State Street

Having handed its custody to State Street, Australian Ethical has selected the Charles River Investment Management Solution to automate its front and middle office processes for its entire investment portfolio.

State Street’s big Challenger win will no doubt look good on the ACSA tables, but an influx of expertise will also boost its Alpha-focussed business strategy in the land down under.

The $127 billion Challenger has selected State Street as its new custodian and will be one of the largest invest managers in the region to deploy Alpha, its front-to-back asset servicing platform.

State Street has been appointed to provide custody and administration to the $32 billion superannuation fund, with its Brisbane presence one of the key factors in the win.

Big asset owners and managers are embracing the private markets as one avenue for growth, but the complexity that brings to portfolios means they also need to get a better view of what might be decades of siloed information.

Private markets could be almost on par with listed assets in institutional investor portfolios before the end of this decade, according to a new State Street study.

Perpetual will use Charles River Development’s Investment Management Solution for its front-office operations as it prepares for an “evolving investment management landscape”.

The custodian has leapt up the league tables off the back of its big Australian Retirement Trust win, and it’s now getting ready to transfer a number of former NAS clients to its platform even as it beds down the megafund integration.

The custodian is exploring use cases for machine learning and generative artificial intelligence to give its clients help in parsing – and visualising – the vast quantities of granular data now available to them.

Big institutions live and die by their data, but State Street finds that very few have a strategy for acquiring and managing it while many are lagging in their technology investment.