Northern Trust has announced that it has been appointed by Stenham Asset Management, a leading global fund of hedge funds manager with US$3.5 billion in hedge fund assets under management to provide custody, fund administration, credit and foreign exchange services.
Stenham Asset Management will be using Hedge Fund Monitor™, Northern Trust’s integrated online portfolio management tool, to provide information and analytics to its hedge fund of fund portfolios. The tool will provide high levels of transparency into the performance and liquidity of Stenham Asset Management’s portfolios of hedge fund investments and is updated through an online reporting system on a daily basis.
“We appointed Northern Trust based on the experience and expertise of their personnel, as well as their ability to provide innovative and market-leading technology within the fund of hedge funds arena. We expect to make considerable productivity gains over many years through this association with Northern Trust,” said Jeremy Alun-Jones, Group Managing Director of Stenham Asset Management.
Stenham Asset Management has been active in fund management for over 25 years and provides market leading solutions for pension funds, charities, family offices and high net worth individuals, including both discretionary portfolios and funds of hedge funds. Stenham has clients across the globe – in the UK, Channel Islands, the Caribbean, Europe, South Africa, Latin America, Japan, Asia-Pacific and the Middle East.
“We are delighted to have been appointed by Stenham Asset Management,” says Toby Glaysher, head of Global Fund Services for UK, Ireland and Luxembourg. “Increasingly we are seeing fund managers looking to Northern Trust for solutions to support requirements from their investors to respond to demands for better transparency, greater control and more robust governance frameworks for their alternative investments. Our Hedge Fund Monitor product has been developed in response to client demands and designed to respond to these requirements.”
Northern Trust supports leading global hedge fund and fund of hedge funds managers through an extensive range of middle-office, fund administration, custody, banking, online data management and trade execution tools, risk analysis and reporting solutions, all supported by a global technology platform. As of 31 December 2010 Northern Trust’s hedge fund and fund of hedge funds servicing business had assets under administration of approximately US$97 billion.
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