Australian Retirement Trust (ART) has selected State Street Corporation as custodian and investment administrator following a competitive tender process.
ART is the merger of Sunsuper and QSuper. The combined super fund has more than A$230 billion assets under management.
ART’s chief financial officer Anthony Rose said in a media release the appointment of State Street as the Fund’s primary custodian was an example of how the merger was driving greater efficiencies for members.
“Moving to a single custodian will be a significant integration milestone following the merger last year. This partnership delivers significant efficiency benefits and demonstrates the ability to leverage increased scale for our members,” he said.
The contract took effect on 31 December 2022.