MELBOURNE, Australia--(BUSINESS WIRE)--

QIC Limited (QIC), one of Australia’s largest institutional fund managers, has re-appointed Northern Trust (Nasdaq: NTRS) for a further seven year term for the provision of investment operations outsourcing, global custody, fund accounting, taxation and associated services for its range of Australian fund products and discrete mandates.

This re-appointment marks five years since Northern Trust commenced investment operations outsourcing for QIC in November 2011. QIC appointed Northern Trust as global custodian in July 2015, and today Northern Trust provides asset servicing solutions to QIC’s products in Australia, Ireland and the United States.

“Following an evaluation of the market, QIC is pleased to extend our partnership with Northern Trust, who is QIC’s strategic partner for our asset servicing needs,” said Mark McDonald QIC’s executive director of operations & technology.

“As QIC expands its global footprint, choosing a partner with a global reach, consistent client service approach and robust operating platform will enable QIC to focus on delivering innovative solutions to our clients worldwide”

“Northern Trust is delighted to renew our long standing relationship with QIC,” said Peter Jordan, head of Global Fund Services for Asia-Pacific at Northern Trust. “Since 2011, Northern Trust has evolved our partnership with QIC as their requirements and product range has changed.”

“Our fund manager clients continue to require high quality services that support their core investment management activities and data requirements, whilst navigating an ever changing economic, political and regulatory environment. Northern Trust’s global operating platform delivers timely, scalable and consistent outcomes for QIC, and we are pleased that we will continue to grow our relationship over the coming years,” Jordan added.

Northern Trust is a full-service provider to the Australian and New Zealand market and delivers a range of solutions for institutional clients; including Australian investment accounting and tax, unit registry services, investment operations outsourcing, and specialised custody solutions. Northern Trust provides full and component investment operations outsourcing services for close to 100 asset managers and asset owners across the globe, with US$2.54 trillion in assets under administration.

About Northern Trust

Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of wealth management, asset servicing, asset management and banking to corporations, institutions, affluent families and individuals. Founded in Chicago in 1889, Northern Trust has offices in the United States in 19 states and Washington, D.C., and 22 international locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of September 30, 2016 Northern Trust had assets under custody of US$6.7 trillion, and assets under management of US$946 billion. For more than 125 years, Northern Trust has earned distinction as an industry leader for exceptional service, financial expertise, integrity and innovation. Visit northerntrust.com or follow us on Twitter @NorthernTrust.

© 2016 Northern Trust Corporation. Head Office: 50 South La Salle Street, Chicago, Illinois 60603 U.S.A. Incorporated with limited liability in the U.S. Products and services provided by subsidiaries of Northern Trust Corporation may vary in different markets and are offered in accordance with local regulation. For legal and regulatory information about individual market offices, visit northerntrust.com/disclosures.

About QIC

QIC is a global diversified alternative investment firm offering infrastructure, real estate, private equity, liquid strategies and multi-asset investments. It is one of the largest institutional investment managers in Australia, with A$76.9 billion (US$58 billion)[1] in funds under management, offering infrastructure, real estate, private equity, liquid strategies and multi-asset investment services. QIC has over 600 employees and serves more than 90 clients including governments, pension plans, sovereign wealth funds and insurers, spanning Australia, Europe, Asia, Middle East and the US. Headquartered in Brisbane, Australia, QIC also has offices in New York, San Francisco, Los Angeles, London, Sydney, and Melbourne. For more information, please visit: www.qic.com

^[1] As at 30 September 2016

View source version on businesswire.com: http://www.businesswire.com/news/home/20161213006050/en/