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?...

2 months 3 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 3 weeks ago

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

4 months 3 weeks ago

ASIC has suspended the Australian Financial Services Licence of a Melbourne-based financial advice firm....

1 week 3 days ago

The corporate regulator has issued infringement notices to three AFSLs whose financial advisers provided personal advice to a retail client while unregistered....

2 weeks 2 days ago

ASIC has released the results of its first adviser exam to be held in 2025, with 241 candidates attempting the test....

3 weeks ago

TOP PERFORMING FUNDS

ACS FIXED INT - AUSTRALIA/GLOBAL BOND