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June 12, 2020updated 26 Jun 2020 7:57am

Northern Trust rolls out second distribution trust for asset managers

Northern Trust has introduced a second series trust solution, named Datum, that supports asset managers’ distribution and investment goals.

Dubbed Datum One Series Trust, the Northern Trust product will enable advisers and investment managers to expand product distribution and deliver investment strategies through 1940’s Act mutual funds.

The Datum One Series Trust will be available to all SEC-registered investment managers who seek to access to the US mutual fund market.

It follows the launch of Advisers Investment Trust in 2011. The trust allows managers to distribute funds utilising Northern Trust’s infrastructure and back-office services.

As of May 2020, it has grown to $18bn in assets.

Northern Trust global fund services head for North America Ryan Burns said: “Our clients value our superior client service and flexibility as their products expand and new distribution channels are explored.

“Creating a second series trust solution increases our capacity to help clients get to market faster in support of their business goals.”

A series trust is a registered investment company (RIC) filed with the US Securities and Exchange Commission.

Within a single trust, unaffiliated registered investment advisers can manage separate portfolios.

Founded in 1889, Northern Trust provides wealth management, asset servicing, asset management and banking services.

As of 31 March 2020, the company had assets under custody/administration of $10.9trn and $1.1trn in assets under management.

Last month, Northern Trust entered into a strategic partnership with BlackRock.

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