Forestry mandate nabbed by Northern Trust
07 January 2014 Toronto
Image: Shutterstock
Northern Trust has snapped up a forestry pension plan mandate originally maintained by RBC Investor Services.
The IWA Forest Industry Pension Plan has named Northern Trust as global custodian for the C$3.1 billion pension fund serving nearly 70,000 members of Canada's forest industry.
As custodian of the assets, Northern Trust will also provide investment accounting, securities lending, compliance monitoring and performance services to the plan.
"Superior technology and expertise in alternative assets were key reasons for our selection of Northern Trust," said Colleen Troelstrup, director of investments for the IWA Forest Industry Pension Plan.
"Improved risk and performance analytics as well as user friendly presentation will enable enhanced reporting and more efficient internal processes. In addition, Northern Trust supports our expanding allocation to alternative investments with experienced staff and market-leading tools to monitor and manage a range of asset classes."
The IWA Forest Industry Pension Plan is jointly funded by approximately 400 participating companies and close to 70,000 members. The administration of the plan is overseen by a board of trustees equally representing the United Steelworkers (formerly I.W.A. Canada) and forest industry employers.
The IWA Forest Industry Pension Plan has named Northern Trust as global custodian for the C$3.1 billion pension fund serving nearly 70,000 members of Canada's forest industry.
As custodian of the assets, Northern Trust will also provide investment accounting, securities lending, compliance monitoring and performance services to the plan.
"Superior technology and expertise in alternative assets were key reasons for our selection of Northern Trust," said Colleen Troelstrup, director of investments for the IWA Forest Industry Pension Plan.
"Improved risk and performance analytics as well as user friendly presentation will enable enhanced reporting and more efficient internal processes. In addition, Northern Trust supports our expanding allocation to alternative investments with experienced staff and market-leading tools to monitor and manage a range of asset classes."
The IWA Forest Industry Pension Plan is jointly funded by approximately 400 participating companies and close to 70,000 members. The administration of the plan is overseen by a board of trustees equally representing the United Steelworkers (formerly I.W.A. Canada) and forest industry employers.
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