Northern Trust Wins Mutual Fund Custody Mandate

Northern Trust has won a custody mandate for investment advisor Williams Capital Management, which will also include fund administration and transfer agency services.

Williams Capital Management, a wholly-owned subsidiary of The Williams Capital Group, offers a 2a-7 government money market mutual fund, cash management and short-term fixed income investment strategies in managed accounts. The 2a-7 fund has net assets valued at over $770 million, and the mandate extends Northern Trust’s existing relationship with the parent company in regards to investment banking services.

“Northern Trust demonstrates a level of expertise, passion and commitment to its clients that stands out in this industry,” says Christopher Williams, president of Williams Capital Management. “Consolidating our fund services on Northern Trust’s global platform will allow us to achieve efficiencies and receive strategic support as we continue to grow our mutual fund business.”

“This opportunity represents a deepening of a good relationship with Williams Capital, and we look forward to providing a full array of services for their mutual funds,” says Dan Houlihan, head of Global Fund Services in the Americas for Northern Trust. “As a global player, Northern Trust makes sense to asset managers looking for a single strategic platform to advance their business across domiciles and products.”