Northern Trust extends QIC mandate

Major custodian, Northern Trust has extended its mandate with QIC Limited.

QIC announced today that it had appointed Northern Trust to provide global custody, fund accounting, taxation and associated services for its range of Australian fund products in what represents an extension of the custodian’s existing relationship with the Queensland institution.

Confirming the arrangement, QIC executive director of operations and technology, Mark McDonald said consolidating custody services with Northern Trust would assist in the provision of consistent and high-quality outcomes.

Northern Trust has been providing investment operations outsourcing services to QIC since 2011 and also provides fund administration, global custody and depositary services to QIC’s Irish domiciled UCITS product.

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