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Administration May 9, 2002
JPMorgan Appointed Custodian of Top UK Plan
September 17, 2001 (PLANSPONSOR.com) - UK pension
plan Prudential Staff Pension Scheme has appointed JPMorgan
Investor Services Europe, Middle East and Africa (EMEA) as
its global custodian.
Reported by editors@plansponsor.com
The Prudential Staff Pension Scheme is a defined benefit, final salary plan for employees of Prudential and is, with a fund value of £4.2 billion, among the top 50 plans in the UK.
In the last 12 months, the fund has seen substantial changes in investment managers. The fund, which was previously run by one balanced manager, now has six specialized managers covering UK, European, US and Far East equities, property investments and Venture capital.
The pension plan will also use JPMorgan’s investment accounting service, additional monitoring required as a result of the recent changes.
JPMorgan Investor Services is one of the world’s largest providers of custody and investor related services, with nearly $6 trillion in assets under custody, of which $2.3 trillion are global custody assets.
JP Morgan Chase & Co manages assets of $713 billion and operates in more than 50 countries.
– Camilla Klein editors@plansponsor.com
Read more at our Custody and Master Trust Solution Topic
Read more at our Global Custody 2000 Survey