Northern Trust has been selected to provide fund accounting, fund administration, transfer agency and global custody services for Morningstar Funds Trust, a new fund complex with nine sub-advised mutual funds to be launched by Morningstar Investment Management LLC, a leading provider of discretionary investment management and advisory services.
“Northern Trust’s global technology platform and mutual fund expertise make it an excellent mutual fund service provider to support our new funds,” said Daniel Needham, President and Chief Investment Officer of Morningstar Investment Management, the investment adviser to Morningstar Funds Trust. “Our strong relationship with Northern Trust allows us to focus on our active, multi-manager investment strategies while providing exceptional client service to our investors.”
“We are happy to build on our relationship with Morningstar Investment Management as they launch a new line of mutual funds,” said Dan Houlihan, head of Northern Trust Global Fund Services in North America. “Through technology innovation and talent development, Northern Trust aims to deliver a more automated, client-centered service model to the U.S. mutual fund market, and this appointment by a premier asset manager confirms our progress toward that goal.”