Northern Trust Wins £345 Million Mandate From The Nesta Trust

Northern Trust

announced today that it has been appointed by The Nesta Trust to provide custody and related services for GB£345 million (approximately US$550 million) in charity assets. This latest mandate underpins Northern Trust's focus on the charities, foundations and endowments sectors and adds to previously announced mandates such as the GB£710 million (US$1.2 billion) Health Foundation, and the GB£881 (US$1.4 billion) National Trust. The Nesta Trust is an independent charity with a mission to help people and organisations bring great ideas to life by providing investments and grants and mobilising research, networks and skills. The Nesta Trust inherited the assets of the former National Endowment for Science, Technology and the Arts on 1 April 2012. “As a newly created charity we were looking for a custodian that could demonstrate a strong track record in providing solutions for charities, foundations and endowments and understood our distinct challenges,” said Matt Mead, chief investment and financial officer at Nesta. “In particular we were looking for an asset servicing provider that could support our investments in a broad mixture of asset classes and provide leading broker dealer and transition management services.”