LONDON & CHICAGO--(BUSINESS WIRE)--Northern Trust (Nasdaq:NTRS) has enhanced its Hedge Fund Monitor product with a series of new features designed to improve automation and straight-through processing, enabling Northern Trust’s Funds of Hedge Funds (FoHF) clients across the globe to access performance, liquidity and compliance data throughout the day.
Automation updates to Northern Trust’s Hedge Fund Monitor™ product enable Northern Trust clients to now enter multiple trades on a single screen, including multiple trades on a single portfolio and, significantly, to instruct a single trade and allocate it across multiple portfolios.
Subject to terms and conditions, this allows a client to switch hedge fund investments between multiple portfolios without necessarily having to declare each switch to the market. Northern Trust’s registration process will allow clients to switch hedge fund investments without incurring difficulties with capacity such as lockups (the window of time in which investors of a hedge fund are not allowed to redeem or sell shares) and gates (a restriction placed on a hedge fund limiting the amount of withdrawals from the fund during a redemption period).
“Eliminating manual processing and enabling access to robust information are key aspirations for fund of hedge fund managers,” said Ian Headon, Northern Trust’s asset servicing product manager for alternative investments. “These latest enhancements from Northern Trust enable our clients across the globe to streamline manual entries, reduce operating overheads, and improve internal reporting.
Other key updates to Hedge Fund Monitor which enhance liquidity, compliance and performance include:
- Features that enable clients to view, at any given time, their quickest and most cost-effective liquidity options. This allows clients to easily toggle between these two options gives them greater flexibility
- Lot level liquidity details now reported on screen. Clients are now able to immediately see the various stages of liquidity in their portfolio, enhancing their ability to make investment decisions
Northern Trust is a leading administrator of hedge funds and FoHF with approximately US$100 billion of assets under administration for hedge funds and FoHF, as of March 31 2011. In May, Northern Trust announced it will acquire leading hedge fund administrator, Omnium, further expanding its hedge fund operations. The business which will be integrated as Northern Trust Hedge Fund Services, LLC, will offer world-class, scalable technology and dedicated expertise to serve hedge funds and large institutional investors with complex portfolios. In addition, it will provide comprehensive administrative and middle office services including trade processing, valuation, real-time reporting, cash management, accounting, collateral management and investor servicing.
About Northern Trust
Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of investment management, asset and fund administration, banking solutions and fiduciary services for corporations, institutions and affluent individuals worldwide. Northern Trust, a financial holding company based in Chicago, has offices in 18 U.S. states and 16 international locations in North America, Europe, the Middle East and the Asia-Pacific region. As of March 31, 2011, Northern Trust had assets under custody of US$4.4 trillion, and assets under investment management of US$662.2 billion. For more than 120 years, Northern Trust has earned distinction as an industry leader in combining exceptional service and expertise with innovative products and technology. For more information, visit http://www.northerntrust.com.
Northern Trust Corporation, Head Office: 50 South La Salle Street, Chicago, Illinois 60603 U.S.A, incorporated with limited liability in the U.S.
The Northern Trust Company, London Branch (reg. no. BR001960), Northern Trust Global Investments Limited (reg. no. 03929218) and Northern Trust Global Services Limited (reg. no. 04795756) are authorised and regulated by the Financial Services Authority.
The material within and any linked material accessed via this communication is directed to eligible counterparties and professional clients only and should not be distributed to or relied upon by retail investors. For Asia-Pacific markets, it is directed to institutional investors, expert investors and professional investors only and should not be relied upon by retail investors.
- Northern Trust (Guernsey) Limited, Northern Trust Fiduciary Services (Guernsey) Limited, and Northern Trust International Fund Administration Services (Guernsey) Limited are licensed by the Guernsey Financial Services Commission.
- Northern Trust International Fund Administrators (Jersey) Limited and Northern Trust Fiduciary Services (Jersey) Limited are regulated by the Jersey Financial Services Commission.
- Northern Trust International Fund Administration Services (Ireland) Limited and Northern Trust Fiduciary Services (Ireland) Limited are regulated by the Central Bank of Ireland.
- Northern Trust Global Services Limited has a Netherlands Branch which is authorised and regulated in the Netherlands by De Nederlandsche Bank.
- Northern Trust Global Services Limited has a Luxembourg Branch which is authorised and regulated by the Commission de Surveillance du Secteur Financier (CSSF).
- Northern Trust Luxembourg Management Company S.A. is regulated by the Commission de Surveillance du Secteur Financier (CSSF).
- Northern Trust Global Services Limited operates in Abu Dhabi as a Representative Office, Licence number 13/238/2008 which is authorised and regulated by the Central Bank of the United Arab Emirates.
- The Northern Trust Company operates in Canada as The Northern Trust Company, Canada Branch which is an authorized foreign bank branch under the Bank Act (Canada). Trustee related services in Canada are provided by the wholly owned subsidiary The Northern Trust Company, Canada, an authorized trust company under the Trust & Loans Companies Act (Canada). Deposits with The Northern Trust Company and its affiliates and subsidiaries are not insured by the Canada Deposit Insurance Corporation.
- The Northern Trust Company operates in Australia as a foreign authorised deposit-taking institution (foreign ADI) and is regulated by the Australian Prudential Regulation Authority.
- The Northern Trust Company of Hong Kong Limited is a securities company regulated by the Securities and Futures Commission.
- The Northern Trust Company has a Singapore Branch which is a foreign wholesale bank regulated by the Monetary Authority of Singapore.
- The Northern Trust Company has a branch in China regulated by the China Banking Regulatory Commission
- Northern Trust Global Investments Japan, K.K. is regulated by the Japan Financial Services Agency.
- Northern Trust Global Services Ltd (UK) Sweden Filial is Authorised by the Financial Services Authority and subject to regulation by the Finansinspektionen.
- Northern Trust Global Investments Limited has a Netherlands branch which is authorised by the Financial Services Authority and subject to regulation in The Netherlands by the Autoriteit Financiële Markten.
- Northern Trust Global Investments Limited has a Sweden branch which is authorised by the Financial Services Authority and subject to regulation in Sweden by the Finansinspektionen.