Northern Trust targets mutual fund automation

Northern Trust will partner with Donnelly Financial Solutions to increase automation of data required under SEC rules.
By Paul Walsh
Northern Trust has partnered with Donnelley Financial Solutions to provide greater automation for its fund administration clients.

As part of the partnership Northern Trust will use Donnelley’s ArcFiling offering in a bid to increase automation of collection, creation and review of disclosure documents required under SEC regulations.

“With the ArcFiling tool, we will be able to streamline automated and efficient filing processes for our clients,” said Dan Houlihan, head of Americas Global Fund Services at Northern Trust.

“This allows our clients to focus on the liquidity risk management programmes for their funds.”

Under SEC reporting modernisation rules, mutual funds are required to submit the N-PORT and N-CEN forms.

The rules demand US mutual funds and other registered investment funds to increase the volume and frequency of data collected as well as modernise data collection methods.

The data reporting rules are set to come into force in 2018 alongside liquidity management rules.

“We are very pleased to have the opportunity to meet the SEC modernisation filing requirements of Northern Trust and its mutual fund clients,” said Eric Johnson, president of global investment markets at Donnelley Financial Solutions.

“Our ArcFiling solution is designed to make it easier and more efficient for administrators and funds to manage the significant, monthly volume that N-PORT will introduce.”