An email has been sent to your address with instructions for changing your password.
There is no user registered with this email.
Sign Up
To create a free account, please fill out the form below.
Thank you for signing up!
A confirmation email has been sent to your email address. Please check your email and follow the instructions in the message to complete the registration process. If you do not receive the email, please check your spam folder or contact us for assistance.
Welcome to our platform!
Oops!
Something went wrong while trying to create your new account. Please try again and if the problem persist, Email Us to receive support.
Omba Investments ICAV Names Northern Trust as Asset Servicing Provider for New Fund
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
Tags
Rhea-AI Summary
Northern Trust (Nasdaq: NTRS) has been appointed by Omba Investments Irish Collective Asset-management Vehicle (ICAV) to deliver global custody and depositary services for a new US$100 million UCITS umbrella fund. This fund will initially launch two funds: the Omba Global Thematic Fund and the Omba Global Equity Fund. Following Central Bank of Ireland approval, an existing fund will also merge into the umbrella structure. Northern Trust's expertise will support Omba's aim to provide diversified, low-cost investment options to high net worth clients.
Positive
Awarded contract to provide services for a new US$100 million UCITS umbrella fund.
Launching two new funds enhances Northern Trust's service portfolio.
The collaboration supports the growth ambitions of Omba Investments.
Negative
None.
Delivering Global Custody and Depositary Services to ETF Specialists Serving Family Offices, High Net Worth and Retail Investors
DUBLIN--(BUSINESS WIRE)--
Northern Trust (Nasdaq: NTRS) has been appointed by Omba Investments Irish Collective Asset-management Vehicle (ICAV) to provide global custody, depositary and associated services for its new Ireland-domiciled Undertakings for Collective Investment in Transferable Securities (UCITS) umbrella fund.
The planned US$100 millionOmba Investments ICAV (Omba) umbrella fund will launch with two new UCITS funds, the OmbaGlobal Thematic Fundand OmbaGlobal Equity Fund.
Thereafter, and post Central Bank of Ireland (CBI) merger approval, the umbrella will also incorporate the existing OmbaModerate Risk Global Allocation Fund. This iscurrently a sub-fund on the Prescient Global Funds ICAV multi-manager platform, for which Northern Trust also provides custody and depositary services.
David Pierson, director of Omba, commented:“As we work to provide investors with low-cost diversified exposure to different asset classes, countries, sectors and currencies, we require an asset servicing provider with specialist Exchange Traded Fund (ETF) servicing capabilities to support our international investor base. Northern Trust has the scale, capabilities and technology to support the smooth operation of the fund and help our team meet its objectives.”
The Omba Global Thematic Fund is an actively-managed equity strategy that invests in a diversified set of equity themes through ETFs and single stocks. The Omba Global Equity Fund is a subset of equity positions in the moderate risk fund, providing investors with a diversified global equity strategy utilising country, sectoral, thematic and factor ETFs.
Omba is supported by Prescient Fund Services (Ireland) Limited as its ICAV’s management company. Hayden Reinders, head of business development and client management at Prescient Fund Services (Ireland) Limited said: “Prescient is proud to be associated with Omba for its new Irish ICAV. We are excited to partner with Omba as they launch their platform – and with the prospect of sub-funds in the pipeline, look forward to supporting them on their growth journey.”
Clive Bellows, head of Global Fund Services, EMEA, at Northern Trust, said: “Northern Trust’s 20-year history of servicing European ETFs makes us well-placed to support the strategies of clients such as Omba while delivering the accurate reporting and safekeeping services required for day-to-day fund operations. We congratulate the Omba team on this expansion of their business.”
Northern Trust’s Global Fund Services business provides services including fund administration, global custody, investment operations outsourcing and capital market revenue enhancement solutions to global investment managers – supporting a range of complex investment strategies across the full spectrum of asset classes.
About OMBA Advisory & Investments Ltd
Omba advises and manages money for Family Offices and High Net Worth clients and are the Investment Manager to a range of UCITS funds. The firm is an ETF specialist and builds and manages globally diverse, low-cost portfolios of ETFs which are robustly managed through a transparent process to deliver value and manage costs effectively for investors. Omba launched its first Irish UCITS fund in 2019 and along with the firm winning the prestigious PAM Awards Emerging Manager 2020, Director Mark Perchtold was named one of the Private Asset Manager’s 50 most influential in wealth management in 2021 (Source: PAM Insight, 25 January 2021).
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 September 30, 2021, Northern Trust had assets under custody/administration of US$15.8 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 is the new fund launched by Northern Trust in partnership with Omba Investments?
Northern Trust is providing services for a new US$100 million UCITS umbrella fund which will launch the Omba Global Thematic Fund and the Omba Global Equity Fund.
How does the partnership with Omba Investments affect Northern Trust's business?
This partnership enhances Northern Trust's service offerings and positions it well within the growing ETF market for high net worth clients.
What services is Northern Trust providing to Omba Investments?
Northern Trust is providing global custody, depositary, and associated services for the new UCITS umbrella fund launched by Omba Investments.
When will the new funds from Omba Investments be available?
The new funds are set to launch following the approval from the Central Bank of Ireland.
