Northern Trust (Nasdaq: NTRS), a leading global provider of asset servicing and wealth management solutions, has been selected to provide custody services for the Fiji National Provident Fund (FNPF), Fiji’s only compulsory superannuation fund, reports BusinessWire. This marks a significant step for Northern Trust in expanding its presence in the Asia-Pacific region, underscoring its commitment to delivering tailored solutions for institutional clients across diverse markets.
The FNPF, as Fiji’s sole compulsory superannuation fund, manages the retirement savings of Fijian workers and adopts a diversified investment strategy across multiple asset classes, including listed equities, fixed-income securities, private markets, and real estate. The partnership with Northern Trust enables FNPF to optimise its investment management operations, entrusting custody responsibilities to a specialised provider and focusing more on its core investment strategies.
Angelo Calvitto, Head of Asia Pacific at Northern Trust, noted the significance of this partnership for the company’s regional growth strategy. He highlighted Northern Trust’s customised approach to client service, which he believes was pivotal in securing FNPF’s trust. “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,” Calvitto said.
Naibuka Saune, FNPF’s Chief Investment Officer, expressed that the partnership aligns well with FNPF’s objective to enhance member experience by selecting a custodial service provider that can handle the complexities of multi-asset class investment portfolios. Saune said that Northern Trust’s custody services allow the fund to concentrate more effectively on its investment activities.
Northern Trust’s established footprint in Asia-Pacific includes offices in major financial hubs such as Sydney, Tokyo, and Singapore, as well as operational centres in Kuala Lumpur and Bengaluru, among others. Its extensive regional network and relationships with central banks, sovereign wealth funds, and corporate clients underscore its capacity to serve a diverse range of institutional clients. With assets under custody/administration of US$17.4 trillion as of September 2024, Northern Trust brings substantial industry experience and resources to support FNPF’s growth objectives.
Founded in 1889 and headquartered in Chicago, Northern Trust has built a reputation for integrity, financial expertise, and innovation, positioning itself as a trusted partner in asset servicing and wealth management across global markets.
