BNY Mellon has secured a custody mandate for South Korea’s National Pension Service (NPS), one of the world’s largest pension fund schemes.
The global custody mandate will involve NPS’s fixed income portfolio.
“This appointment further affirms the value BNY Mellon provides through its integrated servicing and data solutions to key institutional investors,” said Rohan Singh, Asia-Pacific head of asset servicing, BNY Mellon.
“We are committed to providing robust data management and performance attribution capabilities to help asset owners address their investment challenges in an increasingly complex market environment.”
As of June 2018, the NPS held a total $600 billion of assets under management, of which $200 billion is dedicated to being invested globally across 68 markets.
The partnership builds on the global custody mandate BNY Mellon signed with Korea’s NPS in 2007, which also include securities lending and other services.
In 2016, BNY Mellon expanded its trustee services to Korea, expanding its international services to domestic Korean clients.