Northern Trust Nabs $320 Million Oslo Fund

By Tim Clark, Wall Street & Technology

Northern Trust today announced that it has won the mandate to provide custody services to the $320 million Oslo Pensjonsforsikring's (OPF) global fixed income portfolio, managed by investment manager Rogge Global Partners.The OPF fund is for employees working in the Municipality of Oslo, Norway, or companies in which the Municipality has a majority ownership interest.

"This is the first time we have used a global custodian," said HÅkon O. Wister of OPF, who said that Northern Trust had been selected because, "it demonstrated a consultative approach and thoroughly understood our requirements."

"We look forward to working with both OPF and Rogge Global Partners," saidAllan Nedergaard, Northern Trust's Nordic business development manager, in a release. "The Nordic Region is an important market for Northern Trust, and we are also astutely aware of the differences between each of the individual Nordic countries. As a result, we differentiate our approach in each to actively ensure we provide tailored solutions to meet our clients' individual requirements."