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Northern Trust launches Australian fund accounting platform

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Northern Trust has launched an Australian investment accounting platform, which provides a range of custody and fund accounting and administration services to superannuation funds and investment managers in Australia.



“We are delighted to bring a unique product to the Australian market – one that is specifically designed to meet the sophisticated and complex regulatory reporting requirements of the Australian market while also leveraging the breadth of our single, global technology and operations architecture,” says Paul Cutts, Northern Trust’s managing director for Australia and New Zealand.

The platform offers clients immediate access to fund accounting, net asset values, fund administration and regulatory reporting.

Using Northern Trust’s global operating platform ensures that client reporting is driven from a single transaction source and enables delivery of a full suite of online tools including daily performance and compliance monitoring already available to sophisticated institutional investors in Australia and 40 other countries.

LSV Asset Management, a US-based investment manager with institutional mandates in Australia and New Zealand, is the first investment manager to transition to the new accounting platform.

Tremaine Atkinson, chief operating officer of LSV, says the platform will automate the complex accounting process for Australia’s market requirements and help ensure the accuracy of NAVs.

“In volatile markets, automated accounting is essential to reducing risk,” Atkinson says. “Northern Trust’s platform eliminates the manual processing and reconciliations that can cause errors.”

Northern Trust’s accounting and regulatory reporting capabilities are integrated with its risk and performance tools and delivered via Passport, its online portal.

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