Source: Northern Trust
Northern Trust has been selected to provide fund accounting, trade execution and custody services for the recently launched Legal & General Multi Manager Unit Trust range, with assets totaling approximately GBP 380 million pounds Sterling (US$757 million).
"Northern Trust's expertise and experience in supporting different types of performance fee structures contributed to our being awarded this innovative mandate, as well as our strong reputation in U.K. fund-of-funds administration. We are delighted to have been chosen by Legal & General to support its new Multi Manager venture, which is managed by its Wealth Management division," said Toby Glaysher, head of Northern Trust's U.K. Global Fund Services business.