Storebrand Asset Management, the Nordic investment manager, has selected Northern Trust to provide asset servicing to its alternative investment fund and UCITS funds domiciled in Luxembourg.
Northern Trust will provide global custody, fund administration, transfer agency, depositary, and company secretarial services for the Storebrand funds in Luxembourg.
According to Storebrand, the UCITS umbrella fund will operate a number of sub-funds, which will particularly focus on Storebrand’s environmental social and governance (ESG) and selected SKAGEN value-based investment strategies.
Jan Erik Saugestad, CEO, Storebrand Asset Management, commented: “Storebrand Asset Management has led the way by investing sustainably at scale for over 20 years, but the need to address global environmental and social challenges has never been greater.”
Saugestad continued: “In Northern Trust, we have found a partner with a strong cultural fit that understands who we are—and has a local presence in the Nordic region combined with significant expertise in Luxembourg.”
Clive Bellows, head of global fund services, Europe, Middle East and Africa, Northern Trust added: “Northern Trust is increasingly supporting Nordic asset managers with their expansion plans by offering our distribution expertise across Europe’s major fund domiciles in combination with our front, middle and back-office solutions.”
“We are delighted Storebrand has selected Northern Trust to help reach its target investors around the world. Our track-record of administering all types of asset classes, of ensuring speed-to-market and supporting investment managers’ operations means we are ideally positioned to assist Storebrand as it executes its distribution strategy.”
Northern Trust has worked in the Nordic region since 1991 and first opened its Stockholm office in 2009.
