PGA Sponsor Provides New Hedge Fund Service |
Date: Thursday, April 10, 2008
Author: Paula Schaap, Hedgefund.net
Custodian bank Northern Trust has gone live with its first hedge fund middle office services client.
The service provides automated trade matching, derivatives processing, reconciliation and connectivity to multiple prime brokers, the company said in a statement. It is an extension of its already existent outsourcing solutions for hedge fund firms.
Northern Trust introduced its full range of hedge fund services to support a fund launched by New York-based Julius Baer Investment Management.
Chicago-based Northern Trust has more than $4 trillion in assets under custody and $757 billion in assets under investment management.
In February the company took over the title sponsorship of the PGA Tour’s Los Angeles Riviera Country Club tournament from Nissan.
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