Incumbent National Australia Bank Asset Servicing has been reappointed as custodian and investment administrator for OC Funds Management.

The re-appointment is for a five-year term, following on from what is already a seven-year liaison.

The decision was made after a custody review, with OC’s market manager Sam Cole saying the “depth and strength” of the NAB relationship were key factors.

Melbourne-based OC was originally known as Opis Capital, after the Sabine deity of plenty, but changed its name to OC after market confusion over the Opes Prime collapse caused concerns that the funds manager may be tainted by association.

OC is a bottom-up stockpicker with $170 million under management. It operates three funds, the flagship being a small-cap premium equity fund that has returned 11 per cent since launch, outperforming its index, which has gained 4.1 per cent.

The best performer has been a dynamic equity fund that has returned 14.5 per cent against an All Ordinaries benchmark of 8.9 per cent.

With its purchase of Patriot Asset Management in 2010, OC has also grown through acquisition.

The firm’s team comprises founder and executive director, Sam Baillieu, Robert Frost and Stephen Sedgman.