Delivering Global Custody and Depositary Services to ETF Specialists Serving Family Offices, High Net Worth and Retail Investors
Northern Trust has been appointed by Omba Investments Irish Collective Asset-management Vehicle (ICAV) to provide global custody, depositary and associated services for its new Ireland-domiciled Undertakings for Collective Investment in Transferable Securities (UCITS) umbrella fund.
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“Prescient is proud to be associated with Omba for its new Irish ICAV. We are excited to partner with Omba as they launch their platform – and with the prospect of sub-funds in the pipeline, look forward to supporting them on their growth journey.”
The planned US$100 million Omba Investments ICAV (Omba) umbrella fund will launch with two new UCITS funds, the Omba Global Thematic Fund and Omba Global Equity Fund.
Thereafter, and post Central Bank of Ireland (CBI) merger approval, the umbrella will also incorporate the existing Omba Moderate Risk Global Allocation Fund. This is currently a sub-fund on the Prescient Global Funds ICAV multi-manager platform, for which Northern Trust also provides custody and depositary services.
David Pierson, director of Omba, commented: “As we work to provide investors with low-cost diversified exposure to different asset classes, countries, sectors and currencies, we require an asset servicing provider with specialist Exchange Traded Fund (ETF) servicing capabilities to support our international investor base. Northern Trust has the scale, capabilities and technology to support the smooth operation of the fund and help our team meet its objectives.”
The Omba Global Thematic Fund is an actively-managed equity strategy that invests in a diversified set of equity themes through ETFs and single stocks. The Omba Global Equity Fund is a subset of equity positions in the moderate risk fund, providing investors with a diversified global equity strategy utilising country, sectoral, thematic and factor ETFs.
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Omba is supported by Prescient Fund Services (Ireland) Limited as its ICAV’s management company. Hayden Reinders, head of business development and client management at Prescient Fund Services (Ireland) Limited said: “Prescient is proud to be associated with Omba for its new Irish ICAV. We are excited to partner with Omba as they launch their platform – and with the prospect of sub-funds in the pipeline, look forward to supporting them on their growth journey.”
Clive Bellows, head of Global Fund Services, EMEA, at Northern Trust, said: “Northern Trust’s 20-year history of servicing European ETFs makes us well-placed to support the strategies of clients such as Omba while delivering the accurate reporting and safekeeping services required for day-to-day fund operations. We congratulate the Omba team on this expansion of their business.”
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