Warwickshire Pension Fund, a UK Local Government Pension Scheme (LGPS) with approximately £3.6bn in pension assets, has appointed Northern Trust to provide global custody, valuation reporting, capital call execution and performance measurement services.
As part of the mandate, Northern Trust will support Warwickshire Pension Fund with asset servicing capabilities that bring custody data, reporting and performance information together, helping support the fund’s evolving requirements.
Warwickshire Pension Fund is one of 18 partner funds within the Border to Coast Pensions Partnership, one of the largest LGPS pools by AUM in the UK, with around £120bn managed on behalf of its partner funds.
Northern Trust’s appointment comes as LGPS funds continue to adapt their operating models in response to the UK government’s Fit for the Future agenda, including expectations around asset pooling, governance, private market investing and closer alignment between administering authorities and pools.
Ian Hamilton, head of asset owners, EMEA, at Northern Trust, said: “At a time of meaningful change for the LGPS sector, funds are balancing day-to-day stewardship with the need to adapt for the years ahead. We look forward to supporting the fund with a range of asset servicing solutions, leveraging our experience in the sector to help them navigate the continued evolution of the LGPS landscape.”
Other mandates
In August, Northern Trust was reappointed to provide a range of asset servicing solutions to the BT Pension Scheme and its fiduciary manager Brightwell.
The extended mandates include global custody, investment operations outsourcing and derivatives outsourcing, supporting the needs of both organisations through an integrated service model.
In May 2024, Northern Trust was appointed by NEST as its new fund administrator and custodian, helping the pension fund coordinate its investments across its diversified portfolio.
Since then, the partnership between Northern Trust and NEST has evolved, and the provider is supporting NEST as it expands its data and technology capabilities.
