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Northern Trust lands job with £22 bn fund manager

British investment manager Fundsmith is letting Northern Trust provide the fund administration and global custody services for UK-listed Smithson Investment Trust, which raised a record £822 million at its launch last October.

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Recent news, noted by Global Custodian, reveals that Northern Trust was on the train already at October’s launch of the Smithson trust.

Corporates – but not the biggest

It says the Smithson Investment Trust invests in companies with a market capitalisation between £500 million and £15 billion.

Fundsmith will also use Northern Trust’s so called Integrated Trading Solution, for outsourced trading services and integrated middle- and back-office services.

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Seeking cost-efficiency

“By delivering global trade execution, matching, and compliance reporting through Integrated Trading Solutions, Northern Trust is actively supporting our client’s commitment to delivering value and cost-efficiencies for investors,” says Guy Gibson, global head of institutional brokerage at Northern Trust Capital Markets, all according to the article.

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