Northern Trust Asset Management has gained assets worth $13bn from 19 new clients over the fiscal year ended 31 March 2014 through its outsourced chief investment officer (OCIO) services.
The newly added clients for OCIO services through Northern Trust’s Multi-Manager Solutions group include corporate defined benefit pensions, a multi-employer pension plan, family offices and not-for-profit institutions across the US, Canada and Europe.
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With this, Multi-Manager Solutions assets have grown more than $90bn, at a time when institutional investors are raising concerns over increased complexity and constrained resources in the company’s investment programs.
Northern Trust Asset Management head of Multi-Manager Solutions Joseph McInerney said that the market is witnessing potential growth in outsourced CIO services from corporations, foundations, endowments, global family offices and health care organizations.
"From mid-sized plans to those over $1 billion in assets, institutions are looking for an outsourcing partner with deep expertise in the design and implementation of sophisticated investment programs and a fiduciary approach to the oversight of those programs," added McInerney.
Multi-Manager Solutions also has expertise in emerging manager programs, risk oversight for environmental, social and governance (ESG) factors and registered funds investing in asset classes including developed markets equities, infrastructure, emerging markets debt, and global real estate.
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By GlobalDataNorthern Trust Asset Management practice lead and senior client investment officer John McCareins, said: "A key driver of growth in outsourcing has been corporate pension plans, which seek to secure the gains they have made in funded status through ‘de-risking’ strategies, shifting from equities to fixed income investments."
