell.

JP Morgan Investor Services executive director and senior relationship manager, Chris Field, said “the strength of our relationships and ability to support LGS and Intrust Super Fund in meeting their member needs were central to the decision by both funds to reappoint JP Morgan".

"Our platform investment initiatives, custodial expertise and position as an industry knowledge leader, demonstrated to both funds that we can deliver the services they are seeking to improve efficiencies and streamline processes," Mr Field said.