EUROPE - Northern Trust Global Investments (NTGI) has announced that it more than doubled European assets under management last year after winning 35 new investment mandates.
As a result NTGI’s European assets rose to £2.7bn (e4.2bn) from £1.1bn.
Diageo was one such new client - placing assets in Northern’s manager of manager structure, which accounted for 20% of the overall value of the wins. Twelve per cent of the new assets were for active equity briefs.
Cash management and short duration briefs made up over £800m of the total and additionally NTGI was awarded a £200m transition management mandate.
“We are particularly excited by the current dynamics of the fund management industry.
“ With pension funds moving to specialist mandates and accepting the unique role of the manager of managers structure, we are exceptionally well placed for consistent asset growth in Europe,” says Kevin Rochford, managing director at NTGI Europe.
Rochford adds: “We have made substantial progress last year in creating a multi-disciplinary investment management capability. We have extended our investment capabilities with the acquisition of a highly successful international equity team, and their approach to investment and risk management have resulted in strong returns.”