(26 October 2004 – Australia) BNP Paribas Securities Services has been appointed master custodian to the Master Superannuation Fund (MSF).The appointment comes just one week after BNP Paribas was appointed to provide custody and investment administration services to the Office of the Protective Commissioner.
MSF manages investments for 11,500 employees of multiple companies across Australia with assets totalling A$400 million.
BNP Paribas Securities Services business development head Chris Briant said the appointment coupled with recent wins with funds management entities aligned BNP Paribas’ strategy of servicing both funds management outsourcing and master custody markets.
MSF had not previously outsourced its investment administration to a master custodian.