Club Plus Superannuation, an A$1.3 billion (US$1.29 billion) Sydney-based industry fund, launched a search for a master custodian.
NAB Asset Servicing has been the master custodian since the role was first created.
Club Plus CEO Paul Cahill is running the tender and said the possibility of expanding the services provided by the custodian would be determined after reviewing the tenders received.
“We sent out a document asking for information; based on what they return, we’ll then determine that,” he said.
Club Plus reviews its custody arrangements every three years.
Miranda Ward writes for I&T News, Sydney.