Northern Trust has been chosen to provide global custody services, fund accounting and fund administration to GuideStone Funds, an asset manager and financial advisor for evangelical Christian churches.
GuideStone Funds has 26 registered mutual funds with $11.6 billion in assets under management (AUM), as of 30 June.
Texas-based GuideStone Funds is a subsidiary of GuideStone Financial Resources, a financial service providing retirement, investment and life and health plans to evangelical Christian churches, educational institutions and ministry organisations.
“Northern Trust’s mutual fund expertise and dedicated client service, combined with an industry-leading global technology platform, will provide strong support for our investment strategies as well as our objectives,” said John Jones, president of GuideStone Funds.
Dan Houlihan, head of Northern Trust global fund services in North America, added: "GuideStone is a large, complex and mission-driven asset manager, and their selection of Northern Trust validates our efforts to develop new technologies and recruit top talent to deliver a more automated, client-centred service model to the US mutual fund market.”
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