Mark Mobius’ emerging market fund selects Northern Trust for asset servicing and outsourced trading

The launch of the outsourcing trading service for asset owners and asset managers made Northern Trust the first custodian to take on certain buy-side trading functions.

By Joe Parsons

Mobius Capital Partners, the emerging and frontier markets fund set up by Mark Mobius, has selected Northern Trust to provide a range of asset servicing and integrating trading solutions.

The mandate will support the fund’s London-listed Mobius Investment Trust and the Luxembourg Société d’Investissement à Capital Variable (SICAV) Mobius Emerging Markets Fund vehicle.

Northern Trust will provide custody, depository, fund accounting and FX services to the investment trust, and fund administration to the SICAV.

“Northern Trust has worked closely with us for a number of months as we launched two separate vehicles accessing our single governance orientated strategy. Together, we have built a collaborative relationship, leveraging their innovative consultative solution,” said Dr Mark Mobius, founding partner, Mobius Capital Partners.

“Northern Trust’s Integrated Trading Solutions delivers an immediate capability to address some of the significant challenges that MiFID II is posing to asset managers.”

Northern Trust recently launched its front-to-back outsourced trading service which combines its equities and fixed income trading capabilities with its access to global markets, trading venues and liquidity.

The custodian bank stated at the time of the launch the new service will help asset managers meet their best execution obligations, set out by MiFID II.

“To remain competitive in today’s increasingly regulated environment, asset managers need to drive efficiency at all points within the trade lifecycle,” said Guy Gibson, head of Institutional Brokerage for EMEA & Asia-Pacific at Northern Trust.

“By outsourcing their end-to-end trading needs to Northern Trust, Mobius Capital Partners will reduce the cost of execution, reduce risk and improve regulatory compliance.”