Northern Trust has been selected by Woodford Investment Management (Woodford) to provide depository and custody services, as buy-side firms continue to appoint custodians to outsource their regulatory requirements.
It will also provide services such as client reporting, fund accounting and transfer agency for Woodford’s assets under management, such as the launch of its new equity income fund.
“We understand our fund managers are looking for solutions that enable them to get to market quickly and effectively and with minimal in-house operational capability, enabling them to focus on the business of managing their clients’ money,” says Toby Glaysher, head of global fund services, EMEA. Northern Trust.
As regulators continue to roll out additional requirements such as reporting, collateral and margin valuation, buy side firms will increasingly look to global custodians to manage these responsibilities.
For example, with the European Markets Infrastructure Regime (EMIR), buy-side firms have the option to delegate reporting of OTC derivatives trades to a third party provider.
“It not only worked closely with us to provide a complete solution for our middle and back office requirements, but it also provided valuable support for our fund distribution capabilities, including our relationships with dealing platforms,” adds Craig Newman, CEO, Woodford.
Woodford Investment Chooses Northern Trust For Outsourcing
Buy-side firms continue to appoint custodians to outsource their regulatory requirements.
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