HONG KONG--(BUSINESS WIRE)--Northern Trust was named a “rising star” in alternative fund administration while winning its fifth consecutive award for “Best Custody Specialist-Institutional” in The Asset magazine’s Triple A Asset Servicing, Fund Management and Investor Awards 2013.

The Asset’s awards recognize excellence in a variety of services for institutional investors and asset managers across the Asia-Pacific region. Award submissions are reviewed by The Asset’s Board of Editors who collectively have several decades’ worth of experience in evaluating industry awards in Asia.

For the fifth year in a row, Northern Trust was awarded the “Best Custody Specialist-Institutional” category, reflecting its commitment to client service and technology innovation as well as its deep relationships with some of the region’s largest Sovereign Wealth Funds, Central Banks, corporations and government entities.

“As institutional investors adjust to the new normal of market volatility and increasing demands for transparency, we continue to offer solutions to enhance oversight of complex portfolios and customize reports to meet evolving regulatory requirements,” said Teresa A. Parker, Head of the Asia-Pacific region for Northern Trust. “We are thrilled to again be recognized for high-touch client service, significant new business growth and successful implementations over the past year.”

The citation of Northern Trust as a “rising star” in the “Best Fund Administrator-Alternative Investments” category for Hong Kong follows a strong entrance into the market by Northern Trust Hedge Fund Services. The unit has won more than 40 new client mandates since it was established in August 2011, and the Hong Kong office currently supports 10 Asia-based Hedge Fund Services clients and four additional global clients with Asia offices.

“Our market-leading technology uses a single data set across all back and middle office functions and is able to support virtually any asset type or strategy traded by hedge funds today,” said Peter Sanchez, CEO of Northern Trust Hedge Fund Services. “Our clients can experience the benefits of fund administration that is fully integrated with custody, foreign exchange, cash management and fiduciary services, providing a full solution, regardless of their location. It’s a great honor to be named in this category by The Asset.”

About Northern Trust

Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of investment management, asset and fund administration, banking solutions and fiduciary services for corporations, institutions and affluent individuals worldwide. Northern Trust, a financial holding company based in Chicago, has offices in 18 U.S. states and 17 international locations in North America, Europe, the Middle East and the Asia-Pacific region. As of March 31, 2013, Northern Trust had assets under custody of US$5 trillion, and assets under investment management of US$810.2 billion. For more than 120 years, Northern Trust has earned distinction as an industry leader in combining exceptional service and expertise with innovative products and technology. For more information, visit www.northerntrust.com or follow us on Twitter @NorthernTrust.

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 http://www.northerntrust.com/disclosures.