LONDON & CHICAGO--(BUSINESS WIRE)--
US$37.4bn AUM Pzena Expands Relationship with Northern Trust
Northern Trust (NTRS) announces it has been selected by investment manager Pzena Investment Management (Pzena) as fund administrator and global asset servicing provider for its Undertakings for Collective Investment in Transferable Securities (UCITS) funds.
The appointment extends Northern Trust’s long-standing relationship with Pzena’s US$37.4 billion assets under management (as of 30 June 2019) – now servicing its funds domiciled in the US, Ireland and Australia – as well as supporting its worldwide investors, fund distribution strategies and strategic plans for future expansion.
Evan Fire, Principal, Chief Information and Operations Officer and Chief Information Security Officer, Pzena Investment Management, comments: “As Pzena further extends its product range and distributes funds into new markets, the business continues to grow in size and complexity. In Northern Trust, we have a global strategic asset servicing partner in place with the expertise, technology and scale to support our plans as we expand. This relationship also helps us focus more closely on our specialism of long-term value investing and on exceeding our investors’ client service requirements.”
Clive Bellows, head of Global Fund Services, Europe, Middle East and Africa, Northern Trust, adds: “As Pzena has evolved into a global investment house over the past decade, our teams have supported their thoughtful approach to equity investing, fund distribution and investor servicing. We are delighted to extend our relationship – working in partnership with Pzena to support it in executing its strategic plans.”
With offices in New York, London and Melbourne, Pzena employs an equity value-investment approach across fund products including Australian trusts, US mutual funds, Collective Investment Trusts and UCITS funds.
Northern Trust’s Global Fund Services business provides services including fund administration, global custody, 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