AJ Bell Selects Northern Trust and Carne Group to Support Its In-House Fund Range

Providing Solutions for £5bn of UK Investment Platform’s Funds Under Management

LONDON--(BUSINESS WIRE)-- 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.

https://www.carnegroup.com/

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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

Source: Northern Trust