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Funds SA custodian transition – deferral

Funds SA custodian transition – deferral

Due to the uncertainties and heightened short-term risk environment caused by the COVID-19 pandemic, Funds SA has made the decision to defer the transition of its custodial services from JP Morgan to Northern Trust.

The original transition target date was 1 April 2020, and all key deliverables of the transition project were being met.  However, we believe that a decision to defer at this time is appropriate from a risk management perspective, given the prevailing circumstances of high uncertainty and extreme market volatility.  Funds SA anticipates the custodian transition will now take effect in the second half of 2020.

Funds SA CEO Jo Townsend said, “In making this decision, we acknowledge and appreciate the continued support from both Northern Trust and our incumbent custodian partner, JP Morgan.”

 

For further information, please contact:

Ms Jo Townsend

Chief Executive Officer

Tel:  08 8204 2351

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