First Sentier awards mandate to Northern Trust

First Sentier is consolidating its global asset servicing providers, mandating Northern Trust in Ireland and Singapore.

Northern Trust has been appointed fund administrator and depositary for First Sentier's US$14 billion Irish fund, the First Sentier Investors Global Umbrella Fund, providing custody, depositary, fund accounting and transfer agency services.

It has also been named fund administrator for the First Sentier Investors Global Growth Funds, a Singapore unit trust.

Northern Trust said the mandates reflect a continued shift toward more streamlined operating models, where asset managers are consolidating providers while maintaining flexibility across regions.

First Sentier Group chief operating officer Amanda Gazal said: "This mandate extends our longstanding relationship with Northern Trust and supports the continued alignment of our global operating model."

"As we grow across markets and fund structures, maintaining a consistent and scalable servicing framework remains a priority. This appointment supports our focus on operational resilience and efficiency while retaining the flexibility required to support local market and investor requirements."

On the Singapore mandate, Gazal said: "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."

The move represents an expansion of a broader global relationship between the firms which began in 2006.

Northern Trust Ireland country head Melíosa O'Caoimh said the continued work with First Sentier Group reflected the importance of consistent support across jurisdictions as clients expand their fund ranges.

"In Ireland, we combine local expertise with a global operating model, helping clients manage complexity while maintaining flexibility across structures, markets and investor requirements," O'Caoimh said.

Northern Trust Singapore country head Yen Leng Ong said the expanded mandate strengthens its fund administration support for retail investors in the region.

"It also represents an important milestone for our Singapore operations and a significant step in the evolution of our local transfer agency capability," Leng Ong said.