Northern Trust Expands Three-Decade Partnership with Brandes for Australian Fund Launch

Northern Trust has expanded its longstanding relationship with Brandes Investment Partners to support the launch of the Brandes Global Value Fund in Australia, providing comprehensive global custody and fund administration services for the new Australian Unit Trust. This expansion builds on a partnership that began in 1992 and has grown to encompass multiple service areas across Brandes' investment operations.

The Brandes Global Value Fund represents Brandes' first Australian-domiciled mutual fund, targeting institutional and wholesale investors in the region. Brandes, a California-based investment advisory firm founded in 1974, specializes in global equity and fixed-income asset management with a focus on value investing strategies for clients worldwide. The firm's decision to launch this fund underscores the growing importance of the Australian market for international investment firms seeking to diversify their global distribution channels.

Ryan Burns, Head of Global Fund Services, Americas at Northern Trust, emphasized the strategic significance of this expansion, stating that it reflects the strength of their longstanding relationship and Northern Trust's ability to support Brandes' evolving global strategy. The partnership has previously included the integration of seven U.S. mutual funds into Northern Trust's Datum One Series Trust in 2024, demonstrating the scalability of Northern Trust's fund servicing capabilities.

Oliver Murray, Brandes CEO, highlighted the operational benefits of working with Northern Trust, noting their scale, operational excellence, and high service standards. The relationship has allowed Brandes to streamline its U.S. mutual fund business and efficiently enter new markets, particularly in the Asia-Pacific region where investment opportunities continue to expand. Northern Trust's comprehensive service offerings include global custody, fund accounting and administration, transfer agency, foreign exchange, securities lending, and Equity Data Science capabilities through their Global Fund Services platform.

This expansion signals broader trends in the financial services industry, where established partnerships between investment firms and service providers are increasingly important for navigating complex regulatory environments and entering new markets. The ability to leverage existing relationships for new product launches reduces operational risks and accelerates market entry timelines, particularly in regions like Australia where institutional investors are seeking diversified global investment options.

The collaboration between Northern Trust and Brandes demonstrates how long-term financial services partnerships can evolve to support global expansion strategies while maintaining consistent service quality across multiple jurisdictions. As investment firms continue to seek growth opportunities in international markets, such expanded service relationships will likely become increasingly common in the asset management industry.