Northern Trust gains hedge fund traction
Global asset servicing company Northern Trust is claiming success from last year's acquisition of Omnium LLC.
The company announced this week that as a result of the acquisition its hedge fund administration unit, Northern Trust Hedge Fund Services, had built significant momentum.
It said that in the past seven months, Northern Trust Hedge Fund Services (NTHFS) had secured 22 client wins on four continents.
It said the mandates include six new clients in the Asia-Pacific region.
Commenting on the developments, Northern Trust Hedge Fund Services chief executive Peter Sanchez said the business growth confirmed the company's offering to investment managers.
"The combination of our market-leading technology and domain expertise with the global scale, asset servicing capabilities and financial strength of Northern Trust makes for a unique and compelling offering," he said.
Recent mandates for Northern Trust Hedge Fund Services include new hedge fund launches and conversions from other administrators for managers pursuing long/short equity, credit, fund of hedge fund and global macro investment strategies, as well as multi-strategy firms.
Recommended for you
A quarter of advisers who commenced on the FAR within the last two years have already switched licensees or practices, adding validity to practice owners’ professional year (PY) concerns.
Integrated wealth and financial services group Rethink has launched a financial planning arm called Rethink Wealth to expand beyond property investing and into holistic wealth management.
While adviser numbers continue to slowly creep back up, the latest Wealth Data analysis reveals they would actually be in the green for the calendar year if it weren’t for so many losses in the limited advice space.
Iress has appointed a chief AI officer to spearhead the fintech’s strategic focus on AI, with chief executive Marcus Price describing how the technology opens the doors to a “new frontier for wealth advice”.
