Fundsmith, a high profile UK fund manager, has appointed Northern Trust for asset servicing covering its Luxembourg-domiciled funds.
The agreement will see Northern Trust provide fund accounting, transfer agency, and global custody services to Fundsmith Sicav, launched as an umbrella fund in Luxembourg in 2011.
Toby Glaysher, head of global fund services, international at Northern Trust, said Northern Trust would facilitate operational efficiency, speed to market, and fund distribution.
As of June 1, Fundsmith’s Luxembourg Sicav had €6.3 billion of assets under management. Earlier this year, it added a new strategy – the Fundsmith Sustainable Equity Fund – to the fund range.
Northern Trust also acts as fund administrator and global custodian to several of Fundsmith’s UK and US-based funds, while Fundsmith also leverages Northern Trust’s outsourced trading platform across its fund range.
Headquartered in London, Fundsmith has offices in Mauritius and the US, and had over £33 billion in AuM as of the end of the last year.
© 2021 funds europe
