Northern Trust has been appointed as fund administrator for First Sentier Group’s Singapore unit trust offering, expanding the relationship between the firms which began two decades ago.
Under the expanded mandate, Nasdaq-listed Northern Trust will provide custody, fund accounting and transfer agency services for First Sentier Investors Global Growth Funds, a collective investment scheme in Singapore.
Northern Trust says the arrangement combines local Singapore transfer agency capabilities with its global operating platform, supporting a “consistent, scalable and resilient servicing framework” for the unit trust offering while aligning with First Sentier Group’s broader operating model objectives and local regulatory requirements.
Yen Leng Ong, country head of Singapore at Northern Trust, says: “This expanded mandate with First Sentier Group strengthens our fund administration support for retail investors in the region and reflects the depth of our global relationship. It also represents an important milestone for our Singapore operations and a significant step in the evolution of our local transfer agency capability.”
The partnership between the firms started in 2006 with Northern Trust providing US custody and fund administration services to support First Sentier’s operations in the US private funds market.
Eventually, First Sentier appointed Northern Trust as its primary third-party administrator, integrating front-to-back solutions ( such as regulatory reporting, fund accounting and depositary services ) across its public market fund businesses in Australia, Ireland, Singapore and the United Kingdom.
Early this year, First Sentier transitioned two of its US mutual funds onto Northern Trust’s Datum One Series Trust, leveraging the latter’s governance, legal and operational oversight.
Amanda Gazal, chief operating officer of First Sentier Group, adds: “This appointment supports the continued simplification of our global operating model and strengthens the consistency of service across our fund ranges. The Singapore transition marks an important milestone in the ongoing evolution of our operating framework, designed to deliver scalable and resilient support for our clients and investors.”
Sydney-headquartered First Sentier is owned by Mitsubishi UFJ Trust and Banking Corporation.
