First Sentier expands Northern Trust mandate

Northern Trust has once again expanded its service offering with First Sentier Group, this time for its First Sentier Investors Global Growth Funds.

The First Sentier Investors Global Growth Funds represent a collective investment scheme in Singapore and is a Singapore unit trust offering.

Under the expanded mandate, Northern Trust will provide custody, fund accounting and transfer agency services for the investment scheme. By combining the Singapore transfer agency capabilities with Northern Trust's global operating platform, the mandate supports a "consistent, scalable and resilient" servicing framework.

It will also align with First Sentier's broader operating model objectives and local regulatory requirements, Northern Trust said.

The announcement follows the third-party administrator mandate for First Sentier Investors in December 2024.

Commenting, First Sentier Group chief operating officer Amanda Gazal said the fresh mandate will help steer its ongoing global expansion.

"This appointment supports the continued simplification of our global operating model and strengthens the consistency of service across our fund ranges," 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."

Northern Trust country head of Singapore Yen Leng Ong added: "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."

Notably, the custodian service provider appointed David Sara as regional head of industry development for Asia Pacific to deepen engagement with asset owners and accelerate growth across the region in May. Sara is based in Melbourne.

The firm is showing no signs of slowing to expanding its footprint around the world, recently pulling mandates from Taiwan's Bureau of Labor Funds and Frontier Advisors.