Australian custodians hold $3.49 trillion in assets on behalf of Australian investors, with JP Morgan holding the largest share with 22 per cent of the market.
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.
AMP has announced that it will not be issuing an interim dividend for the first half of 2019 after the sale of AMP Life looks set to fall ap...
Three Australian superannuation funds have joined a coalition of investors urging Amazon to explain labour rights in the retail giant’s o...
Despite protests from CBA, two law firms have been granted permission to work together to bring two separate class actions against the major...