LONDON--(BUSINESS WIRE)--Northern Trust (Nasdaq: NTRS) today announced it has been appointed by Hermes Investment Management to provide Foreign Exchange (FX) currency management services for its Irish fund range.
Northern Trust’s comprehensive currency management suite comprises portfolio overlay, share class hedging and ‘look through’ hedging solutions to help asset managers and asset owners manage and mitigate currency volatility, while actively supporting distribution strategies. Currency management’s scalable integrated operating and technology model delivers active monitoring against target hedge ratios, unrealized P&L views, real time performance attribution analytics and detailed transparency and oversight dashboards.
Ian Kennedy, chief operating officer, Hermes Investment Management, said: “Northern Trust have been able to automate our sophisticated currency management investment process and deliver comprehensive reporting and analytics for us. This has increased operational efficiency and enhanced oversight across our substantive Irish fund range. All of our currency management requirements have been seamlessly integrated with Northern Trust’s investment operations outsourcing services to provide a comprehensive solution, allowing us to continue to focus on generating value for our investors.”
Clive Bellows, head of Global Fund Services, Europe, Middle East and Africa, Northern Trust, said: “We are delighted to have partnered with Hermes, a long-term client of Northern Trust, to develop this tailored solution. The currency management service we have implemented to meet Hermes’ precise investment objectives is underpinned by robust process, superior technology, transparency and an interactive reporting and monitoring suite.”
In addition to investment operations outsourcing services, Northern Trust provides a range of asset servicing solutions to Hermes, including fund administration, global custody, collateral management, performance measurement and regulatory reporting.
Northern Trust Global Foreign Exchange, part of Northern Trust Capital Markets, provides a range of liquidity, trading, transparency and outsourced FX solutions for institutional investors. Northern Trust Capital Markets provides brokerage, securities lending and transition management services, in addition to FX. It is a division of Corporate & Institutional Services, which provides asset servicing, fund administration and middle office and revenue enhancement solutions to institutional asset managers and asset owners around the globe.
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 a global presence with offices in 20 U.S. states and Washington, D.C., and across 23 locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of March 31, 2019, Northern Trust had assets under custody/administration of US$10.9 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 http://www.northerntrust.com/disclosures.