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Northern Trust Press Release

 
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TwentyFour Asset Management LLP appoints Northern Trust to provide specialist administration for asset-backed securities fund

Guernsey, May 1, 2013 —

TwentyFour Asset Management LLP, an independent fixed-income specialist based in London with GB£1.7billion in assets under management, has selected Northern Trust to provide custody, fund accounting, financial reporting, compliance and company secretarial services to a new asset-backed securities fund, domiciled in Guernsey.

An asset backed security is one that derives its value and income payments from and collateralized by a specified pool of underlying assets, typically unable to be sold individually. By pooling assets into financial instruments, the risk of investing in the underlying assets is diversified. 

“This new asset-backed securities fund is just one of the many kinds of innovative fund structures suited to Guernsey’s flexible and pragmatic approach to financial regulation and highly developed professional support infrastructure,” said Paul Cutts, country head, Northern Trust Channel Islands. “As Guernsey’s largest fund administrator and custodian, Northern Trust is delighted to work with TwentyFour Asset Management, supporting them as they focus on capturing investment opportunities.”

“Northern Trust were willing to work closely with us to understand our unique requirements,” said Nick Knight-Evans, partner and chief operating officer at TwentyFour Asset Management. “Their experience in supporting other kinds of complex fund structures as well as their integrated range of asset servicing solutions, were key factors in their appointment”

Northern Trust works with some of the most successful and innovative investment managers across the globe. It offers specialist fund administration services to a variety of traditional and alternative asset classes, including private equity funds, hedge funds, real estate funds, infrastructure funds and funds of funds.

About Northern Trust

Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of investment management, asset and fund administration, banking solutions and fiduciary services for corporations, institutions and affluent individuals worldwide. Northern Trust, a financial holding company based in Chicago, has offices in 18 U.S. states and 16 international locations in North America, Europe, the Middle East and the Asia-Pacific region. As of March 31, 2013, Northern Trust had assets under custody of US$5 trillion, and assets under investment management of US$810.2 billion. For more than 120 years, Northern Trust has earned distinction as an industry leader in combining exceptional service and expertise with innovative products and technology. For more information, visit www.northerntrust.com or follow us on Twitter @NorthernTrust.

© 2013 Northern Trust Corporation. Head Office: 50 South La Salle Street, Chicago, Illinois 60603 U.S.A. Incorporated with limited liability in the U.S. Products and services provided by subsidiaries of Northern Trust Corporation may vary in different markets and are offered in accordance with local regulation. For regulatory information about individual market offices, visit northerntrust.com/disclosures.

The Northern Trust Company, London Branch, Northern Trust Global Services Limited

Northern Trust Global Investments Limited. The following information is provided to comply with Article 9(a) of The Central Bank of the UAE’s Board of Directors Resolution No 57/3/1996 Regarding the Regulation for Representative Offices:  Northern Trust Global Services Limited, Abu Dhabi Representative Office. Northern Trust Global Service Limited Luxembourg Branch, 2, rue Albert Borschette, L-1246, Luxembourg

Succursale d’une société de droit étranger RCS B129936. Northern Trust Luxembourg Management Company S.A., 2, rue Albert Borschette, L-1246, Luxembourg

Société anonyme RCS B99167. Northern Trust (Guernsey) Limited (2651)/Northern Trust Fiduciary Services (Guernsey) Limited (29806)/Northern Trust Fiduciary Company (Guernsey) Limited (46534)/Northern Trust International Fund Administration Services (Guernsey) Limited (15532) Registered Office: Trafalgar Court Les Banques, St Peter Port, Guernsey GY1 3DA.

For regulatory information about all our offices and legal entities, visit northerntrust.com/disclosures.

This material is directed to eligible counterparties, institutional investors, expert investors, professional investors and professional clients only and should not be relied upon by retail clients or retail investors.  

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