Royal Trust Global Securities Services says it has completed the acquisition of Perpetual Fund Services, the custody, investment administration and unit registry business of Perpetual Trustees Australia Ltd.

The new Australian group, with client assets under administration of A$76 billion ($61 billion) and annual revenue of approximately A$38 million, is one of the country’s largest providers of outsourced back-office administration to fund managers. It will operate under the legal entity RBC Global Services Australia Pty. Limited and will be known in Australia as RBC Global Services.

Royal Trust Global Securities Services is Canada’s largest custodian and a leading provider of securities services worldwide with client assets under administration of A$1.5 trillion.