Custodial services

We provide custodial services to a wide variety of clients in the New Zealand market. In addition to holding securities for safekeeping, we are also responsible for trade and cash transactions,  settlements, the collection of dividends and interest payments, tax support, reconciliations, foreign exchange and regular reporting to clients.

What are custodial services?

Custodial services within Corporate Trustee Services have responsibility for banking and trade transactions, settlement, reconciliations, and reporting to clients on a daily, weekly and monthly basis. Most transactional work is intra-day settlements which must be completed within allotted deadlines.

Settlements are completed for:

  • Managed Investment Schemes
  • Securitisations
  • Corporate cash management funds
  • Wrap account managers
  • Tax pooling
  • Bare custody
  • Escrow arrangements
  • Loyalty card schemes
  • Retirement villages
  • Paying agent.

We provide custodial services so as to meet:

  • statutory requirements under the Financial Markets Conduct Act 2013 for managed investment schemes to have their assets held by the supervisor's independent custodian.
  • the requirements of clients seeking:
    • independent custodianship
    • a bare trustee
    • a trustee company to act as paying agent.
  • reporting requirements as trustee.

Third party arrangements

We have arrangements with third parties who have a particular expertise, such as international custody or fund accounting, to provide these services when required.  This gives us the ability to tailor solutions specifically for individual clients, and means a seamless service for the client, without complication of extra contracts and paperwork.