AJ Bell Selects Northern Trust and Carne Group to Support Its In-House Fund Range
MWN-AI** Summary
AJ Bell, a prominent UK asset manager, has appointed Northern Trust and Carne Group to enhance its in-house fund offerings comprising £5 billion of assets under management (AUM). Northern Trust will provide custody, depositary, and fund administration services, while Carne Group will act as the Authorised Corporate Director. This fund range includes nine multi-asset funds aimed at delivering cost-effective and straightforward investment solutions tailored to varying risk appetites for UK retail investors.
Laurence Everitt, head of Global Fund Services at Northern Trust, expressed enthusiasm about the collaboration, noting AJ Bell's prominent presence in the financial services sector. He emphasized Northern Trust's extensive experience and technological capability in providing custody and fund accounting services, aligning with AJ Bell's strategic goals and the evolving needs of investors.
Carne Group’s Managing Director, Jeremy Soutter, highlighted the opportunity to support AJ Bell in its growth ambitions through this partnership, reinforcing Carne’s position as a leader in fund lifecycle management in the UK. Ryan Hughes, Managing Director at AJ Bell Investments, acknowledged that Northern Trust and Carne bring significant industry expertise and operational capabilities that enhance AJ Bell's operational model and scalability.
Founded in 1995, AJ Bell focuses on providing accessible investment solutions, managing platform assets worth £103.3 billion. The partnership with Northern Trust and Carne signifies a strategic move to bolster its fund management operations and optimize investor services. With Northern Trust overseeing extensive global assets and Carne being Europe’s leading independent third-party management company, both firms are poised to add substantial value to AJ Bell’s investment platform. This collaboration promises to further streamline AJ Bell’s operations while enhancing its capacity to meet the evolving needs of investors.
MWN-AI** Analysis
AJ Bell’s recent partnership with Northern Trust and Carne Group signifies an important strategic move as it seeks to enhance its in-house fund offerings. By selecting these two established firms for asset servicing and Authorised Corporate Director services, AJ Bell is positioning itself for scalable growth in a competitive UK investment landscape.
Northern Trust, recognized for its scale and expertise in custody and fund administration, brings over 135 years of industry experience. This collaboration will likely provide AJ Bell with enhanced operational efficiency and technological capabilities, essential for managing its £5 billion assets under management (AUM). The firm’s focus on simple, low-cost investment solutions is well-aligned with the growing demand from retail investors for transparent and accessible options in the market.
Carne Group, as the Authorised Corporate Director, will further bolster AJ Bell’s governance and compliance framework. With a strong reputation in fund lifecycle management, Carne’s involvement is critical in ensuring that AJ Bell’s multi-asset funds remain robust against regulatory scrutiny, thereby enhancing investor confidence.
Investors should note the strategic importance of this partnership: it not only strengthens AJ Bell’s operational framework but also indicates its commitment to delivering well-governed investment solutions tailored to various risk appetites. As the company continues to evolve its offerings, the potential for increased AUM is substantial, particularly as retail investor interest in diversified investment vehicles grows.
In terms of market advice, investors should closely monitor AJ Bell's performance following these service transitions. Successful execution of this strategy could lead to improved fund performance and client satisfaction, making AJ Bell an attractive player within the UK investment platform space. Hence, maintaining a keen eye on fund performance metrics and market responsiveness will be beneficial for stakeholders.
**MWN-AI Summary and Analysis is based on asking OpenAI to summarize and analyze this news release.
Providing Solutions for £5bn of UK Investment Platform’s Funds Under Management
Northern Trust (Nasdaq: NTRS) and Carne Group (Carne) announce they are providing asset servicing and Authorised Corporate Director services respectively for AJ Bell , a United Kingdom (UK)-based asset manager and one of the country’s leading investment platforms.
AJ Bell has selected Northern Trust to provide custody, depositary, and fund administration services for its in-house managed funds, and Carne as the funds’ Authorised Corporate Director. This fund range comprises of nine multi-asset funds managed by AJ Bell’s investment team, aiming to provide simple and low-cost investment solutions for UK retail investors.
The funds are designed to suit distinct levels of risk appetite – and currently total £5 billion (approx. US$6.5bn) of assets under management (AUM). Servicing responsibilities for the funds have recently been transitioned to Northern Trust and Carne.
Laurence Everitt, head of Global Fund Services, UK, at Northern Trust , said : “We are delighted to be working with AJ Bell – a household name in UK financial services – to support their continuing efforts to create value for UK investors. As the UK’s leading provider of custody, depositary services and fund accounting by number of funds (source: Monterey Insight UK Fund Report 2024) , Northern Trust has the requisite scale, expertise, and technology to support our client and their customers with their evolving strategic and financial plans.”
Jeremy Soutter, Managing Director at Carne Group, also commented: “We’re very pleased to have been selected by AJ Bell to act as Authorised Corporate Director for this key fund range, helping to support and enable the next phase of its growth. This partnership further expands our own footprint in the UK, as we continue to increase AUM and headcount, working with clients across asset classes and domiciles.”
Ryan Hughes, Managing Director at AJ Bell Investments said: “These appointments bolster our business with depth and flexibility to further optimise our operating model. Northern Trust and Carne bring proven funds industry experience and operational infrastructure that align with our objectives for scalable growth – and further enhance our ability to help customers put their money to work in line with their investment objectives.”
Founded in Manchester, UK in 1995, AJ Bell provides easy access to pensions, ISAs and general investment accounts, offering a wide range of simple, low-cost investment solutions, with platform assets under administration of £103.3 billion (approximately US$134.5bn). The funds being serviced by Northern Trust and Carne are part of the AJ Bell Investments fund range comprising £5 billion (approx. US$6.5bn) of assets under management (all figures as of 30 September 2025).
About Northern Trust
Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of wealth management, asset servicing, asset management and banking services to corporations, institutions, affluent families and individuals. Founded in Chicago in 1889, Northern Trust has a global presence with offices in 24 U.S. states and Washington, D.C., and across 22 locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of September 30, 2025, Northern Trust had assets under custody/administration of US$18.2 trillion, and assets under management of US$1.8 trillion. For more than 135 years, Northern Trust has earned distinction as an industry leader for exceptional service, financial expertise, integrity and innovation. Visit us on northerntrust.com. Follow us on Instagram @northerntrustcompany or Northern Trust on LinkedIn.
Northern Trust Corporation, Head Office: 50 South La Salle Street, Chicago, Illinois 60603 U.S.A., incorporated with limited liability in the U.S. Global legal and regulatory information can be found at https://www.northerntrust.com/terms-and-conditions .
About Carne
Carne Group takes care of the people who take care of money. Founded in 2004, today Carne is Europe’s largest – and only independent – third-party management company. We support asset managers through every element of the fund lifecycle, including risk, compliance, due diligence, oversight, distribution and governance. Backed by digital capabilities and infrastructure built over two decades, our dedicated and expert team provides peace of mind for our clients and their investors, simplifying and strengthening the ways their funds operate.
We partner with around 650 clients, from boutique firms to the majority of the world’s 20 largest fund managers – supporting funds distributed in over 160 countries and overseeing more than US$2 trillion assets under management. Carne employs more than 600 employees across eight locations globally.
View source version on businesswire.com: https://www.businesswire.com/news/home/20251124657252/en/
Northern Trust Media Contacts
Europe, Middle East, Africa & Asia-Pacific:
Camilla Greene
+44 (0) 20 7982 2176
Camilla_Greene@ntrs.com
Simon Ansell
+ 44 (0) 20 7982 1016
Simon_Ansell@ntrs.com
US & Canada :
John O’Connell
+1 312 444 2388
John_O’Connell@ntrs.com
Carne Group Media Contacts
Celine Moran
+44 746 852 3858
Celine@liminalcomms.com
Vasiliki Vokou
+44 781 853 1970
Vasiliki@liminalcomms.com
FAQ**
How does Northern Trust Corporation NTRS plan to leverage its expertise in custody and fund administration to enhance AJ Bell's offerings for UK retail investors?
What specific operational efficiencies does AJ Bell anticipate from its partnership with Northern Trust Corporation NTRS and Carne Group?
Can you elaborate on the benefits AJ Bell expects from Northern Trust Corporation NTRS’s scale and technology in supporting its fund management growth?
In what ways does Carne’s partnership as the Authorised Corporate Director align with the strategic goals of AJ Bell and Northern Trust Corporation NTRS in the investment industry?
**MWN-AI FAQ is based on asking OpenAI questions about Northern Trust Corporation (NASDAQ: NTRS).
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