Northern Trust selected by Smithson for asset servicing solutions
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Northern Trust selected by Smithson for asset servicing solutions 16 May 2019London Reporter: Jenna Lomax
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Fundsmith has selected Northern Trust to provide fund administration, depositary and global custody services for the Smithson Investment Trust.
It is also utilising Northern Trust’s outsourced trading capability, Integrated Trading Solutions, which combines worldwide trading services for equities and fixed income with access to global markets, trading locations, high-quality liquidity and an integrated middle and back office services.
Simon Godwin, CFO at Fundsmith, commented: “Outsourcing trading activities across our funds to a trusted and expert provider supports Fundsmith’s focus on delivering first-class investment analysis, portfolio management and customer care.”
Guy Gibson, global head of institutional brokerage at Northern Trust Capital Markets, said: “By delivering global trade execution, matching, and compliance reporting through Integrated Trading Solutions, Northern Trust is actively supporting our client’s commitment to delivering value and cost-efficiencies for investors.”
He added: “Our trade execution middle office solution is helping the Fundsmith team free-up capital and resources, while allowing them to exercise the high levels of oversight and governance that they and their investors demand.”
Laurence Everitt, head of global fund services, UK at Northern Trust, commented: “Northern Trust has a comprehensive range of asset servicing and trading solutions available to support Fundsmith’s requirements as they grow and evolve. We are delighted to have this opportunity to build on our partnership together.”
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