Northern Trust Corporation reports developments across wealth management, asset servicing, asset management and banking for institutions, corporations, affluent families and individuals. News about Northern Trust commonly covers client mandates for global custody, securities lending, fund administration, depositary services, investment operations outsourcing and accounting services, including work with public retirement systems and ETF platforms.
Recurring updates also include Northern Trust Universe performance data for pension and institutional investment plans, wealth management leadership and Global Family Office activity, quarterly financial results, common and preferred stock dividends, and technology collaborations that support investment operations workflows and reporting.
The Northern Trust report reveals that global markets ended Q3 2022 negatively, with institutional asset owners seeing a median return of -4.2%. The U.S. equity program universe returned -4.4%, while the S&P 500 index was down -4.9%. The Corporate (ERISA) universe's median return was -6.4%, and public funds reported -3.8%. Amidst growing recession fears and inflation pressures, interest rate hikes by the Federal Reserve have notably impacted returns.
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The Northern Trust Canada Universe reports modest gains for Canadian Pension plans in Q3 2022, with a median return of 0.76% for the quarter, though down 14.75% year-to-date as of September 30, 2022. Global market volatility, driven by inflation and aggressive interest rate hikes, affected corporate valuations. Canadian equities fell by 1.4%, while U.S. equities gained 1.3% in CAD. Despite challenges, Canadian bonds showed modest gains. The Bank of Canada raised interest rates by 1.75%, reaching 3.25%, aiming to address inflation.
Northern Trust Corporation (NTRS) has announced its third-quarter financial results for 2022. As of September 30, 2022, the company managed assets totaling US$1.2 trillion and held US$12.8 trillion in assets under custody/administration. The earnings conference call will occur on October 19, 2022, at 9:00 a.m. CT, accessible via their website. With a legacy of over 130 years, Northern Trust continues to highlight its role as an industry leader in wealth management and asset servicing.
Northern Trust Corporation (NASDAQ: NTRS) announced a quarterly cash dividend of $0.75 per share on common stock, payable on January 1, 2023, to holders of record by 5:00 p.m., location value="LU/us.il.chicgo"Chicago time on December 9, 2022. Additionally, it declared cash dividends of $293.75 per share on Series E non-cumulative perpetual preferred stock, also payable on January 1, 2023, to holders of record on December 15, 2022. These dividends reflect the company's ongoing commitment to shareholder returns.
Northern Trust Asset Management (NTAM) has appointed Antulio Bomfim as head of Global Macro, a newly created role to strengthen its global fixed income group, which manages $470 billion. Bomfim brings nearly 30 years of experience including advisory roles at the Federal Reserve and significant positions in investment management. The firm aims to enhance investor services in fixed income markets, aligning with its principles of risk compensation.
Northern Trust (NTRS) has been appointed by Polar Capital to provide global custody, depositary, transfer agency, fund accounting, and currency management services for the Melchior Selected Trust. This trust, established in 2010, has assets of £812 million as of August 31, 2022. The collaboration aims to consolidate service providers, enhance operational efficiencies, and simplify fund administration for European investors, furthering Northern Trust's longstanding partnership with Polar Capital since 2001.
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