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Northern Trust Press Release

 
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Northern Trust Hedge Fund Services to Streamline Form PF Filing Process with Regulatory Module

Chicago, May 13, 2013 —

Northern Trust Hedge Fund Services has launched an online regulatory module to streamline the preparation and submission of Form PF filings. The new tool will support clients in meeting Form PF and other emerging regulatory requirements through a combination of technology, consultative support, and data aggregation and reporting services. 

The new module provides an interactive, online workflow tool for compiling, reviewing, and finalizing Form PF filings, which are intended to disclose data on holdings and risk exposures within private funds as required by the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC). Fully integrated with the Hedge Fund PassportTM application suite, the regulatory module leverages the Northern Trust Hedge Fund Services platform's single data set and powerful strategy and asset tagging capabilities to offer clients a complete and customized portfolio view.

"Form PF requires data from multiple sources, with many questions open to interpretation, making the filing process both complex and labor intensive," said Peter Sanchez, Chief Executive Officer of Northern Trust Hedge Fund Services.  "This tool leverages the power of our technology to help clients address that complexity efficiently, without sacrificing the ability to customize data around their needs."

The regulatory module presents a dynamic online version of Form PF that conforms to each client's filing structure. Users have the ability to navigate each section of the Form and view responses as they will appear in the final submission. Custom strategy and attribution tags are applied to securities and positions to help categorize holdings data, and calculation methodologies for each question can be adjusted based on the client's assumptions, with access to the underlying data supporting each calculation. Northern Trust Hedge Fund Services staff and clients will use the application as a collaborative workflow tool, streamlining the process of drafting, reviewing, and finalizing Form PF filings. 

"This new capability illustrates how technology can help clients address complex reporting challenges presented by a range of new regulatory regimes, starting with Form PF," said Jeff Boyd, Chief Operating Officer of Northern Trust Hedge Fund Services. "Regulatory requirements are putting new pressures on alternative fund managers. By approaching regulatory compliance holistically, we can alleviate much of the burden so clients can focus on investment strategy, fund performance and their clients."

Northern Trust Hedge Fund Services is the hedge fund administration business of Northern Trust Corp. (Nasdaq: NTRS). The regulatory module is part of Northern Trust's ongoing and proactive focus on supporting managers to meet evolving global regulatory requirements, such as the Alternative Investment Fund Managers Directive (AIFMD). Other initiatives by Northern Trust include enhanced analytics delivered through other fund administration and custody platforms, as well as discussion groups and roundtables dedicated to regulatory topics. 

Northern Trust is one of the world's leading asset servicing providers, offering global expertise and specialist services to investment managers and institutional investors in more than 40 countries. Northern Trust's Corporate & Institutional Services business unit is a leading global provider of asset servicing, asset management, and related services to fund managers, sovereign wealth funds, pension funds, foundations, endowments, insurance companies and government funds. Its Hedge Fund Services unit offers integrated, technology-driven middle- and back-office solutions designed to support complex investment portfolios. 

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 17 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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