Omba Investments Irish Collective Asset-management Vehicle (ICAV) has appointed Northern Trust as asset servicing provider of its umbrella fund.
Northern Trust will provide global custody depository and associated services for the US$100 million fund, which will launch two UCITS funds, the Omba Global Thematic Fund and Omba Global Equity Fund.
The Omba Global Thematic Fund is an equity strategy that invests in a set of equity themes through exchange-traded funds (ETF) and single stocks, while the Omba Global Equity Fund is a subset of equity positions in the moderate risk fund, providing investors with a global equity strategy utilising country, sectoral, thematic and factor ETFs.
The umbrella will incorporate the existing Omba Moderate Risk Global Allocation Fund. This is currently a sub-fund on the Prescient Global Funds ICAV multi-manager platform, which Northern Trust provides custody and depositary services.
Speaking on the announcement, David Pierson, director of Omba, comments: “As we work to provide investors with low-cost diversified exposure to different asset classes, countries, sectors and currencies, we require an asset servicing provider with specialist ETF servicing capabilities to support our international investor base. Northern Trust has the scale, capabilities and technology to support the operation of the fund and help our team meet its objectives.”
