Northern Trust announced it has been appointed by Warwickshire Pension Fund, a UK Local Government Pension Scheme (LGPS) with approximately £3.6 billion in pension assets (approximately US$4.8 billion), to provide global custody, valuation reporting, capital call execution and performance measurement services.
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Warwickshire Pension Fund is one of 18 partner funds within the Border to Coast Pensions Partnership, one of the largest LGPS pools by AUM in the UK. Northern Trust’s appointment comes as LGPS funds continue to adapt their operating models in response to the UK government’s Fit for the Future agenda, including expectations around asset pooling, governance, private market investing and closer alignment between administering authorities and pools. Northern Trust will support Warwickshire Pension Fund with asset servicing capabilities that bring custody data, reporting and performance information together helping support the Fund’s evolving requirements.
“Warwickshire Pension Fund sought a provider with the expertise and operating model to support its long-term strategic objectives,” said Ian Hamilton, head of Asset Owners, EMEA, at Northern Trust. “At a time of meaningful change for the LGPS sector, funds are balancing day-to-day stewardship with the need to adapt for the years ahead. We look forward to supporting the Fund with a range of asset servicing solutions, leveraging our experience in the sector to help them navigate the continued evolution of the LGPS landscape.”
For many decades, Northern Trust has been dedicated to serving the needs of global asset owners. The goal within the asset owner segment is to empower the missions of its clients, supporting their investment and operational objectives, so that they may serve their fund members and their communities.
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