Edinburgh-based fund manager Martin Currie has become the latest fund manager to outsource its middle office function.
The Scottish firm, which has £15.4 billion (€17.92 billion) in assets under management, has selected Northern Trust (NT) as its outsourcer and has already migrated a number of investment operations for its London and Edinburgh businesses. These include performance measurement and client reporting, both of which were previously done in-house.
Martin Currie is following in the footsteps of other fund managers such as M&G and Invesco that have outsourced operations in recent months.
As data management becomes an increasingly integral part of operations, firms are looking to external providers that can help them bring all of their data together rather than trying to do it themselves across several different systems.
Euan Wilson, chief administration officer at Martin Currie, said the decision to outsource its middle office was driven by the need to have the right data “to inform our decision-making and support the smooth flow of everyday investment functions”.
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