Future Fund selects Northern Trust
One of the last key Future Fund mandates has been awarded, with London-based Northern Trust having been selected to provide global custody and related services.
Announcing the mandate win, Northern Trust described it as the largest-ever custody mandate to be awarded by an Australian institution.
Confirming the selection of Northern Trust, the head of operations for the Future Fund, Gordon McKellar, said the selection process had been assisted by specialist global securities services firm Thomas Murray.
“Throughout the selection process we focused on the ability of the custodian to deliver global best practice and innovative solutions with minimal risk to the fund,” McKellar said. “Northern Trust showed it was able to meet the full range of requirements.”
AUTHOR
Mike Taylor
Recommended for you
Two commentators have shared why the inclusion of alternatives in a diversified portfolio shouldn’t be a simple switch with a traditional asset and will depend heavily on clients’ objectives.
Morgans chief executive, John Clifford, has announced he will step down from the wealth management group after eight years leading the business.
Funds under administration on the BT Panorama platform have passed $120 billion in the last six months as it progresses its migration of Asgard into the platform.
Private markets may be the hot topic of the day but two financial advisers have shared the red flags to consider and why advisers shouldn’t be tempted to invest solely in the pursuit of higher returns.
