Northern Trust has expanded its global custody partnership with First Sentier Group through a U.S. mutual fund transition. The global custody agreement is a way of strengthening their existing relationship. Additionally, it will enable First Sentier Group to achieve operational growth in the U.S. market. Under this expansion, Northern Trust will provide asset servicing solutions for First Sentier Group’s U.S. mutual fund clients. By doing this, they will achieve increased efficiency and operational consistency. Moreover, global custody services will help in improving fund administration and reporting processes. This will, in return, enable them to deliver better services to their clients.
Ryan Burns, head of Global Fund Services, Americas, Northern Trust, said: “This transition underscores the continued expansion of our U.S. mutual fund servicing capabilities. Datum One Series Trust offers global asset managers an efficient entry point into the U.S. mutual fund market, backed by Northern Trust’s history of delivery expertise and the breadth of our global servicing platform.”
Strengthening Global Asset Servicing Capabilities
Northern Trust is strengthening its position as a leading asset servicing and financial operations provider. Moreover, the partnership demonstrates its expertise in managing complex fund structures. As a result, First Sentier Group can focus on its investment strategies and deliver for its clients. The change is a response to rising demand for integrated financial services solutions. Additionally, asset managers look for partners that have significant global capabilities. As a result, Northern Trust is able to support its clients seamlessly and globally. Northern Trust is committed to strengthening its relationships with clients by delivering tailored financial solutions. The company is committed to investing in its capabilities to deliver services globally.
Bachar Beaini, managing director, Americas, First Sentier Group, added: “Northern Trust’s depth of U.S. mutual fund expertise and global operating experience were key factors that influenced our decision. We believe the combination of the series trust structure, Northern Trust’s global custody capabilities, and fund operating oversight will enhance our mutual fund offerings while also enabling a cost‑effective solution for approaching the U.S. mutual fund market.”
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News Source: Businesswire.com
