QIC, Australia’s institutional fund manager, has appointed Northern Trust to provide global custody, fund accounting, taxation and associated services for its range of Australian fund products.
This latest appointment extends Northern Trust’s existing relationship with QIC and underlines its continued focus on providing tailored solutions to fund managers and sophisticated institutional investors across Australia and New Zealand.
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QIC executive director of operations & technology Mark McDonald said: "As QIC continues to grow and diversify globally, consolidating custody services with Northern Trust, as one of the world’s largest global custodians, will assist in the provision of consistent and high-quality outcomes delivered to our clients worldwide."
In 2011, Northern Trust announced it would provide investment operations outsourcing services for QIC. In addition, Northern Trust also provides fund administration, global custody and depositary services to QIC’s Irish domiciled UCITS product.
Northern Trust head of global fund services for Asia-Pacific Peter Jordan commented: "Northern Trust is delighted to extend our relationship with QIC. As our fund manager clients continue to navigate an evolving regulatory landscape and challenging economic environment, Northern Trust looks to provide them with high quality services that support their investment management decisions but also focuses on partnering with them for the long term. Through our global operating platform we are able to deliver a streamlined and consistent experience for QIC and look forward to continuing to evolve with them as their requirements change."
Northern Trust is a full-service provider to the Australian and New Zealand market and delivers a range of solutions for institutional clients; including Australian investment accounting and tax, unit registry services, investment operations outsourcing, and specialised custody solutions.
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