Custodial services

What are custodial services?

The custodial services area within Corporate Trustee Services is primarily responsible for transactional settlements, reconciliations, desktop banking, accounting 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?

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

We provide an effective accounting, administration and support service, both internally to Corporate Trustee Services, and to clients, so as to meet:

  • statutory requirements under the Companies Act for trust companies to act as trustee on behalf of unit trusts
  • the requirements of clients seeking:
    • independent custodianship
    • a bare trustee
    • a trustee company to act as paying agent.
  • reporting requirements as trustee.

We use our own nominee companies, where required, and have modern systems that provide real time electronic settlements and detailed reporting.

Public Trust as custodian to Safekiwi.

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.