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Vontobel launches emerging markets equity fund

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Vontobel Asset Management has launched an emerging markets equity fund for institutional investors located in multiple countries.

The Luxembourg-domiciled Fonds Commun de Placement established by Vontobel will provide a tax-transparent vehicle for investment in its global equity strategies by institutional investors in Europe and Asia. 

Northern Trust has been appointed to provide global custody, fund administration, investor-level tax services and management company services.

"We were eager to launch this new, cross-border pooled fund in order to offer our clients exposure to emerging markets and support the global distribution of our equity products on a tax-efficient basis," says Thomas Wittwer, managing director and head of marketing and sales for Vontobel Asset Management. "The FCP structure provides operational benefits, including the flexibility to offer other investment strategies over time. For our successful implementation, we needed a service provider that could support multiple countries of investment, multiple countries of investor, and a variety of sub funds. Northern Trust’s team of tax, legal and operations experts was highly focused on execution, and consistently excellent throughout the launch process. The Northern Trust pooling solution supports our growth strategy and our plans to distribute our tax-efficient products on a global scale."

The provision of Northern Trust asset pooling services to support the Vontobel FCP expands a relationship that began in 2007 with the migration of Vontobel’s non-portfolio management-related investment operations to Northern Trust.

Investment operations outsourcing services provided by Northern Trust include trade processing and settlement, reconciliation, portfolio accounting, client valuations and reporting, foreign exchange and other aspects of post-trade execution support.

"This extension of services between Northern Trust and Vontobel Asset Management displays the unique and broad services Northern Trust is capable of providing our institutional clients," says Steven L. Fradkin, president of Northern Trust’s corporate and institutional services. "This emerging markets strategy diversifies Vontobel’s product range while providing in-depth oversight and tax transparency via Northern Trust’s pooling solution. Cross-border pooling is a core business for Northern Trust, and we continue to invest in our innovative platform."

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