Northern Trust has been appointed by Japan-based investment manager TriVista Capital to provide global custody and securities lending services for its two Cayman Islands-domiciled funds.
The latest mandate expands an existing relationship between the two firms and underlines an increasing demand for a broader securities finance offering in the region.
Masaki Gotoh, chief investment officer for TriVista, stated the firm’s decision to appoint Northern Trust as its securities lending provider was based on its experience on partnering with the bank for custody services, in addition to its reputation in the market.
“Throughout the process, we have been extremely impressed by the ease and speed of implementation as well as their ability to offer a variety of tailored solutions to meet our individual needs,” said Gotoh.
According to Northern Trust, the custodian has seen a three-fold increase in Asia-Pacific based clients joining its global lending programmes over the past three years.
“We’re delighted to extend our relationship with TriVista and provide securities lending services to help them maximise their risk and return objectives and optimise the value of their portfolio,” said Mark Snowdon, head of capital markets, Asia-Pacific, Northern Trust.
“Against the many hurdles asset managers face in managing portfolios today, they continue to seek the opportunity to drive additional economic value from securities lending and complementary financing solutions in enhancing portfolio performance.”
The mandate continues Northern Trust’s string of asset servicing deals signed this year. These include a global custody and fund administration mandate with Osmosis Investment Management for its new fossil fuel-free UCITS Common Contractual Fund (CCF), and a renewal with Kommunal Landspensjonskasse (KLP), Norway’s largest life insurance firm.