Vontobel Asset Management Launches Cross-Border, Tax-Transparent Fund for Institutional Investors

CHICAGO, April 13 /PRNewswire-FirstCall/ -- Vontobel Asset Management, Inc. announced today the launch of an emerging markets equity fund for institutional investors located in multiple countries. The Luxembourg-domiciled Fonds Commun de Placement ("FCP") established by Vontobel will provide a tax-transparent vehicle for investment in its global equity strategies by institutional investors in Europe and Asia.  Northern Trust has been appointed to provide global custody, fund administration, investor-level tax services and management company services.

"We were eager to launch this new, cross-border pooled fund in order to offer our clients exposure to emerging markets and support the global distribution of our equity products on a tax-efficient basis," said Thomas Wittwer, Managing Director and Head of Marketing and Sales for Vontobel Asset Management, Inc.  "The FCP structure provides operational benefits, including the flexibility to offer other investment strategies over time.  For our successful implementation, we needed a service provider that could support multiple countries of investment, multiple countries of investor, and a variety of sub funds.  Northern Trust's team of tax, legal and operations experts was highly focused on execution, and consistently excellent throughout the launch process. The Northern Trust pooling solution supports our growth strategy and our plans to distribute our tax-efficient products on a global scale."

The provision of Northern Trust asset pooling services to support the Vontobel FCP expands a relationship that began in 2007 with the migration of Vontobel's non-portfolio management-related investment operations to Northern Trust. Investment Operations Outsourcing services provided by Northern Trust include trade processing and settlement, reconciliation, portfolio accounting, client valuations and reporting, foreign exchange and other aspects of post-trade execution support.

"This extension of services between Northern Trust and Vontobel Asset Management displays the unique and broad services Northern Trust is capable of providing our institutional clients," said Steven L. Fradkin, president of Northern Trust's Corporate and Institutional Services.  "This emerging markets strategy diversifies Vontobel's product range while providing in-depth oversight and tax transparency via Northern Trust's pooling solution.  Cross-border pooling is a core business for Northern Trust, and we continue to invest in our innovative platform."

Northern Trust is a pioneer in cross-border pooling and was the first to fully support tax-transparent funds for multinational corporations created to pool the assets of investors with multiple tax rates, investing in multiple jurisdictions. As of December 31, 2009, Northern Trust administered a total of $158 billion in cross-border fund assets from offices in Guernsey, Ireland and Luxembourg.  In addition, Northern Trust had more than $39 billion in tax-transparent pooled assets receiving full investor-level tax entitlement services for some of the most sophisticated multinational companies and investment managers around the globe. Northern Trust supports tax-transparent funds with multiple investor countries, multiple investment markets, multiple investment strategies and multiple investment managers.  

About Vontobel Asset Management, Inc.

Vontobel Asset Management, Inc. is an SEC-registered investment advisor serving institutional clients seeking an expertise in global asset management.  Vontobel runs concentrated all-cap equity portfolios invested in undervalued high quality sustainable growth companies. Vontobel currently runs six strategies (US Value Equity, Global Equity, European Equity, Emerging Markets Equity and Asia ex Japan Equity).  Vontobel serves all major market segments including endowments, pension plans, foreign governments, foundations and financial institutions.

Incorporated and registered as an investment advisor under the "Investment Advisors Act of 1940" in 1984, Vontobel Asset Management, Inc is a wholly owned subsidiary of Vontobel Holding AG.  The Vontobel Group was founded in 1924 and offers the unique combination of an independent Swiss private bank with the innovative strength of an active international asset manager. The Asset Management business unit specializes in active asset management and is positioned as a multi-boutique provider with three global and three regional actively managed, innovative product lines. Its core competencies include targeted asset allocation, stock selection and multi-manager approaches.

Vontobel's leadership position in the global financial community stems from the commitment to developing and implementing strategies that fulfill the clients' investment needs. For more information, visit http://www.vusa.com.

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.

Northern Trust Corporation, Head Office: 50 South La Salle Street, Chicago, Illinois 60603 U.S.A., incorporated with limited liability in the U.S.

The Northern Trust Company, London Branch (reg. no. BR001960), Northern Trust Global Investments Limited (reg. no. 03929218) and Northern Trust Global Services Limited (reg. no. 04795756) are authorised and regulated by the Financial Services Authority.

The material within and any linked material accessed via this communication is directed to eligible counterparties and professional clients only and should not be distributed to or relied upon by retail investors. For Asia Pacific markets, it is directed to institutional investors, expert investors and professional investors only and should not be relied upon by retail investors.

The Northern Trust Company operates in Australia as a foreign authorised deposit-taking institution (foreign ADI) and is regulated by the Australian Prudential Regulation Authority.

The Northern Trust Company of Hong Kong Limited is a securities company regulated by the Securities and Futures Commission.

The Northern Trust Company has a Singapore Branch which is a foreign wholesale bank regulated by the Monetary Authority of Singapore.

The Northern Trust Company operates in China as a Representative Office and is regulated by the China Banking Regulatory Commission.

Northern Trust Global Investments Japan, K.K. is regulated by the Japan Financial Services Agency.

Northern Trust (Guernsey) Limited, Northern Trust Fiduciary Services (Guernsey) Limited, Northern Trust Fiduciary Company (Guernsey) Limited and Northern Trust International Fund Administration Services (Guernsey) Limited are licensed by the Guernsey Financial Services Commission.

Northern Trust International Fund Administrators (Jersey) Limited and Northern Trust Fiduciary Services (Jersey) Limited are regulated by the Jersey Financial Services Commission.

Northern Trust International Fund Administration Services (Ireland) Limited and Northern Trust Fiduciary Services (Ireland) Limited are regulated by the Financial Regulator.

Northern Trust Global Services Limited has a Netherlands Branch which is authorised and regulated in the Netherlands by De Nederlandsche Bank.

Northern Trust Global Services Limited has a Luxembourg Branch which is authorised and regulated by the Commission de Surveillance du Secteur Financier (CSSF).

Northern Trust Luxembourg Management Company S.A. is regulated by the Commission de Surveillance du Secteur Financier (CSSF).

Northern Trust Global Services Limited operates in Abu Dhabi as a Representative Office, Licence number 13/238/2008 which is authorised and regulated by the Central Bank of the United Arab Emirates.

The Northern Trust Company operates in Canada as The Northern Trust Company, Canada Branch which is an authorized foreign bank branch under the Bank Act (Canada).  Trustee related services in Canada are provided by the wholly owned subsidiary The Northern Trust Company, Canada, an authorized trust company under the Trust & Loans Companies Act (Canada).  Deposits with The Northern Trust Company and its affiliates and subsidiaries are not insured by the Canada Deposit Insurance Corporation.

Northern Trust Global Services Ltd (UK) Sweden Filial is Authorised by the Financial Services Authority and subject to regulation by the Finansinspektionen.

SOURCE Northern Trust; Vontobel Asset Management, Inc.