Funds SA awards $34 billion mandate to Northern Trust

funds-sa/Northern-Trust/superannuation/angelo-calvitto/

15 July 2019
| By Laura Dew |
image
image
expand image

Funds SA, the investment manager owned by the Government of South Australia, has awarded a $34 billion mandate to Northern Trust.

The mandate required Northern Trust to provide asset servicing, investment administration and investment data services.

Funds SA invested over $34 billion in South Australia’s public sector pension and superannuation schemes and approved authorities. It also managed external investment mandates across a range of asset classes and geographies.

Northern Trust was a wealth management company with more than US$10.9 trillion in assets under custody/administration.

Angelo Calvitto, Northern Trust country executive- Australia, said the move would allow Funds SA to focus on its core investing activities.

“We are delighted to be working with Funds SA to support their growing business and enable them to focus on their core investing activities. As institutional investors look to enhance their operating models to meet their investment needs, they require a global asset servicing partner with local insights and expertise. 

“They also want to work with an organisation that delivers a high-level of client service, supported by leading-edge technology.”

 

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

So we are now underwriting criminal scams?...

1 month 4 weeks ago

Glad to see the back of you Steve. You made financial more expensive, not more affordable as you claim, and presided ...

2 months ago

Completely agree Peter. The definition of 'significant change is circumstances relevant to the scope of the advice' is s...

4 months ago

Entireti has unveiled the new name for the AMP financial advice businesses that it acquired last year....

3 weeks 5 days ago

A Sydney financial adviser has been permanently banned from providing any financial services, with the regulator deriding his “lack of integrity, trustworthiness and prof...

2 weeks 4 days ago

Minister for Financial Services, Stephen Jones, has provided further information about the second tranche of the Delivering Better Financial Outcomes (DBFO) reforms....

1 week 3 days ago

TOP PERFORMING FUNDS