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Catholic super fund seeks outside custodian

The Melbourne-based Catholic Superannuation Fund (CSF), which has about 30,000 members and over $1 billion in assets, has begun a search for an external custodian and has hired Mercer Investment Consulting's Drew Vaughan to manage the tender.

CSF CEO Frank Pegan says: "The complexity of investment markets and the sophistication of our investment arrangements has increased significantly in recent times. As a result, the Trustee has decided that it is appropriate for the fund to appoint an external custodian.

"The role will involve traditional custody and reporting services, as well as the preparation of unit prices and specialised reporting for the increased range of investment options which the fund will offer to members."

CSF does not currently use the services of a custodian and the appointment will be its first strategic step in its drive to enhance the range of investment options and services available to members.

A decision is expected before the end of the year.

Money Management

Catholic Superannuation Fund
Money Management Blue Book Directory

8 Nov 2002