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Asset Servicing News

Kieger Group Names Northern Trust as Full Service Provider for Luxembourg Funds

Appointment Supports the Kieger Group’s Focus on Expanding its Range of Sustainable Solutions Aligned with Environmental, Social and Governance Criteria

Luxembourg – Northern Trust (Nasdaq: NTRS) has been selected by Switzerland-based asset manager Kieger AG and Kieger (Luxembourg) SA to provide fund administration, global custody, depositary and currency management services for their Luxembourg-domiciled funds.

Founded in 2000, Kieger manages several billion euros in fund assets focused on healthcare, sustainability, private equity and multi-asset portfolios aligned with Environmental, Social and Governance (ESG) criteria. Its Luxembourg funds are structured as Société d'investissement à Capital Variable (SICAV) and Fonds Commun de Placement (FCP) vehicles.

Matthias Mosler, chief executive officer at Kieger AG, said: “As ESG plays an increasingly important role in global investor considerations, Kieger is delighted to extend our range of sustainable solutions to assist clients in realising their growth ambitions in line with ESG criteria. With Northern Trust’s broad range of asset servicing solutions, innovative technology, reporting capabilities and expertise, we have the operational platform and partnership needed to support us in continuing to deliver first-class services to our investors”

Clive Bellows, head of Global Fund Services, Europe, Middle East and Africa at Northern Trust, said: “This appointment underscores Northern Trust’s continued commitment to the Luxembourg fund jurisdiction, which is at the heart of our growth strategy for continental Europe. By providing the full combination of asset servicing solutions, including a suite of currency management solutions to help manage and mitigate currency volatility, we are pleased to support Kieger in executing its global growth and distribution strategy.”                                                                              

Northern Trust’s presence in Luxembourg has grown steadily since it opened an office in 2004 as part of a strategic initiative that led to the establishment of Europe’s first tax-transparent pooling investment vehicle.

Northern Trust established its new European Union (EU) banking headquarters in Luxembourg in March 2019, after re-domiciling its EU bank from the United Kingdom (UK), to help ensure continuity of the financial institution’s global products and services after the UK formally leaves the European Union. The company’s 2017 acquisition of the fund administration servicing units of UBS Asset Management in Switzerland and Luxembourg has laid a foundation for strategic growth in Luxembourg, a global leader for the cross-border distribution of investment funds (Association of Luxembourg Fund Industry).

Today, Northern Trust is a top 10 fund administrator in Luxembourg (Monterey Insight Luxembourg Fund Report, 2020) and a leading fund administrator in Switzerland, providing regional capabilities supported by a global network of 25 international locations across the Americas, Asia-Pacific and EMEA.

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 22 locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of June 30, 2020, Northern Trust had assets under custody/administration of US $12.1 trillion, and assets under management of US $1.3 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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