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PRINT THIS PAGE Northern Trust wins $1bn asset servicing mandate for Auda funds of hedge funds04/07/2008. Source: AltAssets.
New York-based fund manager Auda Hedge has asked Northern Trust to provide fund administration, custody, banking and foreign exchange services to its fund of hedge funds programme. The fund of hedge funds programme has assets in excess of $1bn.
Robert Kirby, COO of Auda, said, 'Northern Trust is able to offer us everything we need under one roof and, in addition, we are particularly excited about the prospect of having daily portfolio management data for our funds of hedge funds for the first time. Both were important reasons that lead to Northern Trust's selection.'
Northern Trust Corporation is a provider of investment management, asset and fund administration, fiduciary and banking solutions for corporations, institutions and affluent individuals.
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