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Northern Trust Press Release


WAY Fund Managers Limited Appoints Northern Trust as Depositary and Custodian

London, May 22, 2014 —

Northern Trust (Nasdaq: NTRS) has been appointed by London and Dorset based investment manager, WAY Fund Managers Limited, to act as depositary and custodian for more than 60 funds valued at approximately US$1.9 billion.

Under the terms of the agreement, Northern Trust will support two distinct fund ranges; WAY Fund Managers and Fund Partners.

"Following a detailed review of our services we are pleased to appoint Northern Trust as depositary and custodian to a number of our funds", said Peter Hugh Smith, chief executive officer at WAY Fund Managers Limited. "Northern Trust offers market-leading depositary services, which meet our requirements and this, coupled with their significant experience in global custody, were key factors in the appointment."

"We are delighted to support WAY Fund Managers with their depositary and custody requirements," said Laurence Everitt, head of Global Fund Services UK at Northern Trust. "Northern Trust offers a range of capabilities and solutions to investment managers across the globe and has offered depositary services for more than a decade. Through our experience and global expertise we can provide WAY Fund Managers with the required fiduciary expertise and oversight."

The Alternative Investment Fund Directive (AIFMD) introduces the requirement for managers to appoint a depositary for each AIF it manages. In order to meet the requirement for depositary services Northern Trust recently announced that it had expanded its European depositary services across multiple fund types, asset classes, fund locations and investment strategies. In addition to its established services in Ireland, Luxembourg and the Channel Islands it now offers depositary services in the United Kingdom and The Netherlands.

"Regulation continues to have a significant impact on fund managers across the globe," said Alastair Hay, head of UK depositary services at Northern Trust. "We understand our clients have unique challenges and we are committed to continuing to develop and invest in our depositary services business to support our fund manager clients in complying and taking advantage of the new regulatory environment. We are pleased to be working with WAY Fund Managers as we continue the strong expansion of our UK depositary business."

In addition to custody, trustee and depositary services Northern Trust also offers fund administration, investment operations outsourcing, and ETF solutions to investment managers across the globe and across a full spectrum of asset classes. Its dedicated programme of workshops, newsletters and thought leadership provides regular updates from experts on the latest regulatory developments impacting its clients and on how Northern Trust is evolving to support their requirements.


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 states, Washington, D.C., and 18 international locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of March 31, 2014, Northern Trust had assets under custody of US$5.8 trillion, and assets under investment management of US$915.4 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.

Northern Trust Corporation, Head Office: 50 South La Salle Street, Chicago, Illinois 60603 U.S.A., incorporated with limited liability in the U.S. Global legal and regulatory information can be found at http://www.northerntrust.com/disclosures