JP Morgan lands £4.2bn Prudential fund custody

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UK – JP Morgan Investor Services Europe, Middle East and Africa (EMEA) has been appointed as global custodian to the £4.2bn (€6.7bn) Prudential Staff Pension Scheme (PSPS).

The custody mandate will also include investment accounting.

The PSPS, a defined benefit (DB) pension scheme, recently changed its manager structure, shifting from one balanced manager to six specialist managers covering UK, European, US and Far East equities, property and venture capital.

Says a spokesperson for PSPS: “The additional monitoring required of the fund as a result of the recent changes with our investment managers is perfectly complimented by the level and quality of services offered by JP Morgan.”

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