Rathbones, the investment and wealth manager with US$60 billion (US$74 billion) assets under management (AUM) has confirmed its Rathbone Unit Trust Management team is outsourcing its trading to Northern Trust (NTRS), a project which began in November 2022.
The buy-side firm has said Rathbone Unit Trust Management uses NTRS to provide trade execution across all asset classes, except collectives, in order to provide greater liquidity for the investment teams, utilising greater dealing coverage across asset classes and geographies and the opportunity to trade outside normal London market hours. Trading is integrated into the investment process via tight communication channels between traders and portfolio managers who use Bloomberg chat alongside the trading instructions sent with each order.
A spokesperson for Rathbones said the team expects to find advantage via, “Greater liquidity for trading, better market information flow to our fund managers, greater flexibility in trading (geographies, timing etc) and through the scale of Northern Trust lower costs for our clients.”
Earlier this month, Rathbones announced it would acquire Investec Wealth & Investment UK for £840 million, creating an entity with a combined AUM of £100 billion.
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