Northern Trust has been appointed to provide fund administration, depositary, global custody and trading solutions to BlueBox Asset Management’s Luxembourg-domiciled B Global Technology Fund.
BlueBox Global Technology Fund (SICAV) has grown its assets under management to more than $1 billion. The fund invests in cutting-edge technology companies that enable industry innovation, such as suppliers of semi-conductors, hardware, software and services.
In addition to Northern Trust providing fund administration, custody and depositary services to the Luxembourg SICAV, the custodian will also offer its Integrated Trading Solutions (ITS), an outsourced trading capability.
“Northern Trust demonstrated a differentiated approach to supporting BlueBox Asset Management and our investors through a superior client service experience and focused consultative engagement,” said Luis Viveros, managing director of BlueBox Asset Management.
“Throughout our due diligence process, the teams impressed us with their focus on understanding our investment and business strategy, which resulted in a mutually agreed highly efficient service and operating model to help us address current challenges and expedite our growth objectives.”
Over the past month, Northern Trust has swept up a number of asset servicing mandates across the US and Europe— albeit fairly small deals. . They have included agreements with Omba Investments, Pendal, Castelnau Group and the Asset Management Exchange.
“We are delighted to partner with this fast-growing asset manager to support their growth through the scale and scope of our global solutions suite and experienced Luxembourg team,” said Clive Bellows, head of Global Fund Services, EMEA, at Northern Trust.
“BlueBox Asset Management is a noteworthy addition to our Swiss-based asset manager client list. We look forward to working consultatively with its local team to support its strategic ambitions globally.”