The $300 billion profit-to-member fund has linked up with Oxford Properties for a portfolio of high-quality European industrial and logistics assets that it wants to expand significantly over the next three to five years.
Australia’s megafunds are looking to international asset owners for ideas on how to invest what will soon be trillions in retirement savings. But banks – with their sharp focus on efficient implementation and balance sheet management – could also be a source of inspiration.
… as BNP picks up Northcape
(pictured: David Braga)
The $8 billion boutique equities manager Northcape Capital has switched securities servicing partners from RBC Capital to BNP Paribas as the manager looks to expand globally. The new arrangement includes middle-office services.
Northcape, which was established in 2005 and which ventured into emerging market equities in 2008, specialises in concentrated portfolios for institutional investors. It has four Australian equities strategies, including a mid-cap and a small-cap strategy, as well as the global emerging markets strategy.
David Braga, the head of BNP Paribas Securities Services in Australia and New Zealand, said Northcape appreciated the custodian’s global “follow-the-sun” service model and sophisticated data delivery and reporting which supported its middle-office services.
“We are also pleased to be able to assist Northcape in its growth strategy to become a global manager with a focus on emerging markets. Helping our partners grow is a major part of our focus,” he said.
Sean Cunningham, the manager’s operations manager, said the appointment reflected Northcape’s focus of aligning its business with the clients’ needs and expectations.
RBC Investor & Treasury Services is the only major custodian in Australia which specialises in services to funds managers, rather than super funds as well. Its long-time anchor client is Perpetual Investments.
