CHICAGO--(BUSINESS WIRE)--Northern Trust has enhanced its services for defined contribution (DC) sponsors to help them more efficiently manage their custom, multi-manager funds. Using the SunGard Global Network (SGN) Funds platform, Northern Trust offers more flexibility to support trading for multi-manager white label funds for DC plans.
In order to manage risk, plan sponsors have increasingly chosen multi-manager portfolios or “white label” funds that provide diversification from the risk of using one investment manager for plan investment options. Operationally, this requires additional, connected portfolio management and trade routing capabilities for the record keeper and custodian banks. SunGard receives trades from record keepers, performs pre-defined trade splitting, and as a member of the National Securities Clearing Corporation (NSCC), sends the corresponding trades to the NSCC and fund managers.
“As our clients have increasingly chosen custom, white label funds as an option for their participants, we want to give them more flexibility,” said Tom Lauer, Defined Contribution Consultant at Northern Trust. “SunGard’s solution gives clients a broader selection of record keepers, as not all record keepers currently facilitate this process.”
“Retirement plan providers continue to operate in an environment of increasing regulatory requirements amid cost containment efforts,” said Bob Santella, president of SunGard’s global trading business. “SunGard Global Network Funds’ expanded portfolio management and trading capabilities provide an automated solution to manage custom investment options, helping to increase the capacity and efficiency of the trading process.”
About Northern Trust
Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of wealth management, asset servicing, asset management and banking to corporations, institutions, affluent families and individuals. Founded in Chicago in 1889, Northern Trust has offices in the United States in 19 states and Washington, D.C., and 20 international locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of December 31, 2014, Northern Trust had assets under custody of US$6 trillion, and assets under management of US$934 billion. For 125 years, Northern Trust has earned distinction as an industry leader for exceptional service, financial expertise, integrity and innovation. Visit northerntrust.com or follow us on Twitter @NorthernTrust.
Northern Trust Corporation, Head Office: 50 South La Salle Street, Chicago, Illinois 60603 U.S.A., incorporated with limited liability in the U.S. Global legal and regulatory information can be found at http://www.northerntrust.com/disclosures.
SunGard is one of the world’s leading software and technology services companies, with annual revenue of about $2.8 billion. SunGard provides software and processing solutions for financial services, education and the public sector. SunGard serves approximately 16,000 customers in more than 100 countries and has more than 13,000 employees. For more information, please visit www.sungard.com.
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