Northern Trust has been selected as custodian to investment advisory company Summit Investment Partners’ Apex Series and Pinnacle Series mutual funds.
Summit Mutual Funds has appointed Northern Trust’s Global Fund Services Practice to provide global custody, foreign exchange, securities lending and cash management services to its Apex Series and Pinnacle Series mutual funds. Summit Investment Partners is the investment adviser for Summit Mutual Funds and manages over U.S.$5 billion in investments for insurance companies, pension funds, foundations, endowments and both domestic and international mutual funds.
“Northern Trust’s Global Fund Services Practice looks forward to a long partnership with Summit Investment Partners and their family of funds. We are very pleased to have been awarded this important mandate and to have earned the trust of this nationally recognized and respected investment advisor,” says Peter Lambesis, Vice President of Northern Trust Global Fund Services Practice.
“We were very impressed with Northern Trust’s operational and technical capabilities,” stated Tom Knipper, CPA, Treasurer and Controller of Summit Mutual Funds. “We were looking for a partner that could accommodate a growing fund family like our own.”