Northern Trust has launched its servicing platform for US exchange-traded funds (ETFs) with investment management firm Harding Loevner as the platform’s first client. The bank will be providing ETF servicing solutions for Harding Loevner’s first US ETF, the International Developed Markets Select Equity (LOEV).
The new partnership is an extension of a long-term collaboration – Northern trust has provided Harding Loevner with fund custody and administration services globally for more than 15 years. For the LOEV, Northern Trust will offer an “integrated asset servicing solution” that covers custody, fund accounting, fund administration and transfer agency, as well as basket creation, order taking, and authorised participant servicing.
Ryan Burns, head of Global Fund Services, Americas, at Northern Trust Asset Servicing describes the new ETF servicing platform as “a natural extension of the full suite of asset servicing solutions Northern Trust provides”.
