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Ian Headon, Senior Product Manager for Alternative Asset Servicing, Northern Trust

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Northern Trust launches UCITS portfolio monitoring

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Northern Trust has enhanced its Hedge Fund Monitor solution with the addition of a new compliance module designed to support the unique demands of UCITS funds-of-hedge funds.

"Our latest Hedge Fund Monitor enhancement helps fund managers running UCITS funds-of-hedge funds to monitor their compliance with restrictions on liquidity, concentration risk and exposure to underlying non-UCITS funds," says Ian Headon (pictured), senior product manager for alternative asset servicing at Northern Trust. "In addition to real time, customised investment compliance measurement and performance and liquidity reporting, we have added functions specific to restrictions and guidelines relating to UCITS funds. This assists managers in assessing a fund’s self-imposed strategy and geographical restrictions along with compliance with UCITS guidelines."
 
UCITS – Undertakings for Collective Investment in Transferable Securities – are a set of European Union directives that allow collective investment schemes to operate throughout the European Union on the basis of a single authorisation from one member state. UCITS funds must operate within a strict regulatory framework that imposes standards on liquidity, concentration risk, transparency and other attributes.
 
"Northern Trust is committed to meeting the asset servicing needs of traditional and alternative investment managers, often with complex fund structures and multi-jurisdictional requirements," says Wilson Leech, head of Northern Trust’s Global Fund Services business. "Through our Hedge Fund Monitor solution, we remain focused on helping our clients to manage risk, liquidity and counter-party exposures, and enhance operational control and governance through the availability of timely, automated data that is critical to their portfolio management processes."
 
Northern Trust’s latest enhancement to the Hedge Fund Monitor comes at a time when a growing number of investors require greater transparency while demand also increases for separately managed accounts and regulated products such as UCITS funds. There is also the emergence of UCITS funds-of-hedge funds – a UCITS fund investing in underlying UCITS alternative funds.

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