Nest appoints Northern Trust as Fund Administrator and Custodian - Seite 2
Notes to editors
The current fund administrator contract expires in October 2025. Nest will work with Northern Trust to ensure all key services are transferred across ahead of this date, giving Nest time to test the transition has been successful.
Services included within the contract:
- Custody
- Asset allocation and rebalancing
- Performance measurement
- Compliance monitoring
- Investment Tax
- Securities lending
- Securities class actions
- Financial accounting and reporting
- Data management (platform)
About Nest
Nest was set up to ensure every UK employer could offer a workplace pension to their employees. Since then, it’s grown to become the largest workplace pension scheme in the country with 13 million members and is set to be the largest by AUM - by the end of the decade Nest is expected to have around £100bn assets under management.
Nest wants to deliver the best retirement income for its members, and has in place an award-winning investment strategy with one of the most diversified DC portfolios in the UK. It continues to expand its investable universe, including into private markets which have typically been out of reach for the average UK worker.
About Northern Trust
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Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of wealth management, asset servicing, asset management and banking to corporations, institutions, affluent families and individuals. Founded in Chicago in 1889, Northern Trust has a global presence with offices in 24 U.S. states and Washington, D.C., and across 22 locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of March 31, 2024, Northern Trust had assets under custody/administration of US$16.5 trillion, and assets under management of US$1.5 trillion. For more than 130 years, Northern Trust has earned distinction as an industry leader for exceptional service, financial expertise, integrity and innovation. Visit us on northerntrust.com. Follow us on X (formerly Twitter) @NorthernTrust or Northern Trust Corporation on LinkedIn.
Northern Trust Corporation, Head Office: 50 South La Salle Street, Chicago, Illinois 60603 U.S.A., incorporated with limited liability in the U.S. Global legal and regulatory information can be found at https://www.northerntrust.com/terms-and-conditions.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240513617155/en/
The Northern Trust Stock at the time of publication of the news with a fall of -0,62 % to 80,00EUR on Tradegate stock exchange (13. Mai 2024, 12:37 Uhr).