Northern Belief (NASDAQ:) has been chosen by Abu Dhabi Pension Fund (ADPF) to offer a spread of providers efficient from January 1, 2024, based on bulletins made on Tuesday. The suite of providers consists of international custody, different asset administration by way of Entrance Workplace Options, liquidity options, efficiency and threat analytics, and compliance monitoring.
ADPF is a rising pool of sovereign-sponsored pension belongings within the Center East, managing contributions, pensions, and end-of-service advantages for UAE nationals affiliated with the federal government and personal sectors in Abu Dhabi. The fund additionally extends its providers to retirees and their beneficiaries.
Northern Belief was chosen by ADPF for its asset servicing experience particularly designed for complicated asset homeowners. The corporate’s dedication to the area and its options that mixture accounting, reporting, and analytics throughout each private and non-private belongings had been key components within the resolution. As a part of the settlement, Northern Belief will help the ADPF with funding allocation, liquidity administration, portfolio optimization, and securities lending providers.
James Wright, Head of Asset Homeowners, EMEA at Northern Belief expressed his delight at being appointed as the worldwide custodian by ADPF. He commented on Northern Belief’s intensive expertise within the area and its dedication to delivering client-centered options to massive, complicated asset homeowners.
Ali Alqemzi, Chief Working Officer for Funding at ADPF, praised Northern Belief’s give attention to asset homeowners, notably these with subtle allocations throughout private and non-private belongings. He highlighted Northern Belief’s adaptability to altering monetary landscapes by way of its funding in know-how and the event of options focused at funds like ADPF.
Northern Belief has a powerful international presence with greater than 1,800 international asset proprietor shoppers throughout sovereign wealth funds, firms, not-for-profits, public funds, insurance coverage corporations, and central banks. As of June 30, 2023, Northern Belief had belongings underneath custody/administration of $14.5 trillion, and belongings underneath administration of $1.4 trillion.
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