Northern Trust has been appointed by Polar Capital to provide global custody, depositary, transfer agency, fund accounting and currency management-related services to its Melchior Selected Trust.
Headquartered in London, Polar Capital is a specialist, investment-led, active fund manager with £19 billion of assets under management.
Domiciled in Luxembourg, Polar Capital’s Melchior Selected Trust was launched in 2010 and comprises the Melchior Absolute Return Fund, European Opportunities Fund and Global Equity Fund.
Northern Trust has provided asset servicing solutions to Polar Capital since the company’s formation in 2001. These include fund administration and global custody services for its Ireland-domiciled Undertakings for the Collective Investment in Transferable Securities (UCITS) fund range and two funds domiciled in the US.
“Appointing Northern Trust to support the Melchior Selected Trust Funds allows us to consolidate service providers for our Luxembourg and Ireland-domiciled-funds, helping drive efficiencies while simplifying administration and reporting across our business and for our European investors,” said Gavin Rochussen, chief executive officer at Polar Capital.
“It supports our objective of maintaining performance by allowing our teams to focus on their portfolios while a best-in-class operational structure works on everything else.”