Chicago-based custody bank Northern Trust has been selected to provide outsourced trading for the $20bn South Africa-based asset management firm Nedgroup Investments.
Northern Trust will be supporting Nedgroup Investments’ new in-house multi-boutique platform which specialises in fixed income.
The premier fund on the platform, Nedgroup Investments Global Strategic Bond Fund, will feature a range of active fixed income strategies.
“While equity outsourcing has long been popular with managers, outsourcing the fixed income trading desk has been less common,” said Northern Trust’s Amy Thorne, Emea head of Integrated Trading Solutions.
“Recently, we’ve seen this perception shift, with a 144% growth in trade flow activity coming across our fixed income desk in 2023.”
