Polar Capital appoints Northern Trust to provide asset management solutions to its Melchior Selected Trust

LONDON–(BUSINESS WIRE)–Northern Trust (Nasdaq: NTRS) today announced that it has been appointed by polar capital to provide global custody, depositary, transfer agency, fund accounting and currency management services to its Melchior Selected Trust.

Based in London, Polar Capital is an active, specialist and investment-focused fund manager, with £19 billion in assets under management (as of 30 June 2022). It currently has 15 stand-alone investment teams in the UK, France, Spain, Germany, Switzerland, United States (US) and China managing specialist, active and capacity-constrained portfolios.

Domiciled in Luxembourg, Polar Capital’s Melchior Selected Trust was launched in 2010 and includes the Melchior Absolute Return Fund, the European Opportunities Fund and the Global Equity Fund. All are structured under a Société d’Investissement à Capital Variable (SICAV), umbrella fund, with assets under management collectively of £812 million (as of 31 August 2022)

Northern Trust has provided asset management solutions to Polar Capital since the company was founded in 2001. These include fund administration and global custodial services for its range of mutual funds securities (UCITS) domiciled in Ireland and two funds domiciled in the United States.

Gavin Rochussen, CEO of Polar Capital, comments“The appointment of Northern Trust to support the Melchior Selected Trust Funds allows us to consolidate service providers for our Luxembourg and Irish domiciled funds, helping to increase efficiency while simplifying administration and reporting across the board. our whole company and for our European investors. It supports our goal of maintaining performance by allowing our teams to focus on their portfolios while a best-in-class operational structure works on everything else.

Clive Bellows, Head of Global Fund Services, Europe, Middle East and Africa, Northern Trust, said“We are delighted to extend our relationship with Polar Capital in Luxembourg and to support the management and distribution of its funds through our investor servicing, reporting and execution solutions. Our global operating model helps generate economies of scale for asset managers and provide a consistent service experience to their teams and investors, regardless of their location or that of their funds.

Northern Trust’s Global Fund Services business provides services including fund administration, global custody, investment operations outsourcing and data solutions to global investment managers – supporting a range of strategies complex investment solutions across all asset classes.

Note: source from Polar Capital assets under management figures: polarcapital.co.uk

About Northern Trust

Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of wealth management, asset servicing, asset management and banking services to businesses, institutions, affluent families and individuals. Founded in Chicago in 1889, Northern Trust has a global presence with offices in 23 US states and Washington, DC, and 23 locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of June 30, 2022, Northern Trust had assets under custody/administration of US$13.7 trillion and assets under management of US$1.3 trillion. For over 130 years, Northern Trust has distinguished itself as an industry leader for its exceptional service, financial expertise, integrity and innovation. Visit us at northtrust.com. follow us on Twitter @NorthernTrust or Northern Trust Corporation on LinkedIn. Not all products, services or funds mentioned herein are available in all jurisdictions.

Northern Trust Corporation, Head Office: 50 South La Salle Street, Chicago, Illinois 60603 USA, incorporated with limited liability in the USA Global legal and regulatory information can be found at https://www.northerntrust.com/terms -and-conditions.