The Australian Catholic Superannuation and Retirement Fund (ACSRF) has renewed its mandate with BNP Paribas for full master custody and fund administration services, following a competitive tender process.
The $4.5 billion fund's board of trustees determined BNP Paribas had satisfied its technology offering and performance measurement and reporting, unit pricing and fund accounting requirements.
"After evaluating several competitive bids, BNP Paribas stood out as best fit for our requirements," said ACSRF chief executive Greg Cantor in a statement announcing the reappointment.
"We first appointed them in 1995, and at each review since, they have continued to demonstrate an ability to meet our needs, innovation, and ongoing investment in technology," he added. "The trustee board is excited about BNP Paribas' pipeline of further innovations."
The French bank has made a concerted push into the Australian market, following its successful custodianship and solutions service provision in the European and Asian markets.
"We are delighted to continue this successful long-term partnership," said Pierre Jond, managing director of BNP Paribas Securities Services Australia & New Zealand.
"The superannuation sector is of key strategic importance to the business on both a global and local basis and success stories highlight our ability to service this sector."
