Industry fund Asset Super has retained NAB Asset Servicing as its custodian after the conclusion of a formal tender process.
Six companies filed a tender, but the $1.4 billion super fund decided to retain NAB after advice from its consultant Dymond Foulds & Vaughan, which completed a review and provided a comprehensive report to the Asset Super board in June.
Key considerations in the board's reappointment of NAB Asset Servicing were its ability to deliver the unit pricing solutions required by Asset into the future and the strong eight-year partnership between the two entities, Asset Super chief executive John Paul said.
