Northern Trust expands First Sentier Singapore fund mandate
SINGAPORE, SINGAPORE — Northern Trust expanded its fund administration mandate with First Sentier Group, adding custody, fund accounting, and transfer agency services for the First Sentier Investors Global Growth Funds Singapore unit trust.
The appointment extends a global partnership between the two firms that began in 2006.
Two decades of partnership behind Singapore mandate expansion
Under the expanded mandate, Northern Trust will deliver custody, fund accounting, and transfer agency services for the First Sentier Investors Global Growth Funds under its global operating platform, bringing all three functions within a single administration model.
The mandate consolidates First Sentier’s Singapore fund administration under a single global custodian, reducing the complexity of managing separate administrative arrangements for the unit trust.
“This expanded mandate with First Sentier Group strengthens our fund administration support for retail investors in the region and reflects the depth of our global relationship,” said Yen Leng Ong, country head of Singapore at Northern Trust.
First Sentier streamlines its global operating model
The Singapore mandate extends First Sentier’s strategy of centralizing fund administration under a single global custodian, reducing the operational overhead of maintaining separate administrative relationships across markets.
Aligning Northern Trust’s Singapore infrastructure with its global platform gives First Sentier a service model that can scale alongside the firm’s retail distribution growth across Southeast Asia without a change in provider.
“This appointment supports the continued simplification of our global operating model and strengthens the consistency of service across our fund ranges,” said Amanda Gazal, chief operating officer at First Sentier Group.
Northern Trust’s Singapore operations serve as a delivery hub for fund administration and custody services across the Asia-Pacific region, where managed fund assets and retail investment platforms have expanded substantially since 2020.
The appointment reflects a broader trend in financial services business process outsourcing (BPO), where asset managers increasingly consolidate fund operations with specialist global custodians to reduce vendor complexity and achieve consistent service standards across markets.
Northern Trust has managed the First Sentier relationship across multiple jurisdictions since 2006, and this mandate adds Singapore’s retail investor base to a global service arrangement that already spans institutional asset servicing.
With $20 trillion in assets under custody and administration globally, Northern Trust brings a fund administration and investor services platform that regional-only providers cannot replicate at scale.
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