AUSTRALIA - JPMorgan has been selected to provide private equity fund administration and reporting services to AustralianSuper, its first private equity outsourcing agreement with a superannuation fund in Australia.
JPMorgan PEFS will manage and support various processes for AustralianSuper, including alternative investment performance and investor tracking, while also assisting with the streamlining of AustralianSuper's private equity instructions process.
Peter Curtis, senior investment manager at AustralianSuper, said PEFS would enhance its investment capabilities in the alternative investment arena. He said: "We believe JPMorgan's experience and proven technology in this area of the market will allow AustralianSuper to concentrate on its core focus - building our members' wealth.
JPMorgan PEFS was established to provide middle and back office outsourcing of private equity fund administration services such as superannuation fund and partnership accounting, tax support and comprehensive reporting services.
In November, JPMorgan was chosen to provide portfolio administration and performance reporting to the State of Michigan's Department of Treasury Bureau of Investments' alternative investments division. Its PEFS provides the bureau with services including investment accounting, cash flow tracking and forecasting, reporting and analytics.
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