Northern Trust (NASDAQ:NTRS) today announces that it is providing Sanlam Asset Management (Ireland) Limited (SAMI) with fund management, transfer agency, custody, custodian and foreign exchange services.
SAMI is an international investment management platform managing US$8.7 billion (as of 1 February 2024) of Irish-domiciled funds. Founded in 1997 in Dublin, Ireland, it is part of the Sanlam financial services group based in Bellville, Western Cape, South Africa.
It offers in-house and third-party managed funds for international investors, as well as multi-manager fund hosting capabilities for asset managers. Investors in its funds include institutional and retail clients from South Africa, the United Kingdom (UK) and other jurisdictions.
These funds are managed in conjunction with Sanlam’s London-based boutique asset management business Sanlam Investments UK, South Africa-based asset management business Sanlam Investments and independent third-party managers. They include a range of high conviction strategies including equities, fixed income and alternative asset classes.
Northern Trust now acts as the sole provider of asset servicing solutions for these funds. The appointment builds on an existing relationship between Sanlam Investments UK and Northern Trust as a trading desk client outsourced by Integrated Trading Solutions.
Richard Aslett, chief executive of SAMI said:
“North Trust’s focus on high-quality investor service and digital technology investing strongly aligns with our goals of delivering exceptional service experiences for our client base of sophisticated institutional and retail investors. We are delighted to extend a relationship that supports our focus on both the long-term growth of our clients’ investments and the strategic ambitions we have for our business.”
Clive Bellows, Head of Global Fund Services, Europe, Middle East and Africa at Northern Trust also commented:
“We are delighted to partner with SAMI to offer this comprehensive set of asset servicing solutions. Northern Trust’s global scale and investment in technology enable us to deliver the levels of service, efficiency and information our investment manager clients demand – regardless of where they or their investors are based or the types of funds they invest in invest”.