Northern Trust Wins Custodian Mandate for London Councils CIV
Under political and financial pressures, London government pension funds are seeking to trim costs by pooling funds into a collective investment vehicle (CIV). Through economies of scale, the CIV will reduce the cost of investment management fees and provide pensions access to new asset classes such as direct investment in infrastructure. CIV participants have the ability to select investment options created by the CIV. Northern Trust is providing assistance in helping set up the CIV in which London Councils are targeting to save at the minimum £20 million a year. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]
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