厙惇勛圖

Home   News   Features   Interviews   Magazine Archive   Symposium   Industry Awards  
Subscribe
厙惇勛圖
Leading the Way

Global 厙惇勛圖 Finance News and Commentary
≔ Menu
厙惇勛圖
Leading the Way

Global 厙惇勛圖 Finance News and Commentary
News by section
Subscribe
⨂ Close
  1. Home
  2. Buy side news
  3. Northern Trust UK pension AUC flourishes
Buy side news

Northern Trust UK pension AUC flourishes


02 March 2020 London
Reporter: Natalie Turner

Generic business image for news article
Image: Shutterstock
Northern Trust grew its assets under custody from UK pension fund clients by more than $72 billion in 2019.

Northern Trusts institutional investor group provides services to more than 270 UK pension funds with collectively more than $851 billion in assets under custody.

According to the US bank, its growth last year was driven by new client wins and asset inflows across 20 marquee clients including both corporate and local government defined benefit (DB) pension schemes and defined contribution (DC) master trusts.

Clients serviced include DC master trusts, DB corporate schemes and funds of the UK Local Government Pension Scheme, with assets varying in size from $20 million to $60 billion.

Northern Trust was unable to disclose details on how much of this figure included assets available to lend.

As of 31 December 2019, Northern Trust had assets under custody/administration of $12.1 trillion, and assets under management of $1.2 trillion.

As todays investment environment drives change and complexity, our solutions from outsourced financial accounting and alternatives administration to middle-office services and outsourced trading support UK pension teams with their day-to-day investment activities, governance and risk management obligations, says Mark Austin, head of UK, institutional investor group at Northern Trust.

Along with new clients, Northern Trust also for the final months of last year.

The bank saw a 4 percent increase in its global securities lending revenue in Q4 2019, compared to the same period in the year prior.

Fee revenue from the banks agency lending business, which comes under the umbrella of its corporate and institutional services trust (C&IS trust) arm, hit $22.6 million in the last quarter of 2019, up from $21.7 million in Q4 2018 and $20.1 million in Q3 2019.

In its quarterly report, the bank says the revenue increase primarily reflects higher spreads over the quarter.
NO FEE, NO RISK
100% ON RETURNS If you invest in only one securities finance news source this year, make sure it is your free subscription to 厙惇勛圖 Finance Times
Advertisement
Subscribe today
Knowledge base

Companies in this article
→ Northern Trust

Explore our extensive directory to find all the essential contacts you need

Visit our directory →
Glossary terms in this article
→ Agency Lending

Discover definitions, explanations and related news articles in our glossary

Visit our glossary →