Northern Trust has renewed and expanded its mandate with Swedish pension provider AMF Tjänstepension AB, according to a press release issued by Northern Trust.
The agreement extends a relationship of more than 20 years. Northern Trust will continue as global custodian for AMF’s pension assets and will also take on investment operations for trade services across AMF’s full portfolio. This includes both pension assets and assets held by AMF’s fund company.
Trade operations added
The expanded scope brings trade-related operational services into Northern Trust’s remit, covering AMF’s entire investment portfolio. In the announcement, AMF’s chief operating officer Christoffer Axelsson said the decision was linked to the use of trade matching services and preparation for shorter settlement cycles and changing market structures.
AMF is one of Sweden’s largest pension providers, managing occupational pensions for millions of individuals.
