Northern Trust Global Investments, the investment management arm of Northern Trust Corp. of Chicago, has partnered with Taiwan's First Taisec Capital Management to offer manager-of-managers funds to retail investors in Taiwan.
First Taisec is a subsidiary of First Financial Holding Co. Ltd., one of Taiwan's largest financial services companies, and has been appointed as master agent to oversee the registration and distribution of five Northern Trust funds, which are part of Northern Trust's Dublin-domiciled manager-of-managers fund family.
The funds will initially be available to investors in Taiwan through two of First Taisec's sister companies, First Commercial Bank and National Investment Trust Co. Ltd., which have a network of over 220 branches across Taiwan.
Northern Trust, which announced the agreement Thursday, has a network of 85 offices in 18 states and international offices in 13 countries in North America, Europe and the Asia-Pacific region. It had $4.1 trillion of assets under custody and $761.4 billion under management on Sept. 30.
