CHICAGO--(BUSINESS WIRE)--Northern Trust announced today it has expanded its suite of reporting for custody clients to offer comprehensive views of investment information on private market assets held in a range of commingled and unitized fund structures. Northern Trust’s Alternative Funds (AF)-Fund Valuation Status Summary integrates data including cash flows and valuation information to assist clients in their management and due diligence of these specialized assets.
The Alternative Funds (AF)-Fund Valuation Status Summary, available via Northern Trust’s multifaceted online portal, Passport®, complements Northern Trust’s comprehensive reporting on partnership investments in private equity, real estate and other alternative assets. The new summary report combines alternative asset holdings information from Northern Trust’s portfolio valuation records with data sourced from fund company statements to deliver consolidated pricing, market value, valuation, and statement tracking information for clients invested in alternative funds.
"As clients increase their exposure to alternative assets they need tools that make it easier for them to track these assets," said Paul Finlayson, product manager for Northern Trust's Alternative Assets products. "Northern Trust’s reporting is designed to provide clients with the specific data they need, so they can focus on analysis rather than data crunching and scrubbing.”
The Fund Valuation Status Summary presents information from a variety of fund types, including commingled funds, unitized hedge funds, money market funds, Canadian pooled funds, unitized real estate funds and other alternative unitized funds. The new report eliminates the need for investors in alternative assets to locate, gather and normalize data from various fund sponsors. The summary also allows clients to quickly identify funds that have market values based on lagged, estimated or final values or which represent material holdings that warrant additional scrutiny. Clients can view audited data for a particular month-end and daily data using the best information available from fund company statements.
"The alternative fund valuation summary is useful as a reconciliation and audit tool to assist the accounting department in our due diligence and review of alternative assets. As our company is a significant investor in private equity and other alternative assets, my department appreciates Northern Trust's commitment to providing extensive reporting," said Max Giacomazzi, Vice President, Finance, The Church Pension Group.]
Northern Trust processes private equity and alternative fund interests representing more than $360 billion in assets for approximately 4,000 clients. In addition to valuations and specialized alternative assets metrics, Northern Trust offers fully integrated and detailed private equity accounting reports via Passport. Northern Trust also provides tracking, transparency, and cash flow modeling through its Private Monitor™ and Hedge Fund Monitor™ products.
About Northern Trust
Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of investment management, asset and fund administration, banking solutions and fiduciary services for corporations, institutions and affluent individuals worldwide. Northern Trust, a financial holding company based in Chicago, has offices in 18 U.S. states and 16 international locations in North America, Europe, the Middle East and the Asia-Pacific region. As of June 30, 2011, Northern Trust had assets under custody of US$4.4 trillion, and assets under investment management of US$684.1 billion. For more than 120 years, Northern Trust has earned distinction as an industry leader in combining exceptional service and expertise with innovative products and technology. For more information, visit www.northerntrust.com.
Northern Trust Corporation, Head Office: 50 South La Salle Street, Chicago, Illinois 60603 U.S.A, incorporated with limited liability in the U.S.
The Northern Trust Company, London Branch (reg. no. BR001960), Northern Trust Global Investments Limited (reg. no. 03929218) and Northern Trust Global Services Limited (reg. no. 04795756) are authorised and regulated by the Financial Services Authority.
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- Northern Trust operates in Australia as a foreign authorised deposit-taking institution (foreign ADI) and is regulated by the Australian Prudential Regulation Authority and the Australian Securities & Investments Commission (AFS Licence No: 314970).
- The Northern Trust Company of Hong Kong Limited is regulated by the Hong Kong Securities and Futures Commission.
- The Northern Trust Company has a Singapore Branch which is a foreign wholesale bank regulated by the Monetary Authority of Singapore.
- The Northern Trust Company has a branch in China regulated by the China Banking Regulatory Commission
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- Northern Trust Global Services Limited has a Netherlands Branch which is authorised and regulated in the Netherlands by De Nederlandsche Bank.
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- The Northern Trust Company operates in Canada as The Northern Trust Company, Canada Branch which is an authorized foreign bank branch under the Bank Act (Canada). Trustee related services in Canada are provided by the wholly owned subsidiary The Northern Trust Company, Canada, an authorized trust company under the Trust & Loans Companies Act (Canada). Deposits with The Northern Trust Company and its affiliates and subsidiaries are not insured by the Canada Deposit Insurance Corporation.
- Northern Trust Global Services Ltd (UK) Sweden Filial is Authorised by the Financial Services Authority and subject to regulation by the Finansinspektionen.
- Northern Trust Global Investments Limited has a Netherlands branch which is authorised by the Financial Services Authority and subject to regulation in The Netherlands by the Autoriteit Financiële Markten.
- Northern Trust Global Investments Limited has a Sweden branch which is authorised by the Financial Services Authority and subject to regulation in Sweden by the Finansinspektionen.