SINGAPORE–(BUSINESS WIRE)–#assetmanagement–Northern Trust (Nasdaq: NTRS) today announced it has expanded its fund services relationship with Avanda Investment Management, supporting its implementation of the mandate granted by Monetary Authority of Singapore (MAS) as part of the Equity Market Development Programme (EQDP).
Northern Trust will provide investment operations outsourcing, fund administration and Investment Risk and Analytical Services, building on a relationship with Avanda that began in 2015. Northern Trust supports Avanda’s full range of funds with the above services as well as custody, foreign exchange, and securities lending.
The EQDP is a S$5 billion (approximately US$3.8 billion) initiative aimed at strengthening Singapore’s asset management and research ecosystem and increasing investor interest in the local equities market.
Avanda’s strategy under its EQDP mandate aims to enhance investor access to Singapore-listed equities and contribute to the development of the local capital market. Avanda was selected as one of the first asset managers under EQDP, which is jointly administered by MAS and the Financial Sector Development Fund.
“We are proud to support Avanda in this milestone under the EQDP initiative,” said Yen Leng Ong, Northern Trust country executive for Southeast Asia. “This expansion reflects our commitment to delivering scalable, high-quality solutions that help asset managers grow and adapt in dynamic markets like Singapore.”
“We are pleased to work with Northern Trust on the implementation of our mandate as part of the EQDP initiative, which reflects our commitment to contributing to the development of Singapore’s capital markets,” said Michael Teo, co-chief executive officer and chief operating officer of Avanda Investment Management. “Northern Trust has become a valuable extension of our team through its consistent delivery, deep understanding of our operational needs and ability to scale, which has been instrumental in supporting our growth.”
Northern Trust’s Global Fund Services provides a complete suite of Asset Servicing solutions including fund administration, global custody, investment operations outsourcing and data solutions – supporting a range of complex investment strategies across the full spectrum of asset classes.
About Northern Trust
Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of wealth management, asset servicing, asset management and banking services to corporations, institutions, affluent families and individuals. Founded in Chicago in 1889, Northern Trust has a global presence with offices in 24 U.S. states and Washington, D.C., and across 22 locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of September 30, 2025, Northern Trust had assets under custody/administration of US$18.2 trillion, and assets under management of US$1.8 trillion. For more than 135 years, Northern Trust has earned distinction as an industry leader for exceptional service, financial expertise, integrity and innovation. Visit us on northerntrust.com. Follow us on Instagram @northerntrustcompany or Northern Trust on LinkedIn.
Northern Trust Corporation, Head Office: 50 South La Salle Street, Chicago, Illinois 60603 U.S.A., incorporated with limited liability in the U.S. Global legal and regulatory information can be found at https://www.northerntrust.com/terms-and-conditions.
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