True Potential Selects Northern Trust for Outsourced Trading Solutions
07 Agosto 2024 - 3:00AM
Business Wire
Northern Trust (Nasdaq: NTRS) today announced that it has been
selected to provide outsourced trading via its Integrated Trading
Solutions (ITS) for True Potential, a United Kingdom
(UK)-headquartered wealth management firm, supporting £31.7bn
(approx. US$40.2bn) of assets under management (source: True
Potential, 31 July 2024). Northern Trust will assume the trading
function across True Potential’s internally managed funds with
approximately £6.1bn AUM as of 31 July 2024.
Northern Trust previously announced its appointment as True
Potential's custodian in January 2024. Northern Trust is providing
fund accounting, transfer agency, custody and depositary services
to True Potential’s open-ended investment company (OEIC)
UK-domiciled fund range.
Founded in 2007 and headquartered in Newcastle, UK, True
Potential is a platform operator, investment manager, pension
operator and administrator providing investment products and
technology to more than 1.4 million private clients. Its investment
products include the True Potential Wealth Strategy Funds – aimed
at helping clients manage wealth in a simple solution – and True
Potential Portfolios, a suite of diversified, discretionary-managed
investment solutions.
“True Potential selected Northern Trust as their outsourced
trading partner to leverage our extensive access to brokers,
trading expertise and transparent commission model. In addition,
our ability to access all 18 available Gilt-edged Market Makers
(GEMMS) and broad range of ETF liquidity options via our efficient
price discovery mechanism was a key decision point,” said Amy
Thorne, Head of Integrated Trading Solutions, EMEA, Northern Trust.
“The addition of trading and trade-related processing means True
Potential is taking full advantage of Northern Trust’s capabilities
at every point in the lifecycle of an investment decision, from
execution to custody and beyond.”
"Northern Trust’s outsourced trading operations provide a more
attractive pricing model for our portfolios, which we believe can
lower costs for our clients. This is important for us all as we
continue to grow our investment solutions," said Kevin Kidney, Head
of Asset Allocation, True Potential. “The team at Northern Trust
worked diligently to find the right solution and focused their
approach on the best outcomes for our clients. We look forward to
growing our relationship with them.”
Northern Trust’s outsourced trading capability combines
worldwide agency-only trading expertise in equities, fixed income
and exchange traded derivatives across global markets, coverage
from multiple trading locations, access to high-quality liquidity
and a fully integrated middle and back-office service. ITS helps
asset owners and asset managers to meaningfully lower costs, reduce
risk, manage regulatory compliance and enhance transparency and
operational efficiency.
ITS is part of Northern Trust Banking & Markets which also
provides institutional brokerage, foreign exchange, securities
lending and transition management services.
About Northern Trust Banking & Markets
Northern Trust Banking & Markets is comprised of a number of
Northern Trust entities that provide trading and execution services
on behalf of institutional clients, including foreign exchange,
institutional brokerage, securities finance and transition
management services. Foreign exchange, securities finance and
transition management services are provided by The Northern Trust
Company (TNTC) globally, and Northern Trust Global Services SE
(NTGS SE) in the European Economic Area (EEA). Institutional
Brokerage services including ITS are provided by NTGS SE in the
EEA, Northern Trust Securities LLP (NTS LLP) in the rest of EMEA,
Northern Trust Securities Australia Pty Ltd (NTSA) in APAC and
Northern Trust Securities, Inc. (NTSI) in the United States, member
FINRA, SIPC and a subsidiary of Northern Trust Corporation.
For legal and regulatory information about our offices and
legal entities, visit northerntrust.com/disclosures.
About Northern Trust
Northern Trust Corporation (Nasdaq: NTRS) is a leading provider
of wealth management, asset servicing, asset management and banking
to corporations, institutions, affluent families and individuals.
Founded in Chicago in 1889, Northern Trust has a global presence
with offices in 24 U.S. states and Washington, D.C., and across 22
locations in Canada, Europe, the Middle East and the Asia-Pacific
region. As of June 30, 2024, Northern Trust had assets under
custody/administration of US$16.6 trillion, and assets under
management of US$1.5 trillion. For more than 130 years, Northern
Trust has earned distinction as an industry leader for exceptional
service, financial expertise, integrity and innovation. Visit us on
northerntrust.com. Follow us on X (formerly Twitter) @NorthernTrust
or Northern Trust Corporation on LinkedIn.
Northern Trust Corporation, Head Office: 50 South La Salle
Street, Chicago, Illinois 60603 U.S.A., incorporated with limited
liability in the U.S. Global legal and regulatory information can
be found at https://www.northerntrust.com/terms-and-conditions
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Media
Europe, Middle East, Africa & Asia-Pacific:
Camilla Greene +44 (0) 20 7982 2176 Camilla_Greene@ntrs.com
Simon Ansell + 44 (0) 20 7982 1016 sa777@ntrs.com
US & Canada:
John O’Connell +1 312 444 2388 John_O’Connell@ntrs.com
http://www.northerntrust.com
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