Northern Trust expands Singapore unit trust services
SINGAPORE, SINGAPORE — Northern Trust has partnered with Perpetual (Asia) Limited to expand retail unit trust servicing capabilities in Singapore, combining custody, fund administration, middle-office outsourcing, and transfer agency with independent trustee services.
The arrangement, announced September 8, 2026, was designed to meet rising demand from investment managers for integrated operational infrastructure in Singapore’s growing fund sector.
Combining asset servicing and trustee oversight in Singapore
Under the arrangement, Northern Trust handles custody, fund administration, middle-office outsourcing, and transfer agency while Perpetual (Asia) Limited provides trustee services and safeguards unitholder interests.
The partnership serves both existing and new investment managers that require full-cycle operational infrastructure across Singapore’s retail unit trust sector, according to a press release from Northern Trust.
“This relationship combines Northern Trust’s expertise in asset servicing with Perpetual’s trustee capabilities to deliver a scalable and integrated solution for investment managers,” said Yen Leng Ong, Country Head Singapore at Northern Trust.
Singapore’s fund industry drives outsourced operations demand
Singapore’s retail unit trust market covers domiciled collective investment structures serving retail investors across the full fund lifecycle.
Northern Trust also expanded fund administration and custody services for First Sentier Group’s Singapore-domiciled unit trusts in August 2026, marking two fund servicing mandates within a single month.
The firm trades on Nasdaq as NTRS and serves institutional and asset management clients across Asia through its Singapore operations.
“The relationship brings together complementary capabilities, enabling Northern Trust to focus on the day-to-day operations of the funds while Perpetual independently fulfills its fiduciary responsibilities,” said Matthew Allen, Managing Director Asia Pacific at Perpetual.
Northern Trust’s Singapore expansion reflects a broader shift among global custodians to build localized, outsourced fund infrastructure across Asia’s growing retail investment market.
For asset managers and fund servicing providers, custody and middle-office delivery are fast becoming standard mandate categories as investment management firms seek operational scale.
The Perpetual (Asia) partnership model, splitting fiduciary oversight from operational delivery, may serve as a template for similar arrangements as Singapore’s collective investment sector continues to grow.
Related news
- Northern Trust expands First Sentier Singapore fund mandate · 18 Aug
- Northern Trust wins Dawson Partners fund-services deal · 30 Jul
- Northern Trust, Saphyre expand account lifecycle collaboration · 5 May
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