Northern Trust Submits Exemptive Relief Applications for ETF Share Class Across Sponsored Multiple Series Trusts

Northern Trust announced its formal application for exemptive relief to offer Exchange-Traded Fund (ETF) share classes alongside existing mutual fund share classes for certain adviser series within its two sponsored series trusts: Advisers Investment Trust and Datum One Series Trust^®. Filing these applications demonstrates Northern Trust’s commitment to providing asset managers with support and flexibility to meet the evolving preferences of their investors.

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“ETFs continue to be a significant area of growth in the registered funds market,” said Phil Nanof, head of ETF Services, Americas at Northern Trust. “This capability would extend our ETF servicing framework within the multiple series trust model and reflects our focus on supporting asset managers as they consider a wider range of fund structures.”

While subject to regulatory approval, the ability to pursue ETF share classes alongside mutual fund share classes in a single fund creates additional options for asset managers as they consider changes to their product line-up, distribution strategies, and the benefits to fund shareholders.

Multiple series trusts are widely used by unaffiliated asset managers to operate registered investment funds under a shared governance and operational framework. By supporting both mutual funds and ETFs within the same trust structure, asset managers can pursue different fund formats while operating within an established regulatory and administrative environment.

“Choosing a trust structure is a long-term operating decision for asset managers,” said Barbara Nelligan, head of Service and Strategy Enablement, Global Fund Services, at Northern Trust. “This capability is intended to provide flexibility as asset managers assess how ETFs may fit into their broader distribution and product strategies, including the potential addition of ETF share classes to existing funds.”

Northern Trust provides a complete suite of Asset Servicing solutions including fund administration, global custody, investment operations outsourcing and data solutions – supporting a range of complex investment strategies across the full spectrum of asset classes.

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