WAY Fund Managers has appointed Northern Trust as depository and custodian for more than 60 funds valued at $1.9 billion.
Northern Trust will support WAY Fund Managers and Fund Partners under the agreement.
Hugh Smith, chief executive officer at WAY Fund Managers, said: "Northern Trust offers market-leading depository services, which meet our requirements and this, coupled with their significant experience in global custody, were key factors in the appointment."
Laurence Everitt, head of global fund services UK at Northern Trust, added: “We are delighted to support WAY Fund Managers. Through our experience we can provide WAY Fund Managers with the required fiduciary expertise and oversight.”
"We are pleased to be working with WAY Fund Managers as we continue the strong expansion of our UK depository business," added Alastair Hay, head of UK depository services at Northern Trust.
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