AustralianSuper Selects JPMorgan For Private Equity Fund Services
JPMorgan announced today that it has been selected by AustralianSuper, one of Australia’s largest superannuation funds with over 1.3 million members, to provide private equity fund administration and reporting services. The mandate represents the first private equity outsourcing agreement with a superannuation fund in Australia, the fourth largest pension market in the world.
A pioneer in the Australian superannuation industry, AustralianSuper will be the first fund in Australia to use the Private Equity Fund Services (“JPMorgan PEFS”) platform for private equity, property and infrastructure reporting analytics. Run only to profit members, AustralianSuper holds over 25% of its assets in unlisted asset classes and will use JPMorgan PEFS for specialist investment services, including the provision of critical analysis and reporting of unlisted investments.
“We are delighted to be the first Australian fund to use JPMorgan PEFS to enhance our investment capabilities in the alternative investment arena. We believe JPMorgan’s experience and proven technology in this area of the market will allow AustralianSuper to concentrate on its core focus - building our members’ wealth,” said Peter Curtis, Senior Investment Manager at AustralianSuper.
JPMorgan PEFS will manage and support various processes for AustralianSuper, including alternative investment performance and investor tracking, while also assisting with the streamlining of AustralianSuper’s private equity instructions process. JPMorgan’s technology is the result of 10 years of private equity fund administration experience.
“The AustralianSuper-JPMorgan agreement represents one of the very first relationships of its type in the Southern Hemisphere,” said Laurence Bailey, JPMorgan Worldwide Securities Services Asia Pacific Chief Executive Officer. “AustralianSuper is highly regarded in Australia as being an innovative, adaptive Fund and JPMorgan is pleased to be involved in supporting its private equity, property and infrastructure portfolios.”
JPMorgan PEFS was established to provide middle and back office outsourcing of private equity fund administration services such as superannuation fund and partnership accounting, tax support and comprehensive reporting services. JPMorgan PEFS has a team of more than 150 dedicated finance and technology professionals with extensive experience in private equity accounting and operations, situated in Australia, the United States and Europe. Currently, JPMorgan provides services to more than 200 funds representing over $45 billion in committed capital. PEFS also serves the world’s largest institutional investors with over $100 billion in aggregate committed capital. JPMorgan PEFS technology was rated #1 on service and technology in a survey of private equity administration by Global Custodian magazine.
For more information on JPMorgan Worldwide Securities Services and PEFS please visit www.jpmorgan.com.au
About JPMorgan Worldwide Securities Services
JPMorgan Worldwide Securities Services, a division of JPMorgan Chase Bank, N.A., is a global industry leader with $15.6 trillion in assets under custody. JPMorgan provides innovative custody, fund accounting and administration and securities services to the world’s largest institutional investors, alternative asset managers and equity issuers. JPMorgan Worldwide Securities Services leverages its scale and capabilities in more than 90 markets to help clients optimize efficiency, mitigate risk and enhance revenue through a broad range of investor services as well as securities clearance, collateral management and alternative investment services.
About JPMorgan Chase
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $1.5 trillion and operations in more than 50 countries. The firm is a leader in investment banking, financial services for consumers, small business and commercial banking, financial transaction processing, asset and wealth management, and private equity. A component of the Dow Jones Industrial Average, JPMorgan Chase serves millions of consumers in the United States and many of the world’s most prominent corporate, institutional and government clients under its JPMorgan and Chase brands. Information about the firm is available at www.jpmorganchase.com.
AustralianSuper is one of Australia’s largest superannuation funds, with more than 1.3 million members, over 100,000 employers and more than $28 billion in funds under management. AustralianSuper was created on 30 June 2006 through the merger of Australian Retirement Fund (ARF) and the Superannuation Trust of Australia (STA). This information is current at the time of preparation. You should consider whether AustralianSuper is appropriate for you and read our Product Disclosure Statement, available at www.Australiansuper.com/FormsPublications or by calling 1300 300 273, before making a decision about AustralianSuper. AustralianSuper Pty Ltd ABN 94 006 457 987 AFSL 233788, RSEL L0000796, Trustee of AustralianSuper (SPIN STA0100AU, RSE R1001693.
Tel: +61 2 9250 4374
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