Telstra Super, Australia’s largest corporate super fund, is an existing client of NAB. BNY Mellon has been selected through the company’s marketing alliance with NAB – announced in June 2013 – which was established to further strengthen the relationship between NAB and BNY Mellon by expanding the range of asset servicing products and services available to clients of NAB in Australia and New Zealand. Telstra Super is the first major client to benefit from the terms of this alliance with respect to their private equity positions.

 

“Superannuation funds continue to be challenged by growing regulatory demands and are turning to their custodian to service the array of complex new funds, structures and strategies being introduced," said Michael Chan, Asia-Pacific head of BNY Mellon’s asset servicing business. “Our ability to provide a full range of private equity administration solutions to our clients has proven an effective differentiator for us around the world and we are thrilled that through our alliance with NAB, we are now able to offer these solutions to institutions in Australia.”

 

Christine Bartlett, executive general manager of NAB’s asset servicing business said: “This mandate is a great example of NAB and BNY Mellon’s alliance in action. The premise of this alliance is to support our clients in Australia and New Zealand to achieve their growth ambitions. Telstra Super, a valued client of ours, is now benefiting from the expertise and experience that BNY Mellon has in handling private equity positions and this is a great outcome.”

 

BNY Mellon is a leading administrator of alternative assets, including single manager hedge funds, funds of hedge funds, and private equity, with more than US$600 billion of alternative assets under administration and/or custody, as of June 30 2013, and an extensive global presence. BNY Mellon also offers a wide range of cash management, foreign exchange, collateral management, corporate trust, and wealth management services to the alternative investment industry.