Northern Trust Expands Singapore Unit Trust Servicing

KUALA LUMPUR, Sept 9 (Bernama) -- Northern Trust has expanded its Singapore unit trust offering through a relationship with Perpetual (Asia) Limited, providing investment managers with an integrated servicing solution for Singapore unit trust structures.

The solution combines Northern Trust’s custody, fund administration and middle-office outsourcing capabilities with Perpetual’s trustee services, supporting investment managers across the fund lifecycle, according to a statement.

Northern Trust Country Head of Singapore, Yen Leng Ong said the relationship expands the company’s ability to support retail Singapore unit trusts and enhances its servicing capabilities in the market.

She said the combination of Northern Trust’s asset servicing expertise and Perpetual’s trustee capabilities would provide investment managers with a scalable solution covering the fund lifecycle, as demand for Singapore’s fund industry continues to evolve.

Meanwhile, Perpetual Managing Director, Asia Pacific, Matthew Allen said the relationship enables Northern Trust to focus on the day-to-day operations of the funds while Perpetual independently fulfils its fiduciary responsibilities as trustee and safeguards unitholders’ interests.

Perpetual (Asia) Limited, part of the Perpetual Group, provides trustee and fiduciary services for Singapore unit trusts, real estate investment trusts (REITs), collective investment schemes and debt market structures.

Northern Trust provides asset servicing solutions for global investment managers, including fund administration, global custody, investment operations outsourcing and data solutions across a range of asset classes and investment strategies.

-- BERNAMA