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Unlocking the Value of the UK Funds Industry

Ideas for using the power of digitalisation to drive efficiencies and investment in UK funds.

Earlier this year, HM Treasury launched a consultation on the United Kingdom’s funds industry, requesting proposals for how the UK could continue to grow its asset management industry, support jobs and help investors meet their goals.

As one of the UK’s foremost providers of asset servicing solutions to investment funds, Northern Trust welcomed the opportunity to respond to the consultation.

Our response highlighted our belief that asset management is undergoing a transformation in which digital technology will disrupt both fund manufacturing and distribution. Embracing this change offers the prospect of driving significant new efficiencies across UK funds while driving cohesion reducing complexity for UK and international investors.

At Northern Trust, we aim to share our perspectives with clients and partners as part as part of our remit to help them meet the challenges they face today and position their organisations for the future. Our role in helping administer more than 600 UK-domiciled funds provides us with an asset servicing lens of the industry through which we gain a clear view of the trends impacting our clients and their investors.

Against that backdrop, this paper therefore highlights key aspects of our consultation response and expands upon our thinking. It presents three key ideas for your consideration on how we believe digital technology can be used help drive positive, long-term change for UK funds.

If you would like to contact me and the Northern Trust team to further discuss these ideas, please get in touch.

 

Laurence Everitt

Head of Global Fund Services, United Kingdom
Laurence Everitt is the Head of Global Fund Services in the UK, which provides global custody, depositary, fund administration and investment operations outsourcing services to asset management clients of the bank. He is also a member of the EMEA Executive Management Committee (“EMC”).

  

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© 2021 Northern Trust Corporation. Head Office: 50 South La Salle Street, Chicago, Illinois 60603 U.S.A. Incorporated with limited liability as an Illinois corporation under number 0014019. Products and services provided by subsidiaries of Northern Trust Corporation may vary in different markets and are offered in accordance with local regulation. This material is directed to professional clients only and is not intended for retail clients. For Asia-Pacific markets, it is directed to expert, institutional, professional and wholesale clients or investors only and should not be relied upon by retail clients or investors. For legal and regulatory information about our offices and legal entities, visit northerntrust.com/disclosures. The following information is provided to comply with local disclosure requirements: The Northern Trust Company, London Branch, Northern Trust Global Investments Limited, Northern Trust Securities LLP and Northern Trust Investor Services Limited, 50 Bank Street, London E14 5NT. Northern Trust Global Services SE, 10 rue du Château d’Eau, L-3364 Leudelange, Grand-Duché de Luxembourg, incorporated with limited liability in Luxembourg at the RCS under number B232281; Northern Trust Global Services SE UK Branch, 50 Bank Street, London E14 5NT; Northern Trust Global Services SE Sweden Bankfilial, Ingmar Bergmans gata 4, 1st Floor, 114 34 Stockholm, Sweden; Northern Trust Global Services SE Netherlands Branch, Viñoly 7th floor, Claude Debussylaan 18 A, 1082 MD Amsterdam; Northern Trust Global Services SE Abu Dhabi Branch, registration Number 000000519 licenced by ADGM under FSRA # 160018; Northern Trust Global Services SE Norway Branch, 3rd Floor, Haakon VII's Gate 6, 0161 Oslo, Norway; Northern Trust Global Services SE, Leudelange, Luxembourg, Zweigniederlassung Basel is a branch of Northern Trust Global Services SE (itself authorised by the ECB and subject to the prudential supervision of the ECB and the CSSF). The Branch has its registered office at Aeschenplatz 6, 4052, Basel, Switzerland, and is authorised and regulated by the Swiss Financial Market Supervisory Authority FINMA. The Northern Trust Company Saudi Arabia, PO Box 7508, Level 20, Kingdom Tower, Al Urubah Road, Olaya District, Riyadh, Kingdom of Saudi Arabia 11214-9597, a Saudi Joint Stock Company – Capital 52 million SAR. Regulated and Authorised by the Capital Market Authority License # 12163-26 CR 1010366439. Northern Trust (Guernsey) Limited (2651)/Northern Trust Fiduciary Services (Guernsey) Limited (29806)/Northern Trust International Fund Administration Services (Guernsey) Limited (15532) Registered Office: Trafalgar Court, Les Banques, St Peter Port, Guernsey GY1 3DA. Northern Trust International Fund Administration Services (Ireland) Limited (160579) / Northern Trust Fiduciary Services (Ireland) Limited (161386),  Registered Office: Georges Court, 54-62 Townsend Street, Dublin 2, D02 R156, Ireland.