Technology

Northern Trust Enhances Investment Monitor Tool

Tom Burroughes Editor London 25 November 2009

Northern Trust Enhances Investment Monitor Tool

Northern Trust announced this week that it has launched new compliance monitoring functions for clients investing in hedge funds.

Under the Northern Trust Hedge Fund Monitor, clients can draw up criteria to track how well diversified their portfolios are, liquidity risk, performance and investment strategy, the firm said in a statement.

The Chicago-headquartered bank said the enhancement to its monitor product is the latest to have been made since it went live in January last year. The monitor tool is distributed via youDevise, a financial applications firm.

“Our clients are telling us that the ability to measure liquidity and counterparty exposures in detail is of particular importance to them. With our newly enhanced Hedge Fund Monitor, investors in hedge funds can now manage exposure to individual institutions acting as prime-broker, custodian, administrator or credit provider for the hedge funds in a portfolio,” said Ian Headon, Northern Trust’s product manager for alternative asset administration.

Northern Trust had assets under administration of $75.5 billion as of 30 June, 2009, an increase of 54 per cent over the prior year. Northern Trust services nearly 300 hedge funds worldwide, as of June 2009, and in the previous 12 months provided global operations services to more than 120 new fund launches and transitions.

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