Nasdaq-listed Northern Trust has expanded its retail unit trust offering in Singapore through a relationship with Perpetual ( Asia ) Limited.
Together, the firms provide investment managers with access to a comprehensive servicing solution for Singapore unit trust structures, combining Northern Trust’s custody, fund administration and middle-office outsourcing capabilities with Perpetual’s trustee services.
Northern Trust provides a complete suite of asset servicing solutions for global investment managers, including fund administration, global custody, investment operations outsourcing and data solutions, supporting a range of complex investment strategies across the full spectrum of asset classes.
Perpetual, on the other hand, is a well-established provider of trustee and fiduciary services for Singapore unit trusts, real estate investment trusts, collective investment schemes and debt market structures.
"This relationship combines Northern Trust's expertise in asset servicing with Perpetual's trustee capabilities to deliver a scalable and integrated solution for investment managers,” says Yen Leng Ong, country head of Singapore at Northern Trust.
“As demand for Singapore’s fund industry continues to evolve, we are well-positioned to support both existing and new managers with the operational infrastructure and servicing capabilities required across the fund lifecycle."
Matthew Allen, managing director, Asia-Pacific, at Perpetual, adds: “The relationship brings together complementary capabilities, enabling Northern Trust to focus on the day-to-day operations of the funds while Perpetual independently fulfills its fiduciary responsibilities as trustee and safeguards the interests of unitholders. We believe this approach provides investment managers with a robust and efficient solution for Singapore unit trust structures and supports the continued growth of the market."
