Northern Trust has been named Best Administrator Over US$30 billion Assets Under Administration Funds of Hedge Funds by HFMWeek.
Northern Trust has been recognised for its commitment to the fund of hedge funds space, where it has not only expanded relationships with its existing top-tier manager base, but also formed new relationships with several significant funds of funds managers, says HFMWeek judges, comprising HFMWeeks editor and panel of external experts
This is the second consecutive year that Northern Trust has been recognised with an HFMWeek fund of hedge funds administrator award. In 2009, HFMWeek named Northern Trust Fund of Hedge Funds Administrator of the Year and Best Overall Hedge Fund Administrator.
There has been an increased focus on alternative asset classes over recent years and a corresponding rise in the demand for greater transparency, timely investment and regulatory reporting and compliance monitoring across the asset spectrum, says Wilson Leech, head of Northern Trusts Global Fund Services group. In response, Northern Trust has expanded its middle office services for funds of hedge funds through a series of enhancements in our online portfolio management solution Hedge Fund Monitor. We are delighted to have won this award, which recognises solutions that provide fund of hedge funds managers with innovative tools to monitor investments and make timely decisions.
Northern Trust provides global custody and fund administration services to clients investing in a range of alternative asset classes including hedge funds, funds of funds, real estate and private equity as well as traditional funds. As at 31st December 2009, Northern Trust had US$82 billion of assets under administration for hedge funds and funds of hedge funds.
HFM Week, published by Pageant Media Limited, is read by over 6,000 alternative fund managers around the world.
D.C.