Appointment Extends Relationship and Supports Delivery of Premium-level Service to Investors
Northern Trust (Nasdaq: NTRS) today announced it has been selected by Sands Capital Management to provide fund administration, transfer agency, depositary and global custody services to its Ireland-domiciled Undertakings for Collective Investment in Transferable Securities (UCITS) umbrella fund.
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Sands Capital’s US$6 billion UCITS umbrella fund, Sands Capital Funds Plc, currently operates four sub-funds delivering equity investment strategies focused on global, US and emerging markets. The appointment sees Sands Capital consolidate provision of all asset servicing functions for Sands Capital Funds Plc to Northern Trust.
Dana McNamara, chief administrative officer at Sands Capital said: “We are consolidating service provision to streamline our operating model and create efficiencies across our fund operations. In Northern Trust, Sands Capital has appointed an asset servicing partner with the scale, experience and technology to support the significant growth of our funds and help us continue to deliver a premium-level service to our investors as we grow.”
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This appointment builds on Northern Trust’s existing relationship with Sands Capital, which includes providing asset servicing solutions for its unregistered funds domiciled in the US.
Clive Bellows, head of Global Fund Services, Europe, Middle East and Africa at Northern Trust said: “Across our business, we are working with forward-looking clients such as Sands Capital to optimize their operating models, maximize technology use and enhance the scalability of their fund operations. Our global reach and comprehensive set of solutions means Northern Trust is well-placed to help Sands Capital reach new investors and execute its strategic plans.”
Northern Trust’s Global Fund Services business provides services including fund administration, global custody, investment operations outsourcing and capital market revenue enhancement solutions to global investment managers – supporting a range of complex investment strategies across the full spectrum of asset classes.
