TwentyFour Asset Management, which has £1.7 billion in assets under management, Northern Trust has appointed to provide custody, fund accounting, financial reporting, compliance and corporate secretarial services to a new asset-backed securities fund domiciled in Guernsey.
"As Guernsey's largest fund administrator and custodian, Northern Trust is delighted to work with TwentyFour Asset Management, supporting them as they focus on capturing investment opportunities," says Paul Cutts, country head for Northern Trust Channel Islands.
Nick Knight-Evans, partner and CEO at TwentyFour Asset Management, says the firm chose Northern Trust because it was willing to work closely with TwentyFour to understand its unique requirements.
"Their experience in supporting other kinds of complex fund structures as well as their integrated range of asset servicing solutions, were key factors in their appointment," Knight-Evans says.