Northern Trust has extended its relationship with Driehaus Capital Management and its affiliated family of mutual funds following its new appointment as fund administrator.
As fund administrator, Northern Trust will provide fund accounting, fund administration, regulatory administration, transfer agency and global custody services to the Driehaus Mutual Funds.
Northern Trust was appointed in 2009 to provide global custody and related services to Driehaus entities, including the Driehaus Mutual Funds and The Richard H. Driehaus Foundation.
According to Bob Kurinsky, chief operating and financial officer of Driehaus Capital Management and treasurer of the Driehaus Mutual Funds, the Northern Trust team allowed them to “successfully consolidate” multiple service provider relationships into a single provider model.
“Through the combination of administration, fund accounting, transfer agency and custody with Northern Trust, we were able to reduce operational risk and further scale expenses to the benefit of our shareholders,” said Kurinsky.
Ryan Burns, head of global fund services, Americas at Northern Trust, added: “As a fund services provider, we support the asset manager’s whole office by delivering scale, efficiency, and flexibility across the investment lifecycle. Our aim is to continually build on our support, and to grow along with our clients.”
