CHICAGO, Jan. 21 /PRNewswire-FirstCall/ -- Northern Trust has been appointed by Sanders Capital, LLC, to provide investment operations outsourcing and fund administration services. Sanders Capital, based in New York, N.Y., is launching a series of value-oriented investment strategies and institutional funds in 2010.
"Northern Trust's expertise in middle-office outsourcing and successful history of supporting asset growth and new product launches for investment managers make them an ideal partner for our firm," said Lewis A. Sanders, Chief Executive Officer of Sanders Capital. "In addition to technology and operations strength, Northern Trust brings a commitment to best practices, compliance and governance standards that is critical to our foundation as an investment manager."
Northern Trust's Investment Operations Outsourcing business, within the Global Fund Services (GFS) unit, offers a full range of middle- and back-office services tailored to the individual needs and requirements of each investment manager. GFS has been servicing investment manager and fund company clients for more than 30 years, and has experience supporting a wide range of complex investment strategies. Globally, GFS services more than 430 investment managers encompassing approximately 4,000 funds.
"We are pleased to work with Sanders Capital, an institutional manager with a value orientation and a strong client-centric philosophy," said Peter Cherecwich, Chief Operating Officer for Corporate and Institutional Services at Northern Trust. "By outsourcing investment operations and fund administration services, Sanders Capital can focus resources on its core mission of producing superior investment results for clients."
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 December 31, 2009, Northern Trust had assets under custody of US$3.7 trillion, and assets under investment management of US$627.2 billion. For 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 www.northerntrust.com.
SOURCE Northern Trust