LONDON--(BUSINESS WIRE)--Northern Trust has become one of the first asset managers to transition to using new Key Investor Information Documents (KIIDs) for UCITS funds sold around the world, more than eight months ahead of the deadline set out in the UCITS IV Directive.
KIIDs form part of the new UCITS IV regulations, which came into effect in July 2011, with an implementation deadline for the KIIDs of 1st July 2012. They represent a simpler, shorter and more standardised document replacing the Simplified Prospectus.
“We support any move that makes the process of investing in funds more transparent and that promotes a level playing field for investors to compare available UCITS funds in which they choose to invest,” said John Krieg, managing director, asset management, Northern Trust, EMEA region. “We are pleased to have successfully completed our transition to providing KIIDs to our investors well ahead of the industry deadline.”
KIIDs aim to enable investors to compare available UCITS funds and make an informed decision about how investors wish to invest. The KIIDs contain a plain language summary of:
- Objective and investment policy
- Risk and Reward profile of the share class
- Entry, exit and ongoing charges
- Performance of the fund and benchmark.
Northern Trust’s UCITS fund range, domiciled in Ireland, offers investors a range of equity index funds in mature and emerging markets, fixed income index and triple-A rated money market funds.
Northern Trust is one of the world’s largest asset managers, with US$644.2 billion in assets under management as at 30 September 2011, and is ranked fourth largest for index management globally, according to a Pensions & Investments magazine special report in May 2011. Northern Trust offers a broad array of active, passive/index and quantitative investment solutions, across a range of asset classes including cash, fixed income, equities and alternatives. Northern Trust asset management services clients from more than 40 countries around the world. In the EMEA region, it manages assets for corporate and public pension funds, sovereign wealth funds, insurance companies, charities, central banks and other eligible professional investors.
END
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 September 30, 2011, Northern Trust had assets under custody of US$4.1 trillion, and assets under investment management of US$644.2 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.
Northern Trust Global Investments Limited (reg. no. 03929218) is authorised and regulated by the Financial Services Authority.
The material within and any linked material accessed via this communication is directed to eligible counterparties and professional clients only and should not be distributed to or relied upon by retail investors. For Asia-Pacific markets, it is directed to institutional investors, expert investors and professional investors only and should not be relied upon by retail investors.
· Northern Trust International Fund Administration Services (Ireland) Limited, Northern Trust Securities Services (Ireland) Limited and Northern Trust Fiduciary Services (Ireland) Limited are regulated by the Central Bank of Ireland.
· Northern Trust Global Services Limited operates in Abu Dhabi as a Representative Office, Licence number 13/238/2008 which is authorised and regulated by the Central Bank of the United Arab Emirates.
· 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).
· 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 a securities company regulated by the 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.
· Northern Trust Global Investments Japan, K.K. is regulated by the Japan Financial Services Agency.
· 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.