State Street has been appointed as custodian and administrator for the >AUD30bn (USD20bn) in funds invested for members of Brighter Super, an Australian super. State Street will provide services to Brighter Super’s >130 portfolios across multiple asset classes including equities, fixed income, private assets and derivatives.
Under the new mandate, State Street will provide Brighter Super with fund accounting and unit pricing, custody, administrative services, alternative investment services, taxation services, financial and regulatory reporting, performance and analytics, investment mandate monitoring, and securities lending.