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Asset Servicing News

Northern Trust Appointed by BlueBox Asset Management to Provide Asset Servicing Solutions to its SICAV Fund

Fund Passes US$1 Billion in Assets Under Management

LONDON – Northern Trust (Nasdaq: NTRS) has been appointed to provide fund administration, depositary, global custody and Integrated Trading Solutions (ITS) to BlueBox Asset Management’s Luxembourg-domiciled BlueBox Global Technology Fund.

Headquartered in Geneva, Switzerland, BlueBox Asset Management was established in 2017. Its BlueBox Global Technology Fund (SICAV) has grown its assets under management to more than US$1 billion (as of 4 November 2021). The fund invests in cutting-edge technology companies that enable industry innovation, such as suppliers of semi-conductors, hardware, software and services.

Luis Viveros, managing director of BlueBox Asset Management, said: “Northern Trust demonstrated a differentiated approach to supporting BlueBox Asset Management and our investors through a superior client service experience and focused consultative engagement.  Throughout our due diligence process, the teams impressed us with their focus on understanding our investment and business strategy which resulted in a mutually agreed highly efficient service and operating model to help us address current challenges and expedite our growth objectives.”   

BlueBox Asset Management is benefiting from an end-to-end solution across its asset servicing needs via  Northern Trust Whole Office™, a strategy that facilitates client access to services, solutions and new technologies across the investment lifecycle. In addition to Northern Trust providing fund administration, custody and depositary services to the Luxembourg SICAV, Northern Trust Capital Markets is providing Integrated Trading Solutions (ITS). ITS is an outsourced trading capability that combines worldwide trading expertise in equities and fixed income with access to global markets, extensive trading locations, high-quality liquidity and an integrated middle and back office service.

William de Gale, lead portfolio manager of BlueBox Global Technology Fund, said: “Northern Trust was able to provide us a high-quality platform through which we could execute our investment strategy efficiently to help us optimise returns for our investors.  This focus on holistic solutions for our business made them a natural choice as a business partner for the next phase of growth for the firm.”

Clive Bellows, head of Global Fund Services, EMEA, at Northern Trust, said: “We are delighted to partner with this fast-growing asset manager to support their growth through the scale and scope of our global solutions suite and experienced Luxembourg team. BlueBox Asset Management is a noteworthy addition to our Swiss-based asset manager client list. We look forward to working consultatively with its local team to support its strategic ambitions globally.”

Northern Trust’s Global Fund Services business provides services including fund administration, global custody, investment operations outsourcing and capital market revenue enhancement solutions to global investment managers – supporting a range of complex investment strategies across the full spectrum of asset classes. Northern Trust Capital Markets is comprised of a number of Northern Trust entities that provide trading and execution services on behalf of institutional clients, including foreign exchange, institutional brokerage, securities lending and transition management.

About Northern Trust

Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of wealth management, asset servicing, asset management and banking to corporations, institutions, affluent families and individuals. Founded in Chicago in 1889, Northern Trust has a global presence with offices in 22 U.S. states and Washington, D.C., and across 23 locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of September 30, 2021, Northern Trust had assets under custody/administration of US$15.8 trillion, and assets under management of US$1.5 trillion. For more than 130 years, Northern Trust has earned distinction as an industry leader for exceptional service, financial expertise, integrity and innovation. Please visit our website or follow us on Twitter.

Northern Trust Corporation, Head Office: 50 South La Salle Street, Chicago, Illinois 60603 U.S.A., incorporated with limited liability in the U.S. Please read our global and regulatory information.

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