Northern Trust has been selected by Nordic investment manager Storebrand Asset Management AS (Storebrand) as asset servicing provider to its AIF (alternative investment fund) and UCITS (undertakings for collective investment in transferable securities) funds domiciled in Luxembourg.

Northern Trust will provide global custody, fund administration, transfer agency, depositary, and company secretarial services for the Storebrand funds in Luxembourg.

The UCITS umbrella fund will operate a number of sub-funds, which amongst other things will focus on Storebrand's ESG and selected SKAGEN value-based investment strategies.

Northern Trust will also service a range of alternative asset classes, including private equity and infrastructure assets, by supporting the launch of a Luxembourg reserved alternative investment fund.

Jan Erik Saugestad, CEO, Storebrand Asset Management said: "Storebrand Asset Management has led the way by investing sustainably at scale for over 20 years, but the need to address global environmental and social challenges has never been greater. We are therefore excited to extend our reach and provide our sustainable solutions to European clients."

"To achieve this we require an asset servicing partner with the scale and expertise to provide extensive solutions in support of our international growth strategy. In Northern Trust, we have found a partner with a strong cultural fit that understands who we are – and has a local presence in the Nordic region combined with significant expertise in Luxembourg."

Storebrand is Norway's largest independent asset manager with over NOK786 billion of assets under management (as of Q3 2019) all managed according to strict sustainability criteria. It provides long-term savings and insurance solutions to private and corporate clients, with particular focus on sustainable investments.

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Northern Trust has been selected by Nordic investment manager Storebrand Asset Management AS (Storebrand) as asset servicing provider to its AIF (alternative investment fund) and UCITS (undertakings for collective investment in transferable securities) funds domiciled in Luxembourg.

Northern Trust will provide global custody, fund administration, transfer agency, depositary, and company secretarial services for the Storebrand funds in Luxembourg.

The UCITS umbrella fund will operate a number of sub-funds, which amongst other things will focus on Storebrand's ESG and selected SKAGEN value-based investment strategies.

Northern Trust will also service a range of alternative asset classes, including private equity and infrastructure assets, by supporting the launch of a Luxembourg reserved alternative investment fund.

Jan Erik Saugestad, CEO, Storebrand Asset Management said: "Storebrand Asset Management has led the way by investing sustainably at scale for over 20 years, but the need to address global environmental and social challenges has never been greater. We are therefore excited to extend our reach and provide our sustainable solutions to European clients."

"To achieve this we require an asset servicing partner with the scale and expertise to provide extensive solutions in support of our international growth strategy. In Northern Trust, we have found a partner with a strong cultural fit that understands who we are – and has a local presence in the Nordic region combined with significant expertise in Luxembourg."

Storebrand is Norway's largest independent asset manager with over NOK786 billion of assets under management (as of Q3 2019) all managed according to strict sustainability criteria. It provides long-term savings and insurance solutions to private and corporate clients, with particular focus on sustainable investments.