Northern Trust Wins Canadian Mandate

Canada-based Nunavut Trust has selected Northern Trust to serve as global custodian for its C$1.6 billion in assets.

The Nunavut Trust was established in 1990 to manage, on behalf of the beneficiaries, capital transfers paid to the Inuit of Nunavut as laid out in the Nunavut Land Claims Agreement signed by the Inuit of Nunavut and the Government of Canada.

Northern Trust will also provide cash management, securities lending, ex-ante predictive risk analytics, foreign exchange, class action processing, and alternative asset accounting services to the Trust.

“Northern Trust’s advanced technology platform and the expertise needed to account and report on alternative assets were some of the key differentiators for us,” said Fern Elliott, CEO of Nunavut Trust. “In addition, enhanced, customizable reporting capabilities will give us the opportunity to efficiently and effectively analyse our investment data. We look forward to working with a firm committed to serving the Canadian market and to delivering a broad spectrum of high-quality services, customized options and ever-improving technology.”