REST Industry Super has appointed State Street as its global securities lending agent.
Under the agreement, State Street will provide REST with a comprehensive securities lending programme for its holdings of both bonds and equities in around 30 markets worldwide, State Street's Asia Pacific regional business director of securities finance Francesco Squillacioti said.
"Securities lending is an area where funds with extensive domestic and global holdings require specific support and technical expertise," Squillacioti said.
"State Street is consistently recognised in this area for its industry-leading, comprehensive and innovative solutions for clients."
The appointment follows the announcement in January this year of a long-term superannuation servicing agreement between State Street and REST which includes custody, fund accounting and complex tax services.
REST Industry Super has about 1.9 million members and over $20 billion in funds under management.
