(BUSINESS WIRE)-- Northern Trust (Nasdaq: NTRS) announced today that it has been appointed by Azimut (DIFC) Limited to
provide asset servicing and portfolio reporting for its Dubai
International Financial Centre (DIFC) funds in the Middle East.
Azimut (DIFC)
Limited’s Dubai-managed funds provide its investors with access to a
range of investment strategies, private wealth solutions and mutual
funds, both proprietary and third-party. As custodian for its DIFC fund
range, Northern Trust will deliver portfolio reporting and local
servicing in its client’s time zone directly from the United Arab
Emirates.
Azimut (DIFC)
Limited is part of the Azimut Group – one of Italy’s leading
independent asset managers with €54.5 billion of assets under management
(as of 31 May 2020). Headquartered in Milan, the group was founded in
1989 and is listed on the Italian stock exchange.
Michael Slater, head of Middle East and Africa at Northern Trust comments:
“Azimut is a prominent European asset manager requiring a Middle East
asset servicing solution. The combination of Northern Trust’s
technology, local presence and ability to provide global custody in over
a hundred countries supports Azimut’s strategic growth objectives by
delivering servicing and solutions in its working week and time zone.
Our business supporting Middle East funds continues to grow –
underpinned by our global scale and expertise in supporting the full
spectrum of investment strategies.”
Giorgio Medda, global head of Asset Management and Azimut Group Co-CEO,
said: “As we continue to grow our investment solutions offering for our
clients in the Middle East, we are committed to providing them with
efficient and best-of-class services. Northern Trust’s multi-asset class
expertise, technology platform and sound financial standing offer us a
solid and secure base for our ambitious expansion plans.”
Northern
Trust began servicing clients in the Middle East in 1987. Today, from
its offices in Abu Dhabi and Riyadh, it provides a comprehensive range of solutions to
a portfolio of clients that include many of the largest sovereign
wealth funds, central banks, inter-governmental/governmental
organizations, asset managers and family offices in the region.
About Northern Trust
Northern
Trust Corporation (Nasdaq: NTRS) is a leading provider of wealth
management, asset servicing, asset management and banking to
corporations, institutions, affluent families and individuals. Founded
in Chicago in 1889, Northern Trust has a global presence with offices in
22 U.S. states and Washington, D.C., and across 22 locations in Canada,
Europe, the Middle East and the Asia-Pacific region. As of March 31,
2020, Northern Trust had assets under custody/administration of US $10.9
trillion, and assets under management of US $1.1 trillion. For more
than 130 years, Northern Trust has earned distinction as an industry
leader for exceptional service, financial expertise, integrity and
innovation. Visit northerntrust.com or follow us on Twitter @NorthernTrust.
Northern
Trust Corporation, Head Office: 50 South La Salle Street, Chicago,
Illinois 60603 U.S.A., incorporated with limited liability in the U.S.
Global legal and regulatory information can be found at https://www.northerntrust.com/terms-and-conditions.
About Azimut (DIFC) Limited
Azimut is
Italy’s leading independent asset manager (active since 1989). The
parent company Azimut Holding was listed on the Italian stock exchange
on 7 July 2004 (AZM.MI) and, among others, is a member of the main
Italian index FTSE MIB. The shareholder structure includes over 1,900
managers, employees and financial advisors, bound by a shareholders’
agreement that controls c. 21% of the company. The remaining is free
float. The Group comprises various companies active in the sale,
management and distribution of financial and insurance products, with
Registered Offices mainly in Italy, Luxembourg, Ireland, China (Hong
Kong and Shanghai), Monaco, Switzerland, Taiwan, Brazil, Egypt,
Singapore, Mexico, Australia, Chile, USA, UAE and Turkey. In Italy,
Azimut Capital Management SGR sells and manages Italian mutual funds,
Italian alternative investment funds, as well as being active in the
discretionary management of individual investment portfolios.
Furthermore, Azimut Capital Management SGR, following the demerger by
incorporation of Azimut Consulenza SIM, distributes Group and third
party products in Italy via a network of financial advisors while Azimut
Libera Impresa focuses on the Alternatives business. Overseas main
operations are Azimut Investments SA (formerly AZ Fund Management
founded in Luxembourg in 1999), which manages the multi strategy funds
AZ Fund 1 and AZ Multi Asset and the Irish AZ Life DAC, which offers
life insurance products.
View this news release online at:
Contacts
Media Contacts, Northern Trust
Europe, Middle East, Africa & Asia-Pacific:
Camilla Greene
+44 (0) 20 7982 2176
Camilla_Greene@ntrs.com
Marcel Klebba
+44 (0) 20 7982 1994
Marcel_Klebba@ntrs.com
US & Canada:
John O’Connell
+1 312 444 2388
John_O’Connell@ntrs.com
Azimut Group
Investor Relations
Vittorio Pracca
+39 02 8898 5853
Vittorio.pracca@azimut.it
Galeazzo Cornetto Bourlot
+39 02 8898 5066
galeazzo.cornetto@azimut.it
Media Relations
Maria Laura Sisti (Esclapon)
+39 347 42 82 170
marialaura.sisti@esclapon.com
Viviana Merotto
+39 02 8898 5026
viviana.merotto@azimut.it
