Northern Trust has extended its asset servicing relationship with Morningstar Investment Management. A press release reveals that the bank will continue to support nine multi-managed registered mutual funds with a total of approximately US$5 billion in assets under management (AUM).
The partnership between Northern Trust and Morningstar has been around since 2018. Services delivered by the bank include global custody; fund accounting and administration; transfer agency; regulatory administration; credit; and securities lending. Morningstar Investment Management currently has separately managed accounts (SMAs) with US$352 billion in AUM.
