First Sentier signs mandate with Northern Trust
First Sentier Investors has inked a mandate with Northern Trust, expanding its administration service into Australia and the UK.
First Sentier, which has $226 billion in assets under management, will utilise Northern Trust for its front-to-back solutions to use on its public market fund business in Australia, the UK, Ireland and Singapore.
This will include custody, depositary/trustee services, fund accounting, share-class hedging, transfer agency and regulatory reporting services.
The two firms have already worked together since 2005 on providing custody and fund administration to the US market, and providing middle office solutions since 2020.
Northern Trust was selected, First Sentier said, because of the shared values between the two businesses and the consistent service model. The firm offers fund administration, global custody, outsourcing and data solutions to global investment managers.
Amanda Gazal, chief operating officer at First Sentier Investors, said: “In choosing a primary provider across our middle and back offices, we looked for one that could provide scale and operate effectively across multiple platforms and geographies. We selected Northern Trust because of the partnership approach and shared values between our two organisations as well as their consistent and scalable service model.”
Peter Cherecwich, chief operating officer at Northern Trust, added: “We are pleased to be partnering with First Sentier Investors on this important mandate. Our whole office approach delivers a front-to-back solution that provides First Sentier Investors with a global model for their consolidated book of middle office and funds business, while also helping them streamline processes and increase efficiency across their organisation.”
In October, Northern Trust announced it had entered into a strategic agreement with Hamilton Lane for Hamilton Lane to provide its software and integrated services to clients of Northern Trust’s Asset Servicing.
Northern Trust will offer clients access to Hamilton Lane’s private market data, analytics, and tools through its suite of Northern Trust Total Portfolio Analytics solutions, an ecosystem that comprises integrated technology and capabilities across the entire investment lifecycle.
AUTHOR
Laura Dew
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