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Northern Trust Appointed to Provide Asset Servicing Solutions to International Biotechnology Trust
Rhea-AI Impact
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Rhea-AI Sentiment
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Rhea-AI Summary
Northern Trust (Nasdaq: NTRS) has been appointed by the International Biotechnology Trust and SV Health Managers to provide a suite of services, including global custody, fund accounting, depositary services, and outsourced trading solutions. The International Biotechnology Trust, founded in 1994 and listed on the London Stock Exchange, has a market capitalization exceeding £255 million, focusing on long-term capital growth in biotechnology and life sciences sectors. Northern Trust aims to simplify its clients' operational complexities through its Whole Office™ approach.
Positive
Appointed as service provider for International Biotechnology Trust, enhancing its service portfolio.
Focus on high-growth biotechnology investments aligns with market trends, potentially benefiting Northern Trust's growth.
Negative
None.
Delivering Holistic Reporting, Trading and Administration Solutions for UK Investment Trust
LONDON--(BUSINESS WIRE)--
Northern Trust (Nasdaq: NTRS) has been appointed to provide global custody, fund accounting, depositary services and its outsourced trading service Integrated Trading Solutions to International Biotechnology Trust and its investment manager SV Health Managers.
Founded in 1994, International Biotechnology Trust is a United Kingdom (UK) investment trust, that, as at end of May 2022, had a market capitalisation of over £255 million. Publicly-traded on the London Stock Exchange, its objective is to achieve long-term capital growth by investing primarily in biotechnology and other life sciences companies with the potential for high growth through the development and/or commercialisation of a product, device or enabling technology.
Laurence Everitt, head of Global Fund Services, UK at Northern Trust said: “We are delighted to partner with International Biotechnology Trust and SV Health Managers in delivering the administration, execution and technology capabilities they and their investors require. Our Whole Office™ approach to working with investment managers allows us to deliver these solutions via a single platform and integrated service model – reducing business complexity for clients while helping us meet their evolving requirements.”
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 complex investment strategies across the full spectrum of asset classes.
Integrated Trading Solutions is part of Northern Trust Capital Markets, which is comprised of a number of Northern Trust entities that provide trading and execution services on behalf of institutional clients, including institutional brokerage, foreign exchange, securities lending and transition management.
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 23 locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of March 31, 2022, Northern Trust had assets under custody/administration of US$15.5 trillion, and assets under management of US$1.5 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.
What services is Northern Trust providing to International Biotechnology Trust and SV Health Managers?
Northern Trust is providing global custody, fund accounting, depositary services, and outsourced trading solutions.
What is the market capitalization of International Biotechnology Trust?
As of May 2022, International Biotechnology Trust had a market capitalization exceeding £255 million.
What is the objective of International Biotechnology Trust?
The objective is to achieve long-term capital growth by investing primarily in biotechnology and life sciences companies.
How does Northern Trust aim to reduce business complexity for its clients?
Northern Trust uses its Whole Office™ approach to deliver integrated solutions via a single platform.
What is the significance of the partnership between Northern Trust and International Biotechnology Trust?
This partnership enhances Northern Trust's service offerings and supports investment managers with comprehensive administration and execution capabilities.
