This is the latest appointment in a series of Local Government Pension Scheme wins announced by Northern Trust.
Carmarthenshire County Council treasury & pension investments manager Anthony Parnell said thay selected Northern Trust as they demonstrated expertise in core asset servicing for UK pension funds, including investment accounting, which will be a new service for the Fund.
"Furthermore, Northern Trust has a comprehensive understanding of the Local Government Pension Schemes market in the UK and we were impressed by its proprietary online reporting portal, Passport. Alongside a competitive fee schedule, these were key criteria in this appointment," Parnell said.
Northern Trust recently announced it grew the part of its custody business servicing local government pension schemes in the UK with the addition of $10bn in new client assets in 2010.
The company now provides custody and related services to 36% of the Local Government Pension Scheme market in the UK.
