Northern Trust wins Australian fund mandate

Fund manager QIC has chosen Northern Trust to provide global custody, fund accounting, taxation and associated services for its range of Australian fund products.

This appointment is an extension of the two firm's existing relationship. From 2011, Northern Trust has provided investment operations outsourcing services for QIC and the custodian also already provides services for the managers Irish-domiciled Ucits product.

“As QIC continues to grow and diversify globally, consolidating custody services with Northern Trust, as one of the world’s largest global custodians, will assist in the provision of consistent and high-quality outcomes delivered to our clients worldwide,” said Mark McDonald, QIC’s executive director of operations and technology.

Northern Trust says it has a continuing focus on providing tailored solutions to fund managers and investors across Australia and New Zealand.

“Northern Trust looks to provide [fund managers] with high-quality services that support their investment management decisions but also focuses on partnering with them for the long term," said Peter Jordan, head of global fund services for Asia-Pacific at Northern Trust. 

"Through our global operating platform we are able to deliver a streamlined and consistent experience for QIC and look forward to continuing to evolve with them as their requirements change.”