Link Group (“Link”) today announced that it had acquired Australian Administration Services (“AAS”) from KAZ Group Pty Limited (“KAZ”). AAS is the pre-eminent administrator for industry funds in Australia including superannuation funds, retail master trusts, corporate schemes, eligible roll-over funds and redundancy trusts.
AAS administers superannuation for 220,000 employers and 4 million members, with a focus on quality service and the use of leading edge technology to ensure accuracy in record keeping.
Managing Director of Link, John McMurtrie, said that he was delighted to have reached an agreement for the purchase of AAS and also noted that he was looking forward to working closely with the AAS management team.
“This is a great opportunity for both Link and AAS to leverage scale and operate from a bigger platform. The combined group will focus on improving outcomes for clients through the use of continuous technological improvements and knowledge-sharing.
“It was always Link’s intention to expand its operations and the opportunity provided by diversifying into other financial record keeping services is significant. I believe that a combined Link and AAS will be able to produce superior outcomes for clients in the long term by continuing to invest in leading technology,” said Mr McMurtrie.
AAS currently administers superannuation funds with investments in excess of $20 billion. Link is dedicated to ensuring AAS customers continue to receive high quality of service by encouraging continuity of management and staff during this transition.
Mr McMurtrie said: “We are very impressed with the AAS management team and their service offering. We plan to provide further opportunities for AAS to remain competitive in record keeping technology through the use of best practice systems and processes.”
About Link Market Services
Link Market Services Limited – formerly known as ASX Perpetual Limited – is a leading provider of services and technology to financial market participants in Australasia.
Link seamlessly delivers a range of services to clients from its offices in Sydney, Melbourne, Brisbane, Auckland, Ashburton and Johannesburg. With over 8 million holder records under management Link maintains the registers of almost 500 entities.
Link has a strong reputation in financial record keeping, principally as a share registry in Australia, New Zealand and South Africa. Link has recently extended its offering to include company secretarial, managed funds outsourcing and Corporate File to its core registry services.
Link’s recent growth initiatives include:
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