SINGAPORE — Northern Trust (Nasdaq: NTRS) has significantly deepened its strategic partnership with First Sentier Group, a move that underscores the growing demand for sophisticated, globally integrated fund administration services in the Asian market. The financial services giant has been appointed the fund administrator for First Sentier Investors Global Growth Funds, a key unit trust offering domiciled in Singapore.
This expanded mandate sees Northern Trust extending its comprehensive suite of services to include custody, fund accounting, and transfer agency functions for the Global Growth Funds. The integration of Northern Trust’s robust global operating platform with localized Singapore transfer agency expertise is designed to create a seamless, scalable, and resilient servicing framework. This strategic alignment is crucial for meeting the evolving needs of the Singaporean unit trust market while adhering to First Sentier Group’s overarching operational strategies and stringent local regulatory mandates.
Yen Leng Ong, Country Head of Singapore at Northern Trust, highlighted the significance of this development. “This expanded mandate with First Sentier Group not only fortifies our fund administration support for retail investors across the region but also exemplifies the depth of our long-standing global relationship,” Ong stated. “It represents a pivotal moment for our Singaporean operations and a substantial stride forward in the enhancement of our local transfer agency capabilities, positioning us for future growth in this dynamic market.”
The partnership, which dates back to 2006, has been progressively strengthened. The First Sentier Investors Global Growth Funds are recognized as a collective investment scheme in Singapore, further broadening the scope of Northern Trust’s global service delivery and solidifying its position as a trusted partner for international asset managers operating in the Asia-Pacific region.
Amanda Gazal, Chief Operating Officer for First Sentier Group, commented on the strategic importance of the appointment. “This appointment is instrumental in our ongoing efforts to streamline our global operating model and enhance service consistency across our diverse fund offerings,” Gazal remarked. “The transition in Singapore marks a critical juncture in the evolution of our operational framework, meticulously crafted to provide scalable and resilient support for both our institutional clients and individual investors.”
Northern Trust’s expansive portfolio of asset servicing solutions caters to global investment managers, encompassing fund administration, global custody, investment operations outsourcing, and advanced data solutions. The firm’s capabilities are engineered to support a wide array of intricate investment strategies across the entire spectrum of asset classes, reflecting its commitment to innovation and client-centric service delivery.
The strategic imperative behind such expansions lies in the intricate landscape of global finance. As regulatory environments become more complex and investor expectations for transparency and efficiency escalate, asset managers are increasingly seeking a single, reliable partner that can offer end-to-end solutions. Northern Trust’s ability to blend global reach with local expertise, particularly in burgeoning markets like Singapore, provides a distinct competitive advantage. The adoption of advanced technological infrastructure, coupled with a deep understanding of regional nuances, is crucial for managing the operational complexities inherent in cross-border fund administration. This partnership is a clear indicator of Northern Trust’s strategic focus on strengthening its presence and service offerings in key financial hubs, anticipating and responding to the demands of a rapidly evolving global investment industry.
About Northern Trust
Northern Trust Corporation (Nasdaq: NTRS) is a premier provider of wealth management, asset servicing, asset management, and banking services. With a legacy dating back to 1889, the company has established a significant global footprint, operating across 24 U.S. states, Washington D.C., and 22 international locations spanning Canada, Europe, the Middle East, and the Asia-Pacific region. As of June 30, 2026, Northern Trust safeguarded assets under custody/administration valued at $20.0 trillion and managed assets totaling $2.0 trillion. For over 135 years, Northern Trust has been recognized for its unwavering commitment to exceptional service, profound financial expertise, integrity, and pioneering innovation.
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