LONDON, April 16, 2010 /PRNewswire/ -- Northern Trust has been named Best Administrator Over US$30 billion Assets Under Administration - Funds of Hedge Funds by HFMWeek.
Northern Trust has been recognised for its commitment to the fund of hedge funds space, where it has not only expanded relationships with its existing top-tier manager base, but also formed new relationships with several significant funds of funds managers, said HFMWeek judges, comprising HFMWeek's editor and panel of external experts.
This is the second consecutive year that Northern Trust has been recognised with an HFMWeek fund of hedge funds administrator award. In 2009, HFMWeek named Northern Trust Fund of Hedge Funds Administrator of the Year and Best Overall Hedge Fund Administrator.
There has been an increased focus on alternative asset classes over recent years and a corresponding rise in the demand for greater transparency, timely investment and regulatory reporting and compliance monitoring across the asset spectrum, said Wilson Leech, head of Northern Trust's Global Fund Services group. In response, Northern Trust has expanded its middle office services for funds of hedge funds through a series of enhancements in our online portfolio management solution - Hedge Fund Monitor. We are delighted to have won this award, which recognises solutions that provide fund of hedge funds managers with innovative tools to monitor investments and make timely decisions.
Northern Trust provides global custody and fund administration services to clients investing in a range of alternative asset classes - including hedge funds, funds of funds, real estate and private equity - as well as traditional funds. As at 31st December 2009, Northern Trust had US$82 billion of assets under administration for hedge funds and funds of hedge funds.
HFMWeek, published by Pageant Media Limited, is read by over 6,000 alternative fund managers around the world.
About Northern Trust
Northern Trust Corporation is a leading provider of investment management, asset and fund administration, banking solutions and fiduciary services for corporations, institutions and affluent individuals worldwide. Northern Trust, a financial holding company based in Chicago, has offices in 18 U.S. states and 16 international locations in North America, Europe, the Middle East and the Asia-Pacific region. As of December 31, 2009, Northern Trust had assets under custody of US$3.7 trillion, and assets under investment management of US$627.2 billion. For 120 years, Northern Trust has earned distinction as an industry leader in combining exceptional service and expertise with innovative products and technology. For more information, visit http://www.northerntrust.com.
Northern Trust Corporation, Head Office: 50 South La Salle Street, Chicago, Illinois 60603 U.S.A., incorporated with limited liability in the U.S.
The Northern Trust Company, London Branch (reg. no. BR001960), Northern Trust Global Investments Limited (reg. no. 03929218) and Northern Trust Global Services Limited (reg. no. 04795756) are authorised and regulated by the Financial Services Authority.
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IRS CIRCULAR 230 NOTICE: To the extent that this message or any attachment concerns tax matters, it is not intended to be used and cannot be used by a taxpayer for the purpose of avoiding penalties that may be imposed by law. For more information about this notice, see http://www.northerntrust.com/circular230.
SOURCE: Northern Trust Corporation
CONTACT: EMEA, Sara Murshed, +44(0)20-7982-2249, Sara_Murshed@ntrs.com, orUS, Canada APAC, John OConnell, +1-312-444-2388,John_OConnell@ntrs.com, both of Northern Trust Corporation
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