Melbourne
14 December 2016
Reporter: Stephanie Palmer

QIC extends mandate with Northern Trust


Northern Trust has been reappointed to provide global custody, fund accounting, taxation and investment operations outsourcing services for Australian fund manager QIC Limited.

The appointment has been extended for a further seven-year term, and applies to QIC’s range of fund products and discrete mandates.

QIC first started using Northern Trust for investment operations outsourcing in November 2011, and appointed it to provide global custody services in July 2015.

Northern Trust now provides asset servicing solutions for QIC products in Australia, Ireland and the US.

Mark McDonald, executive director of operations and technology at QIC, said: “As QIC expands its global footprint, choosing a partner with a global reach, consistent client service approach and robust operating platform will enable QIC to focus on delivering innovative solutions to our clients worldwide”

Peter Jordan, head of global fund services for the Asia Pacific region at Northern Trust, said: “Since 2011, Northern Trust has evolved our partnership with QIC as their requirements and product range has changed.”

“Our fund manager clients continue to require high quality services that support their core investment management activities and data requirements, whilst navigating an ever-changing economic, political and regulatory environment.”

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