Contributing to the record, top provider JP Morgan surpassed $1 trillion assets under custody, becoming the first provider to do so.
State Street appointed securities services provider for AllianceBernstein’s Australian dual access ETF
Over the past year, State Street has established itself as the provider of choice for the active ETF market.
Mainstream has notified SS&C of the superior proposal, and has given the group until Thursday 6 May to match or offer more.
The announcement follows the conclusion of Scheme Implementation Deed with Vistra, which opted not to match SS&C’s offer.
After going live last year with Fidelity International as its first client on the InvestOne platform, JP Morgan has since it migrated nine Australian clients.
Mainstream had previously entered a deal with Vistra as part of a $170 million deal, however it was granted a month to seek competing offers.
State Street has appointed LAB Group to automate and enhance the client onboarding experience for Australian fund manager clients.
TMF Group started the year with a string of appointments for its APAC fund services business in China and Singapore.
The former JP Morgan and State Street securities services veteran has retired after 32 years in the Australian asset servicing industry.
A bounce in market valuations on the back of improved market returns and ongoing client confidence helped fuel the increase in AuC in Australia.