Northern Trust submits exemptive relief applications for ETF Share Class
12 June 2026 US
Image: Angelov/stock.adobe.com
Northern Trust has announced its formal application for exemptive relief to offer exchange traded fund (ETF) share classes alongside existing mutual fund share classes for certain adviser series within its two sponsored series trusts: Advisers Investment Trust and Datum One Series Trust.
While subject to regulatory approval, the ability to pursue ETF share classes alongside mutual fund share classes in a single fund creates additional options for asset managers as they consider changes to their product line-up, distribution strategies, and the benefits to fund shareholders.
The firm says filing these applications demonstrates its commitment to providing asset managers with flexibility to meet the evolving preferences of their investors.
Multiple series trusts are used by unaffiliated asset managers to operate registered investment funds under a shared governance and operational framework.
By supporting both mutual funds and ETFs within the same trust structure, asset managers can pursue different fund formats while operating within an established regulatory and administrative environment.
Phil Nanof, head of ETF Services, Americas at Northern Trust, notes: “This capability would extend our ETF servicing framework within the multiple series trust model and reflects our focus on supporting asset managers as they consider a wider range of fund structures.”
Barbara Nelligan, head of service and strategy enablement, Global Fund Services, Northern Trust, adds: “Choosing a trust structure is a long-term operating decision for asset managers. This capability is intended to provide flexibility as asset managers assess how ETFs may fit into their broader distribution and product strategies, including the potential addition of ETF share classes to existing funds.”
While subject to regulatory approval, the ability to pursue ETF share classes alongside mutual fund share classes in a single fund creates additional options for asset managers as they consider changes to their product line-up, distribution strategies, and the benefits to fund shareholders.
The firm says filing these applications demonstrates its commitment to providing asset managers with flexibility to meet the evolving preferences of their investors.
Multiple series trusts are used by unaffiliated asset managers to operate registered investment funds under a shared governance and operational framework.
By supporting both mutual funds and ETFs within the same trust structure, asset managers can pursue different fund formats while operating within an established regulatory and administrative environment.
Phil Nanof, head of ETF Services, Americas at Northern Trust, notes: “This capability would extend our ETF servicing framework within the multiple series trust model and reflects our focus on supporting asset managers as they consider a wider range of fund structures.”
Barbara Nelligan, head of service and strategy enablement, Global Fund Services, Northern Trust, adds: “Choosing a trust structure is a long-term operating decision for asset managers. This capability is intended to provide flexibility as asset managers assess how ETFs may fit into their broader distribution and product strategies, including the potential addition of ETF share classes to existing funds.”
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