After nearly three years as master custodian for Club Plus Superannuation, NAB Asset Servicing is facing its first review.
Club Plus, the $1.3 billion industry fund, reviews its custody arrangements every three years, which includes assessing tenders for the position.
NAB Asset Servicing has been the master custodian since the role was first created, with State Street Investor Services previously providing custodian services for certain assets.
The CEO of Club Plus, Paul Cahill, is running the tender and said companies must meet over 100 requirements across a broad range of custody operations.
Cahill said the possibility of expanding the services provided by the custodian would be determined after reviewing the tenders sent in for the role.
“We sent out a document asking for information, based on what they return we’ll then determine that then,” he said.