The mandate comes as JP Morgan renews its focus on global custody after undergoing a strategic review of its securities services business in the region.
The US bank has established itself as the largest custodian in Australia, servicing around AUS$866.7 billion in assets as of the end of 2019.
The $35 billion super fund decided to defer the move from a ‘risk management perspective’, given the extreme market volatility caused by the COVID-19 virus.
UniSuper said the decision is aimed at curtailing the amount of short selling that has been sparked by the pandemic.
Asset owners have increased demands for technology solutions and near real-time data to support their in-house active investment operations.
JP Morgan continues to cement status as largest asset servicer in Australia with key extension of AUD$12 billion super fund.
Superannuation fund owned by the Government of South Australia selects Northern Trust for custody mandate.
Australia’s largest custodian continues to grow with extended deal from asset manager for its unlisted unit trust assets.
The acquisition of the business marks Clearstream’s first venture into the Australian funds market, as it looks to grow its presence in the Asia-Pacific region.
JP Morgan was the largest custodian in Australia with $778 billion in assets under custody at the end of 2017.