Northern Trust has been chosen to offer custody services for the Fiji National Provident Fund (FNPF), the sole compulsory superannuation fund managing retirement savings for the country’s workforce.
The FNPF, responsible for overseeing the retirement assets of Fijian employees, employs a diversified, multi-asset investment strategy that spans listed equities, fixed-income securities, private markets, and real estate.
FNPF chief investment officer Naibuka Saune said: “Our goal is to provide our members with the best experience, and that meant finding a partner who could offer more comprehensive custodial services.
“Northern Trust has proven to be that partner, allowing us to shift our focus to core investment activities while they handle our custody needs.”
Established in 1889, Northern delivers wealth management, asset servicing, asset management and banking along with capital markets solutions to corporations, institutions, affluent families and individuals.
The company has a strong presence in the Asia Pacific region as well as operates in major financial hubs, including Beijing, Bengaluru, Hong Kong, Kuala Lumpur, Manila, Melbourne, Pune, Singapore, Sydney, and Tokyo.
According to Northern Trust, the company has built enduring relationships with major central banks, sovereign wealth funds, government agencies, corporations, and asset managers across the region.
The company has assets under custody/administration of $17.4 trillion, and assets under management of $1.6 trillion as of 30 September 2024.
Northern Trust Asia Pacific head Angelo Calvitto said: “This win marks a major milestone in our commitment to the APAC region.
“What sets Northern Trust apart is our ability to tailor our comprehensive range of services and extended capabilities to meet FNPF’s unique needs, which helped earn the fund’s trust and confidence.
“Moving forward, we are committed to providing more holistic and collaborative solutions to support FNPF’s growth, ensuring we remain a trusted partner for long-term success.”
Last month, Northern Trust joined forces with global private markets investment management firm Hamilton Lane to leverage the latter’s proprietary software, Cobalt LP, along with integrated services, for Northern Trust asset servicing clients.
