Northern Trust has been selected as global custodian by Japanese boutique investment manager Misaki Capital for its $600 million Cayman-domiciled fund.
The Chicago-based custodian will provide custody and foreign exchange services to the Misaki Engagement Master Fund.
“We appointed Northern Trust based on their established reputation as a leading global custodian and administrator with a worldwide presence and ability to bring us advanced global technology solutions,” said Masaki Gotoh, chief investment officer at Misaki Capital.
“Their ability to not only offer a variety of customisable solutions but support us as we evolve are key factors in their appointment.”
The Misaki Engagement Fund is a Japanese-listed equity fund that seeks to maximise absolute returns via constructive engagement with its portfolio companies.
The mandate comes off the back of a new drive by Northern Trust to expand its scope of asset classes.
“The Japanese asset management market is poised for significant growth, and we see an increasing appetite from both domestic and international investors to access Japanese markets,” added Caroline Higgins, head of global fund services, Asia-Pacific, Northern Trust.
“In particular, we are moving away from conservative asset classes towards higher yield investments, creating growth opportunities for asset managers.”
Northern Trust has made several significant appointments for its Asia-Pacific business, including David Kim as head of Asia-Pacific sales, Madeline Senior as head of the Australasia region, and Yen Leng Ong as head of South East Asia and Singapore.