Northern Trust (NTRS) announced today that it has been selected by Crossmark Global Investments, Inc. to provide fund accounting, fund administration, transfer agency and global custody services for its family of mutual funds, the Crossmark Steward Funds.
Located in Houston, Texas, Crossmark specializes in values-based investing strategies for clients. With approximately $1.3 billion assets under management, the Steward Funds are comprised of six values-screened mutual funds across the global equity, U.S. equity and U.S. fixed income spectrum.
“Increasing operational efficiency and reducing costs for the Steward Funds were our primary objectives in seeking a new fund services provider, but cultural alignment with our firm was equally important,” said Crossmark President and CEO Michael L. Kern, III. “Northern Trust’s reputation for financial strength and stability are well-known. In addition, through our due diligence process it became clear that Northern Trust’s vision for technological innovation and commitment to client-centric service put them in the best position to provide the proactive operational support we sought in a manner consistent with our values.”
“We are excited to add Crossmark to our client roster and look forward to supporting the Steward Funds and their values-based investment strategies,” said Ryan Burns, head of Northern Trust Global Fund Services, Americas. “Outsourcing key operational functions to a trusted provider will allow Crossmark to focus on executing its business strategy, growing assets in its funds and helping clients meet their investment goals.”
Northern Trust’s Global Fund Services business provides fund administration, global custody, depositary, investment operations outsourcing and revenue enhancement solutions to global investment managers – supporting an extensive range of complex investment strategies across the full spectrum of asset classes.
About Northern Trust
Northern Trust Corporation (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 20 U.S. states and Washington, D.C., and across 23 locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of March 31, 2019, Northern Trust had assets under custody/administration of US$10.9 trillion, and assets under management of US$1.2 trillion. For more than 125 years, Northern Trust has earned distinction as an industry leader for exceptional service, financial expertise, integrity and innovation. Visit northerntrust.com or follow us on Twitter @NorthernTrust.
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 http://www.northerntrust.com/disclosures.