CHICAGO--(BUSINESS WIRE)--Northern Trust announced today it has been selected to provide fund accounting, fund administration, transfer agency and global custody services for Morningstar Funds Trust, a new fund complex with nine subadvised mutual funds to be launched by Morningstar Investment Management LLC, a leading provider of discretionary investment management and advisory services.
“Northern Trust’s global technology platform and mutual fund expertise make it an excellent mutual fund service provider to support our new funds,” said Daniel Needham, President and Chief Investment Officer of Morningstar Investment Management, the investment adviser to Morningstar Funds Trust. “Our strong relationship with Northern Trust allows us to focus on our active, multi-manager investment strategies while providing exceptional client service to our investors.”
“We are happy to build on our relationship with Morningstar Investment Management as they launch a new line of mutual funds,” said Dan Houlihan, head of Northern Trust Global Fund Services in North America. “Through technology innovation and talent development, Northern Trust aims to deliver a more automated, client-centered service model to the U.S. mutual fund market, and this appointment by a premier asset manager confirms our progress toward that goal.”
Northern Trust's Global Fund Services unit provides fund administration, global custody, and investment operations outsourcing solutions to more than 650 asset managers across the globe. It supports diverse fund structures across multiple domiciles and jurisdictions and has expertise in traditional and alternative investment vehicles.
Morningstar’s Investment Management group provides discretionary investment management and advisory services. As of March 31, 2018, Morningstar’s Investment Management group was responsible for $201 billion* in assets under advisement and management across North America, EMEA, and Asia-Pacific.
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 23 international locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of March 31, 2018, Northern Trust had assets under custody/administration of US$10.8 trillion, and assets under management of US$1.2 trillion. For more than 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 https://www.northerntrust.com/disclosures.
*Includes assets under management and advisement for Morningstar Investment Management LLC, Morningstar Investment Services LLC, Morningstar Investment Management Europe Ltd., Morningstar Investment Management Australia Ltd., Ibbotson Associates Japan KK, and Morningstar Investment Management South Africa (PTY) LTD all of which are subsidiaries of Morningstar, Inc. Advisory services listed are provided by one or more of these entities, which are authorized in the appropriate jurisdiction to provide such services.