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Northern Trust (NASDAQ:NTRS) announces today that it is providing Sanlam Asset Management (Ireland) Limited (SAMI) with fund administration, transfer agency, custody, depositary and FX services.

SAMI is an international investment management platform managing funds domiciled in Ireland valued at US$8.7 billion (as of 1 February 2024). Established in 1997 in Dublin, Ireland, it is part of the Sanlam financial service group headquartered in Bellville, Western Cape, South Africa.

It offers in-house and third party-managed funds for international investors along with multi-manager fund hosting capabilities for asset managers. Investors in its funds include institutional and retail clients from South Africa, the United Kingdom (UK) and other jurisdictions.

These funds are managed in conjunction with Sanlam’s London-based boutique asset management business, Sanlam Investments UK, its South African-based asset management business, Sanlam Investments and independent third-party managers. They comprise a range of high-conviction strategies encompassing equities, fixed income, and alternative asset classes.

Northern Trust is now serving as the single provider of asset servicing solutions for these funds. The appointment builds upon an existing relationship between Sanlam Investments UK and Northern Trust as a client of its Integrated Trading Solutions outsourced trading desk.

Richard Aslett, chief executive officer, SAMI said:

“Northern Trust’s focus on high-quality investor servicing and investment in digital technology aligns strongly with our objectives to deliver excellent service experiences for our client base of sophisticated institutional and retail investors. We are pleased to extend a relationship that supports our focus on both the long-term growth of our clients’ investments, and the strategic ambitions we have for our business.”

Clive Bellows, head of Global Fund Services, Europe, Middle East and Africa at Northern Trust also commented:

“We are delighted to be working with SAMI to deliver this comprehensive set of asset servicing solutions. Northern Trust’s global scale and investment in technology allow us to deliver the service levels, efficiency and information that our investment manager clients require – regardless of the locations where they or their investors are based, or the fund types in which they invest.”

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