The latest statistics from the Australian Custodial Services Association (ACSA) show that total assets under custody for Australian investors grew by 4.9 per cent in the six months to 31 December 2017.
Total assets under custody reached just over $3.49 trillion by the end of 2017, with JP Morgan holding the largest share at 22.3 per cent or $779 billion.
Nab Asset Servicing, BNP Paribas, State Street and Citigroup rounded out the top-five largest custodians, with $1.88 trillion in custody between them.
The amount of overseas client investment in Australia (ie, assets held in sub-custody) also grew by 6 per cent to $1.47 billion during the second half of 2017, according to ACSA.
“In addition to asset values, the statistics show that transaction volumes for equities increased during the six months to 31 December 2017, continuing the recent upward trend,” said ACSA.
The custody sector settled 9.5 million trades during the second half of 2017, according to ACSA.
