Host-Plus, Carlton, Australia, rehired JPMorgan Chase Bank as master custodian, according to a joint news release. Host-Plus is the A$4.7 billion ($3.6 billion) pension fund for Australia's hotel, tourism and leisure industries.
"Host-Plus adopts a best-of-breed approach and we review key business partner services on a frequent basis to ensure that we maintain or exceed industry standards," said CEO David Elia in the news release. Mr. Elia did not return a phone call seeking additional comment.
The new contract includes performance reporting, accounting, taxation and investment performance services.
JPMorgan has been the fund's master custodian for six years.
