Win-win for Northern Trust

Global custodian Northern Trust has picked up another New Zealand Superannuation Fund mandate to manage Barclay's Global Aggregate fixed income mandate.

The mandate appointed by the trustee of New Zealand Superannuation and manager of New Zealand Superannuation Fund will incorporate the fund's environmental, social, and governance exclusions through Northern Trust's international asset management arm.  

Northern Trust's chief investment officer for Europe, Middle East, Africa, and Asia Pacific, Wayne Bowers said the firm was delighted to further their relationship.

"[We] look forward to helping them obtain efficient market exposure to their designated index, whilst supporting their goals for socially responsible investing," Bowers said.

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This adds to the four passive global equity mandates awarded by the trustees to Northern Trust in 2013. Northern Trust also has a custodial relationship with the trustees and the fund since 2007.

At the same time, Northern Trust has also won a tender to undertake custody and investment administration of Mercer investment and superannuation funds in Australia.

Leader of Mercer's Investments Business in the Pacific market, Simon Eagleton, said Northern Trust's ongoing investment into technology would help improve efficiency, and enhance its risk management capabilities.

"Northern Trust will provide us with timely and comprehensive access to a richer data set than has been available to date, along with broader access to emerging markets," Eagleton said.

Northern Trust succeeds NAB Asset Servicing as the custodian.