Northern Trust won the mandate to provide custody services to Oslo Pensjonsforsikring’s (OPF) $320 million global fixed income portfolio.
The fund is for employees in Oslo, Norway, or companies in which the municipality has a majority ownership interest.
“This is the first time we have used a global custodian,” says Hkon O. Wister of OPF, who says Northern Trust was selected because, “it demonstrated a consultative approach and thoroughly understood our requirements.”
“We look forward to working with both OPF and Rogge Global Partners,” says Allan Nedergaard, Northern Trust’s Nordic business development manager. “The Nordic Region is an important market for Northern Trust, and we are also astutely aware of the differences between each of the individual Nordic countries. As a result, we differentiate our approach in each to actively ensure we provide tailored solutions to meet our clients’ individual requirements.”