GLOBAL - Swiss firm Credit Suisse and two compatriots topped the R&M Global Custody Survey, with RBC Dexia doing well in Europe and Canada.
Richard Hogsflesh, managing director, R&M Surveys, said: "Some 881 pension schemes and fund managers responded to the 16th survey; they see it as a useful tool to compare how their provider measures up against the competition."
Globally pension funds voted RBC Dexia top, followed by Credit Suisse and BNY Mellon.
UBS and Pictet made up third and fourth place in the global overall ratings.
Hogsflesh said BNY Mellon had performed well following last year's merger, but warned this global picture could not always give an accurate view, as services the firms provided would differ depending on the country.
Respondents to the survey were those involved in the daily management of the fund and had the most contact with the custodian.
The Next Generation Pensions Committee is on a mission to promote and encourage younger voices in the industry. Kim Kaveh looks at its key objectives
This week's top stories included an analysis finding the cost of equalising guaranteed minimum pensions in schemes could hit FTSE 100 profits by up to £15bn.
Employers whose dividend to deficit recovery contribution (DRCs) ratios fall outside the "normal range" should expect to see higher regulatory scrutiny, although no fixed ratio will be set.
Investment consultants and fiduciary managers should expect a final decision on the investigation into the market to be published by the end of the year, the competition watchdog says.