Waystone ETFs secures mandate to operate Northern Trust ETF platform
This move reinforces Waystone’s capabilities as an ETF specialist, partnering with leading financial institutions to build quality investment products.
Waystone is delighted to share that we have been appointed by Northern Trust Asset Management (NTAM) to operate their $308.94m Flexshares ICAV ETF Platform.
Under this arrangement, which was recently approved by the Central Bank of Ireland, the ICAV has been brought into the Waystone ETF platform and renamed as Waystone ETF ICAV.
Role of NTAM and Northern Trust Services
NTAM will continue to act as the investment manager on the ETF, and this ICAV as well as any future ETFs that they decide to launch on the Waystone white label platform will be directed by Northern Trust Fiduciary Services (Ireland) Ltd, and Northern Trust International Fund Administration Services (Ireland) Ltd respectively.
Increasing Demand for Waystone’s Platform Solutions
Waystone has recently seen a massive demand for its platform solutions from active managers which see significant value in Waystone’s complementary set of capabilities that enable them to enter the ETF market and scale more efficiently.
Speaking about the move, Waystone ETFs CEO Paul Heffernan commented: “Given Waystone’s size and scale, we have seen huge demand from our institutional clients who want to leverage our ETF platform services so they can focus their attention on product strategy and distribution. We’re delighted to be able to offer NTAM, who will remain the investment manager to their ETF, this fully customisable solution and look forward to capitalising on the significant tailwinds in the ETF market globally.”
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