Northern Trust to Offer Asset Administration Services for Abu Dhabi Pension Fund

Northern Trust has been appointed by the Abu Dhabi Pension Fund (ADPF) to provide a comprehensive range of services starting January 1, 2024, as announced on Tuesday. The services will encompass global custody, alternative asset administration through Front Office Solutions, liquidity solutions, performance and risk analytics, and compliance monitoring.

ADPF is a growing entity that manages sovereign-sponsored pension assets in the Middle East, overseeing contributions, pensions, and end-of-service benefits for UAE nationals connected to both government and private sectors in Abu Dhabi. The fund also offers services to retirees and their beneficiaries.

Northern Trust was selected for its asset servicing capabilities tailored for complex asset proprietors. The company’s dedication to the region and its integrated solutions for accounting, reporting, and analytics across public and private assets were significant factors in the selection process. Under this partnership, Northern Trust will support the ADPF with investment allocation, liquidity management, portfolio optimization, and securities lending services.

James Wright, Head of Asset Owners for Northern Trust in the EMEA region, expressed his enthusiasm about being designated as the global custodian for ADPF. He emphasized Northern Trust’s extensive experience within the area and its focus on delivering solutions tailored to the needs of sizable and intricate asset owners.

Ali Alqemzi, Chief Operating Officer for Investment at ADPF, commended Northern Trust for its commitment to asset owners, particularly those with sophisticated asset allocations. He noted the firm’s flexibility in adapting to the evolving financial landscape, driven by its investments in technology and the creation of targeted solutions for funds like ADPF.

Northern Trust maintains a robust global presence, serving over 1,800 asset owner clients, including sovereign wealth funds, corporations, non-profits, public funds, insurance companies, and central banks. As of June 30, 2023, the firm reported assets under custody/administration totaling $14.5 trillion, along with assets under management amounting to $1.4 trillion.