In 2005, Northern Trust had secured a mandate from Generation Investment to provide custody, investment operations outsourcing, fund accounting, transfer agency, performance measurement and client reporting across its fund range domiciled in Dublin and Delaware.
Northern Trust head of global fund services at UK Laurence Everitt said that outsourcing reduces the administrative burden of asset management, enables cost-efficiencies, and has the potential to reduce operational risk.
"More and more asset managers are seeing the benefits of outsourcing their investment operations and we are delighted that Generation continues to look to Northern Trust’s tailored and fully automated outsourcing platform to support its requirements," Everitt said.
With 20 full outsourcing clients, Northern Trust has 20 component outsourcing relationships in Europe, North America and Asia-Pacific.