Australian absolute return fund manager Optimal Australia has selected NAB Asset Servicing for its custody and back-office services.
Optimal Fund Management Australia, which recently launched a benchmark independent long-only fund, has announced a partnership with NAB Asset Servicing.
Commenting on the appointment, NAB general manager of asset servicing, John Comito, said the Australian institutional investment sector is reaching an "inflection point" when it comes to custody servicing.
"Institutions [are] looking for in-region specialist knowledge combined with transparency on operational leakage, which is critical for fund managers," Mr Comito said.
"Optimal Australia has had significant success with their absolute return fund, and we are keen to support them as they grow their product set into the future," he said.
Optimal Australia principal George Colman praised NAB Asset Servicing's "advanced back-office technology" and "ability to move quickly to meet our requirements".
"Their specialist knowledge with respect to the funds management industry and the local support they provide was critical to our decision," Mr Colman said.
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