In a market where triennial reviews of service providers has become the norm, BNP Paribas Securities Services (BNP PSS) has extended a contract with one of its major clients out to 2014.
The French-owned bank division will service AMP’s custody and fund administration needs until at least 2014, after a contract re-negotiation process lead on the wealth manager’s side by director of technology alliances, Lou Pagano. BNP PSS head of sales and relationships, Ken Shaw, said both organisations had “;complementary”; plans to expand in the Asia-Pacific region. He said BNP PSS would soon locally launch ‘Neo-Link’, a web portal allowing clients to access all of BNP PSS’ online systems with a single sign-on.
Future Fund chief investment officer Ben Samild said that FY24 has been a great year for alpha creation, thanks to strong returns in equities and, unusually, across multiple hedge fund strategies all at the same time. He reflected the past few years have been “a difficult time to be an asset owner and to generate positive returns for risk assets” but the Future Fund is tracking well of its long-term mandate.
Simon Hoyle and Darcy SongSeptember 4, 2024
