Northern Trust has announced the expansion of its Singapore unit trust offering through a new relationship with Perpetual (Asia) Limited, combining Northern Trust's custody, fund administration, and middle-office outsourcing with Perpetual's trustee services. The partnership aims to provide investment managers with a comprehensive servicing solution for Singapore unit trust structures, leveraging Perpetual's expertise as a trustee for unit trusts, REITs, and other collective investment schemes. Yen Leng Ong, Country Head of Singapore at Northern Trust, said the collaboration enhances their ability to support retail unit trusts and positions them to meet evolving fund industry demands. Matthew Allen, Managing Director, Asia Pacific at Perpetual, emphasized that the arrangement allows Northern Trust to handle daily operations while Perpetual independently fulfills fiduciary duties to protect unitholders. As of June 30, 2026, Northern Trust reported assets under custody/administration of US$20.0 trillion and assets under management of US$2.0 trillion.
Northern Trust CorporationNew relationship with Perpetual expands Northern Trust's Singapore unit trust servicing offering, adding custody, fund administration, and middle-office business.
Perpetual (Asia) gains a new trustee-services relationship with Northern Trust for Singapore unit trust structures.
